    [Public Papers of the Presidents of the United States: William J. Clinton (1993, Book II)]
    [September 7, 1993]
    [Pages 1449-1450]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Message to the Congress Transmitting the Armenia-United States
    Investment Treaty
    September 7, 1993

    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 Armenia Concerning the Reciprocal
    Encouragement and Protection of Investment, signed at Washington on
    September 23, 1992. Also transmitted for the information of the Senate
    is the report of the Department of State with respect to this Treaty.
        The Treaty will establish an agreed-upon legal basis for the
    protection and encouragement of investment. This Treaty thus forms an
    integral part of the framework for expanding trade and investment
    relations between the United States and the countries of the former
    Soviet Union. It is designed to encourage economic opportunity--for
    investment, trade, and growth--in both countries. It will assist Armenia
    in its transition to a market economy by strengthening the role of the
    private sector and by encouraging appropriate macroeconomic and
    structural policies.
        The Treaty is fully consistent with U.S. policy toward international
    and domestic investment. A specific tenet, reflected in this Treaty, is
    that U.S. 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 for expropriation, free transfers of
    funds associated with investments, freedom of investments from
    performance requirements,

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    and the investor's freedom to choose to resolve disputes with the host
    government through international arbitration.
        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.

                                                          William J. Clinton

    The White House,
    September 7, 1993.

    Note: This message was released by the Office of the Press Secretary on
    September 8.