    [Public Papers of the Presidents of the United States: George W. Bush (2008, Book II)]
    [November 20, 2008]
    [Pages 1380-1381]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Message to the Senate Transmitting the Rwanda-United States Treaty
    Concerning the Encouragement and Reciprocal Protection of Investment
    November 20, 2008

    To the Senate of the United States:
        I transmit herewith, with a view to receiving the advice and consent
    of the Senate to ratification, the Treaty between the Government of the
    United States of America and the Government of the Republic of Rwanda
    Concerning the Encouragement and Reciprocal Protection of Investment,
    signed at Kigali on February 19, 2008. I transmit also, for the
    information of the

    [[Page 1381]]

    Senate, the report prepared by the Department of State with respect to
    the Treaty.
        This is the first bilateral investment treaty (BIT) concluded
    between the United States and a sub-Saharan African country since 1998.
    The Treaty will help to promote cross-border investment by providing
    legal protections for investors of each country for their investments in
    the other country. The Treaty underscores the shared commitment of both
    countries to open investment and trade policies.
        Rwanda has opened its economy, improved its business climate, and
    embraced trade and investment as a means to boost economic development
    and help alleviate poverty. The U.S.-Rwanda BIT will reinforce these
    efforts.
        The Treaty is fully consistent with U.S. policy to secure
    protections for U.S. investment abroad and to welcome foreign investment
    in the United States. Under this Treaty, the Parties agree to accord
    national treatment and most-favored-nation treatment to investments.
    They also agree to customary international law standards for
    expropriation and for the minimum standard of treatment. The Treaty
    includes detailed provisions regarding the payment of prompt, adequate,
    and effective compensation in the event of expropriation; free transfer
    of funds related to investment; freedom of investment from specified
    performance requirements; prohibitions on nationality based restrictions
    for the hiring of senior managers; and the opportunity for investors to
    resolve disputes with a host government through international
    arbitration. The Treaty also includes extensive transparency obligations
    with respect to national laws and regulations and commitments to
    transparency in dispute settlement. The Parties also recognize that it
    is inappropriate to encourage investment by weakening or reducing the
    protections afforded in domestic environmental and labor laws.
        I recommend that the Senate give early and favorable consideration
    to the Treaty and give its advice and consent to ratification.

                                                              George W. Bush

     The White House,

     November 20, 2008.