Agreement on the Encouragement and Reciprocal Protection of Investments Between the Government of the People's Republic of China and the Government of the Republic of Belarus




The original official languages of this BIT were: Chinese and Belarusian.  The Tsinghua Rule of Law Project has produced this unofficial English language version from the original Chinese text.  While the English language version is for the benefit of the website readers, users should rely on official language versions when advising clients or undertaking some legal process.  

The Government of the People's Republic of China and the Government of the Republic of Belarus (hereinafter referred to as “the Contracting Parties”),
Intending to encourage and protect investment made in the territory of one Contracting Party by investors of the other Contracting Party, and to create favorable conditions, and  
Desiring to develop the economic cooperation of both States on the basis of principle of mutual respect for sovereignty and principle of equality and mutual benefits;

Have agreed as follows:
Article 1

For the purpose of this Agreement

  1. The term “investment” means every kind of asset invested by investors of one Contracting Party in accordance with the laws and regulations of the other Contracting Party in the territory of the latter, and in particularly, though not exclusively, includes:
    1. movable or immovable property and other property rights;
    2. shares in companies or other form of participation in such companies or enterprises;
    3. a claim to money or to any performance having an economic value;
    4. copyrights, industrial rights, know-how and technological processes;
    5. concessions conferred by law or contract to participate economic activities, and in particularly, the concessions to search for or exploit natural resources.
  2. The term “ investor ”  with respect to either Contracting Party, means:
    1. any natural or legal person of that Contracting Party in accordance with its laws and regulations;
    2. enterprise or company constituted in either Contracting Party in accordance with its laws and regulations.

Provided that such natural person, enterprise or company of one Contracting Party shall have the right in accordance with its laws and regulations to invest in the other Contracting Party.

  1. The term “returns” means amounts yielded by an investment and includes but without limitation to profits, dividends, interests or royalties.
  2. The term “territory” means:
  3. the territory of the People’s Republic of China and the territory of the Republic of Belarus.

Article 2

  1. Each Contracting Party shall as far as possible encourage investors of the other Contracting Party to make investments in its territory and admit such investments in accordance with its laws and regulations
  2. Subject to its laws and regulations, one Contracting Party shall provide assistance in and facilities for obtaining visas and working permit to nationals of the other Contracting Party engaging in activities associated with investments made in the territory of that Contracting Party.

Article 3

  1. Treatment accorded to investments made by investors of one Contracting Party shall be no less favorable than that accorded to such investments  made by investors of a third State.
  2. The treatment in Paragraph 1 of this Article accorded by one Contracting Party shall be no less favorable than that accorded to investments or activities associated to such investments made by investors of any third State.
  3. The provisions of Paragraph 1 and 2 of this Article shall not be applicable to oblige one Contracting Party to extend preferential treatment or privilege accorded or to be accorded to investors or investments of any third State by virtue of:
    1. signed or to be signed agreements on economic and customs union or free trade zone;
    2. international agreement on taxations or other taxation agreements;
    3. agreements on frontier trade.

Article 4

  1. Neither Contracting Party shall take any measures of expropriation nationalization or any dispossession having effect equivalent to nationalization or expropriation (hereinafter referred to as” expropriation”) against the investments made by investors of the other Contracting Party except for needs of the public interests; under domestic legal procedure; against compensation without discrimination.
  2. The compensation mentioned in Paragraph 1 of this Article shall be equivalent to the actual value of the expropriated investments at the date before the day of expropriation decision was passed or publicized.

Compensation shall be made without unreasonable delay, and shall be convertible and be freely transferred from the territory of one Contracting Party to the territory of the other Contracting Party.

  1. Investors of one Contracting Party whose investments in the territory of the other Contracting Party suffer losses owing to war, a state of national emergency, revolt, riot or other similar events in the territory of the latter Contracting Party shall be accorded by the latter Contracting Party, treatment as regards indemnification or other relevant settlements, not less favorable than treatment accorded to investors of any third State.

Article 5
Each Contracting Party shall subject to its laws and regulations, guarantee to the investors of the other Contracting Party the transfer of their returns after paying all taxation, including

  1. ‘returns’ stipulated in Paragraph 3, Article 1 of this Agreement;
  2. proceeds obtained from the total or partial liquidation of investments;
  3. payments made pursuant to a loan agreement in connection with investments;
  4. payments of technical assistance or technical service fee, management fee;
  5. earnings or salaries of nationals of the other Contracting Party pursuant to amounts in accordance with laws and regulations.

Article 6
The transfers mentioned in Article 4 and Article 5 of this Agreement shall be made at the prevailing market rate of exchange of the Contracting Party accepting the investments on the date of transfer.

Article 7
This Agreement shall apply to all investments, which are made prior to or after its entry into force by investors of either Contracting Party in accordance with the laws and regulations of the other Contracting Party in the territory of latter.

Article 8

  1. Any dispute between the Contracting Parties concerning the interpretation or application of this Agreement shall, as far as possible, be settled through diplomatic channel.
  2. If a dispute cannot thus be settled within six months, it shall, upon the request of either Contracting Party, be submitted to an ad hoc arbitral tribunal.
  3. Such tribunal comprises of three arbitrators, and shall be formed as the following way: within two months of the receipt of the written notice requesting arbitration, each Contracting Party shall appoint one arbitrator. Those two arbitrators shall, within further two months, together select a national of a third State having diplomatic relations with both Contracting Parties as Chairman of the arbitral tribunal with consent from both Contracting Parties.
  4. If the arbitral tribunal has not been constituted within four months from the receipt of the written notice requesting arbitration, either Contracting Party may, in the absence of any other agreement, invite the President of the International Court of Justice to make any necessary appointments. If the President is a national of either Contracting Party or is otherwise prevented from discharging the said functions, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said functions shall be invited to make such necessary appointments.
  5. The arbitral tribunal shall determine its own procedure. The arbitral tribunal shall reach its award in accordance with the provisions of this Agreement and the generally recognized principles of international law.
  6. The arbitral tribunal shall reach its award by a majority of votes. Such award shall be final and binding upon both Contracting Parties. The arbitral tribunal shall, upon the request of either Contracting Party, explain the reasons of its award.
  7. Each Contracting Party shall bear the costs of its appointed arbitrator and of its representation in arbitral proceedings. The relevant costs of the Chairman and the tribunal shall be bone in equal parts by the Contracting Parties.

Article 9

  1. Any dispute between an investor of one Contracting Party and the other Contracting Party in connection with the amount of compensation against expropriation may be submitted to an arbitral tribunal for arbitration.
  2. Such an arbitral tribunal shall be constituted for each individual case in the following way: each party to the dispute shall appoint an arbitrator, and these two shall select a national of any other State which has diplomatic relations with the two Contracting Parties as Chairman. The first two arbitrators shall be appointed within two months of the written notice for arbitration by either party to the dispute to the other, and the Chairman shall be selected within four months. If within the period specified above the tribunal has not been constituted either party to the dispute may invite the President of the International Court of Arbitration of the International Chamber of Commerce in Stockholm to make the necessary appointments.
  3. The tribunal shall determine its own procedure. However, the tribunal may, in the course of determination of procedure, take as guidance the Arbitration Rules of the International Chamber of Commerce in Stockholm.
  4. The tribunal shall reach its decision by a majority of votes. Such decision shall be final and binding on both parties to the dispute. Both Contracting Parties shall commit themselves to the enforcement of the decision in accordance with their respective domestic law.
  5. The tribunal shall adjudicate in accordance with the provisions of this Agreement, the laws of the Contracting Party to the dispute accepting the investment (including its rules on the conflict of laws), as well as the generally recognized principles of international law.
  6. Each party to the dispute shall bear the cost of its appointed member of the tribunal and of its representation in the proceedings. The cost of the appointed Chairman and the remaining costs shall be borne equally by the parties to the dispute.

Article 10
If the treatment accorded by on Contracting Party to investment or activities associated with such investments made by the other Contracting Party in accordance with its laws and regulations or international agreement with both Contracting Parties involved as members is more favorable than the treatment provided in this Agreement, the more favorable treatment shall be applicable.

Article 11

  1. The representatives of the Contracting Parties shall hold meetings for the purpose of:
    1. reviewing the implementation of this Agreement;
    2. exchanging legal information and investment opportunities;
    3. resolving disputes arising out of investments;
    4. studying other issues in connection with investment;
    5. studying on possible amendments or supplements to this Agreement.
  2. Where either Contracting Party requests consultation on any matter of Paragraph 1 of this Article, the other Contracting Party shall give prompt response and the consultation be held alternatively in Beijing and Minsk.

Article 12

  1. This Agreement shall enter into force on the 30th day after the date on which both Contracting Parties have notified each other in writing that their respective internal legal procedures necessary have been fulfilled and shall remain in force for a period of five years.
  2. This Agreement shall continue in force if either Contracting Party fails to give a written notice to the other Contracting Party to terminate this Agreement one year before the expiration of the period specified in Paragraph 1 of this Article.
  3. After the expiration of initial five years period, either Contracting Party may at any time thereafter terminate this Agreement by giving a written notice to the other Contraction Party. The notice shall come into effect after 12 months the other Contracting Party’s receipt of the notice.
  4. With respect to investments made prior to the date of termination of this Agreement, the provisions of Article 1 to 11 shall continue to be effective for a further period of 15 years from such date of termination.

IN WITNESS WHEREOF, the duly authorized representatives of their respective Governments have signed this Agreement.
Done in duplicate at Beijing on January 11, 1993 in the Chinese and Belarusian languages, both texts being equally authentic.

For the Government of
the People’s Republic of China

                  
For the Government of
the Republic of Belarus