AGREEMENT BETWEEN THE KINGDOM OF SAUDI ARABIA AND THE BELGO-LUXENBOURC ECONOMIC UNION (B.L.E.U.) CONCERNING THE RECIPROCAL PROMOTION AND PROTECTION OF INVESTMENTS

(43gu16nds)
AGREEMENT
BETWEEN
THEKINGDOMOFSAUDIARABIA
AND
THEBELGO-LUXEMBOURGECONOMICUNION(B.L.E.U.)
CONCERNING
THERECIPROCALPROMOTIONANDPROTECTION
OFINVESTMENTS
(43gu17nds)
TheGovernmentof,theKingdomofSaudiArabia,
iand
TheGovernmentoftheKingdomofBelgium,actingbothinitsownname
andinthenameoftheGovernmentoftheGrand-DuchyofLuxembourg,by
virtueofexistingagreements,theWalloonGovernment,theFlemish
Government,andtheGovernmentoftheBrussels-CapitalRegion,
(hereinafterreferredtoasthe"ContractingParties")
desiringtointensifyeconomiccooperationbetweenbothContracting
Partics,intendingtocreatefavourableconditionsforinvestmentsby
investorsofeitherPartyintheterritoryoftheotherParty,recognizingthat
thereciprocalpromotionandprotectionofsuchinvestmentsareaptto
stimulateprivatebusinessinitiativeandtoincreasetheprosperityofboth
Parties,
haveagreedasfollows:
ARTICLE1
ForthepurposesofthisAgreement:
theterm“investment”meanseverykindofasset,ownedorcontrolled
byaninvestorofaContractingPartyintheterritoryoftheother
ContractingPattyaccordingtoitslegislationandinparticular,butnot
exclusivelyincludes:-
a)movableandimmovablepropertyaswellasanyotherrightsin
rem,suchasmortgages,liensandpledges,usufructsandsimilar
rights;
sharesingeneral,stocksanddebenturesofcompaniesandother
kindsofrightsorinterestsincompaniesaswellassecuritiesissued
byaContractingPartyoranyofitsinvestors;
(43gu18nds)
bonds,claimstomoneysuchasloansortoanyperformance
havinganeconomicvalue,associatedwithaninvestment;
intellectualpropertyrights,includingbutnotlimitedto
copyrights,patents,industrialdesigns,know-how,trade-marks,
tradeandbusinesssecrets,tradenamesandgood-will;
anyrightconferredbylaworunderpubliccontractorany
licenses,permitsorconcessionsissuedaccordingtolaw;
Anyalterationoftheforminwhichassetsareinvestedshallnotaffecttheir
classificationasinvestment.
theterm“returns”meansanyamountsyieldedbyaninvestmentsuchas
profit,dividends,royalties,capitalgainsoranysimilarfeesor
payments.
theterm“investor”means:
a)inrespectoftheKingdomofSaudiArabia:
I-naturalpersonspossessingthenationalityoftheKingdomof
SaudiArabiainaccordancewiththelawoftheKingdomof
SaudiArabia;
anyentityhavingorhavingnolegalpersonalityandconstituted
inaccordancewiththelawsoftheKingdomofSaudiArabia
andhavingitsheadofficeinitsterritorysuchascorporations,
enterprises,cooperatives,companies,partnerships,offices,
establishments,funds,organizations,business‘associationsand
othersimilarentitiesirrespectiveofwhetherornottheyareof
limitedliability;
theGovernmentoftheKingdomofSaudiArabiaandits
financialinstitutionsandauthoritiessuchastheSaudiArabian

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