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

of August 1, 2019

About mutual encouragement and protection of investments

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

wishing to deepen economic cooperation for mutual advantage of both states,

aiming to create and support favorable conditions for investments of investors of the state of one Contracting Party in the territory of the state of other Contracting Party,

recognizing that mutual encouragement and protection of investments on the basis of this agreement will promote development of business initiative, private capital flow and economic development in both states,

considering importance of providing the effective mechanism of protection of 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:

1. The term "investments" means all types of the property enclosed by the investor of the state of one Contracting Party in connection with implementation of economic activity for the purpose of profit earning in the territory of the state of other Contracting Party according to the legislation of the state of other Contracting Party and includes, in particular:

a) personal and real estate and other property rights;

b) shares, shares or other forms of participation in the commercial organizations, and also bonds;

c) rights to claim concerning money or any obligation fulfillment under the agreement having economic value and signs of investments;

d) the rights to intellectual and industrial property, including copyright, patents for inventions, trademarks, industrial designs, specifying of the place of goods origin and technical processes, know-how, trade names, know-how and goodwill, and also other similar rights;

e) the concessions provided according to the legislation of the state of the Contracting Party in the territory of which investments, or competent authority according to the agreement, including the rights to investigation, development, production or operation of natural resources are performed;

e) other investments in other forms recognized by investments by the legislation of the state of the Contracting Party in the territory of which investments are performed.

To qualify asset as investment according to this agreement, it shall have investment signs, such as:

the obligation on capital investments or other resources;

expectation of income acquisition or arrived;

acceptance of risk.

Any change of form in which investment or reinvestment of property is performed does not affect their nature as investments provided that similar change does not contradict the legislation of the state of the corresponding Contracting Party.

For the purposes of this agreement the term "investments" does not include the following assets:

a) any percent on the debt securities issued by the government, either the state company, or controlled by the state the company or loans to the government, either the state, or controlled by the state company;

b) any presurgical expenses connected with the admission, creation, acquisition or expansion of the company, which arose prior to business transactions of the company in the host state if other is not provided by the contract between the investor and one of Contracting Parties;

c) rights to claim of money which arise only from commercial transactions on sales of goods or services;

d) rights to claim of money which arise only from loan granting in connection with any commercial transaction.

Under business transactions about which would there be a speech in the subitem) parts four of Item 1 of this Article, it is understood that the company performs all following actions without exception:

a) assumes long-term obligations on capital investment in the host state;

b) accepts entrepreneurial risk;

c) performs activities according to the national legal system of the host state.

2. The term "income" means any means received from investment in the state of the Contracting Party including profit, percent, dividends, royalty, license and commission fees, payments for technical assistance, maintenance and other forms of remunerations.

3. The term "investor" means any physical person or legal entity of the state of one of Contracting Parties performing investments in the territory of the state of other Contracting Party:

a) the physical person - the citizen of the state of one of Contracting Parties according to its legislation;

b) the legal entity concerning any of Contracting Parties - any legal entity created or founded, and also recognized by that according to the legislation of its state.

4. The term "territory" means the territory which is under sovereignty of the state of the Contracting Party concerning which this state performs the sovereign rights or jurisdiction according to the national legal system and international law.

5. The term "legislation of the state of the Contracting Party" means the laws and other regulatory legal acts constituting the right of the Republic of Belarus, or the laws and other regulatory legal acts constituting the right of the Republic of Uzbekistan.

Article 2 Application of This Agreement

Provisions of this agreement will be applied to all investments performed by investors of the state of one of Contracting Parties in the territory of the state of other Contracting Party according to its legislation before and after the introduction of this agreement in force, however will not be applied to any dispute to investments, to the actions or the facts which arose to the introduction of this agreement in force or to any claims settled to the introduction of this agreement in force.

Article 3 Mutual encouragement and protection of investments

1. Each Contracting Party will encourage and create favorable conditions for investors of the state of other Contracting Party for implementation of investments in the territory of its state and will allow such investments according to the legislation of the state.

2. The fair and equal mode, and also complete and corresponding legal protection in the territory of the state of other Contracting Party will be provided to investments of investors of the state of each of Contracting Parties steadily. Each of Contracting Parties in the territory of the state not interfere by acceptance of unreasonable or discriminatory measures with management, maintenance, use or the order of investments of investors of the state of other Contracting Party.

Each of Contracting Parties shall observe any obligation undertaken in relation to investments of investors of the state of other Contracting Party.

Article 4 National treatment and most favored nation treatment

1. Each of Contracting Parties will provide in the territory of the state concerning investments and the income of investors of the state of other Contracting Party the mode at least favorable, than that which it provides concerning investments and the income of investors of the state or investments and the income of investors of any third state, depending on what of them, according to the investor, is optimum.

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