[Weekly Compilation of Presidential Documents Volume 29, Number 36 (Monday, September 13, 1993)]
[Page 1723]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Message to the Senate Transmitting the Ecuador-United States Investment 
Treaty

 September 10, 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 Ecuador Concerning the Encouragement and 
Reciprocal Protection of Investment, with Protocol and related exchange 
of letters, signed at Washington on August 27, 1993. Also transmitted 
for the information of the Senate is the report of the Department of 
State with respect to this Treaty.
    This is the first bilateral investment treaty with an Andean Pact 
country, and the second such Treaty signed with a South American 
country. The Treaty is designed to protect U.S. investment and encourage 
private sector development in Ecuador, and support the economic reforms 
taking place there. The Treaty's approach to dispute settlement will 
serve as a model for negotiations with other Andean Pact countries.
    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, 
with Protocol and related exchange of letters, at an early date.
                                            William J. Clinton
The White House,
September 10, 1993.