Agreement between the Government of the Republic of Kazakhstan and Government of the Azerbaijan Republic on encouragement and mutual protection of investments

of September 16, 1996

The government of the Republic of Kazakhstan and the Government of the Azerbaijan Republic, hereinafter referred to as "Contracting parties",

wishing to strengthen economic cooperation on long-term basis for mutual advantage of both Contracting Parties,

having intention to create and support favorable conditions for investors of one Contracting Party in the territory of other Contracting Party,

recognizing that assistance and mutual protection of investments, according to this Agreement, will stimulate business initiative in this sphere,

agreed about the following:

Article 1 Determination

For the purposes of this Agreement:

1. The term "investment" will cover any kind of the assets invested in connection with economic activity of investors of one Contracting Party in the territory of other Contracting Party according to the current legislation of the last and will include, in particular, but not only:

a) personal and real estate and any property rights, such as mortgage right, mortgage right;

b) the shares, securities, debt obligations, the reinvested income, purpose-oriented bank and financial deposits connected with implementation of investments;

c) the monetary claims or any other rights to claim connected with the activities having the financial importance;

d) intellectual property rights, including the copyright, trademarks, patents, industrial designs, engineering procedures, know-how, commercial secrets, brand names and goodwill connected with investment;

e) reinvested income and payments of principal debt and percent on credit agreements;

e) licenses and permissions according to the legislation, including concessions on investigation, production, development and operation of natural resources.

2. The term "investor" means:

a) any physical person which has nationality or the permanent residence in any of Contracting Parties according to its laws;

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