[Weekly Compilation of Presidential Documents Volume 36, Number 26 (Monday, July 3, 2000)]
[Page 1507]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
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 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.