[Weekly Compilation of Presidential Documents Volume 36, Number 21 (Monday, May 29, 2000)]
[Pages 1200-1201]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Message to the Senate Transmitting the Mozambique-United States 
Bilateral 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 Mozambique Concerning 
the Encouragement and Reciprocal Protection of Investment, with Annex 
and Protocol, signed at Washington on December 1, 1998. 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 Mozambique is the first 
such treaty between the United States and a country in Southern Africa. 
The Treaty will protect U.S. investment and assist Mozambique 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.

[[Page 1201]]

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.