Contract between the Government of the Republic of Uzbekistan and Government of the Republic of Latvia on mutual encouragement and protection of investments

of May 23, 1996

The government of the Republic of Uzbekistan and the Government of the Republic of Latvia, the hereinafter referred to as Contracting Parties,

wishing to promote broader economic cooperation between them for mutual advantage of both states,

recognizing need of encouragement and protection of investments for the purpose of creation and preserving advantageous conditions for investments of investors of the state of one Contracting Party in the territory of the state of other Contracting Party,

agreeing that the stable basis of investments will provide maximum efficiency of use of economic resources and to development of productive forces;

agreed as follows:

Article 1. General determinations

For the purposes of this Agreement:

1. The term "investor" extends and includes:

i) states of Contracting Parties;

ii) legal entities of the states of Contracting Parties;

iii) international organizations of the states of Contracting Parties;

iv) citizens, associations of citizens and stateless persons of the states of Contracting Parties.

2. The term "investments" designates any kind of property and the rights to them, and also is right on intellectual, trade and industrial property, such as, copyright, patents, useful models, industrial designs and models, trademarks, trade names, production and trade secrets, technologies, "the buzzing twisted" and "know-how".

3. Investments in the territory of the states of Contracting Parties are performed in the way:

i) creations of the economic societies and partnerships, banks, insurance companies and other companies which are completely belonging to investors or on the basis of equity in them;

ii) property acquisitions, shares and other securities;

iii) acquisitions of rights of property rights, including rights of possession and uses on the basis of lease;

iv) other activities for implementation of the investments which are not contradicting the legislation existing in the territory of the state of the Contracting Party in the place of investment.

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