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Agreement between the Government of the Kyrgyz Republic and Government of the Republic of Belarus on assistance to implementation and mutual protection of investments

of March 30, 1999

The government of the Kyrgyz Republic and the Government of the Republic of Belarus, hereinafter referred to as "Contracting parties",

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

wishing to create favorable conditions for increase in investments of investors of one state in the territory of other state,

understanding that assistance to implementation and mutual protection of these investments in connection therewith the international treaty will promote development of business initiative and prosperity in both states,

agreed as follows:

Article 1 of Determination

For the purposes of this agreement the terms below will have the following value:

1. "Investor" means:

Concerning the Kyrgyz Republic:

a) physical persons who according to the legislation of the Kyrgyz Republic are citizens of the Kyrgyz Republic and who perform investments in the territory of the Republic of Belarus;

b) the legal entities who are appropriately created or founded according to the legislation of the Kyrgyz Republic also have the location, and also perform the actual economic activity in the territory of the Kyrgyz Republic and which perform investments in the territory of the Republic of Belarus.

Concerning the Republic of Belarus:

a) physical persons who according to the legislation of the Republic of Belarus are citizens of the Republic of Belarus and who perform investments in the territory of the Kyrgyz Republic;

b) legal entities, including the companies, economic associations and other unions or the organizations which are appropriately created or founded according to the legislation of the Republic of Belarus also have the location, and also perform the actual economic activity in the territory of the Republic of Belarus and which perform investments in the territory of the Kyrgyz Republic.

2. "Investments" are meant by any kind of property which is property of physical person or legal entity of one Contracting Party which invests in the territory of other Contracting Party according to the legislation of the last Contracting Party and includes, in particular, but not only:

a) personal and real estate and any other property rights such as mortgage, property right to retain, pledge;

b) shares, shares, bonds and any other forms of participation in legal entities;

c) rights to claim concerning money or any obligation fulfillment under the agreement which have any economic value;

d) the intellectual property rights, including goodwill (goodwill), copyright, patents, trademarks, industrial designs, engineering procedures, trade names and know-how.

e) the rights to implementation of economic activity, including the rights to investigation, production or operation of natural resources, and also all other rights which are granted by the legislation, agreements or the decision of competent authority according to the legislation.

Any change of form in which the property is invested does not affect its nature as investments; and the term "investments" includes all investments irrespective of when they were performed according to Article 12 of this Agreement - to or after entry into force of this Agreement.

3. "Income" means the amounts received by means of any investments and, in particular, but not only, includes profit, percent, dividends, payments on account of royalty and other remunerations of similar nature.

4. "Legislation" concerning any Contracting Party means the legislation of the state of the corresponding Contracting Party.

5. "Territory" means the territory of the relevant state in which this state performs the sovereign rights or in jurisdiction of which it is according to international law.

6. "Requisition" means alienation of one Contracting Party of part by the authorities or all investments of the investor of other Contracting Party in the state or public concerns and in sense of this Agreement is not considered as the sanction for violation of the law.

Article 2 Assistance to Implementation and protection of investments

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

2. The fair and equal mode, and also complete and unconditional legal protection in the territory of other Contracting Party according to this agreement will be provided to investments of investors of each of Contracting Parties steadily. Each of Contracting Parties not interfere by acceptance of unreasonable or discriminatory measures with management, maintenance, use or the order of investments in the territory of investors of other Contracting Party. Each of Contracting Parties shall observe any obligation undertaken in relation to investments of investors of other Contracting Party.

Article 3 Mode of Investments

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

2. Each of Contracting Parties shall provide in the territory to investors of other Contracting Party in that, as for management, maintenance, use or the order of their investments, the mode, at least favorable, than that which it provides to own investors or investors of any third state.

3. The mode provided by the above Items 1 and 2, will be applied to provisions of Articles 1-11 of this agreement.

Article 4 of the Exception

1. The provision of this agreement concerning provision of the mode, is at least favorable, than that which is provided to own investors or investors of any third state shall not be interpreted as obliging to extend one of Contracting Parties to investors of other Contracting Party of benefit of any modes, preferences or privileges following from:

a) any free-trade agreement existing or possible in the future, custom or economic union, or other similar regional organization which party is or there can be in the future one of Contracting Parties, or

b) any international treaty or the arrangement relating completely or mainly to the taxation or any internal legal acts on these questions.

Article 5 Indemnification

1. To investors of one Contracting Party, whose investments in the territory of other Contracting Party suffered losses owing to war or other armed conflict, revolution, the state emergency state, revolt, mutiny or conflicts taking place in the territory of other Contracting Party, other Contracting Party provides the mode, at least favorable, than that which other Contracting Party provides to own investors or investors of any third state in that, as for recovery, indemnification, compensation or other settlement.

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