[Weekly Compilation of Presidential Documents Volume 29, Number 36 (Monday, September 13, 1993)]
[Pages 1705-1706]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Message to the Congress Transmitting the Armenia-    United States 
Investment Treaty

 September 7, 1993

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 United States 
of America and the Republic of Armenia Concerning the Reciprocal 
Encouragement and Protection of Investment, signed at Washington on 
September 23, 1992. Also transmitted for the information of the Senate

[[Page 1706]]

is the report of the Department of State with respect to this Treaty.
    The Treaty will establish an agreed-upon legal basis for the 
protection and encouragement of investment. This Treaty thus forms an 
integral part of the framework for expanding trade and investment 
relations between the United States and the countries of the former 
Soviet Union. It is designed to encourage economic opportunity--for 
investment, trade, and growth--in both countries. It will assist Armenia 
in its transition to a market economy by strengthening the role of the 
private sector and by encouraging appropriate macroeconomic and 
structural policies.
    The Treaty is fully consistent with U.S. policy toward international 
and domestic investment. A specific tenet, reflected in this Treaty, is 
that U.S. investment abroad and foreign investment in the United States 
should receive fair, equitable, and nondiscriminatory treatment. Under 
this Treaty, the Parties also agree to international law standards for 
expropriation and compensation for expropriation, free transfers of 
funds associated with investments, freedom of investments from 
performance requirements, 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,
September 7, 1993.

Note: This message was released by the Office of the Press Secretary on 
September 8.