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Article 3 Treatment of Investments

Article 3
Treatment of Investments

 

1. Each Contracting Party shall accord to investments made in its territory by investors of the other Contracting Party treatment no less favourable than that which it accords to investments of its own investors or to investments of investors of any third state, whichever is more favourable.

2. Each Contracting Party shall accord to investors of the other Contracting Party, as regards their activity in connection with investments treatment no less favourable than that which it accords to its own investors or to investors of any third state, whichever is more favourable.

3. Each Contracting Party reserves the right to make or maintain in its legislation limited exceptions from national treatment granted in accordance with paragraphs 1 and 2 of this Article. Any new exception will not apply to investments made in its territory by investors of the other Contracting Party before the entry into force of such an exception, unless the exception relates to the maintenance of defense, national security and public order, protection of the environment, morality or public health.

4. The most-favoured-nation treatment granted in accordance with paragraphs 1 and 2 of this Article shall not apply to advantages and privileges which a Contracting Party is providing or will provide in the future:

a) in connection with its participation in a free trade area, a customs or economic union, or similar international agreements;

b) by virtue of the agreements in the field of economic cooperation of the Russian Federation with the states that constituted the former Union of Soviet Socialist Republics;

c) by virtue of the Unified Economic Agreement between the Countries of the Gulf Cooperation Council of which the State of Kuwait is a party.