    [Public Papers of the Presidents of the United States: WILLIAM J. CLINTON (2000, Book I)]
    [June 26, 2000]
    [Pages 1274-1275]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Message to the Senate Transmitting the Nicaragua-United States
    Investment Treaty With Documentation
    June 26, 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
    Nicaragua Concerning the Encouragement and Reciprocal Protection of
    Investment, with Annex and Protocol, signed at Denver on July 1, 1995. 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 Nicaragua is the fifth
    such treaty signed between the United States and a country of Central or
    South America. The Treaty will protect U.S. investment and assist
    Nicaragua 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

    [[Page 1275]]

    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,
    with Annex and Protocol, at an early date.

                                                          William J. Clinton

    The White House,

    June 26, 2000.