ALCA FTAA ZLEA - Investment: Standards - Argentina/Venezuela

Free Trade Area of the Americas - FTAA

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Investment Agreements in the Western Hemisphere: A Compendium

Agreement Between Argentina and Venezuela
16 November 1993

Subject: III. Treatment

A. Standards

1. Fair & Equitable Treatment
Yes. Each Contracting Party, in accordance with international law, shall at all times accord fair and equitable treatment to investments of investors of the other Contracting Party. (Article 4 (1)).

2. Full Protection and Security
Yes, full legal protection to admitted investments of investors of the other Contracting Party. (Article 4 (2)).

3. Non-Discrimination
Yes. Each Contracting Party, in accordance with international law, shall not impair the management, maintenance, use, enjoyment or disposal of investments of investors of the other Contracting Party through unjustified and discriminatory measures. (Article 4 (1)).

4. National Treatment
Yes, to admitted investments of investors of the other Contracting Party. (Article 4 (2)).

5. Most-Favored-Nation Treatment
Yes, to admitted investments of investors of the other Contracting Party. (Article 4 (2)).

B. Exceptions
None of the Contracting Parties is obliged to extend to investments of investors of the other Contracting Party benefits, advantages or privileges that it accords to investors of third States as a result of : a) its participation or association in a free trade area, customs union, common market or integration agreement; b) a taxation agreement; c) bilateral agreements which provide concessional financing, subscribed by Argentina with Italy on December 10, 1987, and with Spain on June 3, 1988. (Article 4 (3)).

C. Other Aspects

1. Performance Requirements

2. Others
If the provisions in the legislation of a Contracting Party, or if the existing or future obligations under international law between the two Contracting Parties, or if an agreement between an investor of a Contracting Party and the other Contracting Party include provisions granting to investments of investors of the first Contracting Party a more favorable treatment, these provisions shall prevail (if they are more favorable). (Article 9). A Contracting Party shall fulfill the obligations it has entered into with respect to an investor of the other Contracting Party (and his investments). (Article 4 (4)). Investors of a Contracting Party suffering losses with respect to their investments in the territory of the other Contracting Party due to war or other armed conflicts, national emergency, revolt, insurrection or uprising, shall receive treatment, in regard to restitution, indemnification, compensation or other settlement, no less favorable than that accorded by the latter Contracting Party to its own investors or investors of any third State. (Article 7). Investors of a Contracting Party suffering losses with respect to their investments in the territory of the other Contracting Party due to war or other armed conflicts, national emergency, revolt, insurrection or uprising, shall receive treatment, in regard to restitution, indemnification, compensation or other settlement, no less favorable than that accorded by the latter Contracting Party to its own investors or investors of any third State. (Article 7).


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