    [Public Papers of the Presidents of the United States: George H. W. Bush (1991, Book I)]
    [March 19, 1991]
    [Page 289]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Message to the Senate Transmitting the Congo-United States Investment
    Treaty
    March 19, 1991

    To the Senate of the United States:
        With a view to receiving the advice and consent of the Senate to
    ratification, I transmit herewith the Treaty Between the United States
    of America and the People's Republic of the Congo Concerning the
    Reciprocal Encouragement and Protection of Investment, signed at
    Washington on February 12, 1990. I transmit also, for the information of
    the Senate, the report of the Department of State with respect to this
    treaty.
        The Bilateral Investment Treaty (BIT) program, initiated in 1981, is
    designed to encourage and protect U.S. investment. The treaty is an
    integral part of U.S. efforts to encourage the Congo and other
    governments to adopt macroeconomic and structural policies that will
    promote economic growth. It is also fully consistent with U.S. policy
    toward international investment. That policy holds that an open
    international investment system in which participants respond to market
    forces provides the best and most efficient mechanism to promote global
    economic development. A specific tenet, reflected in this treaty, is
    that U.S. direct investment abroad and foreign investment in the United
    States should receive fair, equitable, and nondiscriminatory treatment.
    Under this treaty, the Parties also agree to international law standards
    for expropriation and compensation; to free financial transfers; and to
    procedures, including international arbitration, for the settlement of
    investment disputes.
        I recommend that the Senate consider this treaty as soon as possible
    and give its advice and consent to ratification of the treaty at an
    early date.

                                                                 George Bush

    The White House,
    March 19, 1991.