Agreement between the Government of the Republic of Kazakhstan and the Government of the Republic of Finland on the Promotion and Mutual Protection of Investments (Astana, January 9, 2007)

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Agreement between the Government of the Republic of Kazakhstan and the Government of the Republic
of Finland on the Promotion and Mutual Protection of Investments
(Astana, January 9, 2007)

The Government of the Republic of Kazakhstan and the Government of the Republic of Finland hereinafter referred to as the «Parties»,

recognising the need to protect investments of the investors of one Party in the territory of the State of the other Party on a non-discriminatory basis;

desiring to promote greater economic co-operation between them, with respect to investments by investors of one Party in the territory of the State of the other Party;

recognising that agreement on the treatment to be accorded such investments will stimulate the flow of private capital and the economic development of the Parties;

agreeing that a stable framework for investment will contribute to maximising the effective utilisation of economic resources and improve living standards;

recognising that the development of economic and business ties can promote respect for internationally recognised labour rights;

agreeing that these objectives can be achieved without relaxing health, safety and environmental measures of general application; and

having resolved to conclude an Agreement concerning the promotion and mutual protection of investments;

have agreed as follows:

Article 1

Definitions

For the purpose of this Agreement:

1. The term «investment» means every kind of asset established or acquired in connection with business and entrepreneurial activity by an investor of one Party in the territory of the other Party in accordance with the national legislation of the State of the latter Party, including in particular, though not exclusively:

(a) movable and immovable property or any property rights such as mortgages, liens, pledges and leases;

(b) reinvested returns;

(c) shares in and stocks and debentures of a company or any other forms of participation in a company;

(d) claims to money or rights to a performance having an economic value;

(e) intellectual property rights, such as patents, copyrights, trade marks, industrial designs, business names, geographical indications as well as technical processes, know-how and good will; and

(f) concessions conferred by law, by an administrative act or under a contract by a competent authority, including concessions to search for, develop, extract or exploit natural resources.