[Congressional Record Volume 154, Number 177 (Thursday, November 20, 2008)]
[Senate]
[Pages S10775-S10776]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




      REMOVAL OF INJUNCTION OF SECRECY--TREATY DOCUMENT NO. 110-23

  Mr. DORGAN. Mr. President, as in executive session, I ask unanimous 
consent that the injunction of secrecy be removed from the following 
treaty transmitted to the Senate on November 20, 2008, by the President 
of the United States: Investment Treaty with Rwanda, Treaty Document 
No. 110-23. I further ask unanimous consent that the treaty be 
considered as having been read the first time; that it be referred, 
with accompanying papers, to the Committee on Foreign Relations and 
ordered to be printed; and that the President's message be printed in 
the Record.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The message of the President is as follows:

To the Senate of the United States:
  I transmit herewith, with a view to receiving the advice and consent 
of the Senate to ratification, the Treaty between the Government of the 
United States of America and the Government of the Republic of Rwanda 
Concerning the Encouragement and Reciprocal Protection of Investment, 
signed at Kigali on February 19, 2008. I transmit also, for the 
information of the Senate, the report prepared by the Department of 
State with respect to the Treaty.
  This is the first bilateral investment treaty (BIT) concluded between 
the United States and a sub-Saharan African country since 1998. The 
Treaty will help to promote cross-border investment by providing legal 
protections for investors of each country for their investments in the 
other country. The Treaty underscores the shared commitment of both 
countries to open investment and trade policies.
  Rwanda has opened its economy, improved its business climate, and 
embraced trade and investment as a means to boost economic development 
and help alleviate poverty. The U.S.-Rwanda BIT will reinforce these 
efforts.
  The Treaty is fully consistent with U.S. policy to secure protections 
for U.S. investment abroad and to welcome foreign investment in the 
United States. Under this Treaty, the Parties agree to accord national 
treatment and most-favored nation treatment to investments. They also 
agree to customary international law standards for expropriation and 
for the minimum standard of treatment. The Treaty includes detailed 
provisions regarding the payment of prompt, adequate, and effective 
compensation in the event of expropriation; free transfer of funds 
related to investment; freedom of investment from specified performance 
requirements; prohibitions on nationality based restrictions for the 
hiring of senior managers; and the opportunity for investors to resolve 
disputes with a host government through international arbitration. The 
Treaty also

[[Page S10776]]

includes extensive transparency obligations with respect to national 
laws and regulations and commitments to transparency in dispute 
settlement. The Parties also recognize that it is inappropriate to 
encourage investment by weakening or reducing the protections afforded 
in domestic environmental and labor laws.
  I recommend that the Senate give early and favorable consideration to 
the Treaty and give its advice and consent to ratification.
                                                      George W. Bush.  
The White House, November 20, 2008.

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