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Agreement between the Government of the Republic of Uzbekistan and Government of the Republic Georgia on mutual encouragement and protection of investments

of September 4, 1995

The government of the Republic of Uzbekistan and the Government of the Republic Georgia, the hereinafter referred to as Contracting Parties,

wishing to promote broader economic cooperation between them for mutual advantage of both states,

recognizing need of encouragement and protection of investments for the purpose of creation and preserving advantageous conditions for investments to investors of the state of one Contracting Party in the territory of the state of other Contracting Party,

agreeing that the stable basis of investments will provide maximum efficiency of use of economic resources and development of productive forces,

agreed as follows:

Article 1. General determinations

For the purposes of this agreement:

1. The term "investor" extends and includes:

i) states of Contracting Parties;

ii) legal entities of the states of Contracting Parties;

iii) international organizations of the states of Contracting Parties;

iv) citizens, associations of citizens and stateless persons of the states of Contracting Parties;

v) the citizens of Contracting Parties who are constantly living abroad.

2. The term "investments" designates any kind of property and the rights to them, and also is right on intellectual, trade and industrial property, such as, copyright, patents, useful models, industrial designs and models, trademarks, trade names, production and trade secrets, technologies, "the buzzing twisted" and "know-how".

3. Investments in the territory of the states of Contracting Parties are performed in the way:

i) creations of the economic societies and partnerships, banks, insurance companies and other companies which are completely belonging to investors or on the basis of equity in them;

ii) property acquisitions, shares and other securities;

iii) acquisitions of rights of property rights, including rights of possession and uses of the earth (including on the basis of lease) and natural resources;

iv) other activities for implementation of investments which are not contradicting the legislation existing in the territory of the state of the Contracting Party in the place of investment.

No change of form in which the investment of values is originally or repeatedly performed leads to change of their qualification as investment.

4. The term "legal entities" designates - the legal entities who received the status by the legislation of the state of one Contracting Party and performing investments in the territory of the state of other Contracting Party.

5. The term "citizens" designates - persons having the nationality and legal capacity by the legislation of the state of one Contracting Party which are constantly living in its territory or abroad and performing investments in the territory of the state of other Contracting Party.

6. The term "stateless persons" designates - the persons without citizenship who are constantly living in the territory of the state of one Contracting Party, registered according to the legislation of the state of this Contracting Party for conducting business activity and performing investments in the territory of the state of other Contracting Party.

7. The term "income" designates, but is not exclusive - the amounts received as a result of investments as they are determined by this Article, Items 2, of 3, in the form of profit, percent, dividends, royalty, license and commission fees, payments for technical assistance, maintenance and other forms of remunerations.

8. The term "territory" means respectively the territory of the state of the Contracting Party over which the state of this Contracting Party performs the sovereign rights and jurisdiction according to international law.

Article 2. Application of the Agreement

This agreement is applied to investments in the territory of the state of one Contracting Party, the investors of the state of other Contracting Party made according to its legislation irrespective of, they were performed to or after the moment of entry into force of this agreement.

Article 3. Encouragement and protection of investments

1. Each Contracting Party according to the right granted by the legislation of the state will allow and encourage in the territory of the state of investment of investors of the state of other Contracting Party.

2. Within the legislation of the state each Contracting Party will keep various shape of mutual investments and to provide economic cooperation by means of protection in the territory of investments of investors of the state of other Contracting Party.

3. Contracting parties will proceed from need of rendering assistance to the companies with investments of Contracting Parties when implementing by them of direct investments and implementation of multilateral economic projects in the territory of the states of Contracting Parties and in the territory of any third state.

4. If the Contracting Party within this agreement allowed on the territory of the state of investment, then this Contracting Party, according to the legislation of the state, to investors of the state of other Contracting Party will issue the necessary permissions connected with such investments.

Article 4. National treatment and most favored nation treatment

1. Each Contracting Party in the territory of the state and according to its legislation guarantees complete and unconditional legal protection of investments of investors of the state of other Contracting Party.

2. Each of Contracting Parties will provide in the territory of the state to investments and the income of investors of the state of other Contracting Party the fair and equal mode at least favorable, than that mode which it provides to investments and the income of own investors and/or investments and the income of investors of any third state.

3. Each Contracting Party concerning the investments performed by investors of the state of other Contracting Party will observe any obligations which follow from its national legal system and this agreement.

4. Provisions of this agreement concerning most-favored-nation principle shall not be interpreted as the preferential mode of the preferences or privileges following from obliging one of Contracting Parties to extend to investors of the state of other Contracting Party:

i) the custom, currency and payment unions, free trade areas and single tariffs, the total market or any other forms of agreements on regional economic integration existing or possible in the future which member is or there can be one of Contracting Parties;

ii) agreements on avoidance of double taxation or other international agreements on the tax matters.

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