48/1996 Coll.
The COMMUNICATION FROM the
Ministry of Foreign Affairs
Ministry of Foreign Affairs declares that on 11 July. February 1994 was in
Prague agreement signed between the Czech Republic and the Republic of Tajikistan
on the promotion and reciprocal protection of investments.
Parliament gave its assent to the agreement the United States and the President of the
the Republic has ratified it.
The agreement on the basis of article 12, paragraph 1. 1 entered into force on 6.
December 1995.
The Czech version of the agreement shall be published at the same time. In the Russian text of the agreement, which
for its interpretation of the applicable, can be consulted at the Ministry of
Foreign Affairs and the Ministry of finance.
The AGREEMENT
between the Czech Republic and the Republic of Tajikistan on the promotion and mutual
protection of investments
Czech Republic and the Republic of Tajikistan (hereinafter referred to as "the Contracting Parties"),
Desiring to improve the effectiveness of economic cooperation on the principles of
of mutual benefit for both countries, intending to create and maintain
favourable conditions for investments by investors of one State on the territory of the
the other State,
Noting that the promotion and reciprocal protection of investments in accordance with this
the agreement encourages entrepreneurial initiative in this area,
have agreed upon the following:
Article 1
The definition of the
For the purposes of this agreement:
1. The term "investment" refers to all types of assets
invested in accordance with the economic activities of the investor of one
Contracting Party in the territory of the other Contracting Party in accordance with its legal
regulations and shall, in particular, but not limited to:
a) movable and immovable property, as well as all the rights in rem, such as
mortgages, pledges, guarantees and similar rights;
(b)) shares, bonds, deposits by the company or any other forms of participation
on the property of legal entities;
(c) the claim or claims) cash to any activity having
the economic value associated with an investment;
(d)) intellectual property rights, including copyrights, the rights
trade marks, patents, industrial designs, techniques,
know-how, trade secrets, trade names and goodwill associated with the
the investment;
(e)) the rights conferred by law or contract, licence or
the permit issued under the Act, including concessions for exploration, extraction,
the cultivation or use of natural resources.
Any change in the form in which the values are invested does not affect the
their position.
2. the term "investor" means any legal or natural person,
that invests in the territory of the other Contracting Party.
and) the notion of "natural person" means any natural person who is a national
citizenship of either Contracting Party in accordance with its legal system.
b) "legal person" means, with regard to both parties
any company, cooperative, Association, company or
another organization, set up in accordance with the legislation of each Contracting
the parties irrespective of the form of ownership, registered and established
on the territory of one of the Contracting Parties.
3. The term "returns" means the amounts yielded from investments and includes
in particular, profits, interest, capital gains, shares, dividends, licensing
or other charges.
Article 2
The promotion and protection of investments
1. Each Contracting Party shall encourage and create favourable conditions
for investors of the other Contracting Party, to invest in its territory.
2. investments of investors of one Contracting Party will have to ensure the proper and
fair treatment and shall enjoy full protection and security to
the territory of the other Contracting Party.
Article 3
National treatment and MFN clause
1. each Contracting Party shall in its territory for investments and returns
investors of the other Contracting Party treatment which is equal and
equitable and not less favorable than that accorded to investments or
the proceeds of its own investors or investments, or the proceeds
investors of any third State, if it is more convenient.
2. each Contracting Party shall accord to investors of the other party within its territory
the parties, regarding the management, maintenance, use, recovery or disposal
with their investments, treatment which is equal and fair and not
less favourable, than to its own investors or
investors of any third State, if it is more convenient.
3. The provisions of paragraphs 1 and 2 of this article shall be interpreted so that the
one contracting party undertake to provide investors of the other Contracting
by such treatment, benefits or privileges, which may be one of the Contracting
page provide by:
and) a Customs Union or a free trade area or monetary Union or similar
international agreements leading to such unions or other forms of regional
cooperation, of which the Contracting Party is, or may be; or
(b)), an international agreement or Convention relating wholly or mainly
taxation.
Article 4
Compensation for damage
1. If the investment of one Contracting Party suffer damages as a result of the war,
armed conflict, a State of emergency, riot, insurrection, revolt
or other similar events in the territory of the other Contracting Party, shall provide the
This Contracting Party treatment, as regards restitution, compensation
damages, compensation or other settlement, no less favourable than those
shall provide the contracting party to its own investors or to investors
of any third State.
2. Notwithstanding paragraph 1 of this article, the investors of one Contracting
the parties, who, during the events referred to in the preceding paragraph
suffered damage in the territory of the other Contracting Party of:
) and seize their assets, by the armed forces or by an
the other Contracting Party,
(b)) the destruction of their property by the armed forces or by the official authorities of the other
The Contracting Parties, which was not due to combat action or not
invoked when the necessity of the situation,
will be given fair and reasonable compensation for any damage suffered during the
grabbing or as a result of destruction of property. The resulting payments shall be without
delay in freely convertible currency are converted.
Article 5
Expropriation (nationalization)
1. investments of investors of one or the other party will not be
nationalized, expropriated or subjected to measures having similar effect
as nationalization (hereinafter referred to as "nationalization") on the territory of the other Contracting Party with
except where such measures are taken in the public
interest. The nationalization will be done according to the law, on a non-discriminatory
basis and will be accompanied by measures to pay for the rapid, proportionate and
effective compensation. Compensation will correspond to the actual value of the nationalized
the investment immediately before the nationalization, or intended
the nationalization has become publicly known. The refund will be paid without
undue delay in a freely convertible currency, will be freely transferable and
will include interest from the date of nationalization.
2. The investor has the right to request an urgent review of its
the case and the assessment of its investments to the judicial or other independent
authority of a Contracting Party in accordance with the principles contained in this article.
3. The provisions of paragraph 1 of this article shall also apply to cases where the
A Contracting Party would nationalize the assets of the legal person, who has been
registered or established in accordance with the applicable laws and regulations in the
any part of its own territory, has a permanent Office in one of the
The Contracting Parties, in which investors own their shares.
Article 6
Transfers
1. the Contracting Parties shall ensure that the transfer payments related to investments or
revenue. Transfers will be made in freely convertible currency without restriction and
unnecessary delay. Such transfers shall include, but not
exclusively:
and) capital and additional amounts to maintain or increase the investment;
(b)) gains, interest, dividends and other current income;
(c) the amount of the repayment of loans);
d) license or other fees;
e) proceeds from the sale or liquidation of the investment;
f) income of individuals in accordance with the legislation of the Contracting Party in
whose territory the investment is made.
2. for the purposes of this agreement, will be used as the conversion rates
the official exchange rates for common transactions valid as of the date of transfer, if the
The Contracting Parties agree otherwise.
Article 7
Assignment of rights
1. If a Contracting Party or its designated agency makes a
the payment of its own investor because of the guarantees given by the
relation to an investment in the territory of the other Contracting Party, the other Contracting
page:
and the assignment of all rights) or entitlements for the investor to a Contracting Party, or
It empowered the Agency, whether a transfer has occurred in accordance with the law or to the
the basis of the legal proceedings in this country, as well as in the case
(b)) that the Contracting Party or its designated agency is by way of referral
rights shall be entitled to exercise the rights and claims of the investor and to float
assume the commitments relating to the investment.
2. The assignee's rights or claims shall not exceed the rate of indigenous rights or
claims of the investor.
Article 8
Settlement of investment disputes between a Contracting Party and an investor of the other Contracting
the parties
1. any dispute which may arise between an investor of one Contracting
the parties and the other Contracting Party in connection with investments in the territory of
of that other party, will be the subject of negotiations between the parties in the
the dispute.
2. If a dispute between an investor of one Contracting Party and other Contracting
a party will not be settled as follows at the time of six months, the investor is entitled to
submit the dispute to discuss, either:
and the International Centre for) settlement of investment disputes (ICSID)
taking into account the applicable provisions of the Convention on the settlement of investment disputes
between States and nationals of other States, opened for signature in Washington, D.
(C) 18. March 1965, in the case that each Contracting Party is a party
of this Convention; or
(b)) the arbitrator or to the International Court of arbitration set up by ad hoc,
nominated in accordance with the conciliation rules of the United Nations Commission
Nations for international trade law (UNCITRAL). The parties to the dispute
may in writing agree modifications to these rules. The arbitration award will be
final and binding to both parties in a dispute.
Article 9
The resolution of disputes between the Contracting Parties
1. disputes between the Contracting Parties concerning the interpretation or application of the
This agreement shall be, if possible, resolved through consultations or
negotiations.
2. If the dispute cannot be resolved within six months, will be on the
the request of either contracting party be submitted to an arbitration tribunal.
3. the arbitral tribunal shall be established separately for each individual case.
Each Contracting Party shall designate one arbitrator within two months of the
receipt of the request to refer the dispute to an arbitral tribunal for hearing. These two
the arbitrator then selects a citizen of a third State, that will be with the consent of both
Of the parties appointed President of the Court (hereinafter referred to as "the Chairman").
The Chairman shall be appointed within three months from the date of the appointment of the two arbitrators.
4. If the time limits referred to in paragraph 3 of this article are not complied with,
may be asked the President of the International Court of Justice, to carry out an
the necessary appointment. If the President is a citizen of either Contracting Party, or
the appointment cannot be made from other causes, the parties will appoint a
Vice-Chairman. If it is also Vice-Chair of the citizen of a Contracting Party
or cannot be named, will be making the necessary nomination asked
the oldest Member of the International Court of Justice who is not a citizen of any
The Contracting Parties.
5. the Arbitration Tribunal shall adopt its decisions by a majority vote. Such
the decision is binding. Each Contracting Party shall pay the costs associated with the
the activities of the appointed arbitrator and of its participation in the arbitration proceedings, the costs
associated with the activities of the President of the Court and other costs will be covered by
The Contracting Parties in equal shares. The arbitral tribunal itself determines the
rules of procedure for all other questions.
Article 10
The use of other provisions and specific commitments
1. in the event that any problems will be dealt with under this agreement and any other
the international agreement which the parties are both Contracting Parties,
This agreement does not preclude the provisions that are
more favourable.
2. If the treatment granted by either party to investors
the other Contracting Party in accordance with its legal regulations or other
special contractual provisions is more favourable than that
provided for in this agreement, will be used this more favourable treatment.
Article 11
The applicability of this agreement
This agreement shall apply to all investments made by a
investors of one Contracting Party in the territory of the other Contracting Party upon its
entry into force, including those that were made earlier.
Article 12
Entry into force, duration and termination
1. each Contracting Party shall notify the other party in fulfilment of the constitutional
the requirements for the entry into force of this agreement. This agreement shall enter
force on the date of the second notification.
2. this agreement is concluded for a period of ten years. Its validity will be
automatically extended where one of the parties in written form
notifies the other Contracting Party one year before the expiry of the initial
or any subsequent period of its intention to terminate the
The agreement.
3. for investments made before the expiry of this agreement,
the provisions of this agreement will remain effective for a period of ten years from the date of
their validity.
In witness whereof the undersigned, duly authorised thereto, have signed this agreement.
Done in Prague on 11. February 1994 in two original copies, in the
Czech, English, Tajik and Russian languages, all three texts have
the same force. In case of different interpretation of the text of this agreement will be
a critical text in the Russian language.
For the Czech Republic:
Vladimir Rudlovčák in r.
Deputy Minister of finance
In the Tajik Republic:
Izatullo Chaeev in r.
Minister of external economic relations
