The Agreement On The Promotion Of Investment, With Tajikistan

Original Language Title: Dohoda o podpoře investic s Tádžikistánem

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48/1996 Coll.


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.


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


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


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


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


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


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

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