    [Public Papers of the Presidents of the United States: WILLIAM J. CLINTON (2000, Book I)]
    [May 23, 2000]
    [Pages 1010-1011]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Message to the Senate Transmitting the El Salvador-United States
    Investment Treaty With Documentation
    May 23, 2000

    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 Government of
    the United States of America and the Government of the Republic of El
    Salvador Concerning

    [[Page 1011]]

    the Encouragement and Reciprocal Protection of Investment, with Annex
    and Protocol, signed at San Salvador on March 10, 1999. 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) with El Salvador is the
    seventh such treaty with a Central or South American country. The Treaty
    will protect U.S. investment and assist El Salvador in its efforts to
    develop its economy by creating conditions more favorable for U.S.
    private investment and thereby strengthening the development of its
    private sector.
        The Treaty is fully consistent with U.S. policy toward international
    and domestic investment. A specific tenet of U.S. policy, reflected in
    this Treaty, is that U.S. investment abroad and foreign investment in
    the United States should receive national treatment. Under this Treaty,
    the Parties also agree to customary international law standards for
    expropriation. The Treaty includes detailed provisions regarding the
    computation and payment of prompt, adequate, and effective compensation
    for expropriation; free transfer of funds related to investments;
    freedom of investments from specified performance requirements; fair,
    equitable, and most-favored-nation treatment; 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,

    May 23, 2000.