Agreement between the Lao People's Democratic Republic and the Republic of Cuba on the promotion and reciprocal protection of investments

• Coming into Force: 10 June 1998
• Citation: UNTS v. 2228 (p.297)
• Date of Conclusion: 28 April 1997
• Registration Date: 28 October 2003
• Registration Number: 39636
• Subject Terms: Investments
• Type of Document: Bilateral
• Participants: Cuba,Lao People's Democratic Republic
• Party Submitting the Application for Registration: Lao People's Democratic Republic

No.

39636

Lao

People's

Democratic

Republic

and

Cuba

Agreement

between

the

Lao

People's

Democratic

Republic

and

the

Republic of

Cuba

on

the promotion

and

reciprocal

protection

of investments.

Havana,

28

April

1997

Entry

into

force:

10

June

1998

by

notification,

in

accordance

with

article

12

Authentic

texts:

English,

Lao

and

Spanish

Registration

with

the

Secretariat

of

the

United Nations:

Lao

People's

Democratic

Republic,

28

October

2003

R6publique

d6mocratique

populaire

lao

et

Cuba

Accord

entre

la

R6publique

d6mocratique

populaire

lao

et

la

R6publique

de

Cuba

relatif

A

la

promotion

et

A

la

protection r6ciproque

des

investissements.

La

Havane,

28

avril

1997

Entree

en

vigueur

:

lOjuin

1998

par

notification,

conform

ment

cd

l'article

12

Textes

authentiques

:

anglais,

lao

et

espagnol

Enregistrement

aupr~s

du

Secretariat

des

Nations

Unies

:

R~publique

d~mocratique

populaire

lao,

28

octobre

2003

Volume

2228,

1-39636

[

ENGLISH

TEXT

-

TEXTE

ANGLAIS

]

AGREEMENT

BETWEEN

THE

LAO

PEOPLE'S

DEMOCRATIC REPUBLIC

AND

THE REPUBLIC

OF

CUBA

ON

THE

PROMOTION

AND

RECIPRO-

CAL PROTECTION

OF

INVESTMENTS

The Lao

People's

Democratic

Republic

and the

Republic

of

Cuba

(Hereinafter

referred

to

as

the

"Contracting

Parties");

Desiring

to

intensify

their economic cooperation to

the

mutual

benefit

of

both

States;

Having

as

their

objective

to

create and

maintain favourable

conditions

for

investments

by

investors

of

either

State

in

the

territory

of

the

other

State,

and

Recognising

that

the

promotion

and

reciprocal

protection

of

investments,

on

the

basis

of

this

Agreement,

will

stimulate

the

business

initiatives

in

this

field,

Have

agreed

as

follows:

Article

1.

Definition

For

the

purposes

of

this

Agreement:

1.

"Investment" means

every

kind

of

asset

invested

in

regard

to

economic

activities

by

an

investor

of

either Contracting

Party

in

the

territory

of

the

other

Contracting Party pur-

suant

to

the laws and regulations

of

the

latter,

and

in

particular,

though

not exclusively,

in-

cludes:

a)

movable

and

immovable

property,

as

well

as

any

other

rights

in

rem such

as

mort-

gages,

liens,

pledges

and

any

other

similar

rights;

b)

shares

in

and stock

and

debentures

of

a

company

and

any

other

form

of

participation

in

a

company

c)

claims

to

money

or

to

any

performance

under contract

having

an

economic

value,

as

well

as

loans

connected

to

an

investment;

d)

intellectual

property rights,

in

particular,

copyrights, patents,

trade marks,

industrial

models, technical

processes,

know-how,

trade secrets, trade

names

and

goodwill,

connect-

ed to

an

investment;

e)

rights

or

permits

conferred by law or

under contract,

including

concessions

to

search

for,

cultivation,

extract

or

exploit

natural

resources;

Any

change

in

the

form

in

which

the

investments have been

made

does

not

affect

their

character

as

investments.

2.

"Investor"

means,

any

natural or

legal

person

of

either

Contracting

Party

making

in-

vestments

in

the

territory

of

the

other

Contracting

Party.

a)

natural

person

means,

with

regard

to

either

Contracting

Party,

any

person

having

the

citizenship

of

that

State

in

accordance

with

its

laws;

b)

"legal

person" means,

with

regard

to

either

Contracting

Party",

any

entity

estab-

lished

or

constituted

in

its

territory

in

accordance

with

the

laws

of

that Contracting

Party.

Volume

2228,

1-39636

3.

"Returns

"

means

the

amounts yielded

by

an

investment

and

in

particular,

though

not

exclusively,

includes

profit,

interest,

capital

gains, shares,

dividends, royalties and fees.

4.

"Territory"

means

the

territory

of

the Lao

People's Democratic

Republic

and the

ter-

ritory

of

the

Republic

of

Cuba,

as

well

as

the

maritime

areas,

including

the

sea

bed and

sub-

soil

adjacent

to

the

outer

limits

of

the

territorial

waters

of

either

territory,

over

which

the

State

in

question

exercises,

in

conformity

with

international

law,

sovereign

rights

orjuris-

diction.

Article

2.

Promotion

and

Protection

of

Investments

1.

Each

Contracting

Party

shall

promote

and

create favorable

conditions,

in

conformi-

ty

with

its

laws

and

regulations,

in

its

territory

for

investments by investors

of

the

other

Contracting

Party,

and

shall

admit

such

investments

in

accordance with

its

legislation.

2.

Investments

by

investors

of

a

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.

3.

Each

Contracting Party

shall

create

favorable

conditions

for

the

granting

of

visa

and

work

permits

required

in

its

territory

in

order

that

the

nationals

of

the

other Contracting

Par-

ty

can

perform

their

activities

connected

to

the

investment.

Article

3.

National

and

Most-favored

Nation

Treatment

1.

Each

Contracting Party

shall

accord,

in

its

territory,

to

investments

and

returns

of

investors

of

the

other

Contracting

Party,

treatment no

less

favorable than

that which

it ac-

cords

to

investments

and returns

of

its

own

investors

or

to

investments

and

returns

of

in-

vestors

of

any

third State.

2.

Each

Contracting Party

shall

accord

to

investors

of

the

other

Contracting

Party,

in

regard

to

the

management, maintenance,

use,

enjoyment

or disposal,

in

its

territory,

of

in-

vestments

a

fair and

equitable treatment

which

is

no

less

favorable

than

that which

it

ac-

cords

to

its

own

investors

or

to

investors

of

any

third

State.

3.

For

the

avoidance

of

doubt,

it

is

confirmed that

the

investments or returns

of

nation-

als

or companies

referred

to

in

paragraphs

(1)

and

(2)

above

are

those governed by

national

legislation

covering

foreign

investment

and

that

the

treatment

provided

for

in

paragraphs

(1)

and

(2)

above

shall

apply

to

the

provisions

of

Articles

1

to

11

of

this Agreement.

4.

The

provisions

of

paragraphs

(1)

and

(2)

of

this

Article

shall

not

be

construed

so

as

to

oblige

one

Contracting Party

to

extend

to

the

nationals or

companies

of

the

other

Con-

tracting

Party

the

benefits

of

any

treatment,

preference

or

privilege

resulting

from:

a) any

custom

union,

free

trade

area,

monetary union or

any

similar international agree-

ments

leading

to

such

unions

or

institutions

or

any

other

forms

of

regional

cooperation

to

which either

of

the

Contracting

Party

is

or

may

become

a

party.

b) any

international

agreement

or arrangement

relating

wholly

or

mainly

to

taxation.