The Saeima has adopted and the President promulgated the following laws: For the Government of the Republic of Latvia and the Government of Ukraine to the Treaty on mutual investment promotion and protection, article 1. 24 July 1997 signed by the Government of the Republic of Latvia and the Government of Ukraine on mutual investment promotion and protection (hereinafter contract) with this law is adopted and approved. 2. article. The law shall enter into force on the date of its promulgation. To put the contract in law Latvian and English. 3. article. The agreement shall enter into force for the period specified in article 12 and in order, and on the Ministry of Foreign Affairs notified the newspaper "journal". The Parliament adopted the law of 1 October 1997. The President g. Ulmanis in Riga in 1997 on 15 October For the Government of the Republic of Latvia and the Government of Ukraine, the agreement on investment promotion and protection between the Government of the Republic of Latvia and the Government of Ukraine, the agreement on investment promotion and protection between the Government of the Republic of Latvia and the Government of Ukraine (hereinafter referred to as the "Contracting Parties"), desiring to intensify economic cooperation of the two countries in the interest of mutual benefit, seeking to create and maintain favourable conditions for investors in one country to invest in the territory of the other knowing the investment promotion and reciprocal protection under this agreement will stimulate business initiatives in this area, have agreed as follows: article 1 definitions for the purposes of this agreement: 1. The term "investment" covers all assets, which form the economic operation of the investors of one Contracting Party are invested in the territory of the other Contracting Party in accordance with the Contracting Parties to the other laws and regulations, and in particular, but not limited to, include :/a/of movable and immovable property and any other property rights "in rem", such as mortgages, mortgage bonds, values, hassle and similar rights; /b/company shares, shares, bonds without collateral or any other kind of participation in companies; /c/property claims or claims about the performance that has economic value associated with an investment; with the investment related/d/intellectual property rights, including copyrights, trademarks, patents, industrial designs, technologies, know-how, trade secrets, trade names, and "good-will"; all right,/e/granted under the law or in accordance with the agreement and any statutory licenses and permissions, including concessions on natural resources prospecting, extraction, cultivation and use. Any change in the form in which assets are invested does not affect their character as investments, provided that these changes are made according to the legislation of the Contracting Party in whose territory the investment is made. 2. The term "investor" means any natural or legal person who carries out an investment in the territory of the other Contracting Party. a/the term "natural person" means any natural person who is a national of a Contracting Party in accordance with its laws; b/the term "legal person" in relation to one or other contracting party means any entity that is registered or established and recognised as a legal person, in accordance with its laws. 3. The term "earnings" means the amount of investment made, and in particular, but not exclusively, include profits, interest, capital gains, stock options, dividends, fees or charges by the author. 4. The term "territory" means: (a)/for the Republic of Latvia, the Republic of Latvia's territory, including the territorial waters and underwater subsoil, over which the Republic of Latvia to exercise their sovereign rights in that area of the seabed and subsoil and their natural resources in accordance with international law. b/for Ukraine — its sovereign territory, as well as maritime and underwater areas where Ukraine, in accordance with international law, exercises its sovereignty, sovereign rights and jurisdiction. Article 2 promotion and PROTECTION of investments 1 each Contracting Party shall promote in its territory and will create favourable conditions for investors of the other Contracting Party in its territory for investments and adopt such investments in accordance with its laws and regulations. 2. each Contracting Party applicable to the investments of investors always honest and fair treatment and guaranteed full protection and security in the territory of the other Contracting Party. Article 3 national and most-favoured-nation treatment 1. each Contracting Party shall apply in its territory the fair and just treatment to investors of the other Contracting Party of the contribution and the income that is no less favourable than the most favourable one that it suits your investment and income of investors or investors of any third State investments and income. 2. each Contracting Party by the other Contracting Party in its territory by investors will apply the fair and just treatment for their contribution to the management, maintenance, use, or transfer, which is no less favourable than the most favourable from those which it applied of its own investors or investors of any third State. 3. the provisions of this agreement are not interpreted as obliging one Contracting Party the obligation to guarantee the investors of the other Contracting Party of the benefits deriving from any mode, benefits, or privileges granted the first Contracting Party exercising:/a/any Customs Union or free-trade area or monetary Union or a similar international agreements that aim at the creation of such a Union or institution, or other forms of regional cooperation for which the parties are or can become one or the other Contracting Party; /b/of any international treaty or agreement which wholly or mainly apply to taxation. Article 4 compensation for damage 1. If one or other of the Contracting Parties to investments of investors of the war damage is caused by armed conflict, State of national emergency, insurrection, coup, public peace and order problems or other similar events in the territory of the other Contracting Party, the other Contracting Party those warrants such treatment as regards restitution, damages, compensation or other settlement mechanism, which will not be less favourable than the regime that this the other Contracting Party to its own investors or guaranteed third-country investors. 2. Without prejudice to paragraph 1 of this article the provisions defined in one of the Contracting Parties to those investors that are in any of the cases referred to in this paragraph, suffers a loss in the territory of the other contracting party due to the fact that:/a/its forces or of the competent national authorities have rekvizējuš their property, its armed forces or/b/for the competent national authorities have implemented the destruction of their property, which was not due to the pattern of combat or situation created a need , adequate and effective compensation for damages that arise in the course of the requisition or destruction of property. Compensatory payments must be freely transferable without delay in freely convertible currencies. Article 5 expropriation 1. investors of one Contracting Party is not a contribution to nacionalizējam, ekspropriējam or subject such coercive measures in the territory of the other Contracting Party, which is the same as the nationalization or expropriation (hereinafter referred to as "expropriation"), except when it is done in the public interest. Expropriation shall be carried out in accordance with the procedure laid down in the law, without any discrimination, and their implementation, are guaranteed immediate, adequate and effective compensation. The amount of such compensation shall be equal to the market value of the expropriated investment immediately before the expropriation was on or before the time when were openly announced the impending expropriation. The amount of the refund will include interest calculated in accordance with the London interbank (LIBOR) kredītlikm from the date of expropriation, it shall be paid without delay, it must be effectively realizable and freely transferable in freely convertible currency. 2. The victim is entitled to the investor that the expropriation in accordance with the law of a Contracting Party, the Contracting Parties of this judicial or other independent authority shall immediately examine the matter and she appreciated his contribution in accordance with the principles defined in this article. 3. paragraph 1 of this article, the terms also apply to cases where one Contracting Party ekspropri on the company's property with legal personality or established under any part of its territory, the laws in force and in which investors of the other Contracting Party own shares. Article 6 transfers 1. the Contracting Parties shall guarantee the free transfer of payments related to investments and their income. Transfers shall be made in freely convertible currency without restrictions and unjustified delays. Such payment category in particular, but not exclusively, includes: paid capital contribution of/a/and the maintenance of or increase in it; /b/profits, interest, dividends and other current income; /c/reimbursement; author royalties or/d/; proceeds from the sale of the investment/e/or liquidation; /f/income of natural persons for work in accordance with the law of the Contracting Party and the provisions in the territory of which the investment is made; /g/compensation provided for under articles 4 and 5. 2. the meaning of this agreement on exchange rates is considered the overriding commercial courses, which are in force at the date of transfer with respect to current transactions, unless otherwise agreed. 3. payment transfers are considered to be performed without "undue delay", referred to in paragraph 1 of this article if they have taken the time needed for such a transfer. This time period may not, under any circumstances, exceed three months. Article 7 the transfer of rights 1. If one Contracting Party or its designated agency makes a payment to its investors under a guarantee given in respect of an investment in the territory of the other Contracting Party, the contracting party acknowledges that: any investor claims/a/takes over, either by law or on the basis of a legitimate business in the country, the first Contracting Party or its designated institution and that/b/first Contracting Party or its authorized institution , taking over the rights of the investor, the investor is entitled to exercise this right and to bring its claims and commitments for this investment. 2. Take over the rights and claims shall not exceed the original investors rights or claims. Article 8 investment-related disputes arising BETWEEN ONE Contracting Party and an INVESTOR of the other Contracting Party of 1. Any disputes which may arise between an investor of one Contracting Party and other contracting party due to investments in the territory of the other Contracting Party, to seek to resolve the dispute by the parties involved in the negotiation. 2. If any dispute between an investor of one Contracting Party and other Contracting Party can in this way to pass within six months from the date of submission of a written complaint, the investor has the right to put these proceedings: international investment/a/dispute resolution Centre (ICSID) Convention "on investment related to the settlement of disputes between States and nationals of other States", which was opened for signature in Washington, 18 March 1965 in If both contracting parties become parties to this Convention; or an arbitrator or/b/international emergency tribunal, established by the United Nations Commission on international trade law (UNCITRAL) arbitration rules. The parties to the dispute may agree in writing to this amendment. 3. any dispute submitted to arbitration in accordance with the emergency 2. point (b), are dealt with in accordance with the terms of this agreement and if it is not specified in this agreement, in accordance with the generally accepted principles of international law. 4. The arbitration award shall be final and binding to both parties to the dispute. Article 9 SETTLEMENT of disputes the parties 1. disputes between the Contracting Parties relating to the interpretation and application of this agreement, should be possible in trying to resolve the consultation and negotiation. 2. If the dispute is not the completion of the six months, then after one or the other Contracting Party, it is a candidate for the settlement to arbitration in accordance with the provisions of this article. 3. The Tribunal shall in respect of each individual case are formed in the following way. In the two months since the launch of the arbitration request the receipt of each Contracting Party shall appoint one member of the Court. These two members of the Court and then choose a third country national who is designated as the President of the Court of Justice (hereinafter referred to as the "Chairman") provided that the consent of both Contracting Parties. The President must mean three months since two of the other members of the Court of the appointment date. 4. If the necessary appointments have not been made in paragraph 3 of this article in the times, then asking you to do these assignments may be made to the United Nations the President of the International Court of Justice. If the President is of one or other of the Contracting Parties, or if they have other obstacles for the execution of that function, and then asking you to do these assignments come to Vice President. If the Vice President is of one or other of the Contracting Parties, or they have other obstacles for the execution of that function, then the request to make the necessary assignments can be made that the next highest ranking member of the UN International Court of Justice who is not a citizen of a Contracting Party. 5. The arbitral tribunal shall decide in accordance with the majority. Such decision shall be binding on both Contracting Parties. Each Contracting Party shall bear its own Member and of its representation in the arbitration costs of arbitration proceedings; The President's costs and other costs equally borne by the two Contracting Parties. The Arbitration Board may, however, decide that most of the costs are borne by one of the Contracting Parties. The Tribunal shall establish its own procedural rules. Article 10 the application of the other provisions 1. If a matter is regulated at both this agreement and any other international treaty, which is a member of both Contracting Parties, nothing in this agreement prevents one or the other Contracting Party or any of those contributors who have made investments in the territory of the other Contracting Party, be applied to the cases in question at favourable terms. 2. If the mode where one contracting party warrants to investors of the other Contracting Party in accordance with its laws and regulations or other specific provisions of the contract, is more favourable than under this Agreement guaranteed mode, then you must apply the most advantageous one. Article 11 application of the agreement this Agreement shall apply to investments that are in the territory of one of the Contracting Parties will take the investors of the other Contracting Party, as well as future investments that exist under both parties, the laws and regulations of this agreement enters into force, but is not applicable to any with any investment-related disputes that arose before its entry into force, or any claim, which was granted before its entry into force. Article 12 entry into force of the order, the duration and termination 1. each Contracting Party shall submit written notification to the other Contracting Party of its legislation requirements, completion, necessary for the Treaty to take effect. The contract shall enter into force on the date of the second notice. 2. the contract is valid for ten years and then remain in force for twelve months since one Contracting Party written notice of termination to the other Contracting Party. 3. in respect of investments made prior to the termination of this agreement, its provisions remain in force in respect of such investments a decade after that date and shall in no way affect the generally accepted rules of international law. THIS, being duly authorized representatives of the respective Governments, have signed this agreement. Signed in two originals in Riga, July 24, 1997 in Latvian, Ukrainian and English languages, each text being equally authentic. Any explanation in the event of disagreement, the English text shall prevail.

The Government of the Republic of Latvia in Ukraine on behalf of the Government of Valdis Birkavs of LATVIA, Alexei Goncharov, Foreign Minister of external economic relations and trade Deputy Minister of agreement between the Government of the Republic of Latvia and the Government of Ukraine for the Promotion and Reciprocal Protection of investments the Government of the Republic of Ukraine and the Government of Latvia (hereinafter referred to as the "Contracting Parties") To intensify economic cooperation (menu Rngton Line4), to the mutual benefit of both States, Intending to create and maintain a favourabl condition for investments of investors of one State in the territory of the other State, conscious that the promotion and reciprocal protection of investments, according to the present agreement, the business initiative of stimulat's in this field, have agreed as follows: article 1 DEFINITION For the purpose of this agreement : The term "investment" shall in every kind of compris asset invested in connection with economic activities by an investor of one Contracting Party in the territory of the other Contracting Party in accordanc with the laws and regulations of the latter and shall include, in particular, though not exclusively:/a/movable and immovabl property as well as any other property rights such as mortgages in rem , lien, pledge, and similar rights; /b/, stock and debentur shares of companies or any other form of participation in a company; claims to money or/c/to any performance having an economic value associated with an investment; /d/intellectual property rights, including copyrights, trade and service marks, patents, industrial design, technical processes, know-how, trade secrets, trade names and goodwill associated with an investment; /e/any right conferred by law or under the provisions of the contract and any licenses and permit of the law, including pursuan the concession to search for, extract, or exploit cultivat natural resources. Any alteration of the form in which assets are invested shall not be their character as investment affec provided that such an alteration is made in accordanc with the law of the Contracting Party in the territory of which the investment has been made. 2. The term "Investor" shall mean any natural or legal person who invest in the territory of the other Contracting Party. a/the term "natural person" shall mean any natural person having the nationality of either Contracting Party in accordanc with it law; b/the term "legal person" shall mean with respect to either Contracting Party, any entity incorporated or constituted in accordanc with recognized as legal persons, and, by its law. 3. The term "returns" shall mean the United Nations yielded by non investment and in particular, though not exclusively, includes profits, interest, capital gains, share, dividend, or to fees royalt. 4. The term "territory" shall mean: a/in the case of Ukraine, the territory under its sovereignty and the sea and submarine areas over which the Ukraine exercises in conformity with international law, sovereignty, sovereign rights or jurisdiction. b/in the case of the Republic of Latvia, the territory of the Republic of Latvia including the territorial sea, as well as any maritime area beyond that where the Republic of Latvia in conformity with international law exercises sovereign rights with regards to the seabed and subsoil and the natural resources of such areas. Article 2 PROMOTION AND PROTECTION OF investments 1. Each Contracting Party shall create a favourabl encourag and conditions in its territory for investments of investors of the other Contracting Party and shall be admi, such investments, in accordanc with its laws and regulations. 2. Investments of investors of either Contracting Party shall at all times be accorded fair and equitable treatment and shall enjoy full protection and security in the territory of the other Contracting Party. Article 3 NATIONAL AND most-FAVOURED-NATION treatment Each Contracting Party shall 1 in its territory accord to investments and returns of investors of the other Contracting Party treatment which is fair and equitable and not less than that which it favourabl accord to investments and returns of its own investors or their investments and return of investors of any third State whichever is more favourabl. 2. Each Contracting Party shall in its territory accord to investors of the other Contracting Party, as regards management, maintenance, use, or disposal of their enjoymen investment, a treatment which is fair and equitable and not less than that which it favourabl accord to its own investors or of any third State, whichever is more favourabl. 3. The provision of the present Agreement shall not be construed so as to comp one Contracting Party to extend to the investors of the other the benefit of any treatment, preference or privilege which may be extended by the former Contracting Party by virtue of: any custom union or/a/free trade area or a monetary union or similar international agreements leading to such unions or institutions or other forms of regional cooperation to which either of the Contracting Party is or may become a Party; /b/any international agreement relating wholly or mainly to or through their taxation. Article 4 COMPENSATION FOR LOSS 1. When investments by investors of either Contracting Party suffer the loss of their wars, armed conflict Owings, a State of national emergency, revolt, insurrections, riot or other similar events in the territory of the other Contracting Party, they shall be accorded by the latter Contracting Party the treatment, as regards restitution, indemnification, compensation or other settlement, not less than a favourabl that which the latter Contracting Party to its own investors accord or the investor of any third State. 2. Without projudic to paragraph 1 of this article, the Contracting Party of the investor, one who in any of the events referred to in that paragraph suffer loss in the territory of the other Contracting Party resulting from:/a/requisitioning of their property by force or its authorities, the destruction of their property by/b/it forces or authorities which was not caused in combat action or was not required by the cessity of the situation shall not be accorded just and an adequat compensation for the loss sustained by the during the period of the requisitioning or as a result of the destruction of the property. Resulting payments shall be freely convertible currency freely in transferabl without delay. Article 5 EXPROPRIATION 1. Investments of investors of either Contracting Party shall not be expropriated, nationalised or subjected to measure having effect equivalent to the nationalisation or expropriation (hereinafter referred to as "expropriation") in the territory of the other Contracting Party except for a public purpose. The expropriation shall be carried out under due process of law, on a non-discriminatory basis and shall be accompanied by provision for the payment of prompt, and effective compensation adequat. Such compensation shall amount to the market value of the expropriated investment immediately before the expropriation or impending expropriation the become public knowledge. The compensation shall include interest calculated on the LIBOR basis from the date of expropriation, shall be made without delay, shall be effectively realizabl and shall be freely convertible currency freely in transferabl. 2. The investor affected shall have a right, under the law of the Contracting Party making the expropriation, to prompt review, by a judicial or other independent authority of that Party, of its case and of the valuation of its investment in accordanc with the principles set out in this article. 3. The provision of paragraph 1 of this article shall also apply where a Contracting Party expropriat the assets of a company which is incorporated or constituted under the law in force in any part of its own territory, and in which investors of the other Contracting Party own shares. Article 6 TRANSFER 1. The Contracting Parties shall guarantee the free transfer of payments related to investments and return. The transfers shall be made in a freely convertible currency, without any restriction and delay of the undu. Such transfers shall include in particular, though not exclusively:/a/and additional non it capital maintain or increase the investment, profits, interest,/b/dividend and other current income; /c/funds in repaymen of loans; royalt to/d/or fe; /e/proceed of sale or liquidation of the investment; /f/the earnings of natural persons subject to the law and regulations of that Contracting Party where investments have been made; /g/compensation provided for in article 4 and 5.2. For the purpose of this agreement, the exchange rate shall be the prevailing commercial rate effective for current transactions at the date of transfer, unless otherwise is agreed. 3. Transfers shall be considered to have been made without any "undu-delay" in the sense of paragraph 1 of this article when they have been made within the period normally not cessary for the completion of the transfer. Such period shall under from 12 of three months circumstanc. Article 8 SUBROGATION If a Contracting Party 1 or its designated agency makes a payment to its own investors under a guarantee it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:/a/the assignment, whethers under the law or to a legal transaction in pursuan that country, of any right or claim by the investor to the former Contracting Party or its designated agency , as well as, the/b/that former Contracting Party or its designated agency is entitled by virtue of subrogation it exercise the rights and enforce the claims of that investor and shall assume the obligations related to the investment. 2. The subrogated rights or claims shall not exceeds 100 the original rights or claims of the investors. Article 8 settlement OF investment DISPUTE BETWEEN A CONTRACTING PARTY AND of AN INVESTOR OF the OTHER CONTRACTING PARTY 1. Any dispute which may «arise between an investor of one Contracting Party and the other Contracting Party in connection with an investment on the territory of the other Contracting Party shall be a subject to negotiation between the parties to the dispute. 2. If any dispute between an investor of one Contracting Party and the other Contracting Party cannot be settled within a period of of the six months from the date of written notification of a claim shall be entitled to the investor to submit the case either it: the International Centre/a/for settlement of investment Dispute (ICSID) having regard to the applicable provision of the Convention on the settlement of investment Dispute between the States and nationals of other States opened for signature at Washington D.C. on 18 March 1965, in the event both Contracting Parties shall have become a party to this Convention; or an international ad hoc arbitrator or/b/CAs tribunal established under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL). The parties to the dispute may agree in writing to modify these rules. 3. Any dispute which is referred to ad-hoc arbitration in accordanc with paragraph 2 (b) above shall be decided in accordanc with the provision of this agreement and where this agreement does not so provide, in accordanc with generally recognised principles of international law. 4. The CAs shall be final and binding awards on both parties to the dispute. Article 9 settlement OF the DISPUTE BETWEEN the CONTRACTING parties of the Dispute between 1 the Contracting Parties concerning the interpretation or application of this Agreement shall, if possible, be settled through consultation or negotiation. 2. If the dispute cannot be settled within six months of the, it shall upon the request of either Contracting Party, be submitted to the UN Tribunal in accordanc Cas with the provision of this article. 3. The Tribunal shall be constituted for each Cas individual case in the following way. Within two months of the receipt of the request for arbitration, each Contracting Party shall be appoin one member of the Tribunal. These two members shall then select a national of a third State who on approval of the two Contracting Parties shall be appointed Chairman of the Tribunal (hereinafter referred to as the "Chairman"). The Chairman shall be appointed within three months from the date of appointment of the other two members. 4. If within the periods specified in paragraph 3 of this article the cessary appointments have not been made, a request may be made to the President of the International Court of Justice to make the appointments. If he happens to be a national of either Contracting Party, or if he is otherwise prevented from discharging the said function, the Vice-President shall be invited the President to make the appointments. If the Vice-President also happens to be a national of either Contracting Party or is prevented from discharging the said function, the member of the International Court of Justice next in seniority who is not a national of either Contracting Party shall be invited to make the appointments. 5. The Tribunal shall reach its decision Cas by a majority of votes. Such decision shall be binding on both Contracting Parties. Each Contracting Party shall bear the cost of its own member of the tribunal and its representation in the CAs proceedings; the cost of the Chairman and the remaining costs shall be borne in equal parts by both Contracting Parties. The Cas Tribunal may, however, in its decision direct that a higher proportion of costs shall be borne by one of the two Contracting Parties, shall be binding and this award on both Contracting Party. The Cas Tribunal shall it will determin own procedure. Article 10 APPLICATION OF OTHER rules AND SPECIAL COMMITMENT 1. Where a matter is governed simultaneously both by this agreement and by another international agreement to which both Contracting Parties are parties, nothing in this Agreement shall prevent either Contracting Party or any of its investors who own investments in the territory of the other Contracting Party from taking advantage of whichever rules with more favourabl to his case. 2. If this treatment to be accorded by one Contracting Party to investors of the other Contracting Party in accordanc with its laws and regulations or other specific provision of contracts is more than a favourabl that accorded by the agreement, the authority shall be accorded the more favourabl. Article 11 APPLICABILITY OF this AGREEMENT to the provision of this Agreement shall apply to future investments made by investors of one Contracting Party in the territory of the other Contracting Party, and also to the existing investments in accordanc with the laws and regulations of the Contracting Parties on the date of this agreement comes into force, but shall not apply to any dispute concerning an investment which aros is or any claim, which was settled before its entry, into force. Article 12 ENTRY into force, DURATION AND TERMINATION 1. Each of the Contracting Parties shall notify the other in writing of the completion of the required constitutional formalit to in it territory for the entry into force of this agreement. This agreement shall enter into force on the date of the second notification. 2. This agreement shall remain in force for a period of ten years. Thereafter it shall continue to be in force until the expiration of twelve months from the date on which either Contracting Parties shall have given written notice of termination to the other. 3. In respect of investments made prior to the termination of this agreement, shall continue its provision is in effect with respect to such investments for a period of ten years after the date of termination and without prejudice to the application thereafter of the rules of general international law. In WITNESS WHEREOF, the undersigned duly authorized by the by the Governments of their respectiv theret, have signed this agreement. Done in duplicate at Riga, this 24th day of July, 1997, in Ukrainian, Latvian and English languages, all texts being equally authentic. In case of any divergenc of interpretation, the English text shall prevails.

For the Government For the Government of the Republic of Latvia of Ukraine