ALCA FTAA ZLEA - Investment: Standards - Canada/Uruguay

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Investment Agreements in the Western Hemisphere: A Compendium

Agreement Between Canada and Uruguay
16 May 1991

Subject: III. Treatment

A. Standards

1. Fair & Equitable Treatment
Yes. Investments or returns of investors of either Contracting Party shall at all times be accorded fair and equitable treatment in accordance with principles of international law. (Article II (4)).

2. Full Protection and Security
Yes. Investments or returns of investors of either Contracting Party shall enjoy full protection and security in the territory of the other Contracting Party. (Article II (4)).

3. Non-Discrimination

4. National Treatment
Yes. Each Contracting Party shall, to the extent possible and in accordance with its laws and regulations, grant to investments or returns of investors of the other Contracting Party treatment no less favorable than that which it grants to investments or returns of its own investors. (Article IV).

5. Most-Favored-Nation Treatment
Yes. Each Contracting Party shall grant to investments or returns of investors of the other Contracting Party in its own territory, treatment no less favorable than that which it grants to investments or returns of investors of any third State. (Article III (1)). Each Contracting Party shall grant investors of the other Contracting Party, as regards their management, use, enjoyment or disposal of their investments or returns in its territory, treatment no less favorable than that it grants to investors of any third State. (Article III (2)).

B. Exceptions
The provisions of this Agreement shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party the benefits of any treatment, preference or privilege resulting from any existing or future bilateral or multilateral agreement: a) establishing a free trade area or customs union; b) liberalizing trade in services; c) for mutual economic assistance, integration or cooperation; d) relating to taxation. (Article V).

C. Other Aspects

1. Performance Requirements

2. Others
When a matter is covered both by the provisions of this Agreement and any other international agreement to which both Contracting Parties are bound, nothing in this Agreement shall prevent an investor of one Contracting Party that has investments in the territory of the other Contracting Party from benefitting from the most favorable regime. (Article XIII (1)). Investors of one Contracting Party who suffer losses because their investments or returns on the territory of the other Contracting Party are affected by an armed conflict, a national emergency or civil strife or a natural disaster on that territory, shall be accorded by such latter Contracting Party, in respect of restitution, indemnification, compensation or other settlement, treatment no less favorable than that which it accords to its own investors or to investors of any third State. (Article VII).


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