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

    Message to the Senate Transmitting the Croatia-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
    Croatia Concerning the Encouragement and Reciprocal Protection of
    Investment, with Annex and Protocol, signed at Zagreb on July 13, 1996.
    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 Croatia was the fourth
    such treaty between the United States and a Southeastern European
    country. The Treaty will protect U.S. investment and assist Croatia in
    its efforts to develop its economy by creating conditions more favorable
    for U.S. private investment and thus strengthen 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.