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 Tajikistan




The original official languages of this BIT were: Chinese, Tajik, and English.  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 Tajikistan (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 favourable 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 in the territory of the one Contracting Party in accordance with its laws and regulations, and shall include in particular:
    1. movable and immovable property as well as property rights;
    2. shares and any other kind of participation in enterprises and companies;
    3. claims to money or to any performance having an economic value;
    4. copyrights, industrial properties, know-how and technologies;
    5. rights to engage business activities conferred by law or contract, particularly, right to search for, or exploit natural resources.
  2. The term "investor" means, with regard to either Contracting Party,
    1. any natural persons who have nationality of that Contracting Party in accordance with its laws;
    2. any enterprise or company established in the territory of either Contracting Party in its territory;

However, such natural person, enterprise or company shall have the right subject to one Contracting Party to invest in the other Contracting Party.

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

Article 2

  1. Each Contracting Party shall 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. Without prejudice to its laws and regulations, each Contracting Party shall favorably consider granting visas and working permits to nationals of the other Contracting Party engaging in activities associated with investments made in the territory of the former Contracting Party.

Article 3

  1. Either Contracting Party shall ensure the fair treatment and protection for the investment made by investors of the other Contracting Party in its territory.
  2. The treatment referred to in Paragraph 1 of this Article shall not be less favorable than that accorded to investments and activities associated with such investments of investors of any third State.
  3. The treatment and privilege as mentioned in Paragraph 1 and 2 of this Article shall not include any preferential treatment or privilege accorded by the other Contracting Party to investments of investors of a third State by virtue of:
    1. participating free trade area, customs unions or economic unions, or mutual economic assistance organization, or similar preferential treatment and privilege effectively accorded to participators of organizations above before this Agreement is signed.
    2. international agreements on taxation 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 undue delay, and shall be convertible and be freely transferred from the territory of one Contracting Party to the territory of the other Contracting Party.
  3. 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 treatment accorded by the latter Contracting Party, if any, shall be no less favorable than treatment which the latter Contracting Party accords to investors of any third State.

Article 5
Each Contracting Party shall, subject to its own laws and regulations, guarantee to the investors of the other Contracting Party upon fulfillment by them of all tax obligations to transfer abroad of payments related to their investments made in its territory, including:

    1. returns as defined in Article 1 Para.(c) of this Agreement;
    2. proceeds obtained from the total or partial liquidation of investments;
    3. payments on loans agreement relevant to an investment;
    4. payments arising out of technology assistance, technology service and management fee;
    5. earnings or other remuneration of nationals of the other Contracting Party who work or provide service in connection with an investment in the territory of the former Contracting Party pursuant to amounts in accordance with laws and regulations;
    6. payments for accomplishing contracting projects;

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 be applicable to investment made after the date of January 1 of 1985.

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 constituted in the following way: within two months from the date on which either Contracting Party receives the written notice requesting for arbitration from the other Contracting Party, each Contracting Party shall appoint one arbitrator. These two arbitrators shall, within further two months from the date of appointment of the second arbitrator, together select a third arbitrator who is a national of a third State which has diplomatic relations with both Contracting Parties; the third arbitrator may be the Chairman upon consent from both Contracting Parties.
  4. If the arbitral tribunal has not been constituted within 4 months on accepting written notice to submit the dispute to arbitral tribunal, where no existing agreement of either Contracting Party,  either Contracting Party shall invite the President of the International Court of Justice to make any necessary appointments.
  5. If the President is a national of either Contracting Party or is otherwise prevented from discharging the said function, either Contracting Party shall invite one senior member of the International Court of Justice who is not a national of either Contracting Party shall be invited to make the necessary appointments
  6. The arbitral tribunal shall determine its own procedure. The tribunal shall reach its award in accordance with the provisions of this Agreement and generally accepted principles of international law.
  7. The arbitral tribunal shall reach its award by a majority of votes. Such award shall be final and binding upon both Contracting Parties. The Tribunal shall, upon the request of either Contracting Party, explain the reasons of its award.
  8. Each party concerned shall bear the cost of its own arbitrator and its representation in the arbitral proceedings. The cost of the Chairman in discharging his arbitral function and other fees shall be borne in equal parts by the Contracting Parties.

 Article 9

  1. Dispute with respect to the amount of compensation in the case of expropriation between one Contracting Party and an investor of the other Contracting Party may be submitted to the arbitral tribunal.
  2. Such arbitral tribunal shall be formed for each specific case as follows: each party to the dispute shall appoint an arbitrator. These two arbitrators shall appoint an arbitrator as Chairman who shall be a national of a third State. 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 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 Chairman of the International Arbitration Institute of the Stockholm Chamber of Commerce to make the necessary appointments.
  3. The arbitral tribunal shall determine its own procedure, and in such case may refer to the Rules of the Arbitration Institute of the Stockholm Chamber of Commerce.
  4. The arbitral tribunal shall reach its award by a majority of votes. Such award shall be final and binding upon both Contracting Parties. Either Contracting Party shall undertake responsibilities to enforce such award in accordance with its domestic laws.
  5. The arbitral tribunal shall deliver awards in accordance with provisions of this Agreement, laws and regulations of the Contracting Party in territory of which the investment was made (including rules of conflicts law) and generally accepted principles of international law.
  6. Each party concerned shall bear the cost of its own arbitrator and its representation in the arbitral proceedings. The cost of the Chairman in discharging his arbitral function and other fees shall be borne in equal parts by the Contracting Parties.

  
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 two Contracting Parties shall hold meetings for the purpose of:
    1. reviewing the implementation of this Agreement;
    2. exchanging information on legal issues and investment opportunities concerning investment;
    3. resolving dispute arising out of investment;
    4. studying other issues in connection with investments;
    5. studying on possible amendments and supplements of this Agreement.
  1. Where either Contracting Party requests consultation on any matters of Para. 1 of this Article, the other Contracting Party shall give prompt response and the consultation be held alternately in Beijing and Dushanbe.

 

 Article 12

  1. This Agreement shall enter into force on the 30th day from the date of each Contracting Party shall notify the other Contracting Party by mutual notice of the fulfillment of its internal legal procedures required, 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 specified in Para.1 of this Article.
  3. After the expiration of the initial five year period, either Contracting State may at any time thereafter terminate this Agreement by giving a written notice to the other Contracting Party. The notice shall come into force after a period of 12 months since the receipt of such 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 fifteen 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 March 9, 1993 in the Chinese, Tajik and Russian languages, all texts being equally authentic.

For the Government of the People’s Republic of China

Representative

LI Lanqing
(Signature )

 

For the Government of the Republic of Tajikistan

Representative

Samadov
(Signature )