Type:	International treaty
Date of approval :	1427-03-20
accreditation:	Royal Decree
Approval number:	م/19
Type of Accreditation:	Totally
Validity:	Valid
Joining date:	1426-01-28
Summary:	By AI The Saudi Council of Ministers approved an agreement with the Republic of Azerbaijan regarding the encouragement and protection of mutual investments, signed in Riyadh on 9 March 2005. The relevant transactions and correspondences were reviewed, including the decision of the Shura Council and the recommendations of the Committee. A royal decree was also issued approving the agreement, with the Deputy Prime Minister directed to implement the decree.

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AGREEMENT

BETWEEN

THEGOVERNMENTOFTHEKINGDOMOFSAUDIARABIA

AND

THEGOVERNMENTOFTHEREPUBLICOFAZERBAIJAN

CONCERNING

THEPROMOTIONANDRECIPROCALPROTECTION

OFINVESTMENTS

LL——

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TheGovernmentOfTheKingdomofSaudiArabia

And

TheGovernmentOfTheRepublicOfAzerbaijan

theotherState,recognizingthatthereciprocalpromotionandprotectionofsuch

Article1

theterm“investment”meanseverykindofasset,ownedorcontrolledbyan

investorofaContractingPartyintheterritoryoftheotherContractingParty

accordingtoitslegislationandinparticular,butnotexclusivelyincludes:

movableandimmovablepropertyaswellasanyotherrightsinrem,suchas

mortgages,leases,liensandpledges,usufructsandsimilarrights;

shares,stocksanddebenturesofcompaniesandotherkindsofrightsor

interestsincompaniesaswellassecuritiesissuedbyaContractingPartyor

anyofitsinvestors;

claimstomoneysuchasloansortoanyperformancehavinganeconomic

value,associatedwithaninvestment;

intellectualpropertyrights,includingbutnotlimitedtocopyrights,patents,

industrialdesigns,know-how,trademarks,tradeandbusinesssccrets,trade

names,good-will,

anyrightconferredbylaworunderpubliccontractoranylicenses,permitsor

concessionsissuedaccordingtolaw;

anyalterationoftheforminwhichassetsareinvestedorreinvestedshallnot

affecttheirclassificationasinvestment,providedthatsuchalterationisnotin

conflictwiththelegislationoftheContractingPartyintheterritoryofwhich

theinvestmentismade.

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theterm“returns”meanstheamountsyieldedbyaninvestmentinparticular,

butnotexclusivelyincludes,profit,dividends,royalties,capitalgainsorany

similarfeesorpayments;

theterm“investor”means:

inrespectoftheKingdomofSaudiArabia:

naturalpersonspossessingthenationalityoftheKingdomofSaudiArabiain

accordancewiththelawoftheKingdomofSaudiArabia;

anyentityhavingorhavingnolegalpersonalityandconstitutedin

accordancewiththelawsoftheKingdomofSaudiArabiaandhavingitshead

officeinitsterritorysuchascorporations,enterprises,cooperatives,

companies,partnerships,offices,establishments,funds,organizations,

businessassociationsandothersimilarentitiesirrespectiveofwhetherornot

theyareoflimitedliability;

theGovernmentoftheKingdomofSaudiArabiaanditsfinancialinstitutions

andauthoritiessuchastheSaudiArabianMonetaryAgency,publicfundsand

othersimilargovernmentalinstitutionsexistinginSaudiArabia.

inrespectoftheRepublicOfAzerbaijan:

anynationalpersonwhoisanationalofAzerbaijaninaccordancewithits

laws;or

anylegalpersonsuchascompany,corporation,firm,business,association,

institutionofotherentityconstitutedinaccordancewiththelawsand

regulationsoftheRepublicofAzerbaijanandhavingitsseatwithinits

territory.

Theterm“territory”means:

inrespectoftheKingdomofSaudiArabia:inadditiontothezonescontained

withinthelandboundaries,themarineandsubmarinezonesoverwhichthe

KingdomofSaudiArabiaexercisessovereigntyandsovereignor

jurisdictionalrightsunderinternationallaw.

inrespectoftheRepublicOfAzerbaijan:the“territory”oftheRepublicof

AzerbaijanincludingtherespectiveCaspianSeasector,overwhichthe

RepublicofAzerbaijanexercisessovereignandjurisdictionrights,in

accordancewithnationallegislationandinternationallaw,.

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Agreement between the Government of the Kingdom of Saudi Arabia and the Government of the Republic of Azerbaijan on the Mutual Promotion and Protection of Investments