Key Benefits:
The President of the Republic,
On the report of the Prime Minister and the Minister for Foreign Affairs,
Given Articles 52 to 55 of the Constitution;
Law No. 2004-496 of 7 June 2004 authorising the approval of the Agreement between the Government of the French Republic and the Government of the Republic of Tajikistan on the Promotion and Reciprocal Protection of Investments, signed in Paris on 4 December 2002 ;
In view of the amended Decree No. 53-192 of 14 March 1953 on the ratification and publication of international commitments entered into by France;
In view of Decree No. 67-1245 of 18 December 1967 on the publication of the Convention for the Settlement of investment disputes between states and nationals of other States of 18 March 1965,
Clipping:
Agreement between the Government of the French Republic and the Government of the Republic of Tajikistan on The mutual encouragement and protection of investments, signed in Paris on 4 December 2002, will be published in the Official Journal of the French Republic.
The Prime Minister and the Minister for Foreign Affairs shall each have responsibility for the execution of this Decree, which shall be published in the Official Journal of the French Republic.
A C C O R D
BETWEEN THE GOVERNMENT OF THE FRENCH REPUBLIC AND THE GOVERNMENT OF THE REPUBLIC TAJIKISTAN ON THE ENCOURAGEMENT AND RECIPROCAL PROTECTION OF INVESTMENTS
The Government of the Republic of Tajikistan and the Government of the French Republic, hereinafter referred to as " Contracting Parties ",
Desirous of Strengthen economic cooperation between the two states and create favourable conditions for French investment in Tajikistan and Tajikistan in France,
Persuaded that the encouragement and protection of these investments are specific to To stimulate capital and technology transfers between the two countries, in the interests of their economic development,
have agreed to the following provisions:
Article 1
Definitions
For the purposes of this Agreement:
1. The term " Investment " Means all assets, such as property, rights and interests of all kinds and, more specifically but not exclusively:
(a) Moveable and immovable property, as well as any other real rights, such as Mortgages, privileges, usufruits, suretyships and any similar rights;
(b) Shares, incentives and other forms of participation, whether or not minority or indirect, of companies incorporated in the territory of one of the Parties Contracting;
(c) Obligations, claims and rights to all benefits having economic value;
(d) Intellectual, commercial and industrial property rights such as copyright, patents for inventions, licenses, Trademarks, industrial models and models, technical processes, know-how, registered names and customers;
e) Concessions granted by law or under contract, including concessions relating to Prospecting, cultivation, extraction or exploitation of natural resources, including those in the maritime zone of the Contracting Parties.
It is understood that the said assets must be or have been invested in accordance with the Legislation of the Contracting Party in the territory or in the maritime area of which the investment is made, before or after the entry into force of this Agreement.
No change in the form of investment of the assets shall affect Their investment qualification, provided that this amendment is not contrary to the law of the Contracting Party in the territory or in the maritime area of which the investment is made.
2. The term " National " Means natural persons possessing the nationality of one of the Contracting Parties.
3. The term " Corporations " Means any legal person incorporated in the territory of one of the Contracting Parties, in accordance with the law of that Contracting Party and having its registered office, or controlled directly or indirectly by nationals Of one of the Contracting Parties, or by legal persons having their registered office in the territory of one of the Contracting Parties and constituted in accordance with the law of that Contracting
. The term " Income " Means all amounts produced by an investment, such as profits, royalties or interest, over a specified period of time.
Investment income and, in the case of reinvestment, income from the investment Reinvestment has the same protection as investment.
5. This Agreement shall apply to the territory of each Contracting Party and to the maritime zone of each Contracting Party, hereinafter defined as the economic zone and the continental shelf which extends beyond the limit of the Territorial waters of each Contracting Party and on which they have, in accordance with international law, sovereign rights and a court for the purpose of prospecting, exploitation and preservation of resources
6. Nothing in this Agreement shall be construed to prevent any Contracting Party from making any provision to govern the investments made by foreign investors and the terms and conditions of such investments. Investors, in the context of measures designed to preserve and encourage cultural and linguistic diversity.
Article 2
Scope of the Agreement
For the purposes of this Agreement, it is The Contracting Parties shall be responsible for the actions or omissions of their public authorities, and in particular their regions, local authorities or any other entity on which the Contracting Party exercises guardianship, Representation or responsibility for its international relations or sovereignty.
Article 3
Investment Promotion and Intake
Each Contracting Party encourages and Admit, within the framework of its legislation and the provisions of this Agreement, the investments made by the nationals and companies of the other Party on its territory and in its maritime area.
Article 4
Treatment Fair and equitable
Each Contracting Party undertakes to ensure, within its territory and in its maritime area, fair and equitable treatment, in accordance with the principles of international law, of And to ensure that the exercise of the right so recognised shall not be impeded in law or in fact. In particular, although not exclusively, they are regarded as barriers of law or de facto to the fair and equitable treatment of any restriction on the purchase and transport of raw materials and auxiliary materials, energy and Fuels, as well as means of production and exploitation of any kind, any impediment to the sale and transport of products within the country and abroad, as well as any other measures having a similar
. Contracting Parties shall consider, in the context of their domestic legislation, requests for entry and authorisation of residence, work and movement introduced by nationals of a Contracting Party in respect of an investment Carried out on the territory or in the maritime area of the other Contracting Party.
Article 5
National Treatment and Most-Favoured-Nation Treatment
Each Contracting Party shall apply, On its territory and in its maritime area, to nationals or companies of the other Party, in respect of their investments and activities relating to such investments, treatment no less favourable than that accorded to its nationals or companies, Or the treatment accorded to the most-favoured-nation nationals or societies, if the latter is more advantageous. As such, nationals authorised to work in the territory and in the maritime area of one of the Contracting Parties must be able to benefit from the appropriate physical facilities for the performance of their professional
. Treatment does not extend, however, to the privileges which a Contracting Party grants to nationals or companies of a third State, by virtue of its participation in or association with a free trade area, a customs union, a common market or Any other form of regional economic organization.
The provisions of this section do not apply to tax matters.
Article 6
Possess and Compensation
1. Investments made by nationals or companies of either Contracting Party shall, on the territory and in the maritime area of the other Contracting Party, benefit from full protection and security.
2. Contracting Parties shall not take measures of expropriation or nationalization or any other measures whose effect is to deposit, directly or indirectly, the nationals and companies of the other Party , on their territory and in their maritime area, except as a matter of public utility and provided that such measures are neither discriminatory nor contrary to a particular commitment.
All dispossession measures which May be taken for payment of prompt and adequate compensation, the amount of which, equal to the actual value of the investments concerned, must be assessed in relation to a normal economic situation and prior to all Threat of dispossession. This allowance, its amount and terms and conditions of payment shall be fixed no later than the date of the dispossession. This allowance is in fact feasible, paid without delay and freely transferable. It produces, up to the date of payment, interest calculated at the appropriate market interest rate.
3. The nationals or companies of one of the Contracting Parties whose investments have suffered losses due to war or any other armed conflict, revolution, national state of emergency or revolt in the territory or in the maritime zone The other Contracting Party shall, on the part of the other Contracting Party, benefit from treatment no less favourable than that accorded to its own nationals or to those of the most-favoured nation.
Article 7
Free transfer
Each Contracting Party, in the territory or in the maritime area in which investments have been made by nationals or companies of the other Contracting Party, grants these Nationals or companies free transfer:
(a) Interest, dividends, profits and other current income;
(b) Royalties arising from the intangible rights referred to in paragraph 1, letters d and e of Article 1;
(c) Payments made for the repayment of borrowings on a regular basis;
(d) From the proceeds of the sale or the total or partial liquidation of the investment, including capital gains of the invested capital;
(e) Allowances of Or loss provided for in Article 6 (2) and (3) above.
The nationals of each Contracting Party who have been authorized to work in the territory or in the maritime area of the other Contracting Party, in respect of An approved investment, shall also be allowed to transfer to their country of origin an appropriate amount of their remuneration.
The transfers referred to in the preceding paragraphs shall be carried out without delay at the official normal exchange rate
Where, in exceptional circumstances, the movement of capital from or to third countries causes or threatens to cause a serious imbalance in the balance of payments, each Contracting Parties may temporarily apply safeguard measures relating to transfers, provided that such measures are strictly necessary, applied on a fair, non-discriminatory and in good faith basis and that they Does not exceed six months.
Article 8
Dispute Settlement
between an investor and a Contracting Party
Any dispute relating to investments between one of the Parties Contracting Party and a national or a company of the other Contracting Party shall be settled amicably between the two parties concerned.
If such a dispute could not be settled within six months from the time when it was raised by the Or the other of the parties to the dispute, it shall be subject to the request of either party unconditionally and notwithstanding any other contractual provision or renunciation of international arbitration, to the arbitration of the Center International for the Settlement of Investment Disputes (ICSID), established by the Convention for the Settlement of Investment Disputes between States and Nationals of Other States, signed in Washington on 18 March 1965.
In the event that the dispute is liable to be liable for the actions or omissions of public authorities or bodies dependent on one of the two Contracting Parties, within the meaning of Article 2 of this Agreement, that The International Centre for the Settlement of Investment Disputes (ICSID), within the meaning of Article 25 of the The Convention for the Settlement of Investment Disputes between States and Nationals of Other States, signed in Washington on 18 March 1965.
Article 9
Warranty and subrogation
To the extent that the regulation of one of the Contracting Parties provides for a guarantee for investments made abroad, the latter may be granted, on a case-by-case basis, to investments made by Nationals or companies of that Party in the territory or in the maritime zone of the other Party.
The investments of nationals and companies of one of the Contracting Parties in the territory or in the maritime zone of the other Party shall not May obtain the guarantee referred to in the above paragraph only if they have, in advance, obtained the approval of the latter Party.
If one of the Contracting Parties, by virtue of a guarantee given for an investment made in the territory or In the maritime zone of the other Party, make payments to one of its nationals or to one of its companies, it is, therefore, subrogated to the rights and shares of that national or of that
. The rights of the beneficiary of the guarantee to use the ICSID or to continue the actions brought before it until the completion of the procedure.
Article 10
Specific engagement
The Investments having been the subject of a particular commitment by one of the Contracting Parties in respect of nationals and companies of the other Contracting Party shall be governed, without prejudice to the provisions of this Agreement, by the terms of this Agreement Commitment to the extent that it contains provisions more favourable than those provided for in this Agreement.
Article 11
Dispute Settlement between Contracting Parties
1. Disputes concerning the interpretation or application of this Agreement shall be resolved, if possible, through diplomatic
. If, within six months from the date on which it was raised by either Contracting Party, the dispute is not settled, it shall, at the request of either Contracting Party, submit to an arbitration tribunal.
3. The said Court shall be constituted for each particular case as follows: Each Contracting Party shall designate one member and the two members shall designate, by mutual agreement, a national of a third State who shall be appointed as the President of the Tribunal by the Two Contracting Parties. All members shall be appointed within two months of the date on which one Contracting Party has notified the other Contracting Party of its intention to submit the dispute to
. If the time limits fixed in paragraph 3 above have not been observed, either Contracting Party, in the absence of any other agreement, shall invite the Secretary-General of the United Nations to make the necessary designations. If the Secretary-General is a national of either Contracting Party or, for another reason, is prevented from performing that function, the oldest Under-Secretary-General and not having the nationality of one of the Parties Contracting Parties make the necessary designations.
5. The arbitration tribunal shall take its decisions by a majority of the votes. These decisions shall be final and binding on the Contracting Parties.
The Court shall lay down its own rules. He shall interpret the award at the request of either Contracting Party. Unless the court provides otherwise, taking into account special circumstances, the costs of the arbitral proceedings, including the vacations of the arbitrators, shall be apportioned equally among the Contracting Parties.
Article 12
Entry into force and duration
Each Party shall notify the other of the completion of the internal procedures required for the entry into force of this Agreement, which shall take effect one month after the day of the Receipt of the last notification.
The Agreement is concluded for an initial period of ten years. It shall remain in force after that term, unless one of the Parties denounces it by diplomatic means with one year's notice.
At the expiration of the period of validity of this Agreement, the investments made while it was in force Will continue to benefit from the protection of its provisions for an additional twenty years.
Done at Paris, on December 4, 2002 in two originals, each in the French, Russian and Tajik languages. In case of discrepancy between the texts, the French text serves as a reference.
For the Government
of the French Republic:
François Loos
Minister Delegate
to Foreign Trade
For the
Government of the Republic of Tajikistan:
Khakim Soliev
Minister of the
Economy and Commerce
Done at Paris, January 5, 2005.
Jacques Chirac
By the President of the Republic:
The Prime Minister,
Jean-Pierre Raffarin
Foreign Minister,
Michel Barnier
