Resolução

Resolução da Assembleia da República n.º 75/2000

Aprova, para assinatura, o Acordo entre a República Portuguesa e a República Árabe do Egipto sobre a Promoção e a Protecção Recíprocas de Investimentos, assinado no Cairo em 28 de Abril de 1999

Artigo 1.º

Definições

Para efeitos do presente Acordo:

1 -O termo «investimentos» compreenderá toda a espécie de bens e direitos investidos por investidores de qualquer das Partes Contratantes no território da outra Parte Contratante, nos termos da respectiva legislação aplicável sobre a matéria, incluindo, em particular:
1. a)Propriedade sobre bens móveis e imóveis, bem como quaisquer outros direitos reais, tais como hipotecas, garantias, penhores e outros direitos análogos;
2. b)Acções, quotas ou outras partes sociais que representem o capital de sociedades ou quaisquer outras formas de participação e ou interesses económicos resultantes da respectiva actividade;
3. c)Direitos de crédito ou quaisquer outros direitos com valor económico;
4. d)Direitos de propriedade intelectual, tais como direitos de autor, patentes, modelos de utilidade e desenhos industriais, marcas, denominações comerciais, segredos comerciais e industriais, processos técnicos, know-how e clientela (aviamento);
5. e)Aquisição e desenvolvimento de concessões conferidas nos termos da lei por força de contrato ou outro acto administrativo, incluindo concessões para prospecção, pesquisa e exploração de recursos naturais;
6. f)Bens que, no âmbito de um contrato de locação, sejam colocados à disposição de um locador no território de uma Parte Contratante em conformidade com as suas leis e regulamentos.
  Qualquer alteração na forma de realização dos investimentos não afectará a sua qualificação como investimentos, desde que essa alteração seja feita de acordo com as leis e regulamentos da Parte Contratante no território da qual os investimentos tenham sido realizados.
2 -O termo «rendimentos» designará os proveitos ou mais-valias gerados por, ou em conexão com, investimentos num determinado período, incluindo em particular lucros, dividendos, juros, royalties ou outros rendimentos relacionados com investimentos, incluindo pagamentos por conta de assistência técnica ou de gestão.
No caso de os rendimentos de investimentos, na definição que acima lhes é dada, virem a ser reinvestidos, os rendimentos resultantes desse reinvestimento serão havidos também como rendimentos relacionados com os investimentos originais.
3 -O termo «investidores» designa:
1. a)Pessoas singulares, com a nacionalidade de qualquer das Partes Contratantes, nos termos da respectiva legislação; e
2. b)Pessoas colectivas, incluindo empresas, sociedades comerciais ou outras sociedades ou associações, que tenham sede no território de uma das Partes Contratantes e estejam constituídas e funcionem de acordo com a lei dessa Parte Contratante.
4 -O termo «território» compreenderá o território de cada uma das Partes Contratantes, tal como se encontra definido nas respectivas leis, sobre a qual a Parte Contratante em questão exerça, de acordo com o direito internacional, soberania, direitos soberanos ou jurisdição.

Artigo 2.º

Promoção e protecção dos investimentos

1 -Qualquer das Partes Contratantes promoverá e encorajará, na medida do possível, a realização de investimentos por investidores da outra Parte Contratante no seu território, admitindo tais investimentos de acordo com as respectivas leis e regulamentos aplicáveis sobre a matéria. Em qualquer caso, concederão aos investimentos tratamento justo e equitativo.
2 -Os investimentos realizados por investidores de qualquer das Partes Contratantes gozarão de plena protecção e segurança no território da outra Parte Contratante.
Nenhuma Parte Contratante sujeitará a gestão, manutenção, uso, fruição ou disposição dos investimentos realizados no seu território por investidores de outra Parte Contratante a medidas injustificadas, arbitrárias ou de carácter discriminatório.
3 -As disposições do presente artigo aplicar-se-ão aos investidores de qualquer das Partes Contratantes que já estejam estabelecidos no território da outra Parte Contratante e pretendam ampliar as suas actividades ou estabelecer-se noutros sectores. Tais investimentos deverão ser considerados como novos investimentos e, nesse sentido, ser realizados de acordo com as regras que regulam a admissão dos investimentos.

Artigo 3.º

Tratamento nacional e da nação mais favorecida

1 -Os investimentos realizados por investidores de qualquer Parte Contratante no território da outra Parte Contratante, bem como os respectivos rendimentos, serão objecto de tratamento justo e equitativo e não menos favorável do que o concedido pela última Parte Contratante aos investimentos e rendimentos de investidores de terceiros Estados.
2 -Ambas as Partes Contratantes concederão aos investidores da outra Parte Contratante, no que respeita à gestão, manutenção, uso, fruição ou disposição dos investimentos realizados no seu território, um tratamento justo e equitativo e não menos favorável do que o concedido aos seus próprios investidores ou a investidores de terceiros Estados.
3 -As disposições do presente artigo não prejudicam o direito de qualquer das Partes Contratantes de aplicar as disposições pertinentes do seu direito fiscal que distingam entre contribuintes que não se encontrem em idêntica situação no que se refere ao seu lugar de residência ou ao lugar em que o capital é investido.
4 -As disposições do presente artigo não implicam a concessão de tratamento de preferência ou privilégio por uma das Partes Contratantes a investidores da outra Parte Contratante que possa ser outorgado em virtude de:
1. a)Participação em zonas de comércio livre, uniões aduaneiras, mercados comuns existentes ou a criar, e em outros acordos internacionais similares, incluindo outras formas de cooperação económica, a que qualquer das Partes Contratantes tenha aderido ou venha a aderir; e
2. b)Acordos internacionais relacionados no todo ou em parte com matéria de natureza fiscal.

Artigo 4.º

Expropriação

1 -Os investimentos efectuados por investidores de uma das Partes Contratantes no território da outra Parte Contratante não poderão ser expropriados, nacionalizados ou sujeitos a outras medidas com efeitos equivalentes à expropriação ou nacionalização (adiante designadas como expropriação), excepto por força da lei, no interesse público, sem carácter discriminatório e mediante pronta indemnização.
2 -A indemnização deverá corresponder ao valor de mercado que os investimentos expropriados tinham à data imediatamente anterior ao momento em que a expropriação tenha sido do conhecimento público. A indemnização deverá ser paga sem demora, vencerá juros à taxa bancária usual até à data da sua liquidação e deverá ser realizada de forma adequada antes ou na data de expropriação.
3 -O investidor cujos investimentos tenham sido expropriados terá o direito, de acordo com a lei da Parte Contratante no território da qual os bens tiverem sido expropriados, à revisão do seu caso, em processo judicial ou outro, e à avaliação dos seus investimentos de acordo com os princípios definidos neste artigo.

Artigo 5.º

Compensação por perdas

Os investidores de uma das Partes Contratantes que venham a sofrer perdas nos investimentos realizados no território da outra Parte Contratante, em virtude de guerra ou outros conflitos armados, revolução, estado de emergência nacional ou outros eventos considerados equivalentes pelo direito internacional, receberão dessa Parte Contratante tratamento não menos favorável do que o concedido pela última aos seus próprios investidores ou a investidores de terceiros Estados, consoante o que for mais favorável, no que diz respeito à restituição, indemnização ou outro tipo de compensações. As compensações daí resultantes deverão ser transferíveis livremente, sem demora, em moeda convertível.

Artigo 6.º

Transferências

1 -Cada Parte Contratante, em conformidade com a respectiva legislação aplicável à matéria, garantirá aos investidores da outra Parte Contratante a livre transferência das importâncias relacionadas com os investimentos, nomeadamente:
1. a)Do capital e das importâncias adicionais necessárias à manutenção ou ampliação dos investimentos;
2. b)Dos rendimentos definidos no n.º 2 do artigo 1.º deste Acordo;
3. c)Das importâncias necessárias para o serviço, reembolso e amortização de empréstimos;
4. d)Do produto resultante da alienação ou da liquidação total ou parcial dos investimentos;
5. e)Das indemnizações ou outros pagamentos previstos nos artigos 4.º e 5.º deste Acordo; ou
6. f)De quaisquer pagamentos preliminares que possam ter sido efectuados em nome do investidor de acordo com o artigo 7.º do presente Acordo.
2 -As transferências referidas neste artigo serão efectuadas sem demora, em moeda convertível, à taxa de câmbio aplicável na data de transferência.

Artigo 7.º

Sub-rogação

No caso de uma das Partes Contratantes ou a agência por ela designada efectuar pagamentos a um dos seus investidores por virtude de uma garantia prestada a um investimento realizado no território da outra Parte Contratante, ficará por esse facto sub-rogada nos direitos e acções desse investidor, podendo exercê-los nos mesmos termos e condições que o titular originário.

Artigo 8.º

Diferendos entre as Partes Contratantes

1 -Os diferendos que surjam entre as Partes Contratantes sobre a interpretação ou aplicação do presente Acordo serão, na medida do possível, resolvidos através de negociações por via diplomática.
2 -Se as Partes Contratantes não chegarem a acordo no prazo de seis meses após o início das negociações, o diferendo será submetido a um tribunal arbitral, a pedido de qualquer das Partes Contratantes, nos termos do presente artigo.
3 -O tribunal arbitral será constituído ad hoc, do seguinte modo: cada Parte Contratante designará um membro e ambos os membros proporão um nacional de um terceiro Estado como presidente, que será nomeado pelas duas Partes Contratantes. Os membros serão nomeados no prazo de dois meses e o presidente no prazo de três meses a contar da data em que uma das Partes Contratantes tiver comunicado à outra a intenção de submeter o diferendo a um tribunal arbitral.
4 -Se os prazos fixados no n.º 3 deste artigo não forem observados, qualquer das Partes Contratantes poderá, na falta de qualquer outro acordo, solicitar ao Presidente do Tribunal Internacional de Justiça que proceda às necessárias nomeações. Se o Presidente estiver impedido ou for nacional de uma das Partes Contratantes, as nomeações caberão ao Vice-Presidente.
5 -Se este também estiver impedido ou for nacional de uma das Partes Contratantes, as nomeações caberão ao membro do Tribunal que se siga na hierarquia, desde que esse membro não seja nacional de qualquer das Partes Contratantes.
6 -O presidente do tribunal arbitral deverá ser nacional de um Estado com o qual ambas as Partes Contratantes mantenham relações diplomáticas.
7 -O tribunal arbitral decidirá por maioria de votos. As suas decisões serão definitivas e obrigatórias para ambas as Partes Contratantes. A cada Parte Contratante caberá suportar as despesas do respectivo árbitro, bem como da respectiva representação no processo perante o tribunal arbitral. Ambas as Partes Contratantes suportarão em partes iguais as despesas do presidente, bem como as demais despesas. O tribunal arbitral definirá as suas próprias regras processuais.

Artigo 9.º

Diferendos entre uma Parte Contratante e um investidor da outra Parte Contratante

1 -Os diferendos emergentes entre um investidor de uma das Partes Contratantes e a outra Parte Contratante relacionados com um investimento do primeiro no território da segunda serão resolvidos de forma amigável através de negociações.
2 -Se os diferendos não puderem ser resolvidos de acordo com o disposto no parágrafo 1 deste artigo no prazo de seis meses contados da data em que uma das parte litigantes o tiver suscitado, o investidor em causa poderá submeter o diferendo:
1. a)Aos tribunais competentes da Parte Contratante no território da qual se situa o investimento; ou
2. b)Ao Centro Internacional para a Resolução de Diferendos Relativos a Investimentos para a Conciliação ou Arbitragem nos termos da Convenção para a Resolução de Diferendos entre Estados e Nacionais de Outros Estados, celebrada em Washington D. C. em 18 de Março de 1965.
3 -Nenhuma das Partes Contratantes poderá recorrer às vias diplomáticas para resolver qualquer questão relacionada com a arbitragem, salvo se o processo já estiver concluído e a Parte Contratante não tiver acatado nem cumprido a decisão.
4 -A sentença será obrigatória para ambas as partes e não será objecto de qualquer tipo de recurso para além dos previstos na referida Convenção. A sentença será vinculativa de acordo com a lei interna da Parte Contratante no território da qual se situa o investimento em causa.

Artigo 10.º

Aplicação de outras regras

Se para além do presente Acordo as disposições da lei interna de uma das Partes Contratantes ou as obrigações emergentes do direito internacional em vigor ou que venha a vigorar entre as duas Partes Contratantes estabelecerem um regime, geral ou especial, que confira aos investimentos efectuados por investidores da outra Parte Contratante um tratamento mais favorável do que o previsto no presente Acordo, prevalecerá sobre este Acordo o regime mais favorável.

Artigo 11.º

Aplicação do Acordo

O presente Acordo aplicar-se-á igualmente aos investimentos realizados antes e após a sua entrada em vigor, por investidores de uma das Partes Contratantes no território da outra Parte Contratante, em conformidade com as respectivas disposições legais, com excepção dos diferendos surgidos antes da respectiva entrada em vigor.

Artigo 12.º

Consultas

Os representantes das Partes Contratantes deverão, sempre que necessário, realizar reuniões sobre qualquer matéria relacionada com a aplicação deste Acordo. Estas consultas serão realizadas sob proposta de qualquer das Partes Contratantes, em lugar e data a acordar por via diplomática.

Artigo 13.º

Entrada em vigor e duração

1 -Este Acordo entrará em vigor 30 dias após a data em que ambas as Partes Contratantes tiverem notificado uma à outra, por escrito, do cumprimento dos respectivos procedimentos constitucionais, requeridos para o efeito.
2 -Este Acordo permanecerá em vigor por um período de 10 anos, que será prorrogável por subsequentes períodos de 5 anos, excepto se o Acordo for denunciado por escrito por qualquer das Partes Contratantes com a antecedência de 12 meses da data do termo do período em curso.
3 -Ocorrendo o término do presente Acordo nos termos do número precedente, e relativamente aos investimentos já realizados, as disposições dos artigos 1.º a 12.º continuarão em vigor por mais um período de 10 anos a partir da data de denúncia do presente Acordo.
Feito em duplicado, no Cairo, no dia 28 do mês de Abril do ano de 1999, em língua portuguesa, árabe e inglesa, ambos os textos fazendo igualmente fé. Em caso de divergência de interpretação, prevalecerá o texto em inglês.
Pela República Portuguesa:
(ver assinatura no documento original)
Pela República Árabe do Egipto:
(ver assinatura no documento original)
(ver texto em língua árabe no documento original)
AGREEMENT BETWEEN THE PORTUGUESE REPUBLIC AND THE ARAB REPUBLIC OF EGYPT ON THE MUTUAL PROMOTION AND PROTECTION OF INVESTMENTS.
The Portuguese Republic and the Arab Republic of Egypt, hereinafter referred to as the «Contracting Parties»:
Desiring to intensify the economic co-operation between the two States;
Intending to encourage and create favourable conditions for investments made by investors of one Contracting Party in the territory of the other Contracting Party on the basis of equality and mutual benefit;
Recognising that the mutual promotion and protection of investments on the basis of this Agreement will stimulate business initiative;
have agreed as follows:
Article 1
Definitions
For the purpose of this Agreement:
1 -The term «investments» shall mean every kind of assets invested by investors of one Contracting Party in accordance with the laws and regulations of the latter in the territory of the other Contracting Party including, in particular, though not exclusively:
1. a)Movable and immovable property as well as any other rights in rem, such as mortgages, liens, pledges and similar rights;
2. b)Shares, stocks, debentures or other forms of interest in the equity of companies and or economic interests from the respective activity;
3. c)Claims to money or to any performance having an economic value;
4. d)Intellectual property rights such as copyrights, patents, utility models, industrial designs, trade marks, trade names, trade and business secrets, technical processes, know-how and good will;
5. e)Concessions conferred by law under a contract or an administrative act of a competent state authority, including concessions for prospecting, research and exploitation of natural resources;
6. f)Goods that, under a leasing agreement, are placed at the disposal of a lessee in the territory of a Contracting Party in conformity with its laws and regulations.
  Any alteration of the form in which assets are invested shall not affect their character as investments, provided that such a change does not contradict the laws and regulations of the relevant Contracting Party.
2 -The term «returns» shall mean the amount yielded by investments, over a given period, in particular, though not exclusively, shall include profits, dividends, interests, royalties or other forms of income related to the investments including technical assistance fees.
In cases where the returns of investments, as defined above, are reinvested, the income resulting from the reinvestment shall also be considered as income related to the first investments.
3 -The term «investors» means:
1. a)Natural persons having the nationality of either Contracting Party, in accordance with its laws, and
2. b)Legal persons, including corporations, commercial companies or other companies or associations, which have a main office in the territory of either Contracting Party and are incorporated or constituted in accordance with the law of that Contracting Party.
4 -The term «territory» means the territory of either of the Contracting Parties, as defined by their respective laws, over which the Contracting Party concerned exercises, in accordance with international law, sovereignty, sovereign rights or jurisdiction.
Article 2
Promotion and protection of investments
1 -Each Contracting Party shall promote and encourage, as far as possible, within its territory investments made by investors of the other Contracting Party and shall admit such investments into its territory in accordance with its laws and regulations. It shall in all cases accord such investments fair and equitable treatment.
2 -Investments made by investors of either Contacting Party shall enjoy full protection and security in the territory of the other Contracting Party.
Neither Contracting Party shall in any way impair by unreasonable, arbitrary or discriminatory measures the management, maintenance, use, enjoyment or disposal of investments in its territory of investors of the other Contracting Party.
3 -This article should be applicable when investors of one of the Contracting Parties are already established in the territory of the other Contracting Party and wish to extend their activities or to carry out activities in other sectors. Such investments shall be considered as new ones and, to that extent, shall be made in accordance with the rules on the admission of investments.
Article 3
National and most favoured nation treatment
1 -Investments made by investors of one Contracting Party in the territory of the other Contracting Party, as well as the returns therefrom, shall be accorded treatment which is fair and equitable and not less favourable than the latter Contracting Party accords to the investments and returns of investors of any third State.
2 -Investors of one Contracting Party shall be accorded by the other Contracting Party, as regards the management, maintenance, use, enjoyment or disposal of their investments, treatment which is fair and equitable and not less favourable than the latter Contracting Party accords to its own investors or to investors of any third State.
3 -The provisions of this article shall be without prejudice to the right of either Contracting Party to apply the relevant provisions of their tax law which distinguish between tax-payers who are not in the same situation with regard to their place of residence or with regard to the place where their capital is invested.
4 -The provisions of this article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party the benefit of any treatment, preference or privilege which may be extended by the former Contracting Party by virtue of:
1. a)Any existing or future free trade area, customs union, common market or other similar international agreements including other forms of regional economic co-operation to which either of the Contracting Parties is or may become a Party; and
2. b)Any international agreement relating wholly or mainly to taxation.
  Article 4
  Expropriation
1 -Investments made by investors of either Contracting Party in the territory of the other Contracting Party shall not be expropriated, nationalised or subject to any other measure with effects equivalent to expropriation or nationalisation (hereinafter referred to as expropriation) except by virtue of law for a public interest, on a non-discriminatory basis and against prompt compensation.
2 -Such compensation shall amount to the market value of the expropriated investments immediately before the expropriation became publicly known. The compensation shall be paid without delay, shall include the usual commercial interest until the date of payment and shall have been made in an appropriate manner at or prior to the time of expropriation for the determination and payment of such compensation.
3 -The investor whose investments are expropriated shall have the right under the law of expropriating Contracting Party to a prompt review by a judicial or other competent authority of that Contracting Party of his or its case and of valuation of his or its investments in accordance with the principles set out in this article.
Article 5
Compensation for losses
Investors of either Contracting Party whose investments suffer losses in the territory of the other Contracting Party, owing to war or armed conflict, revolution, a state of national emergency or other events considered as such by international law, shall be accorded treatment no less favourable by the latter Contracting Party than that Contracting Party accords to the investments of its own investors, or of any third State, whichever is more favourable as regards restitution, indemnification or other means of compensation. All payments made under this article shall be, without delay, freely transferable in convertible currency.
Article 6
Transfers
1 -Pursuant to its own legislation, each Contracting Party shall guarentee investors of the other Contracting Party the free transfers of sums related to their investments, in particular, though not exclusively:
1. a)Capital and additional amounts necessary to maintain or increase the investments;
2. b)The returns defined in paragraph 2 of article 1 of this Agreement;
3. c)Funds in service, repayment and amortisation of loans, recognised by both Contracting Parties to be an investment;
4. d)The proceeds obtained from the sale or from the total or partial liquidation of the investment;
5. e)Any compensation or other payment referred to in articles 4 and 5 of this Agreement; or
6. f)Any preliminary payments that may be made in the name of the investor in accordance with article 7 of this Agreement.
2 -The transfers referred to in this article shall be made without delay at the exchange rate applicable on the date of the transfers in convertible currency.
Article 7
Subrogation
If either Contracting Party or its designated agency makes any payments to one of its investors as a result of a guarantee in respect of an investment made in the territory of the other Contracting Party, the former Contracting Party shall be subrogated to the rights and shares of this investor, and may exercise them according to the same terms and conditions as the original holder.
Article 8
Disputes between the Contracting Parties
1 -Disputes between the Contracting Parties concerning the interpretation and application of this Agreement should, as far as possible, be settled by negotiations through diplomatic channels.
2 -If the Contracting Parties fail to reach such settlement within six (6) months after the beginning of negotiations, the dispute shall, upon the request of either Contracting Party, be submitted to an arbitral tribunal, in accordance with the provisions of this article.
3 -The Arbitral Tribunal shall be constituted ad hoc, as follows: each of the Contracting Parties shall appoint one member and these two members shall propose a national of a third State as chairman to be appointed by the two Contracting Parties. The members shall be appointed within two (2) months and the chairman shall be appointed within three (3) months from the date on which either Contracting Party notifies the other of its wish to submit the dispute to an arbitral tribunal.
4 -If the deadlines specified in paragraph 3 of this article are not complied with, either Contracting Party may, in the obsence of any other agreement, invite the President of the International Court of Justice to make the necessary appointments. If the President is prevented from doing so, or is a national of either Contracting Party, the Vice-President shall be invited to make the necessary appointments.
5 -If the Vice-President is also a national of either Contracting Party or if he is prevented from making the appointments for any other reason, the appointments shall be made by the member of the Court who is next in seniority and who is not a national of either Contracting Party.
6 -The chairman of the Arbitral Tribunal shall be a national of a third State with which both Contracting Parties maintain diplomatic relations.
7 -The Arbitral Tribunal shall rule according to majority vote. The decisions of the tribunal shall be final and binding on both Contracting Parties. Each Contracting Party shall be responsible for the costs of its own member and of its representatives at the arbitral proceedings. Both Contracting Parties shall assume an equal share of the expenses incurred by the chairman, as well as any other expenses. In all other respects, the tribunal court shall define its own rules of procedure.
Article 9
Disputes between a Contracting Party and an investor of the other Contracting Party
1 -Any dispute which may arise between one Contracting Party and an investor of the other Contracting Party concerning an investment of that investor in the territory of the former Contracting Party shall be settled amicably through negotiations.
2 -If such a dispute cannot be settled within a period of six (6) months from the date of the request for settlement, the investor concerned may submit the dispute to:
1. a)The competent court of the Contracting Party for decision; or
2. b)The International Centre for Settlement of Investment Disputes (ICSID) through conciliation or arbitration, established under the Convention on the Settlement of Investment Disputes between States and Nationals of other States, opened for signature in Washington D. C., on March 18, 1965.
3 -Neither Contracting Party shall pursue through diplomatic channels any matter referred to arbitration until the proceedings have terminated and a Contracting Party has failed to abide by or to comply with the award rendered by the International Centre for Settlement of Investment Disputes.
4 -The award shall be enforceable on the parties and shall not be subject to any appeal or remedy other than that provided for in said Convention. The award shall be enforceable in accordance with the domestic law of the Contracting Party in whose territory the investment in question is situated.
Article 10
Application of other rules
If the provisions of law of either Contracting Party or obligations under international law existing at present or established hereafter between the Contracting Parties in addition to this Agreement contain a regulation, whether general or specific, entitling investments made by investors of the other Contracting Party to a treatment more favourable than is provided for by this Agreement, such provisions shall prevail over this Agreement.
Article 11
Application of the Agreement
This Agreement shall apply to all investments made by investors from one of the Contracting Parties in the territory of the other Contracting Party in accordance with the respective legal provisions, prior to as well as after its entry into force, but shall not apply to any dispute concerning investments which have arisen before its entry into force.
Article 12
Consultations
Representatives of the Contracting Parties shall, whenever necessary, hold consultations on any matter affecting the implementation of this Agreement. These consultations shall be held on the proposal of one of the Contracting Parties at a place and a time to be agreed upon through diplomatic channels.
Article 13
Entry into force and duration
1 -This Agreement shall enter into force thirty (30) days after the Contracting Parties notify each other in writing that their respective internal constitutional procedures have been fulfilled.
2 -This Agreement shall remain in force for a period of ten (10) years and continue in force thereafter for subsequent five (5) years periods unless, twelve (12) months before its expiration either Contracting Party notifies the other in writing of its intention to terminate the Agreement.
3 -In respect of investment made prior to the date of termination of this Agreement the provisions of articles 1 to 12 shall remain in force for a further period of ten (10) years from the date of termination of this Agreement.
Done in duplicate in Cairo, this 28 day of April 1999 in the Portuguese, Arabic and English languages, all texts being equally authentic. In case of any divergence of interpretation, the English text shall prevail.
For the Portuguese Republic:
(ver assinatura no documento original)
For the Arab Republic of Egypt:
(ver assinatura no documento original)

Artigo 13.º

Entrada em vigor e duração

1 -Este Acordo entrará em vigor 30 dias após a data em que ambas as Partes Contratantes tiverem notificado uma à outra, por escrito, do cumprimento dos respectivos procedimentos constitucionais, requeridos para o efeito.
2 -Este Acordo permanecerá em vigor por um período de 10 anos, que será prorrogável por subsequentes períodos de 5 anos, excepto se o Acordo for denunciado por escrito por qualquer das Partes Contratantes com a antecedência de 12 meses da data do termo do período em curso.
3 -Ocorrendo o término do presente Acordo nos termos do número precedente, e relativamente aos investimentos já realizados, as disposições dos artigos 1.º a 12.º continuarão em vigor por mais um período de 10 anos a partir da data de denúncia do presente Acordo.
Feito em duplicado, no Cairo, no dia 28 do mês de Abril do ano de 1999, em língua portuguesa, árabe e inglesa, ambos os textos fazendo igualmente fé. Em caso de divergência de interpretação, prevalecerá o texto em inglês.
Pela República Portuguesa:
(ver assinatura no documento original)
Pela República Árabe do Egipto:
(ver assinatura no documento original)
(ver texto em língua árabe no documento original)
AGREEMENT BETWEEN THE PORTUGUESE REPUBLIC AND THE ARAB REPUBLIC OF EGYPT ON THE MUTUAL PROMOTION AND PROTECTION OF INVESTMENTS.
The Portuguese Republic and the Arab Republic of Egypt, hereinafter referred to as the «Contracting Parties»:
Desiring to intensify the economic co-operation between the two States;
Intending to encourage and create favourable conditions for investments made by investors of one Contracting Party in the territory of the other Contracting Party on the basis of equality and mutual benefit;
Recognising that the mutual promotion and protection of investments on the basis of this Agreement will stimulate business initiative;
have agreed as follows:
Article 1
Definitions
For the purpose of this Agreement:
1 -The term «investments» shall mean every kind of assets invested by investors of one Contracting Party in accordance with the laws and regulations of the latter in the territory of the other Contracting Party including, in particular, though not exclusively:
1. a)Movable and immovable property as well as any other rights in rem, such as mortgages, liens, pledges and similar rights;
2. b)Shares, stocks, debentures or other forms of interest in the equity of companies and or economic interests from the respective activity;
3. c)Claims to money or to any performance having an economic value;
4. d)Intellectual property rights such as copyrights, patents, utility models, industrial designs, trade marks, trade names, trade and business secrets, technical processes, know-how and good will;
5. e)Concessions conferred by law under a contract or an administrative act of a competent state authority, including concessions for prospecting, research and exploitation of natural resources;
6. f)Goods that, under a leasing agreement, are placed at the disposal of a lessee in the territory of a Contracting Party in conformity with its laws and regulations.
  Any alteration of the form in which assets are invested shall not affect their character as investments, provided that such a change does not contradict the laws and regulations of the relevant Contracting Party.
2 -The term «returns» shall mean the amount yielded by investments, over a given period, in particular, though not exclusively, shall include profits, dividends, interests, royalties or other forms of income related to the investments including technical assistance fees.
In cases where the returns of investments, as defined above, are reinvested, the income resulting from the reinvestment shall also be considered as income related to the first investments.
3 -The term «investors» means:
1. a)Natural persons having the nationality of either Contracting Party, in accordance with its laws, and
2. b)Legal persons, including corporations, commercial companies or other companies or associations, which have a main office in the territory of either Contracting Party and are incorporated or constituted in accordance with the law of that Contracting Party.
4 -The term «territory» means the territory of either of the Contracting Parties, as defined by their respective laws, over which the Contracting Party concerned exercises, in accordance with international law, sovereignty, sovereign rights or jurisdiction.
Article 2
Promotion and protection of investments
1 -Each Contracting Party shall promote and encourage, as far as possible, within its territory investments made by investors of the other Contracting Party and shall admit such investments into its territory in accordance with its laws and regulations. It shall in all cases accord such investments fair and equitable treatment.
2 -Investments made by investors of either Contacting Party shall enjoy full protection and security in the territory of the other Contracting Party.
Neither Contracting Party shall in any way impair by unreasonable, arbitrary or discriminatory measures the management, maintenance, use, enjoyment or disposal of investments in its territory of investors of the other Contracting Party.
3 -This article should be applicable when investors of one of the Contracting Parties are already established in the territory of the other Contracting Party and wish to extend their activities or to carry out activities in other sectors. Such investments shall be considered as new ones and, to that extent, shall be made in accordance with the rules on the admission of investments.
Article 3
National and most favoured nation treatment
1 -Investments made by investors of one Contracting Party in the territory of the other Contracting Party, as well as the returns therefrom, shall be accorded treatment which is fair and equitable and not less favourable than the latter Contracting Party accords to the investments and returns of investors of any third State.
2 -Investors of one Contracting Party shall be accorded by the other Contracting Party, as regards the management, maintenance, use, enjoyment or disposal of their investments, treatment which is fair and equitable and not less favourable than the latter Contracting Party accords to its own investors or to investors of any third State.
3 -The provisions of this article shall be without prejudice to the right of either Contracting Party to apply the relevant provisions of their tax law which distinguish between tax-payers who are not in the same situation with regard to their place of residence or with regard to the place where their capital is invested.
4 -The provisions of this article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party the benefit of any treatment, preference or privilege which may be extended by the former Contracting Party by virtue of:
1. a)Any existing or future free trade area, customs union, common market or other similar international agreements including other forms of regional economic co-operation to which either of the Contracting Parties is or may become a Party; and
2. b)Any international agreement relating wholly or mainly to taxation.
  Article 4
  Expropriation
1 -Investments made by investors of either Contracting Party in the territory of the other Contracting Party shall not be expropriated, nationalised or subject to any other measure with effects equivalent to expropriation or nationalisation (hereinafter referred to as expropriation) except by virtue of law for a public interest, on a non-discriminatory basis and against prompt compensation.
2 -Such compensation shall amount to the market value of the expropriated investments immediately before the expropriation became publicly known. The compensation shall be paid without delay, shall include the usual commercial interest until the date of payment and shall have been made in an appropriate manner at or prior to the time of expropriation for the determination and payment of such compensation.
3 -The investor whose investments are expropriated shall have the right under the law of expropriating Contracting Party to a prompt review by a judicial or other competent authority of that Contracting Party of his or its case and of valuation of his or its investments in accordance with the principles set out in this article.
Article 5
Compensation for losses
Investors of either Contracting Party whose investments suffer losses in the territory of the other Contracting Party, owing to war or armed conflict, revolution, a state of national emergency or other events considered as such by international law, shall be accorded treatment no less favourable by the latter Contracting Party than that Contracting Party accords to the investments of its own investors, or of any third State, whichever is more favourable as regards restitution, indemnification or other means of compensation. All payments made under this article shall be, without delay, freely transferable in convertible currency.
Article 6
Transfers
1 -Pursuant to its own legislation, each Contracting Party shall guarentee investors of the other Contracting Party the free transfers of sums related to their investments, in particular, though not exclusively:
1. a)Capital and additional amounts necessary to maintain or increase the investments;
2. b)The returns defined in paragraph 2 of article 1 of this Agreement;
3. c)Funds in service, repayment and amortisation of loans, recognised by both Contracting Parties to be an investment;
4. d)The proceeds obtained from the sale or from the total or partial liquidation of the investment;
5. e)Any compensation or other payment referred to in articles 4 and 5 of this Agreement; or
6. f)Any preliminary payments that may be made in the name of the investor in accordance with article 7 of this Agreement.
2 -The transfers referred to in this article shall be made without delay at the exchange rate applicable on the date of the transfers in convertible currency.
Article 7
Subrogation
If either Contracting Party or its designated agency makes any payments to one of its investors as a result of a guarantee in respect of an investment made in the territory of the other Contracting Party, the former Contracting Party shall be subrogated to the rights and shares of this investor, and may exercise them according to the same terms and conditions as the original holder.
Article 8
Disputes between the Contracting Parties
1 -Disputes between the Contracting Parties concerning the interpretation and application of this Agreement should, as far as possible, be settled by negotiations through diplomatic channels.
2 -If the Contracting Parties fail to reach such settlement within six (6) months after the beginning of negotiations, the dispute shall, upon the request of either Contracting Party, be submitted to an arbitral tribunal, in accordance with the provisions of this article.
3 -The Arbitral Tribunal shall be constituted ad hoc, as follows: each of the Contracting Parties shall appoint one member and these two members shall propose a national of a third State as chairman to be appointed by the two Contracting Parties. The members shall be appointed within two (2) months and the chairman shall be appointed within three (3) months from the date on which either Contracting Party notifies the other of its wish to submit the dispute to an arbitral tribunal.
4 -If the deadlines specified in paragraph 3 of this article are not complied with, either Contracting Party may, in the obsence of any other agreement, invite the President of the International Court of Justice to make the necessary appointments. If the President is prevented from doing so, or is a national of either Contracting Party, the Vice-President shall be invited to make the necessary appointments.
5 -If the Vice-President is also a national of either Contracting Party or if he is prevented from making the appointments for any other reason, the appointments shall be made by the member of the Court who is next in seniority and who is not a national of either Contracting Party.
6 -The chairman of the Arbitral Tribunal shall be a national of a third State with which both Contracting Parties maintain diplomatic relations.
7 -The Arbitral Tribunal shall rule according to majority vote. The decisions of the tribunal shall be final and binding on both Contracting Parties. Each Contracting Party shall be responsible for the costs of its own member and of its representatives at the arbitral proceedings. Both Contracting Parties shall assume an equal share of the expenses incurred by the chairman, as well as any other expenses. In all other respects, the tribunal court shall define its own rules of procedure.
Article 9
Disputes between a Contracting Party and an investor of the other Contracting Party
1 -Any dispute which may arise between one Contracting Party and an investor of the other Contracting Party concerning an investment of that investor in the territory of the former Contracting Party shall be settled amicably through negotiations.
2 -If such a dispute cannot be settled within a period of six (6) months from the date of the request for settlement, the investor concerned may submit the dispute to:
1. a)The competent court of the Contracting Party for decision; or
2. b)The International Centre for Settlement of Investment Disputes (ICSID) through conciliation or arbitration, established under the Convention on the Settlement of Investment Disputes between States and Nationals of other States, opened for signature in Washington D. C., on March 18, 1965.
3 -Neither Contracting Party shall pursue through diplomatic channels any matter referred to arbitration until the proceedings have terminated and a Contracting Party has failed to abide by or to comply with the award rendered by the International Centre for Settlement of Investment Disputes.
4 -The award shall be enforceable on the parties and shall not be subject to any appeal or remedy other than that provided for in said Convention. The award shall be enforceable in accordance with the domestic law of the Contracting Party in whose territory the investment in question is situated.
Article 10
Application of other rules
If the provisions of law of either Contracting Party or obligations under international law existing at present or established hereafter between the Contracting Parties in addition to this Agreement contain a regulation, whether general or specific, entitling investments made by investors of the other Contracting Party to a treatment more favourable than is provided for by this Agreement, such provisions shall prevail over this Agreement.
Article 11
Application of the Agreement
This Agreement shall apply to all investments made by investors from one of the Contracting Parties in the territory of the other Contracting Party in accordance with the respective legal provisions, prior to as well as after its entry into force, but shall not apply to any dispute concerning investments which have arisen before its entry into force.
Article 12
Consultations
Representatives of the Contracting Parties shall, whenever necessary, hold consultations on any matter affecting the implementation of this Agreement. These consultations shall be held on the proposal of one of the Contracting Parties at a place and a time to be agreed upon through diplomatic channels.
Article 13
Entry into force and duration
1 -This Agreement shall enter into force thirty (30) days after the Contracting Parties notify each other in writing that their respective internal constitutional procedures have been fulfilled.
2 -This Agreement shall remain in force for a period of ten (10) years and continue in force thereafter for subsequent five (5) years periods unless, twelve (12) months before its expiration either Contracting Party notifies the other in writing of its intention to terminate the Agreement.
3 -In respect of investment made prior to the date of termination of this Agreement the provisions of articles 1 to 12 shall remain in force for a further period of ten (10) years from the date of termination of this Agreement.
Done in duplicate in Cairo, this 28 day of April 1999 in the Portuguese, Arabic and English languages, all texts being equally authentic. In case of any divergence of interpretation, the English text shall prevail.
For the Portuguese Republic:
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For the Arab Republic of Egypt:
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