1. Any dispute between the parties over the interpretation or application of the treaty, which is not resolved through consultations or other diplomatic channels, is subject, at the request of one of the parties, to an arbitration tribunal for binding decision, in accordance with the applicable rules of international law. In the absence of a contrary agreement between the parties, the arbitration rules of the United Nations Commission for International Trade Law (CNUDCI) apply, except to the extent that the parties or arbitrators have amended it. 1. Each contracting party allows any transfer linked to an investment to be made freely and without delay on its territory and outside its territory. These transfers include: a) returns; (b) Section IV compensation; (c) payments resulting from an investment dispute; (d) payments under a contract, including amortization on capital and accrued interest payments, made under a loan contract directly related to an investment; (e) the proceeds of the sale or liquidation of an investment, in whole or in part; and (f) additional capital contributions for the maintenance or development of an investment. Considering that acceptance of the treatment to be granted will promote capital flows and economic development of the parties; 9. The provisions most favourable to this article do not apply to the benefits granted by a party to nationals or businesses of a third country under the binding obligations of that party arising from full membership of a customs union or a regional free trade area, whether such an agreement is referred to as a customs union, free trade area , common market or otherwise. This is the first bilateral investment contract with a Latin American country sent to the Senate since the announcement of my “Companies for America” initiative in June 1990. The treaty aims to protect U.S. investment, promote private sector development in Argentina and support ongoing economic reforms.
The impasse and the treaty`s withdrawal of Argentina`s trade-distorting performance requirements set a precedent that takes steps to open markets to U.S. exports. In this regard, and in its approach to dispute resolution, the treaty will serve as a model for our negotiations with other South American countries. 6. Each party provides effective means of asserting rights and enforcing rights relating to investments, investment agreements and investment authorizations. Argentina`s chief of staff, Marcos Pea, told reporters on Thursday that a free trade agreement with the United States was “more of a long-term project” than something imminent. From a foreign trade perspective, the Argentine Republic was the most important country visited by President-elect Hoover during his tour of Latin America.