Albania–Malaysia BIT (1994)

rights with r~spect to csoy-fghts. patent processes and ~~ow-ho~ ~nd (v) business conressions con~errerl by law or under co~tract, including concessions to search for~ cultivate, e tract. cn- exploit natural resources; b) "f-eturns" means the3fflount yielded particcila.r~ thOligh f1CJt e::·:cltt·51.ve1~J~ jnclt~des. prc)fit:~ lnt.er2st .. capital g~lns, ~ividends, royalties or fees. c) "in\!E'stor" means! (i) any natural person ng the citizenship of or permanently in a Contracting Party or in accordance with its laws; or (i i) corporation, partnership. tru"s t;; oint-vent n'? organisation, association or eht se incorporated or duly const.:ituted n accordance with appli~able laws o~ that Contracting Party. with respect to Malaysia, all land terri the Federation of Malaysia. the territorial S2~< its ~ed and subsoil and airs~ace ~bDve; territorial sea and the subsoil of the Alba~ia 35 well as the continental shelve~ over which t~e Republic of Albania n accordance with internation~l law international Dr

th~n that accorded to investments made third St,"d:E'. E~ch Contrc4 ting Pat-ty '7.ha 11 in i:-s investors of t~e other Contr-act ing management. maintenance, use, enjoyment or disposal of their investment. treatment which less favourable than that which it accords to investors 0 4 a~j third State. The provision of this Agreement relative to the ranting of treatment not less favourable than that accorded to the nvestors of :::Iny thit-d State shall not be constr·ued SCI as to obI one Contracting Party to extend to the investors Of the other the benefit of any treatment, preference or privilege !'"-esul ting from: (a) any existing or future customs union or free trade area or a common market or a monetar)l union or <:::'1. mi 1 ar international agreement or other forms of regional cooperation to which either of the Contra ting Parties s or may become a party; or the adoption of an agreement designed to lead to the formation or e~t~ntion of such a union or area within a reasonable length of time~ or (b) any international agreement Dr arrangement relating wholly or mainly to taxation or any domestic legislation relating wholly or mainly to ta ation ARTICLE 4 sation ~or Losses 1 [""hen in··.le::;tments in'Jest'::n-s, '1f 21 ther Cor-,t>--.;'l:Cr r-·c; c· ,.-ty ·sL:.ffer l,c"::;':;;es ;~-:v.Jitlg to wat-, ~t··[ni?,.j confli t;; a ~.tate ,-:]-F /

s reqards P?stit tion, ndemr fi atio~. cr:;mpensation 0'- other- settlef"len of 3"y thirj Sf te. to ~aragraph 1 of this Article. inv suf 4 er losses in the ter-jto~y of the Ccntracting Par-t requ istic.ning of their proper a.Llthori ties; ( b) destruction of their property authorities which was not caused in combat action the necessity of the situation '0,1-'2] 1 be a cc::wded j ust'Etnd adeq!\ate cc,mpensation -For tt-'e los.ses sustained during the period of t~e requistioning or as a result of the destruction of the property. Resulting payments shall he ~reely tr3nsferable in ·3 freely usable cJrrency without delay ARTICLE ::=, E propriation < 1. t:ske f ~<pr':)priation, nationalizaticn L,r ,"Iny other dispos,·::;:e<:::.sic:r-; having effect equivalent to n2tiona1iz3tion or p'propriation thp f""lf t T-ie Centra ting P~r+y p~~e

the meaSLlres are accompan i ed b../" pro\! j si ems -Fe P2 ment of prompt, Such compe~satiDn shall amount to the ma~ket VB} e 0 .~p investmer;t affected immediately he~ore became public knowl Contracting Party. Any ~nreasonable delay in payA~nt 0+ commerci.a11y reasonable r-a-te as agreed upon bv bo+h parties or- at SLch rate as prescribed law. 2. The investor affected shall have a right~ to prompt r-eview. a judicial or other independent authority of that Contracting Party ~ of hi 8r its case and of the valuation of his or its investment in accordance with the principles set out in this Article. ARTICLE 6 triation of Investment 1. Each Contracting Party shall, subject to its laws, regulations and national policies allow without unreasonable delay the transfer in any freely usable CL!n'''ency: assistance and technical fees, interest and other current income~ ~cc~uing from any investment of the investors of the other rontracting P~r (h) f~-(}m the to ",,1 or part aJ 1 quidation any inv~streent made vpstors of the other CDntr~cti~ P:;l.rt/; bcrrowincs/]cacs given

oth~r Contracti~g Part t~rritory of the other Contr~cting Part The -,. .. The Cortracting Parti~s undertake to accord to the transfers n:;d:err~d to in par2.1]r"lph 1 of thi<:. Article a trpatment3 favourable as that accorded to the transfer ori i a.ing frrm investments made bv investors of any third State. ARTICLE 7 Settlement of Investment Disputes Between a Contracting Party and an Investor of the Dth~r Contracting Party .1 • dispute which may arise hetween an investor of one Contract ng P2 r ty the ii- connect on with an investment in the territory of that the~- Contract ing Pa shall be subject to egotiations hetween the part.ies in d ...,L. di pute between an investor of one Contract "Ind the other Contracting Part cannot be thus settled within a peried of si~ months. the investor ha 1 1 be en t j tIed the asp either (2) the Internati Di<:=putes (ICSIfI) havi.ng

( b) an arbitrator or i ternational ad hoc arbitral t t Lir-.=i J The Pa t es to the dispute may agree n w-iti~g to ify hall ':Ie fin 1 :>..nd bindi;-jg on both Parties +:0 the dispute. Neither Contracting Party shall pursue through dip 1 c;,-ne tic Lh ch~nnels any matter referri?d to arb tratirm .. "e proceedings have terminated or a Contracting Par h~.s -failed to abide by or ~omply with the award ren~ered the Arbitral ARTICLE 8 Settlement of Disputes Between trH? Contractir,g Part es L Disputes between the Contracting Parties concerning t:he i terpretation or appI icat ion of this r-eemen t s:,hC:rtl J ('1 "= possible, be settled through diplo~atic ~hannels. 2 .. If ·2 dispute between the Contracting Parties Cdr, t thc; settled, within si;r months it shall upon the of Such an arbitral tr-ibunal s.hall be constituted fDr- '?a h in the following way. Within two ~cnths f the ret:ei of the Party shall a memhers shall ~hen ~elect a national of ~ t lr-O State~hD II

If within the periods speci~ied i thE' necessar/ apppint'Trent'::; made, Contracting Party may, in the absence of any ot~er agreement, inv,ite the President of the International Cour-t :::,1 ,]ustj,-'r.::> to any necessary :=\ tments. If the Pr!?sident Qation31 of either Contracting Party or he is otr'en';li:se prevE'ntE'd from discharging the said function, the Vice PrE'sident shall be invited to make the nE'cessary ~ppointments. If the Vice-PresidE'nt is a na-l-ional "f either Contracting Party or if he too is prevented from dis function, the mE'~bers of the International Cou~t of Justice next in seniori who is not a national o~ either Contracting Party shall be i vited to make the necessary appointments The arbitral t ibunal shall reach its decision of votes. Such deci ion shall be binding on both Contracting Parties. Each Contracting Party shall bear the cost of its own member of the tribunal and of its representation iT) the prDceedinfJ'=" ~ the cost of the Chairman rE'maining costs sh~]l be borne in equal the Contracting Parties The t.ri bun direct that a hiqher proportion of costs shall be horne one of the two Contract ng Partj shall be binding on both Contracting Parties. shall determine its own procedure. A!=::TICLE go tion If a Contracting Par or its designated agency m2k~s tee accorded in respect ~f an in estment <c:ha 1 ]

the nvestor to the former Contracting P~rt! its designated 3gency~ 3S well ~s. the former Contracting Party or its designated agency is entitled the virtue of atic!n to e~ercise the rights and en-force the claims cf that investor and shall assume the obligations related to the ip\.restment" The su ated rights or claims shall not exceed the original rights or claims of the investor. APTICLE 10 Application to Investments This reeement "i.hall appl";t t.o investments made in the territory of either Contract Pa in accordance ,~,d th ts ls>gislation, rules or regulations by lnvestors of the other Contracting Party prior to as well as after the entry into force of this reement. However the provisions of this Agreement shall at apply to any dispute, laim or difference which arose before its antry into force. ARTICLE 11 lication of Other Rules and Special Co~mitmen~s both ano~her i ternat on 1 agreement to wh~ h P::=;)·-t:i.es t j ng F' rt /' 'or Etr;y f ~. ~ '7' ~. -2r- e r'- i to ;--.i :,~! f .j- he '-- '"

!f the treatment to be accorded one Contrac+ing Part investors of the other Contr~cting Party n CCC:r-dar:cp wi t,h contracts hv" ! ~greement, the more favourable shall be accorded. ARITCLE 12 Entry into Force~ Duration and Termination .1. • This Agreement shall enter into force thir ("""':0 ) the Jater date on which the Goverment"" 01' the Contracting Parties have noti f led each at.her- that the! r const i tu tiona 1 requirement for the entry into force of this reernen t h2,'/"" been fulfi lIed. The later date """hall refer to the date C'-) which the last notification letter is sent. This Agreement shall remain in force for a period of ten (10) hall continue in TOrce, unless terminated In accor-dance with paragraph 3 of this Article. Either Contracting Par may by giving one (1) year's written nc·tioe to the other Contracting terminate Agreement at the end of the initial ten (1 0 ) ye3r period or 3nytime thereafter. 4 Whith respect to invesments made or acquired prior to the at this c:.h;;..11 f tpnT!ir.ation. /

Done chipl ca te tn Bahasa Malaysia, any divergence of inter aton, the Englis te t hall preval~ FOR THE GOVERMENT FOR THE GOVERNMENT OF THE OF MALAYSIA REPUBLIC OF ALBANIA