[Public Papers of the Presidents of the United States: George H. W. Bush (1991, Book I)]
[May 17, 1991]
[Pages 523-524]
[From the U.S. Government Publishing Office www.gpo.gov]



Message to the Senate Transmitting the Tunisia-United States Treaty 
Concerning the Reciprocal Encouragement and Protection of Investment
May 17, 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 Republic of Tunisia Concerning the Reciprocal 
Encouragement and Protection of Investment, with Protocol, signed at 
Washington on May 15, 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

[[Page 524]]

treaty is an integral part of U.S. efforts to encourage Tunisia 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, with 
protocol, at an early date.

                                                             George Bush

The White House,
May 17, 1991.