    [Public Papers of the Presidents of the United States: WILLIAM J. CLINTON (2000, Book I)]
    [May 23, 2000]
    [Page 1009]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Message to the Senate Transmitting the Bahrain-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 State of Bahrain
    Concerning the Encouragement and Reciprocal Protection of Investment,
    with Annex, signed at Washington on September 29, 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 Bahrain is the third such
    treaty between the United States and a Middle Eastern country. The
    Treaty will protect U.S. investment and assist Bahrain 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.