- 1
- Each Contracting Party shall extend to investments, in its territory, of nationals of the other Contracting Party treatment no less favourable than that granted to investments of nationals of any third State.
- 2
- The provisions of this Agreement relative to the grant of treatment no less favourable than that accorded to investments of nationals of any third State shall not be construed as to oblige one Contracting Party to extend to the nationals of the other Contracting Party the benefit of any treatment, preference or privilege resulting from:
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- (a)any existing or future customs union, common market, free trade area, or regional economic organization of which either Contracting Party is or may become a member;
- (b)any international agreement or arrangement relating wholly or mainly to taxation or any domestic legislation relating wholly or mainly to taxation;
- (c)membership in the Association of Southeast Asian Nations (ASEAN), with respect to the Republic of the Philippines.
