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Pre.1 |
Preamble |
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Pre.2 |
THE CONTRACTING PARTIES TO THIS TREATY, |
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Pre.3 |
HAVING REGARD to the Charter of Paris for a New Europe signed on 21 November 1990; |
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Pre.4 |
HAVING REGARD to the European Energy Charter adopted in the Concluding Document of the Hague Conference on the European Energy Charter signed at The Hague on 17 December 1991; |
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Pre.5 |
RECALLING that all signatories to the Concluding Document of the Hague Conference undertook to pursue the objectives and principles of the European Energy Charter and implement and broaden their cooperation as soon as possible by negotiating in good faith an Energy Charter Treaty and Protocols, and desiring to place the commitments contained in that Charter on a secure and binding international legal basis; |
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Pre.6 |
DESIRING also to establish the structural framework required to implement the principles enunciated in the European Energy Charter; |
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Pre.7 |
WISHING to implement the basic concept of the European Energy Charter initiative which is to catalyse economic growth by means of measures to liberalize investment and trade in energy; |
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Pre.8 |
AFFIRMING that Contracting Parties attach the utmost importance to the effective implementation of full national treatment and most favoured nation treatment, and that these commitments will be applied to the Making of Investments pursuant to a supplementary treaty; |
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Pre.9 |
HAVING REGARD to the objective of progressive liberalization of international trade and to the principle of avoidance of discrimination in international trade as enunciated in the General Agreement on Tariffs and Trade and its Related Instruments and as otherwise provided for in this Treaty; |
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Pre.10 |
DETERMINED progressively to remove technical, administrative and other barriers to trade in Energy Materials and Products and related equipment, technologies and services; |
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Pre.11 |
LOOKING to the eventual membership in the General Agreement on Tariffs and Trade of those Contracting Parties which are not currently parties thereto and concerned to provide interim trade arrangements which will assist those Contracting Parties and not impede their preparation for such membership; |
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Pre.12 |
MINDFUL of the rights and obligations of certain Contracting Parties which are also parties to the General Agreement on Tariffs and Trade and its Related Instruments; |
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Pre.13 |
HAVING REGARD to competition rules concerning mergers, monopolies, anti-competitive practices and abuse of dominant position; |
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Pre.14 |
HAVING REGARD also to the Treaty on the Non-Proliferation of Nuclear Weapons, the Nuclear Suppliers Guidelines and other international nuclear non-proliferation obligations or understandings; |
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Pre.15 |
RECOGNIZING the necessity for the most efficient exploration, production, conversion, storage, transport, distribution and use of energy; |
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Pre.16 |
RECALLING the United Nations Framework Convention on Climate Change, the Convention on Long-Range Transboundary Air Pollution and its protocols, and other international environmental agreements with energy-related aspects; and |
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Pre.17 |
RECOGNIZING the increasingly urgent need for measures to protect the environment, including the decommissioning of energy installations and waste disposal, and for internationally-agreed objectives and criteria for these purposes, |
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Pre.18 |
HAVE AGREED AS FOLLOWS : |
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Sect.1 |
PART I |
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Art.9 |
Article 9 |
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Art.9.1 |
1) The Contracting Parties acknowledge the importance of open capital markets in encouraging the flow of capital to finance trade in Energy Materials and Products and for the making of and assisting with regard to Investments in Economic Activity in the Energy Sector in the Areas of other Contracting Parties, particularly those with economies in transition. Each Contracting Party shall accordingly endeavour to promote conditions for access to its capital market by companies and nationals of other Contracting Parties, for the purpose of financing trade in Energy Materials and Products and for the purpose of Investment in Economic Activity in the Energy Sector in the Areas of those other Contracting Parties, on a basis no less favourable than that which it accords in like circumstances to its own companies and nationals or companies and nationals of any other Contracting Party or any third state, whichever is the most favourable. |
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Art.9.2 |
2) A Contracting Party may adopt and maintain programmes providing for access to public loans, grants, guarantees or insurance for facilitating trade or Investment abroad. It shall make such facilities available, consistent with the objectives, constraints and criteria of such programmes including any objectives, constraints or criteria relating to the place of business of an applicant for any such facility or the place of delivery of goods or services supplied with the support of any such facility) for Investments in the Economic Activity in the Energy Sector of other Contracting Parties or for financing trade in Energy Materials and Products with other Contracting Parties. |
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Art.9.3 |
3) Contracting Parties shall, in implementing programmes in Economic Activity in the Energy Sector to improve the economic stability and investment climates of the Contracting Parties, seek as appropriate to encourage the operations and take advantage of the expertise of relevant international financial institutions. |
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Art.9.4 |
4) Nothing in this Article shall prevent: |
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Art.9.4.a |
a) financial institutions from applying their own lending or underwriting practices based on market principles and prudential considerations; or |
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Art.9.4.b |
b) a Contracting Party from taking measures: |
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Art.9.4.b.i |
i) for prudential reasons, including the protection of Investors, consumers, depositors, policy-holders or persons to whom a fiduciary duty is owed by a financial service supplier, or |
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Art.9.4.b.ii |
ii) to ensure the integrity and stability of its financial system and capital markets. |
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Sect.3 |
PART III |
