Νόμος 3210/2003

ΑΡΘΡΟ 13

Θέση σε ισχύ - Διάρκεια - Λήξη

1. Η παρούσα Συμφωνία τίθεται σε ισχύ τριάντα ημέρες από την ημερομηνία κατά την οποία τα Συμβαλλόμενα Μέρη αντήλλαξαν έγγραφες ανακοινώσεις με τις οποίες πληροφορούν ότι ολοκληρώθηκαν οι διαδικασίες που απαιτούνται από τις αντίστοιχες νομοθεσίες τους για το σκοπό αυτό. Παραμένει σε ισχύ για μία περίοδο δέκα ετών από την ημερομηνία αυτή.

2. Εκτός εάν καταγγελθεί από Συμβαλλόμενο Μέρος τουλάχιστον ένα έτος πριν από την ημερομηνία λήξεως της ισχύος της, η παρούσα Συμφωνία παρατείνεται εν συνεχεία σιωπηρώς για δεκαετείς περιόδους. Κάθε Συμβαλλόμενο Μέρος διατηρεί το δικαίωμα να καταγγείλει τη Συμφωνία, κατόπιν ανακοινώσεως, τουλάχιστον ένα έτος πριν από την ημερομηνία λήξεως της τρεχούσης περιόδου ισχύος της.

3. Όσον αφορά επενδύσεις που πραγματοποιήθηκαν πριν από την ημερομηνία καταγγελίας της παρούσης Συμφωνίας, τα προηγούμενα άρθρα εξακολουθούν να ισχύουν για μία περαιτέρω δεκαετία από την ημερομηνία αυτή.

Έγινε εις διπλούν, στην Δαμασκό την 23η Φεβρουαρίου 2003, στην ελληνική, αραβική και αγγλική γλώσσα και όλα τα κείμενα είναι εξ ίσου αυθεντικά.

Σε περίπτωση ερμηνευτικών διαφορών, υπερισχύει το αγγλικό κείμενο.

ΓΙΑ ΤΗΝ ΚΥΒΕΡΝΗΣΗ ΤΗΣ ΓΙΑ ΤΗΝ ΚΥΒΕΡΝΗΣΗ ΤΗΣ

ΕΛΛΗΝΙΚΗΣ ΔΗΜΟΚΡΑΤΙΑΣ ΣΥΡΙΑΚΗΣ ΑΡΑΒΙΚΗΣ ΔΗΜΟΚΡΑΤΙΑΣ

Ανδρέας Λοβέρδος Δρ. Χασσάν Ελ-Ριφάι

Υφυπουργός Εξωτερικών Υπουργός Οικονομίας & Εξωτ. Εμπορίου

AGREEMENT BETWEEN

THE GOVERNMENT OF THE HELLENIC REPUBLIC

AND

THE GOVERNMENT OF THE SYRIAN ARAB REPUBLIC

ON THE PROMOTION AND RECIPROCAL PROTECTION OF

INVESTMENTS

The Government of the Hellenic Republic and the Government of the Syrian Arab Republic

Hereinafter referred to as the "Contracting Parlies",

DESIRING to intensify their economic cooperation to the mutual benefit of both States on a long term basis,

HAVING as their objective to create favourable conditions for investments by investors of either Contracting Party in the territory of the other Contracting Party,

RECOGNIZING that the promotion and protection of investments, on the basis of this Agreement, will stimulate the initiative in this field,

HAVE AGREED AS FOLLOWS:

ARTICLE 1

Definitions

For the purposes of this Agreement:

1. "Investment" means every kind of asset invested by an investor of one Contracting Party in the territory of the other Contracting Party in accordance with the legislation of the latter Contracting Party, and in particular, though not exclusively, includes:

a) movable and immovable property and any rights in rem such as servitudes, ususfructus, mortgages, liens or pledges;

b) shares in and stock and debentures of a company and any other form of participation in a company;

c) claims to money or to any performance under contract having an economic value, as well as loans connected to an investment;

d) intellectual property rights;

e) concessions under public law, including concessions to search for, cultivate, extract or exploit natural resources as well as other rights conferred by law, by contract or by decision of the authority, in accordance with the law;

A possible change in the form in which the investments have been made does not affect their character as investments.

2. "Returns" means the amounts yielded by an investment and in particular, though not exclusively, includes profit, interest, capita! gains, dividends, royalties and fees.

3. "Investor" means with regard to either Contracting Party:

a) natural persons having the nationality of that Contracting Party in accordance with its law;

b) legal persons or other entities, including companies, corporations, business associations and partnerships, which are constituted or otherwise duly organised under the laws of that Contracting Party and have their effective economic activities in the territory of that same Contracting Party.

ARTICLE 2 Scope of Application

This Agreement shall apply to investments in the territory of one Contracting Party, made in accordance with its legislation, by investors of the other Contracting Party, prior to as well as after its entry into force. However, this Agreement shall not apply to disputes which arose before its entry into force.

Once an investment has been made, it shall be subject to all the relevant laws of the Contracting Party in the territory of which the investment has been made, applicable to the particular investment.

ARTICLE 3 Promotion and Protection of Investments

1. Each Contracting Party promotes in its territory investments by investors of the other Contracting Party and admits such investments in accordance with its legislation.

2. Investments and returns of investors of a Contracting Party shall, at all times, be accorded fair and equitable treatment and shall enjoy full protection and security in the territory of the other Contracting Party.

Each Contracting Party shall ensure that the management, maintenance, use, enjoyment or disposal, in its territory, of investments by investors of the other Contracting Party, is not in any way impaired by unjustifiable or discriminatory measures.

ARTICLE 4 Treatment of Investments

1. Each Contracting Party shall accord to investments, including returns, made in its territory by investors of the other Contracting Party, treatment not less favourable than that which it accords to investments of its own investors or to investments of investors of any third State, whichever is more favourable.

2. Each Contracting Party shall accord to investors of the other Contracting Party, as regards their activity in connection with investments in its territory, treatment not less favourable than that which it accords to its own investors or to investors of any third State, whichever is more favourable.

3. The provisions of paragraphs 1 and 2 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 resulting from:

a) its participation in any existing or future customs union, economic union, regional economic integration agreement or similar international agreement, or

b) any international agreement or arrangement relating wholly or mainly to taxation.

ARTICLE 5 Expropriation

1. Investments and returns of investors Of either Contracting Party in the territory of the other Contracting Party, shall not be expropriated, nationalized or subjected to any other measure the effects of which would be tantamount to expropriatioj^iR nationalization (hereinafter referred to as "expropri^ferjJZ] except in the public interest, under due process of law, ^<aVion

ΦΕΚ 305

discriminatory basis and against payment of prompt, adequate and effective compensation. Such compensation shall amount to the market value of the investment affected immediately before the actual measure was taken or became public knowledge, whichever is the earlier, it shall include interest from the date of actual expropriation until the date of payment at a normal commercial rate and shall be freely transferable in a freely convertible currency.

2. The provisions of paragraph 1 of this Article shall also apply where a Contracting Party expropriates the assets of a company which is constituted under the laws in force in any part of its own territory and in which investors of the other Contracting Party own shares.

ARTICLE 6 Compensation for Losses

1. Investors of one Contracting Party whose investments in the territory of the other Contracting Party suffer losses owing to war or other armed conflict, a state of national emergency, civil disturbance or other similar events in the territory of the other Contracting Party shall be accorded by the latter Contracting Party treatment, as regards restitution, indemnification, compensation or other settlement, no less favourable than that which the latter Contracting Party accords to its own investors or to investors of any third State, whichever is more favourable.

2. Without prejudice to paragraph 1 of this Article, investors of one Contracting Party who, in any of the situations referred to in that paragraph suffer losses in the territory of the other Contracting Party resulting from the requisitioning of their investment or part thereof by the latter's forces or authorities, shall be accorded restitution or compensation which in either case shall be prompt, adequate and effective.

ARTICLE 7 Transfers

1. Each Contracting Party shall guarantee, in respect of investments of investors of the other Contracting Party, and without prejudice to the provisions of Article 2 of this Agreement, the free transfer of all payments relating to an investment.

The transfers shall be effected without delay, in a freely convertible currency, at the market rate of exchange applicable on the date of transfer.

2. Such transfers shall include in particular, though not exclusively:

a) capital and additional amounts to maintain or increase the investment;

b) returns;

c) funds in repayment of loans;

d) proceeds of sale or liquidation of the whole or any part of the investment;

e) compensation under Articles 5 and 6;

f) payments arising out of the settlement of a dispute.

ARTICLE 8 Subrogation

If a Contracting Party or its designated agency makes a payment under an indemnity, guarantee or contract of insurance^ against non-commercial risks, given in respect of an investmsimvj of an investor in the territory of the other Contracting Party JvjQf

latter Contracting Party shall recognise the assignment of any right or claim of such investor to the former Contracting Party or its designated" agency and the right of the former Contracting Party or its designated agency to exercise by virtue of subrogation any such right or claim to the same extent as its predecessor in title.

ARTICLE 9

Settlement of Disputes between the Contracting Parties

1. Any dispute between the Contracting Parties concerning the interpretation or application of this Agreement shall, if possible, be settled by negotiations, through.diplomatic channels.

2. If the dispute cannot thus be settled within six months from the beginning of the negotiations, it shall, upon request of either Contracting Party be submitted to an arbitration tribunal.

3. The arbitration tribunal shall be constituted ad hoc as follows: Each Contracting Party shall appoint one arbitrator and these two arbitrators shall agree upon a national of a third State as chairman. The arbitrators shall be appointed within three months, the chairman within five months from the date on which either Contracting Party has informed the other Contracting Party that it intends to submit the dispute to an arbitration tribunal.

4. If within the periods specified in paragraph 3 of this Article the necessary appointments have not been made, either Contracting Party may, in the absence of any other agreement, invite the President of the International Court of Justice to make the necessary appointments. If the President of the Court is a national of either Contracting Party or if he is otherwise prevented from discharging the said function, the Vice-Presjdent^. or if he too is a national of either Contracting ^arty^prls^j otherwise prevented from discharging the said function;, th1T>

Member of the Court next in seniority, who is not a national of either Contracting Party, shall be invited to make the necessary appointments.

5. The arbitration tribunal shall decide on the basis of respect of the law, including particularly this Agreement and other relevant agreements between the Contracting Parties, as well as the generally acknowledged rules and principles of international law.

6. Unless the Contracting Parties decide otherwise, the tribunal shall determine its own procedure.

The tribunal shall reach its decision by a majority of votes. Such decision shall be final and binding on the Contracting Parties.

7. Each Contracting Party shall bear the cost of the arbitrator appointed by itself and of its. representation. The cost of the chairman as well as the other costs will be born in equal parts by the Contracting Parties. The tribunal may, however, in its decision direct that a higher proportion of costs shall be born by one of the two Contracting Parties and this award shall be binding on both Contracting Parties.

ARTICLE 10

Settlement of Disputes between an Investor and a Contracting Party

1. Disputes between an investor of a Contracting Party and the other Contracting Party concerning an obligation of the latter under this Agreement, in relation to an investment of the former, shall, if possible, be settled by the disputing parties in an amicable way. _

2. If such disputes cannot be settled within six months^ro'm^he date either party requested amicable settlement, the^i'nvestor concerned may submit the dispute for resolution, either^v:.

a) to the competent courts of the Contracting Party in the territory of which the investment has been made, or

b) in accordance with any applicable previously agreed dispute settlement procedure, or

c) to international arbitration.

3. Where the dispute is referred to international arbitration the investor concerned may submit the dispute to:

a) the International Centre for the Settlement of Investment Disputes, established under the Convention on the Settlement of Investment Disputes between States and Nationals of Other States, opened for signature at Washington D.C. on 18 March 1965, when both Contracting Parties have acceded to the said Convention, or

b) an ad hoc arbitral tribunal to be established under the arbitration rules of the United Nations Commission on International Trade Law (U.N.C.I.T.R.A.L).

Each Contracting Party hereby consents to the submission of such dispute to international arbitration.

4. The arbitral tribunal shall decide the dispute in accordance with the provisions of this Agreement and the generally acknowledged rules and principles of international law. The awards of arbitration shall be final and binding on both parties to the dispute. Each Contracting Party shall carry out without delay any such award and shall provide in its territory for the enforcement of such award.

5. During arbitration proceedings or the enforcement of the award, the Contracting Party involved in the dispute shall not raise the objection that the investor of the other Contracting Party has received compensation under anlnsurance^cjactract in respect of all or part of the damage. " ^A ~

ARTICLE 11 Application of other Rules

1. 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 by investors of the other Contracting Party to a treatment more favourable than is provided for by this Agreement, such regulation shall, to the extent that it is more favourable, prevail over this Agreement.

2. Each Contracting Party shall observe any other obligation it may have entered into with-regard to a specific investment of an investor of the other Contacting Party.

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 at a time to be agreed upon through diplomatic channels.

ARTICLE 13 Entry into Force - Duration - Termination

1. This Agreement shall enter into force thirty days after the date-on which the Contracting Parties have exchanged written^ notifications informing each other that the procedures required?'; by their respective laws to this end have been comp1et^d:^lt"

shail remain in force for a period often years from that date.

2. Unless notice of termination has been given by either Contracting Party at least one year before the date of expiry of its validity, this Agreement shall thereafter be extended tacitly for periods of ten years, each Contracting Party reserving the right to terminate the Agreement upon notice of at least one year before the date of expiry of its current period of validity.

3. In respect of investments made prior to the date of termination of this Agreement, the foregoing Articles shail continue to be effective for a further period of ten years from that date.

Done in duplicate at Damascus on February 23,2003 in the Greek, Arabic and English languages, ail texts being equally authentic.

In case of divergence the English text shall prevail.

FOR THE GOVERNMENT OF THE HELLENIC REPUBLIC

Mr. Andreas Loverdos Deputy Minister for Foreign Affairs

FOR THE GOVERNMENT OF THE SYRIAN ARAB REPUBLIC

Dr. Ghassan El-Rifai Minister of Economy & Foreign Trade

Άρθρο δεύτερο

Η ισχύς του παρόντος νόμου αρχίζει από τη δημοσίευσή του στην Εφημερίδα της Κυβερνήσεως και της Συμφωνίας που κυρώνεται από την πλήρωση των προϋποθέσεων του άρθρου 13 παράγραφος 1 αυτής.

Παραγγέλλομε τη δημοσίευση του παρόντος στην Εφημερίδα της Κυβερνήσεως και την εκτέλεσή του ως νόμου του Κράτους.

Αθήνα, 24 Δεκεμβρίου 2003

Ο ΠΡΟΕΔΡΟΣ ΤΗΣ ΔΗΜΟΚΡΑΤΙΑΣ

ΚΩΝΣΤΑΝΤΙΝΟΣ ΣΤΕΦΑΝΟΠΟΥΛΟΣ

ΟΙ ΥΠΟΥΡΓΟΙ

ΟΙΚΟΝΟΜΙΑΣ ΚΑΙ

ΟΙΚΟΝΟΜΙΚΩΝ ΕΞΩΤΕΡΙΚΩΝ

Ν. ΧΡΙΣΤΟΔΟΥΛΑΚΗΣ Γ. ΠΑΠΑΝΔΡΕΟΥ

ΑΝΑΠΤΥΞΗΣ

ΑΠ. - ΑΘ. ΤΣΟΧΑΤΖΟΠΟΥΛΟΣ

Θεωρήθηκε και τέθηκε η Μεγάλη Σφραγίδα του Κράτους. Αθήνα, 24 Δεκεμβρίου 2003

Ο ΕΠΙ ΤΗΣ ΔΙΚΑΙΟΣΥΝΗΣ ΥΠΟΥΡΓΟΣ

Φ. ΠΕΤΣΑΛΝΙΚΟΣ

ΑΠΟ ΤΟ ΕΘΝΙΚΟ ΤΥΠΟΓΡΑΦΕΙΟ