AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF TAJIKISTAN AND GOVERNMENT OF THE REPUBLIC OF UZBEKISTAN

of March 9, 2018

About encouragement and mutual protection of investments

The government of the Republic of Tajikistan, and the Government of the Republic of Uzbekistan which are hereinafter referred to as with the Parties

wishing to promote strengthening of cooperation between two states concerning encouragement of investments of citizens and the companies of the state of one Party in the territory of the state of other Party;

recognizing that the agreement encouraging and according to investments favorable treatment will stimulate private capital flow and economic development of the states of the Parties;

agreeing that the stable basis for investments will promote the most effective use of economic resources and increase in level of living;

recognizing importance of providing the effective mechanism are sewn up investments according to the national legal system of the states, and also by means of rules of international law;

agreed as follows:

Article 1 of Determination

For the purposes of this agreement the following concepts mean:

1. "Investor" - any physical person or legal entity of the state of one of the Parties performing investments in the territory of the state of other Party:

a) physical person - any physical person who is the citizen of the state of the Party according to its legislation;

b) the legal entity - any legal entity created or founded according to the legislation of the state of the Party.

2. "Investments" - all types of property which invest the investor of one Party in the territory of the state of other Party according to the legislation of the state of the last Party, in particular:

a) personal and real estate;

b) shares, deposits and other forms of equity participation commercial, organizations;

c) right to claim on the money made for creation of economic values or under the agreements having economic value and connected with investments;

d) exclusive rights on intellectual property items (copyright, patents, industrial designs, models, trademarks or service marks, technology, information having the commercial value, and know-how);

e) the rights to implementation of business activity granted on the basis of the legislation of each of the states of the Parties or the Agreements signed according to the legislation of the states of the Parties, including, in particular, connected with investigation, development, production and operation of natural resources;

e) others, investments in other forms which are not contradicting the legislation of the state of the Party in the territory of which investments are performed.

Any, change of form of investments does not influence their qualification as investments if such change does not contradict the legislation of the state of the Party in the territory of which state investments are performed,

3. "Income" - any means received from investments the territory of the state of the Party including profit, percent, dividends, royalty, license, commission and other fees.

4. "Freely used currency" - means the currency determined in the subitem (f) of Articles 30 of the Agreement of the International Monetary Fund accepted on July 22, 1944 in Brettan-Woods, the State New Hemshpir, the United States of America.

5. "The territory of the state of the Party" - means concerning each of the Parties the territory of their state over which they perform the sovereign rights and jurisdiction in compliance with the national legal system and the universally recognized norms of international law.

6. "The legislation of the state of the Party" - means the laws and other regulatory legal acts of the Republic of Uzbekistan or the laws and other regulatory legal acts of the Republic of Tajikistan, respectively.

Article 2 Scope of the Agreement

1. This agreement is applied to all investments performed by investors of one Party in the territory of the state of other Party from the moment of the introduction of this agreement in force.

2. This agreement is not applied to disputes to the facts and actions which arose before entry into force of this agreement.

3. This agreement does not oblige the either party concerning any taking the scene of action or the fact, or any situation which ceased to exist before the date of entry into force of this agreement.

4. To external loans this agreement is applied only to the loans attracted after the introduction in this agreement type.

Article 3 Encouragement and protection of investments

1. Each Party aims to create favorable conditions to investors of the state of other Party for implementation of investments in the territory of its state and allows such investments according to the legislation of the state.

2. Each Party provides according to the legislation of the state complete protection in the territory of the state, investments of investors of the state of other Party.

Article 4 Mode of Investments

1. Each Party provides in the territory of the state the fair and equal mode to investments of investors of the state of other Party concerning management and the order with them.

2. The mode specified in Item 1 of this Article shall be at least favorable, than the mode which is provided to investments of own investors or investors of any third state, depending on what of them, according to the investor, is more favorable.

3. The mode provided according to Item 2 of this Article does not extend to benefits which the Party provides or will provide in the future:

- in connection with participation in the free trade area, custom union, or any similar economic integration education;

- on the basis of agreements about avoidance of double taxation or other arrangements on the tax matters;

- in connection with public procurements.

The article 5 Refusal in preference provision

1. Nothing in this agreement obliges the either party to apply this agreement to the investments performed from the capital or assets received as a result of illegal (criminal) activities.

2. This agreement, shall not be interpreted in such a way that it would limit the Party in taking measures, directed, on preserving public order, accomplishment of the obligations on maintenance or recovery of international peace and safety, go for protection of the vital interests of safety of the state.

Article 6 Expropriation

1. The investments of investors of the state of one Party performed in the territory of the state of other Party cannot be subjected to measures of forced withdrawal equivalent on effects of expropriation or nationalization (further - expropriation), except as specified, when these measures are performed in public concerns in case of observance of the procedure established according to the legislation, the states of this other Party have no discrimination character and involve payment of bystry, adequate and effective compensation.

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