Common use of National and Most-favoured-nation Treatment Clause in Contracts

National and Most-favoured-nation Treatment. 1. Each Contracting Party shall accord in its territory to investments and returns of investors of the other Contracting Party a treatment no less favourable than that which it accords to investments and returns of its own investors, or to investments and returns of investors of any third State, whichever is more favourable to the investors concerned. 2. Each Contracting Party shall accord in its territory to the investors of the other Contracting Party with regard to acquisition, operation, development, management, maintenance, use, expansion, sale or other disposal of their investment, a treatment which is no less favourable than that which it accords to its own investors or to investors of any third State, whichever is more favourable to the investors concerned. 3. The most favoured nation treatment shall apply to the pre-establishment to extent it is done in accordance with the laws and regulations of a Contracting Party relating to the establishment or acquisition of investment and being addmitted accordingly. 4. Neither Contracting Party shall in its territory impose mandatory measures on investments by investors of the other Contracting Party, concerning the purchase of materials, means of production, operation, transport, marketing of its products or similar orders having unreasonable or discriminatory effects. This paragraph shall not apply to measures taken in accordance with the laws and regulations in the course of government procurement of goods and services at any level of the government of the Contracting Party. 5. Notwithstanding any other bilateral investment agreement the Contracting Parties have signed with other States before or after the entry into force of this Agreement, the most favoured nation treatment shall not apply to procedural or judicial matters. 6. The provisions of paragraph 1 and 2 of this Article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party the benefit of any treatment, preference or privilege which may be extended by the former Contracting Party by virtue of: a. any existing or future customs union or economic or monetary union, free trade area or similar international agreements to which either of the Contracting Party is or may become a party in the future; b. any international agreement or arrangement, wholly or partially related to taxation.

National and Most-favoured-nation Treatment. 1. Each Contracting Party shall accord in its territory accord to investments and returns of investors of the other Contracting Party a treatment no which is fair and equitable and not less favourable than that which it accords to investments and returns of its own investors, investors or to investments and returns of investors of any third State, whichever is more favourable to the investors concernedfavourable. 2. Each Contracting Party shall accord in its territory accord to the investors of the other Contracting Party with regard to acquisitionParty, operation, development, as regards management, maintenance, use, expansion, sale enjoyment or other disposal of their investment, a treatment which is no fair and equitable and not less favourable than that which it accords to its own investors or to investors of any third State, whichever is more favourable to the investors concernedfavourable. 3. The most favoured nation treatment provisions of paragraphs 1 and 2 shall apply to not prevent either Contracting Party from setting forth, while admitting an investment of an investor of the pre-establishment to extent it is done other Contracting Party in accordance with the its laws and regulations and policies, conditions which deviate from those applied to investments of a its own investors.paragraphs 1 and 2 shall not prevent either Contracting Party relating from setting forth, while admitting an investment of an investor of the other Contracting Party in accordance with its laws and regulations and policies, conditions which deviate from those applied to the establishment or acquisition investments of investment and being addmitted accordinglyits own investors. 4. Neither Contracting Party shall in its territory impose mandatory measures on investments by investors of the other Contracting Party, concerning the purchase of materials, means of production, operation, transport, marketing of its products or similar orders having unreasonable or discriminatory effects. This paragraph shall not apply to measures taken in accordance with the laws and regulations in the course of government procurement of goods and services at any level of the government of the Contracting Party. 5. Notwithstanding any other bilateral investment agreement the Contracting Parties have signed with other States before or after the entry into force of this Agreement, the most favoured nation treatment shall not apply to procedural or judicial matters. 6. The provisions of paragraph paragraphs 1 and 2 of this Article shall not be construed so as to oblige 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:paragraphs 1 and 2 of this Article shall not be construed so as to oblige 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: a. any existing or future (a) Any customs union or economic or monetary union, free trade area or a monetary union or similar international agreements leading to such unions or institutions or other forms of regional co-operation to which either of the Contracting Party Parties is or may become a party in the futureparty; b. any (b) Any international agreement or arrangement, arrangement relating wholly or partially related mainly to taxation.

National and Most-favoured-nation Treatment. 1. Each Contracting Party shall accord in its territory accord to investments investments, once established, and returns of investors of the other Contracting Party a treatment no which is fair and equitable and not less favourable than that which it accords in similar situations to investments and returns of its own investors, investors or to investments and returns of investors of any third State, whichever is more favourable to the investors concernedfavourable. 2. Each Contracting Party shall accord in its territory accord to the investors of the other Contracting Party with regard to acquisitionParty, operation, development, as regards management, maintenance, use, expansion, sale enjoyment or other disposal of their investment, a treatment which is no fair and equitable and not less favourable than that which it accords to its own investors or to investors of any third State, whichever is more favourable to the investors concernedfavourable. 3. The most favoured nation treatment shall apply Subject to the pre-establishment to extent it is done in accordance with the laws and regulations of a the Contracting Party Parties relating to the establishment or acquisition entry, sojourn and employment of investment and being addmitted accordingly.aliens; 4. Neither (a) Nationals of either Contracting Party shall be permitted to enter and to remain in its the territory impose mandatory measures of the other Contracting Party for the purpose of establishing, developing, administering or advising on the operation of an investment to which they, or an investor of the first Contracting Party that employs them, have committed and/or are in the process of committing the required amount of capital or required value of other resources, (b) Companies which are legally constituted under the applicable laws and regulations of one Contracting Party and which are investments by of investors of the other Contracting Party, concerning the purchase shall be permitted to engage managerial and technical personnel of materialstheir choice, means regardless of production, operation, transport, marketing nationality. 4. The National Treatment and Most-Favoured-Nation Treatment provisions of its products or similar orders having unreasonable or discriminatory effects. This paragraph this Article shall not apply to measures taken in accordance with the laws and regulations in the course advantages accorded by a Contracting Party pursuant to its obligation as a member of government procurement of goods and services at any level of the government of the Contracting Partycustoms, economic, or monetary union, a common market or a free trade area. 5. Notwithstanding any The Contracting Party understands the obligations of the other bilateral investment Contracting Party as a member of a customs, economic, or monetary union, a common market or a free trade area to include obligations arising out of an international agreement the Contracting Parties have signed with other States before or after the entry into force reciprocity agreement of this Agreementthat customs, the most favoured nation treatment shall not apply to procedural economic, or judicial mattersmonetary union, common market or free trade area. 6. The provisions of paragraph 1 and 2 of this Article Agreement shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party Party, or to the investments or returns of such investors, the benefit of any treatment, preference or privilege which may be extended by the former Contracting Party by virtue of: a. any existing or future customs union or economic or monetary union, free trade area or similar international agreements to which either of the Contracting Party is or may become a party in the future; b. any international agreement or arrangement, arrangement relating wholly or partially related mainly to taxation.

National and Most-favoured-nation Treatment. 1. Each Contracting Party shall accord in its territory accord to investments and returns of investors of the other Contracting Party a and their investments treatment no not less favourable than that which the treatment it accords accords, in like situations to investments and returns of its own investors, or to investors and their investments and returns of investors of any third State, whichever is more favourable with respect to the investors concernedconduct, operation, management, maintenance, use, enjoyment and sale or disposal of their investments in its territory. 2. Each Contracting Party shall accord in its territory accord to the investors of the other Contracting Party and their investments treatment no less favourable than that it accords, in like situations, to investors of a third country or to their investments with regard respect to acquisition, the operation, developmentconduct, management, maintenance, use, expansion, enjoyment and sale or other disposal of their investment, a treatment which is no less favourable than that which it accords to investments in its own investors or to investors of any third State, whichever is more favourable to the investors concernedterritory. 3. For greater certainty, the “treatment” referred to in paragraph 2 does not include procedures for the resolution of investment disputes between investors and states provided for in other international investment treaties and any other agreements. Substantive obligations in other international investment treaties and other trade agreements do not in themselves constitute “treatment”, and thus cannot give rise to a breach of this Article, absent measures adopted or maintained by a Contracting Party pursuant to those obligations. 4. The most favoured nation treatment National Treatment and Most-Favoured-Nation Treatment provisions of this Agreement shall not apply to advantages accorded by a Contracting Party pursuant to its obligations as a member of a customs, economic, or monetary union, a common market or a free trade area. 5. The Contracting Parties understand the pre-establishment to extent it is done in accordance with the laws and regulations obligations of a Contracting Party relating as a member of a customs, economic, or monetary union, a common market or a free trade area to the establishment include obligations arising out of an international agreement or acquisition reciprocity arrangement of investment and being addmitted accordingly. 4. Neither Contracting Party shall in its territory impose mandatory measures on investments by investors of the other Contracting Partythat customs, concerning the purchase of materialseconomic, means of productionor monetary union, operation, transport, marketing of its products common market or similar orders having unreasonable or discriminatory effects. This paragraph shall not apply to measures taken in accordance with the laws and regulations in the course of government procurement of goods and services at any level of the government of the Contracting Party. 5. Notwithstanding any other bilateral investment agreement the Contracting Parties have signed with other States before or after the entry into force of this Agreement, the most favoured nation treatment shall not apply to procedural or judicial mattersfree trade area. 6. The provisions of paragraph 1 and 2 of this Article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party Party, or to the investments or returns of investments of such investors the benefit of any treatment, preference or privilege privilege, which may be extended by the former Contracting Party by virtue of: a. any existing or future customs union or economic or monetary union, free trade area or similar international forms of multilateral agreements on investments to which either of the Contracting Party Parties is or may become a party in the futureparty; b. any international agreement or arrangement, arrangement relating wholly or partially related mainly to taxation.

National and Most-favoured-nation Treatment. 1. Each Contracting Party shall accord in its territory accord to investments and returns of investors of the other Contracting Party a treatment no which is fair and equitable and not less favourable than that which it accords to investments and returns of its own investors, investors or to investments and returns of investors of any third State, whichever is more favourable to the investors concernedfavourable. 2. Each Contracting Party shall accord in its territory accord to the investors of the other Contracting Party with regard to acquisitionParty, operation, development, as regards management, maintenance, use, expansion, sale enjoyment or other disposal of their investment, a treatment which is no fair and equitable and not less favourable than that which it accords to its own investors or to investors of any third State, whichever is more favourable to the investors concernedfavourable. 3. The most favoured nation treatment National Treatment and Most-Favoured-Nation Treatment provisions of this Article shall not apply to the pre-establishment to extent it is done in accordance with the laws and regulations of advantages accorded by a Contracting Party relating pursuant to the establishment its obligations as a member of a customs, economic, or acquisition of investment and being addmitted accordinglymonetary union, a common market or a free trade area. 4. Neither The Contracting Party shall in its territory impose mandatory measures on investments by investors understands the obligations of the other Contracting PartyParty as a member of a customs, concerning the purchase economic, or monetary union, a common market or a free trade area to include obligations arising out of materialsan international agreement or reciprocity agreement of that customs, means of productioneconomic, operationor monetary union, transport, marketing of its products common market or similar orders having unreasonable or discriminatory effects. This paragraph shall not apply to measures taken in accordance with the laws and regulations in the course of government procurement of goods and services at any level of the government of the Contracting Partyfree trade area. 5. Notwithstanding any other bilateral investment agreement the Contracting Parties have signed with other States before or after the entry into force of this Agreement, the most favoured nation treatment shall not apply to procedural or judicial matters. 6. The provisions of paragraph 1 and 2 of this Article Agreement shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party Party, or to the investments or returns of such investors, the benefit of any treatment, preference or privilege which may be extended by the former Contracting Party by virtue of: a. any existing or future customs union or economic or monetary union, free trade area or similar international agreements to which either of the Contracting Party is or may become a party in the future; b. any international agreement or arrangement, arrangement relating wholly or partially related mainly to taxation. 6. For the avoidance of doubt, the present Article shall apply only in respect of the kinds of treatment offered in Articles 2 to 7 of this Agreement, and shall not apply in respect of Investor's rights to submit disputes arising under this Agreement to any dispute settlement procedure.

National and Most-favoured-nation Treatment. 1. Each Contracting Party shall accord in its territory accord to investments and returns of investors of the other Contracting Party a treatment no which is fair and equitable and not less favourable than that which it accords to investments and returns of its own investors, investors or to investments and returns of investors of any third State, whichever is more favourable to the investors concernedfavourable. 2. Each Contracting Party shall accord in its territory accord to the investors of the other Contracting Party with regard to acquisitionParty, operation, development, as regards management, maintenance, use, expansion, sale enjoyment or other disposal of their investment, a treatment which is no fair and equitable and not less favourable than that which it accords to its own investors or to investors of any third State, whichever is more favourable to the investors concernedfavourable. 3. The most favoured nation treatment National Treatment and Most-Favoured-Nation Treatment provisions of this Article shall not apply to advantages accorded by a Contracting Party pursuant to its obligations as a member of a customs, economic, or monetary union, a common market or a free trade area. 4. The Contracting Party understands the pre-establishment to extent it is done in accordance with the laws and regulations obligations of a Contracting Party relating as a member of a customs, economic, or monetary union, a common market or a free trade area to the establishment include obligations arising out of an international agreement or acquisition reciprocity agreement of investment and being addmitted accordingly. 4. Neither Contracting Party shall in its territory impose mandatory measures on investments by investors of the other Contracting Partythat customs, concerning the purchase of materialseconomic, means of productionor monetary union, operation, transport, marketing of its products common market or similar orders having unreasonable or discriminatory effects. This paragraph shall not apply to measures taken in accordance with the laws and regulations in the course of government procurement of goods and services at any level of the government of the Contracting Partyfree trade area. 5. Notwithstanding any other bilateral investment agreement the Contracting Parties have signed with other States before or after the entry into force of this Agreement, the most favoured nation treatment shall not apply to procedural or judicial matters. 6. The provisions of paragraph 1 and 2 of this Article Agreement shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party Party, or to the investments or returns of such investors, the benefit of any treatment, preference or privilege which may be extended by the former Contracting Party by virtue of: a. any existing or future customs union or economic or monetary union, free trade area or similar international agreements to which either of the Contracting Party is or may become a party in the future; b. any international agreement or arrangement, arrangement relating wholly or partially related mainly to taxation.

National and Most-favoured-nation Treatment. 11 . Each Contracting Party shall accord in its territory accord to investments and returns of investors of the other Contracting Party a treatment no which is fair and equitable and not less favourable than that which it accords to investments and returns of its own investors, investors or to investments and returns of investors of any third State, State whichever is more favourable to the investors concernedfavourable. 22 . Each Contracting Party shall accord in its territory accord to the investors of the other Contracting Party with regard to acquisitionParty, operation, development, as regards management, maintenance, use, expansion, sale enjoyment or other disposal of their investment, a treatment which is no fair and equitable and not less favourable than that which it accords to its own investors or to investors of any third State, whichever is more favourable to the investors concernedfavourable. 33 . The most favoured nation treatment National Treatment and Most-Favoured-Nation Treatment provisions of this Agreement shall not apply to advantages accorded by a Contracting Party pursuant to its obligations as a member of a customs, economic, or monetary union, a common market or a free trade area. 4 . The Contracting Parties understand the pre-establishment to extent it is done in accordance with the laws and regulations obligations of a Contracting Party relating as a member of a customs, economic, or monetary union, a common market or a free trade area to the establishment include obligations arising out of an international agreement or acquisition reciprocity arrangement of investment and being addmitted accordinglythat customs, economic, or monetary union, common market or free trade area. 4. Neither Contracting Party shall in its territory impose mandatory measures on investments by investors of the other Contracting Party, concerning the purchase of materials, means of production, operation, transport, marketing of its products or similar orders having unreasonable or discriminatory effects. This paragraph shall not apply to measures taken in accordance with the laws and regulations in the course of government procurement of goods and services at any level of the government of the Contracting Party. 5. Notwithstanding any other bilateral investment agreement the Contracting Parties have signed with other States before or after the entry into force of this Agreement, the most favoured nation treatment shall not apply to procedural or judicial matters. 65 . The provisions of paragraph 1 and 2 of this Article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party Party, or to the investments or returns of such investors the benefit of any treatment, preference or privilege privilege, which may be extended by the former Contracting Party by virtue of: a. A . any existing or future customs union or economic or monetary union, free trade area or similar international forms of multilateral agreements on investments to which either of the Contracting Party Parties is or may become a party in the future; b. party; B . any international agreement or arrangement, wholly or partially related arrangement relating to taxation.

National and Most-favoured-nation Treatment. 1. Each Contracting Party shall accord in its territory accord to investments and returns of investors investments of the other Contracting Party a treatment no which is fair and equitable and not less favourable than that which it accords to investments and returns of investments of its own investors, investors or to investments and returns of investors investments of any third State, State whichever is more favourable to the investors concernedfavourable. 2. Each Contracting Party shall accord in its territory accord to the investors of the other Contracting Party with regard to acquisitionParty, operation, development, as regards management, maintenance, use, expansion, sale enjoyment or other disposal of their investment, a treatment which is no fair and equitable and not less favourable than that which it accords to its own investors or to investors of any third State, whichever is more favourable to the investors concernedfavourable. 3. The most favoured nation treatment National Treatment and Most-Favoured-Nation Treatment provisions of this Agreement shall not apply to advantages accorded by a Contracting Party pursuant to its obligations as a member of a customs, economic, or monetary union, a common market or a free trade area. 4. The Contracting Parties understand the pre-establishment to extent it is done in accordance with the laws and regulations obligations of a Contracting Party relating as a member of a customs, economic, or monetary union, a common market or a free trade area to the establishment include obligations arising out of an international agreement or acquisition reciprocity arrangement of investment and being addmitted accordingly. 4. Neither Contracting Party shall in its territory impose mandatory measures on investments by investors of the other Contracting Partythat customs, concerning the purchase of materialseconomic, means of productionor monetary union, operation, transport, marketing of its products common market or similar orders having unreasonable or discriminatory effects. This paragraph shall not apply to measures taken in accordance with the laws and regulations in the course of government procurement of goods and services at any level of the government of the Contracting Partyfree trade area. 5. Notwithstanding any other bilateral investment agreement the Contracting Parties have signed with other States before or after the entry into force of this Agreement, the most favoured nation treatment shall not apply to procedural or judicial matters. 6. The provisions of paragraph 1 and 2 of this Article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party Party, or to the investments or returns of investments of such investors the benefit of any treatment, preference or privilege which may be extended by the former Contracting Party by virtue of: a. any existing or future customs union or economic or monetary union, free trade area or similar international forms of multilateral agreements on investments to which either of the Contracting Party Parties is or may become a party in the futureparty; b. any international agreement or arrangement, arrangement relating wholly or partially related mainly to taxation.

National and Most-favoured-nation Treatment. 1. 1- Each Contracting Party shall shall, in accordance with its laws and regulations, accord in its territory to investments and returns of investors of the other Contracting Party a treatment no less favourable than that which it accords to investments and returns of its own investors, or to investments and returns of investors of any third StateState with respect to the development, management, use, enjoyment or disposal of investments, whichever is more favourable to the investors concerned. 2. 2- Each Contracting Party shall accord in its territory to the investors of the other Contracting Party with regard to acquisition, operation, development, management, maintenance, use, expansionenjoyment, sale or other disposal of their investment, a treatment which is no less favourable than that which it accords to its own investors or to investors of any third State, whichever is more favourable to the investors concerned. 3. The most favoured nation treatment shall apply to the pre-establishment to extent it is done in accordance with the laws and regulations of a Contracting Party relating to the establishment or acquisition of investment and being addmitted accordingly. 4. Neither Contracting Party shall in its territory impose mandatory measures on investments by investors of the other Contracting Party, concerning the purchase of materials, means of production, operation, transport, marketing of its products or similar orders having unreasonable or discriminatory effects. This paragraph shall not apply to measures taken in accordance with the laws and regulations in the course of government procurement of goods and services at any level of the government of the Contracting Party. 5. 3- Notwithstanding any other bilateral investment agreement the Contracting Parties parties have signed with other States before or after the entry into force of this Agreement, the most favoured favored nation treatment shall not apply to procedural or judicial matters.. In this respect, for more certainty there shall be no importation of more favourable protection arising from such other Agreements 6. 4- The provisions of paragraph 1 and 2 of this Article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party the benefit of any treatment, preference or privilege which may be extended by the former Contracting Party by virtue of: a. a- any existing or future customs union or economic or monetary union, free trade area or similar international agreements to which either of the Contracting Party is or may become a party in the future; b. ; b- any international agreement or arrangement, wholly or partially related to taxation.

National and Most-favoured-nation Treatment. 1. Each Contracting Party shall accord in its territory accord to investments and returns of investors an investor of the other Contracting Party a and to an investment, treatment no not less favourable than that which the treatment it accords accords, in like situations to investments and returns of its own investors, or to investors and their investments and returns of investors of any third State, whichever is more favourable with respect to the investors concernedconduct, operation, management, maintenance, use, enjoyment and sale or disposal of their investments in its territory. 2. Each Contracting Party shall accord in its territory accord to the investors of the other Contracting Party and their investments treatment not less favourable than that it accords, in like situations, to investors of a third country or to their investments with regard respect to acquisition, the operation, developmentconduct, management, maintenance, use, expansion, enjoyment and sale or other disposal of their investmentinvestments in its territory. The concept in like situation requires an overall examination on a case-by-case basis of all situations of an investment including inter alia, a treatment its effects on the person of the third party, its effects upon the local population or the environment, the sector in which the investment is no less favourable than that which it accords made. The examination shall not be limited to its own investors or to investors biased toward any one of any third State, whichever is more favourable to the investors concernedthese factors. 3. For greater certainty, the “treatment” referred to in paragraph 2 does not include procedures for the resolution of investment disputes between investors and states provided for in other international investment treaties and any other agreements. Substantive obligations in other international investment treaties and other trade agreements do not in themselves constitute “treatment”, and thus cannot give rise to a breach of this Article, absent measures adopted or maintained by a Party pursuant to those obligations. 4. The most favoured nation treatment National Treatment and Most-Favoured-Nation Treatment provisions of this Agreement shall not apply to advantages accorded by a Contracting Party pursuant to its obligations as a member of a customs, economic, or monetary union, a common market or a free trade area. 5. The Contracting Parties understand the pre-establishment to extent it is done in accordance with the laws and regulations obligations of a Contracting Party relating as a member of a customs, economic, or monetary union, a common market or a free trade area to the establishment include obligations arising out of an international agreement or acquisition reciprocity arrangement of investment and being addmitted accordingly. 4. Neither Contracting Party shall in its territory impose mandatory measures on investments by investors of the other Contracting Partythat customs, concerning the purchase of materialseconomic, means of productionor monetary union, operation, transport, marketing of its products common market or similar orders having unreasonable or discriminatory effects. This paragraph shall not apply to measures taken in accordance with the laws and regulations in the course of government procurement of goods and services at any level of the government of the Contracting Party. 5. Notwithstanding any other bilateral investment agreement the Contracting Parties have signed with other States before or after the entry into force of this Agreement, the most favoured nation treatment shall not apply to procedural or judicial mattersfree trade area. 6. The provisions of paragraph 1 and 2 of this Article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party Party, or to the investments or returns of investments of such investors the benefit of any treatment, preference or privilege privilege, which may be extended by the former Contracting Party by virtue of: a. any existing or future customs union or economic or monetary union, free trade area or similar international forms of multilateral agreements on investments to which either of the Contracting Party Parties is or may become a party in the futureparty; b. any international agreement or arrangement, arrangement relating wholly or partially related mainly to taxation.

National and Most-favoured-nation Treatment. (1. ) Each Contracting Party shall accord in its territory to accord investments and returns of investors of the other Contracting Party a and their returns, treatment no not less favourable than that which it accords accords, in like circumstances, to investments and returns of its own investors, investors or to investments and returns of investors of any third State, whichever is more favourable to the investors investment concerned. (2. ) Each Contracting Party shall accord in its territory to the accord investors of the other Contracting Party with regard to acquisitionParty, operation, development, as regards the management, maintenance, use, expansion, sale enjoyment or other disposal of their investmentinvestments, a treatment which is no not less favourable than that which it accords accords, in like circumstances, to its own investors or to investors of any third State, whichever is more favourable to the investors investor concerned. (3. The most favoured nation treatment shall apply to the pre-establishment to extent it is done in accordance with the laws and regulations of a Contracting Party relating to the establishment or acquisition of investment and being addmitted accordingly. 4. Neither Contracting Party shall in its territory impose mandatory measures on investments by investors of the other Contracting Party, concerning the purchase of materials, means of production, operation, transport, marketing of its products or similar orders having unreasonable or discriminatory effects. This paragraph shall not apply to measures taken in accordance with the laws and regulations in the course of government procurement of goods and services at any level of the government of the Contracting Party. 5. Notwithstanding any other bilateral investment agreement the Contracting Parties have signed with other States before or after the entry into force of this Agreement, the most favoured nation treatment shall not apply to procedural or judicial matters. 6. ) The provisions of paragraph 1 paragraphs (1) and 2 (2) of this Article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party and their investments the benefit of any treatment, preference or privilege which may be extended by the former Contracting Party by virtue of:paragraphs (1) and (2) of this Article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party and their investments the benefit of any treatment, preference or privilege which may be extended by the former Contracting Party by virtue of: a. any existing or future (a) Any customs union or economic or monetary union, free trade area area, monetary union, common market, or similar international agreements leading to such unions or institutions or other similar forms of regional co-operation to which either of the Contracting Party Parties is or may become a party party; or (b) Any tax measures. Nothing in this Agreement shall affect the future; b. rights and obligations of either Contracting Party derived from any international agreement or arrangementtax convention. In the event of any inconsistency between the provisions of this Agreement and any tax convention, wholly or partially related to taxationthe provisions of the latter shall prevail.

National and Most-favoured-nation Treatment. (1. Each ) Neither Contracting Party shall accord subject investments in its territory to investments and returns of owned or controlled by investors of the other Contracting Party a to treatment no less favourable than that which it accords to investments and returns of its own investors, investors or to investments and returns of investors of any third State, whichever is more favourable to the investors concerned. (2. Each ) Neither Contracting Party shall accord in its territory to the subject investors of the other Contracting Party with regard to acquisitionParty, operation, development, as regards their activities such as the management, maintenance, use, expansion, sale or other enjoyment and disposal of their investmentinvestments in its territory, a to treatment which is no less favourable than that which it accords to its own investors or to investors of any third State, whichever is more favourable to the investors concerned. 3. The most favoured nation following shall, in particular, be deemed "treatment shall apply to less favourable" within the pre-establishment to extent it is done meaning of this Article: unequal treatment in accordance with the laws and regulations case of a Contracting Party relating to the establishment or acquisition of investment and being addmitted accordingly. 4. Neither Contracting Party shall in its territory impose mandatory measures restrictions on investments by investors of the other Contracting Party, concerning the purchase of raw or auxiliary materials, of energy or fuel or of means of productionproduction or operation of any kind, operation, transport, unequal treatment in the case of impeding the marketing of its products inside or outside the country, as well as any other measures having similar orders having unreasonable or discriminatory effects. This paragraph Measures that have to be taken for reasons of public security and order, public health or morality shall not apply to measures taken in accordance with be deemed "treatment less favourable" within the laws and regulations in the course meaning of government procurement of goods and services at any level of the government of the Contracting Partythis Article. 5. Notwithstanding any other bilateral investment agreement the Contracting Parties have signed with other States before or after the entry into force of this Agreement, the most favoured nation (3) Such treatment shall not apply be applicable to procedural privileges which either Contracting Party accords to investors of third States on account of its membership of, or judicial mattersassociation with, an economic union, a customs union, a free trade area, an interim agreement leading to the formation of a customs union or of a free trade area, or any other similar economic co-operation arrangements. 6. (4) The provisions of paragraph 1 and 2 of treatment granted under this Article shall not be construed so as applicable to advantages which either Contracting Party accords to investors of third States by virtue of a double taxation agreement or other agreements regarding matters of taxation. (5) The provisions of this Article do not oblige one a Contracting Party to extend to investors resident in the investors territory of the other Contracting Party the benefit of any treatmenttax privileges, preference or privilege tax exemptions and tax reductions which may be extended by the former Contracting Party by virtue of: a. any existing or future customs union or economic or monetary union, free trade area or similar international agreements according to which either of the Contracting Party is or may become a party its tax laws are granted only to investors resident in the future; b. any international agreement or arrangement, wholly or partially related to taxationits territory.

National and Most-favoured-nation Treatment. 11 . Each Contracting Party shall accord in its territory accord to investments and returns of investors of the other Contracting Party a treatment no which is fair and equitable and not less favourable than that which it accords to investments and returns of its own investors, investors or to investments and returns of investors of any third State, whichever is more favourable to the investors concernedfavourable. 22 . Each Contracting Party shall accord in its territory accord to the investors of the other Contracting Party with regard to acquisitionParty, operation, development, as regards management, maintenance, use, expansion, sale enjoyment or other disposal of their investment, a treatment which is no fair and equitable and not less favourable than that which it accords to its own investors or to investors of any third State, whichever is more favourable to the investors concernedfavourable. 33 . The most favoured nation treatment National Treatment and Most-Favoured-Nation Treatment provisions of this Article shall not apply to the pre-establishment to extent it is done in accordance with the laws and regulations of advantages accorded by a Contracting Party relating pursuant to the establishment its obligations as a member of a customs, economic or acquisition of investment and being addmitted accordinglymonetary union, a common market or a free trade area. 44 . Neither The Contracting Party shall in its territory impose mandatory measures on investments by investors understands the obligations of the other Contracting PartyParty as a member of a customs, concerning the purchase economic or monetary union, a common market or a free trade area to include obligations arising out of materialsan international agreement or reciprocity agreement of that customs, means of productioneconomic or monetary union, operation, transport, marketing of its products common market or similar orders having unreasonable or discriminatory effects. This paragraph shall not apply to measures taken in accordance with the laws and regulations in the course of government procurement of goods and services at any level of the government of the Contracting Partyfree trade area. 5. Notwithstanding any other bilateral investment agreement the Contracting Parties have signed with other States before or after the entry into force of this Agreement, the most favoured nation treatment shall not apply to procedural or judicial matters. 65 . The provisions of paragraph 1 and 2 of this Article Agreement shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party Party, or to the investments or returns of such investors, the benefit of any treatment, preference or privilege which may be extended by the former Contracting Party by virtue of: a. any existing or future customs union or economic or monetary union, free trade area or similar international agreements to which either of the Contracting Party is or may become a party in the future; b. any international agreement or arrangement, arrangement relating wholly or partially related mainly to taxation.

National and Most-favoured-nation Treatment. 1. Each Contracting Party shall accord in its territory accord to investments and returns of investors of the other Contracting Party a treatment no which is not less favourable than that which it accords accords, in like circumstances, to investments and returns of its own investors, investors or to investments and returns of investors of any third State, whichever is more favourable to the investors concernedfavourable. 2. Each Contracting Party shall accord in its territory accord to the investors of the other Contracting Party with regard to acquisitionParty, operation, development, as regards management, maintenance, use, expansion, sale ; enjoyment or other disposal of their investmentinvestments, a treatment which is no not less favourable than that which it accords accords, in like circumstances, to its own investors or to investors of any third State, whichever is more favourable to the investors concernedfavourable. 3. The most favoured nation treatment shall apply For greater certainty, the "treatment" referred to the prein paragraphs 1 and 2 does not include investor-establishment to extent it is done to-state dispute settlement procedures provided for in accordance with the laws other international investment treaties and regulations of a Contracting Party relating to the establishment or acquisition of investment and being addmitted accordinglyother trade agreements. 4. Neither Contracting Party shall The obligation referred to in its territory impose mandatory measures on investments by investors of the other Contracting Party, concerning the purchase of materials, means of production, operation, transport, marketing of its products or similar orders having unreasonable or discriminatory effects. This paragraph paragraphs 1 and 2 shall not apply to measures taken treatment accorded under any bilateral or multilateral international agreements in accordance with force, or signed prior to the laws and regulations in the course date of government procurement of goods and services at any level of the government of the Contracting Party. 5. Notwithstanding any other bilateral investment agreement the Contracting Parties have signed with other States before or after the entry into force of this Agreement, the most favoured nation . 5. The treatment granted under this Article shall not apply to procedural advantages accorded by a Contracting Party pursuant to its obligations as a member of a customs, economic, or judicial mattersmonetary union, a common market, a free trade area, or other form of regional economic. integration. 6. The provisions of paragraph 1 and 2 of this Article Agreement shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party or to the investments or returns of such investors, the benefit of any treatment, preference preference, or privilege which may be extended by the former Contracting Party by virtue of: a. any existing or future customs union or economic or monetary union, free trade area or similar international agreements to which either of the Contracting Party is or may become a party in the future; b. any international agreement or arrangement, arrangement relating wholly or partially related mainly to taxation.

National and Most-favoured-nation Treatment. 1. Each Contracting Party shall accord in its territory accord to investments and returns of investors an investor of the other Contracting Party a and to an investment, treatment no not less favourable than that which the treatment it accords accords, in like situations to investments and returns of its own investors, or to investors and their investments and returns of investors of any third State, whichever is more favourable with respect to the investors concernedconduct, operation, management, maintenance, use, enjoyment and sale or disposal of their investments in its territory. 2. Each Contracting Party shall accord in its territory accord to the investors of the other Contracting Party and their investments treatment no less favourable than that it accords, in like situations, to investors of a third country or to their investments with regard respect to acquisition, the operation, developmentconduct, management, maintenance, use, expansion, enjoyment and sale or other disposal of their investment, a treatment which is no less favourable than that which it accords to investments in its own investors or to investors of any third State, whichever is more favourable to the investors concernedterritory. 3. For greater certainty, the "treatment" referred to in paragraph 2 of this Article does not include procedures for the resolution of investment disputes between investors and states provided for in other international investment treaties and any other agreements. Substantive obligations in other international investment treaties and other trade agreements do not in themselves constitute "treatment", and thus cannot give rise to a breach of this Article, absent measures adopted or maintained by a Contracting Party pursuant to those obligations. 4. The most favoured nation treatment National Treatment and Most-Favoured-Nation Treatment provisions of this Agreement shall not apply to advantages accorded by a Contracting Party pursuant to its obligations as a member of a customs, economic, or monetary union, a common market or a free trade area. 5. The Contracting Parties understand the pre-establishment to extent it is done in accordance with the laws and regulations obligations of a Contracting Party relating as a member of a customs, economic, or monetary union, a common market or a free trade area to the establishment include obligations arising out of an international agreement or acquisition reciprocity arrangement of investment and being addmitted accordingly. 4. Neither Contracting Party shall in its territory impose mandatory measures on investments by investors of the other Contracting Partythat customs, concerning the purchase of materialseconomic, means of productionor monetary union, operation, transport, marketing of its products common market or similar orders having unreasonable or discriminatory effects. This paragraph shall not apply to measures taken in accordance with the laws and regulations in the course of government procurement of goods and services at any level of the government of the Contracting Party. 5. Notwithstanding any other bilateral investment agreement the Contracting Parties have signed with other States before or after the entry into force of this Agreement, the most favoured nation treatment shall not apply to procedural or judicial matters.free trade area, 6. The provisions of paragraph 1 and 2 of this Article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party Party, or to the investments or returns of investments of such investors the benefit of any treatment, preference or privilege privilege, which may be extended by the former Contracting Party by virtue of: a. a) any existing or future customs union or economic or monetary union, free trade area or similar international forms of multilateral agreements on investments to which either of the Contracting Party Parties is or may become a party in the futureparty; b. b) any international agreement or arrangement, arrangement relating wholly or partially related mainly to taxation.

National and Most-favoured-nation Treatment. 1. Each Contracting Party shall accord in its territory accord to investments and returns of investors an investor of the other Contracting Party a and to an investment, treatment no not less favourable than that which the treatment it accords in like situations to investments and returns of its own investors, or to investors and their investments and returns of investors of any third State, whichever is more favourable with respect to the investors concernedconduct, operation, management, maintenance, use, enjoyment and sale or disposal of their investments in its territory. 2. Each Contracting Party shall accord in its territory accord to the investors of the other Contracting Party and their investments treatment no less favourable than that it accords, in like situations, to investors of a third country or to their investments with regard respect to acquisition, the operation, developmentconduct, management, maintenance, use, expansion, enjoyment and sale or other disposal of their investment, a treatment which is no less favourable than that which it accords to investments in its own investors or to investors of any third State, whichever is more favourable to the investors concernedterritory. 3. For greater certainty, the "treatment" referred to in paragraph 2 does not include procedures for the resolution of investment disputes between investors and States provided for in other international investment treaties and any other agreements. Substantive obligations in other international investment treaties and other international trade agreements do not in themselves constitute "treatment", and thus cannot give rise to a breach of this Article, absent measures adopted or maintained by a Contracting Party pursuant to those obligations. 4. The most favoured nation treatment National Treatment and Most-Favoured-Nation Treatment provisions of this Agreement shall not apply to advantages accorded by a Contracting Party pursuant to its obligations as a member of a customs, economic or monetary union, a common market or a free trade area. 5. The Contracting Parties understand the pre-establishment to extent it is done in accordance with the laws and regulations obligations of a Contracting Party relating as a member of a customs, economic, or monetary union, a common market or a free trade area to the establishment include obligations arising out of an international agreement or acquisition reciprocity arrangement of investment and being addmitted accordingly. 4. Neither Contracting Party shall in its territory impose mandatory measures on investments by investors of the other Contracting Partythat customs, concerning the purchase of materialseconomic, means of productionor monetary union, operation, transport, marketing of its products common market or similar orders having unreasonable or discriminatory effects. This paragraph shall not apply to measures taken in accordance with the laws and regulations in the course of government procurement of goods and services at any level of the government of the Contracting Party. 5. Notwithstanding any other bilateral investment agreement the Contracting Parties have signed with other States before or after the entry into force of this Agreement, the most favoured nation treatment shall not apply to procedural or judicial mattersfree trade area. 6. The provisions of paragraph 1 and 2 of this Article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party Party, or to the investments or returns of investments of such investors the benefit of any treatment, preference or privilege privilege, which may be extended by the former Contracting Party by virtue of: a. any existing or future customs union or economic or monetary union, free trade area or similar international forms of multilateral agreements on investments to which either of the Contracting Party Parties is or may become a party in the futureparty; b. any international agreement or arrangement, arrangement relating wholly or partially related mainly to taxation.

National and Most-favoured-nation Treatment. 1. Each Once a Contracting Party shall accord has admitted an investment in its territory in accordance with its laws and regulations, it shall accord to investments and returns of investors of the other Contracting Party a Party, treatment no which is fair and equitable and not less favourable than that which it accords to investments and returns of its own investors, investors or to investments and returns of investors of any third State, whichever is more favourable to the investors concernedfavourable. 2. Each Contracting Party shall accord in its territory accord to the investors of the other Contracting Party with regard to acquisitionParty, operation, development, as regards management, maintenance, use, expansion, sale enjoyment or other disposal of their investment, a treatment which is no fair and equitable and not less favourable than that which it accords to its own investors or to investors of any third State, whichever is more favourable to the investors concernedfavourable. 3. The most favoured nation treatment shall apply to the pre-establishment to extent it is done in accordance with the laws and regulations of a Contracting Party relating to the establishment or acquisition of investment and being addmitted accordingly. 4. Neither Contracting Party shall in its territory impose mandatory measures on investments by investors of the other Contracting Party, concerning the purchase of materials, means of production, operation, transport, marketing of its products or similar orders having unreasonable or discriminatory effects. This paragraph shall not apply to measures taken in accordance with the laws and regulations in the course of government procurement of goods and services at any level of the government of the Contracting Party. 5. Notwithstanding any other bilateral investment agreement the Contracting Parties have signed with other States before or after the entry into force of this Agreement, the most favoured nation treatment shall not apply to procedural or judicial matters. 6. The provisions of paragraph paragraphs 1 and 2 of this Article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party and their investments the benefit of any treatment, preference or privilege which may be extended by the former Contracting Party by virtue of:paragraphs 1 and 2 of this Article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party and their investments the benefit of any treatment, preference or privilege which may be extended by the former Contracting Party by virtue of: a. any existing or future (a) Any customs union or economic or monetary union, free trade area or a monetary union or similar international agreements leading to such unions or institutions or other forms or regional cooperation to which either of the Contracting Party Parties is or may become a party in the futureparty; b. any (b) Any international agreement or arrangement, arrangement relating wholly or partially related mainly to taxation. 4. The treatment referred to in paragraphs 1 and 2 of this Article will be granted on the basis of reciprocity.paragraphs 1 and 2 of this Article will be granted on the basis of reciprocity.

National and Most-favoured-nation Treatment. 1. Each Contracting Party shall accord in its territory accord to investments and returns of investors of the other Contracting Party a treatment no which is fair and equitable and not less favourable than that which it accords to investments and returns of its own investors, investors or to investments and returns of investors of any third State, State whichever is more favourable to the investors concernedfavourable. 2. Each Contracting Party shall accord in its territory accord to the investors of the other Contracting Party with regard to acquisitionParty, operation, development, as regards management, maintenance, use, expansion, sale enjoyment or other disposal of their investment, a treatment which is no fair and equitable and not less favourable than that which it accords to its own investors or to investors of any third State, whichever is more favourable to the investors concernedfavourable. 3. The most favoured nation treatment National Treatment and Most-Favoured-Nation Treatment provisions of this Agreement shall not apply to advantages accorded by a Contracting Party pursuant to its obligations as a member of a customs, economic, or monetary union, a common market or a free trade area. 4. The Contracting Parties understand the pre-establishment to extent it is done in accordance with the laws and regulations obligations of a Contracting Party relating as a member of a customs, economic, or monetary union, a common market or a free trade area to the establishment include obligations arising out of an international agreement or acquisition reciprocity arrangement of investment and being addmitted accordingly. 4. Neither Contracting Party shall in its territory impose mandatory measures on investments by investors of the other Contracting Partythat customs, concerning the purchase of materialseconomic, means of productionor monetary union, operation, transport, marketing of its products common market or similar orders having unreasonable or discriminatory effects. This paragraph shall not apply to measures taken in accordance with the laws and regulations in the course of government procurement of goods and services at any level of the government of the Contracting Partyfree trade area. 5. Notwithstanding any other bilateral investment agreement the Contracting Parties have signed with other States before or after the entry into force of this Agreement, the most favoured nation treatment shall not apply to procedural or judicial matters. 6. The provisions of paragraph 1 and 2 of this Article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party Party, or to the investments or returns of such investors the benefit of any treatment, preference or privilege privilege, which may be extended by the former Contracting Party by virtue of: a. a) any existing or future customs union or economic or monetary union, free trade area or similar international forms of multilateral agreements on investments to which either of the Contracting Party Parties is or may become a party in the futureparty; b. b) any international agreement or arrangement, wholly or partially related arrangement relating to taxation.

National and Most-favoured-nation Treatment. 1. Each Contracting Party shall accord in its territory accord to investments and returns of investors of the other Contracting Party a treatment no which is fair and equitable and not less favourable than that which it accords to investments and returns of its own investors, investors or to investments and returns of investors of any third State, whichever is more favourable to the investors concernedfavourable. 2. Each Contracting Party shall accord in its territory accord to the investors of the other Contracting Party with regard to acquisitionParty, operation, development, as regards management, maintenance, use, expansion, sale enjoyment or other disposal of their investment, a treatment which is no fair and equitable and not less favourable than that which it accords to its own investors or to investors of any third State, whichever is more favourable to the investors concernedfavourable. 3. The most favoured nation treatment National Treatment and Most-Favoured-Nation Treatment provisions of this Article shall not apply to advantages accorded by a Contracting Party pursuant to its obligations as a member of a customs, economic, or monetary union, a common market or a free trade area. 4. The Contracting Party understands the pre-establishment to extent it is done in accordance with the laws and regulations obligations of a Contracting Party relating as a member of a customs, economic, or monetary union, a common market or a free trade area to the establishment include obligations arising out of an international agreement or acquisition reciprocity agreement of investment and being addmitted accordingly. 4. Neither Contracting Party shall in its territory impose mandatory measures on investments by investors of the other Contracting Partythat customs, concerning the purchase of materialseconomic, means of productionor monetary union, operation, transport, marketing of its products common market or similar orders having unreasonable or discriminatory effects. This paragraph shall not apply to measures taken in accordance with the laws and regulations in the course of government procurement of goods and services at any level of the government of the Contracting Partyfree trade area. 5. Notwithstanding any other bilateral investment agreement the Contracting Parties have signed with other States before or after the entry into force of this Agreement, the most favoured nation treatment shall not apply to procedural or judicial matters. 6. The provisions of paragraph 1 and 2 of this Article Agreement shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party Party, or to the investments or returns of such investors, the benefit of any treatment, preference or privilege which may be extended by the former Contracting Party by virtue of: a. any existing or future customs union or economic or monetary union, free trade area or similar international agreements to which either of the Contracting Party is or may become a party in the future; b. any international agreement or arrangement, arrangement relating wholly or partially related mainly to taxation.

National and Most-favoured-nation Treatment. 1. Each Contracting Party shall accord in its territory to investments and returns of investors of the other Contracting Party a treatment no less favourable than that which it accords to investments and returns of its own investors, or to investments and returns of investors of any third State, whichever is more favourable to the investors concerned. 2. Each Contracting Party shall accord in its territory to the investors of the other Contracting Party with regard to acquisition, operation, development, management, maintenance, use, expansion, sale or other disposal of their investment, a treatment which is no less favourable than that which it accords to to. its own investors or to investors of any third State, whichever is more favourable to the investors concerned. 3. The most favoured nation treatment shall apply to the pre-establishment to extent it is done in accordance with the laws and regulations of a Contracting Party relating to the establishment or acquisition of investment and being addmitted accordingly. 4. Neither Contracting Party shall in its territory impose mandatory measures on investments by investors of the other Contracting Party, concerning the purchase of materials, means of production, operation, transport, marketing of its products or similar orders having unreasonable or discriminatory effects. This paragraph shall not apply to measures taken in accordance with the laws and regulations in the course of government procurement of goods and services at any level of the government of the Contracting Party. 4. The provisions of paragraphs 1 and 2 of this Article shall not be construed so as to oblige one Contracting Party to be submitted to any other mechanism of dispute settlement with investor of other Contracting Party except those explicitly provided in the Article 9 of this Agreement. 5. Notwithstanding any other bilateral investment agreement the Contracting Parties parties have signed with other States before or after the entry into force of this Agreement, the most favoured nation treatment shall not apply to procedural or of judicial matters. 6. The provisions of paragraph 1 and 2 of this Article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party the benefit of any treatment, preference or privilege which may be extended by the former Contracting Party by virtue of: a. any existing or future customs union or economic or monetary union, free trade area or similar international agreements to which either of the Contracting Party is or may become a party in the future; b. any international agreement or arrangement, wholly or partially related to taxation.

National and Most-favoured-nation Treatment. 1. Each Contracting Party shall accord in its territory accord to investments and returns of investors an investor of the other Contracting Party a and to an investment, treatment no not less favourable than that which the treatment it accords accords, in like situations to investments and returns of its own investors, or to investors and their investments and returns of investors of any third State, whichever is more favourable with respect to the investors concernedconduct, operation, management, maintenance, use, enjoyment and sale or disposal of their investments in its territory. 2. Each Contracting Party shall accord in its territory accord to the investors of the other Contracting Party and their investments treatment no less favourable than that it accords, in like situations, to investors of a third country or to their investments with regard respect to acquisition, the operation, developmentconduct, management, maintenance, use, expansion, enjoyment and sale or other disposal of their investment, a treatment which is no less favourable than that which it accords to investments in its own investors or to investors of any third State, whichever is more favourable to the investors concernedterritory. 3. For greater certainty, the “treatment” referred to in paragraph 2 of this Article does not include procedures for the resolution of investment disputes between investors and states provided for in other international investment treaties and any other agreements. Substantive obligations in other international investment treaties and other trade agreements do not in themselves constitute “treatment”, and thus cannot give rise to a breach of this Article, absent measures adopted or maintained by a Contracting Party pursuant to those obligations. 4. The most favoured nation treatment National Treatment and Most-Favoured-Nation Treatment provisions of this Agreement shall not apply to advantages accorded by a Contracting Party pursuant to its obligations as a member of a customs, economic, or monetary union, a common market or a free trade area. 5. The Contracting Parties understand the pre-establishment to extent it is done in accordance with the laws and regulations obligations of a Contracting Party relating as a member of a customs, economic, or monetary union, a common market or a free trade area to the establishment include obligations arising out of an international agreement or acquisition reciprocity arrangement of investment and being addmitted accordingly. 4. Neither Contracting Party shall in its territory impose mandatory measures on investments by investors of the other Contracting Partythat customs, concerning the purchase of materialseconomic, means of productionor monetary union, operation, transport, marketing of its products common market or similar orders having unreasonable or discriminatory effects. This paragraph shall not apply to measures taken in accordance with the laws and regulations in the course of government procurement of goods and services at any level of the government of the Contracting Party. 5. Notwithstanding any other bilateral investment agreement the Contracting Parties have signed with other States before or after the entry into force of this Agreement, the most favoured nation treatment shall not apply to procedural or judicial mattersfree trade area. 6. The provisions of paragraph 1 and 2 of this Article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party Party, or to the investments or returns of investments of such investors the benefit of any treatment, preference or privilege privilege, which may be extended by the former Contracting Party by virtue of: a. a) any existing or future customs union or economic or monetary union, free trade area or similar international forms of multilateral agreements on investments to which either of the Contracting Party Parties is or may become a party in the futureparty; b. b) any international agreement or arrangement, arrangement relating wholly or partially related mainly to taxation.

National and Most-favoured-nation Treatment. 1. Each Contracting Party shall accord in its territory accord to investments and returns of investors investments of the other Contracting Party a treatment no which is fair and equitable and not less favourable than that which it accords to investments and returns of investment of its own investors, investors or to investments and returns of investors investments of any third State, State whichever is more favourable to the investors concernedfavourable. 2. Each Contracting Party shall accord in its territory accord to the investors of the other Contracting Party with regard to acquisitionParty, operation, development, as regards management, maintenance, use, expansion, sale enjoyment or other disposal of their investment, a treatment which is no fair and equitable and not less favourable than that which it accords to its own investors or to investors of any third State, whichever is more favourable to the investors concernedfavourable. 3. The most favoured nation treatment National Treatment and Most-Favoured-Nation Treatment provisions of this Agreement shall not apply to advantages accorded by a Contracting Party pursuant to its obligations as a member of a customs, economic, or monetary union, a common market or a free trade area. 4. The Contracting Parties understand the pre-establishment to extent it is done in accordance with the laws and regulations obligations of a Contracting Party relating as a member of a customs, economic, or monetary union, a common market or a free trade area to the establishment include obligations arising out of an international agreement or acquisition reciprocity arrangement of investment and being addmitted accordingly. 4. Neither Contracting Party shall in its territory impose mandatory measures on investments by investors of the other Contracting Partythat customs, concerning the purchase of materialseconomic, means of productionor monetary union, operation, transport, marketing of its products common market or similar orders having unreasonable or discriminatory effects. This paragraph shall not apply to measures taken in accordance with the laws and regulations in the course of government procurement of goods and services at any level of the government of the Contracting Partyfree trade area. 5. Notwithstanding any other bilateral investment agreement the Contracting Parties have signed with other States before or after the entry into force of this Agreement, the most favoured nation treatment shall not apply to procedural or judicial matters. 6. The provisions of paragraph 1 and 2 of this Article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party Party, or to the investments or returns of investments of such investors the benefit of any treatment, preference or privilege privilege, which may be extended by the former Contracting Party by virtue of: a. any existing or future customs union or economic or monetary union, free trade area or similar international Any forms of multilateral agreements on investments to which either of the Contracting Party Parties is or may become a party in the futureparty; b. any Any international agreement or arrangement, wholly or partially related arrangement relating to taxation.

National and Most-favoured-nation Treatment. 1. Each Contracting Party shall accord in its territory accord to investments and returns of investors an investor of the other Contracting Party a and to an investment, treatment no not less favourable than that which the treatment it accords accords, in like situations to investments and returns of its own investors, or to investors and their investments and returns of investors of any third State, whichever is more favourable with respect to the investors concernedconduct, operation, management, maintenance, use, enjoyment and sale or disposal of their investments in its territory. 2. Each Contracting Party shall accord in its territory accord to the investors of the other Contracting Party and their investments treatment not less favourable than that it accords, in like situations, to investors of a third country or to their investments with regard respect to acquisition, the operation, developmentconduct, management, maintenance, use, expansion, enjoyment and sale or other disposal of their investmentinvestments in its territory. The concept in like situation requires an overall examination on a case-by-case basis of all situations of an investment including inter alia, a treatment its effects on the person of the third party, its effects upon the local population or the environment, the sector in which the investment is no less favourable than that which it accords made. The examination shall not be limited to its own investors or to investors biased toward any one of any third State, whichever is more favourable to the investors concernedthese factors. 3. For greater certainty, the "treatment" referred to in paragraph 2 does not include procedures for the resolution of investment disputes between investors and states provided for in other international investment treaties and any other agreements. Substantive obligations in other international investment treaties and other trade agreements do not in themselves constitute "treatment", and thus cannot give rise to a breach of this Article, absent measures adopted or maintained by a Party pursuant to those obligations. 4. The most favoured nation treatment National Treatment and Most-Favoured-Nation Treatment provisions of this Agreement shall not apply to advantages accorded by a Contracting Party pursuant to its obligations as a member of a customs, economic, or monetary union, a common market or a free trade area. 5. The Contracting Parties understand the pre-establishment to extent it is done in accordance with the laws and regulations obligations of a Contracting Party relating as a member of a customs, economic, or monetary union, a common market or a free trade area to the establishment include obligations arising out of an international agreement or acquisition reciprocity arrangement of investment and being addmitted accordingly. 4. Neither Contracting Party shall in its territory impose mandatory measures on investments by investors of the other Contracting Partythat customs, concerning the purchase of materialseconomic, means of productionor monetary union, operation, transport, marketing of its products common market or similar orders having unreasonable or discriminatory effects. This paragraph shall not apply to measures taken in accordance with the laws and regulations in the course of government procurement of goods and services at any level of the government of the Contracting Party. 5. Notwithstanding any other bilateral investment agreement the Contracting Parties have signed with other States before or after the entry into force of this Agreement, the most favoured nation treatment shall not apply to procedural or judicial mattersfree trade area. 6. The provisions of paragraph 1 and 2 of this Article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party Party, or to the investments or returns of investments of such investors the benefit of any treatment, preference or privilege privilege, which may be extended by the former Contracting Party by virtue of: a. any existing or future customs union or economic or monetary union, free trade area or similar international forms of multilateral agreements on investments to which either of the Contracting Party Parties is or may become a party in the futureparty; b. any international agreement or arrangement, arrangement relating wholly or partially related mainly to taxation.