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Article 3

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Article 3

    1
  • Each Contracting Party shall ensure fair and equitable treatment of the investments of nationals of the other Contracting Party and shall not impair, by unreasonable or discriminatory measures, the operation, management, maintenance, use, enjoyment or disposal thereof by those nationals.
    2
  • More particularly, each Contracting Party shall accord to such investments full security and protection which in any case shall not be less than that accorded either to investments of its own nationals or to investments of nationals of any third State, whichever is more favourable to the national concerned.
    3
  • If a Contracting Party has accorded special advantages to nationals of any third State by virtue of agreements establishing customs unions, economic unions or similar institutions, or on the basis of interim agreements leading to such unions or institutions, that Contracting Party shall not be obliged to accord such advantages to nationals of the other Contracting Party.
    4
  • Each Contracting Party shall observe any obligation it may have entered into with regard to investments of nationals of the other Contracting Party.
    5
  • If the investments by nationals of one Contracting Party are entitled whether by the law of the other Contracting Party or under international law, to a treatment more favourable than is provided for by the present Agreement, such treatment shall prevail.
    6
  • Special incentives granted by one Contracting Party only to its nationals in order to stimulate the creation of local industries are considered compatible with this Article, provided they do not significantly affect the investments and activities of nationals of the other Contracting Party in connection with an investment.

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