その他令和8年7月3日
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3. A determination that there has been a breach of another provision of this
Agreement, or of a separate international agreement, does not establish that there has been
a breach of this Article.
Article 6
Access to the Courts of Justice
Each Contracting Party shall in its Area accord to investors of the other
Contracting Party treatment no less favourable than the treatment it accords in like
circumstances to its own investors or to investors of a non-Contracting Party with respect
to access to the courts of justice and administrative tribunals and agencies in all degrees
of jurisdiction, both in pursuit and in defence of such investors' rights.
Article 7
Rights and Obligations
under the Agreement on Trade-Related Investment Measures
1. The Contracting Parties reaffirm their rights and obligations under the Agreement
on Trade-Related Investment Measures in Annex 1A to the WTO Agreement
2. Any dispute concerning the application of this Article shall not be covered by the
provisions of paragraphs 2 through 8 of Article 22 as well as Article 23.
Article 8
Transparency
1. Each Contracting Party shall promptly publish, or otherwise make publicly
available, its laws, regulations, administrative procedures, administrative rulings and
judicial decisions of general application as well as international agreements which pertain
to or affect the implementation and operation of this Agreement.
2. Each Contracting Party shall, upon request by the other Contracting Party,
promptly respond to specific questions and provide that other Contracting Party with
information on matters set out in paragraph 1.
3. Paragraphs1 and2 shall not be construed to oblige either Contracting Party to
disclose confidential information, the disclosure of which would impede law enforcement
or otherwise be contrary to the public interest, or which would prejudice privacy or
legitimate commercial interests.
Article 9
Measures against Corruption
the the the the the the the the the the the the the the and the and the and the ing the the the the
Each Contracting Party shall ensure that measures and efforts are undertaken to
prevent and combat corruption regarding matters covered by this Agreement in
accordance with its laws and regulations.
Article 10
Entry, Sojourn and Residence of Investors
Each Contracting Party shall, in accordance with its laws and regulations, give
sympathetic consideration to applications for entry, sojourn and residence of a natural
person having the nationality of the other Contracting Party and personnel employed by.
and an executive, a manager and a member of the board of directors of, an enterprise of
the other Contracting Party, who wish to enter the territory of the former Contracting
Party and remain therein for the purpose of investment activities.
Article 11
Expropriation and Compensation
1.Neither Contracting Party shall expropriate or nationalise an investment in its
Area of an investor of the other Contracting Party either directly or indirectly through
measures equivalent to expropriation or nationalisation (hereinafter referred to as
"expropriation ) except:
(a) for a public purpose;
(b) in a non-discriminatory manner;
(c) upon payment of prompt, adequate and effective compensation is
accordance with paragraphs 3 through 6; and
(d) in accordance with its laws and regulations and international standard of
due process of law.
2. (a) The Contracting Parties confirm their shared understanding that paragraph
1 addresses the following two situations:
(i) the first situation0.0direct expropriation, where an investment in0.0
nationalised or otherwise directly expropriated through formal
transfer of title or outright seizure; and
(ii) the second situation is indirect expropriation, where an action or a
series of actions by a Contracting Party has an effect equivalent to
direct expropriation without formal transfer of title or outright
seizure. The determination of whether an action or a series of
actions by a Contracting Party, in a specific situation, constitutes
an indirect expropriation requires a case-by-case, fact-based
inquiry that considers, among other factors:
(A) the economic impact of the government action, although
the fact that an action or a series of actions by a Contracting
Party has an adverse effect on the economic value of an
investment, standing alone, does not establish that an
indirect expropriation has occurred;
(B) the extent to which the government action interferes with
distinct, reasonable investment-backed expectation; and
Note: For greater certainty, whether an investor's
investment-backed expectations are reasonable
depends, to the extent relevant, on factors such as
whether the government provided the investor
with binding written assurances and the nature
and extent of government regulation or the
potential for government regulation in the
relevant sector.
(C) the character of the government action.
(b) Non-discriminatory regulatory actions by a Contracting Party that are
designed and applied to protect legitimate public welfare objectives, such
as public health, safety and the environment, do not constitute indirect
expropriations, except in rare circumstances.
Note: For greater certainty and without limiting the scope of this
subparagraph, regulatory actions to protect public health include
among others, such measures with respect to the regulation.
pricing and supply of, and reimbursement for, pharmaceuticals
(including biological products), diagnostics, vaccines, medical
devices, gene therapies and technologies, health-related aids and
appliances and blood and blood-related products.
3. The compensation shall be equivalent to the fair market value of the expropriated
investments at the time when the expropriation was publicly announced or when the
expropriation occurred, whichever is earlier. The fair market value shall not reflect any
change in value occurring because the expropriation had become publicly known earlier
4. The compensation shall be paid without undue delay, shall include interest at a
commercially reasonable rate, accrued from the date of expropriation until the date of
payment, and shall be effectively realisable and freely transferable.
5. If payment is made in a freely usable currency, the compensation paid shall
include interest at a commercially reasonable rate for that currency, accrued from the date
of expropriation until the date of payment.
6. If a Contracting Party elects to pay in a currency other than a freely usable
currency, the compensation paid shall be no less than the sum of the following, converted
into the currency of payment at the market rate of exchange prevailing on the date of
payment:
(a) the fair market value on the date of expropriation, converted into a freely
usable currency at the market rate of exchange prevailing on that date; and
(b) interest at a commercially reasonable rate for that freely usable currency,
accrued from the date of expropriation until the date of payment.
7. This Article does not apply to the issuance of compulsory licences granted in
relation to intellectual property rights in accordance with the TRIPS Agreement, or to the
revocation, limitation or creation of intellectual property rights, to the extent that such
issuance, revocation, limitation or creation is consistent with the TRIPS Agreement
Article 12
Protection from Strife
1. Each Contracting Party shall accord to investors of the other Contracting Party
that have suffered loss or damage relating to their investments in the Area of the former
Contracting Party due to armed conflict or a state of emergency such as revolution,
insurrection, civil disturbance or any other similar event in the Area of that former
Contracting Party, treatment, as regards restitution, indemnification, compensation or any
other settlement, that is no less favourable than the treatment it accords to its own
investors or to investors of a non-Contracting Party, whichever is more favourable to the
investors of the other Contracting Party.
2. Any payment as a means of settlement referred to in paragraph 1 shall be
effectively realisable, freely transferable and freely convertible at the market exchange
rate into freely usable currencies.
3. Neither Contracting Party shall derogate from its obligation under paragraph 1 by
reason of its measures taken pursuant to paragraph 2 of Article 15.
Article 13
Subrogation
1. If a Contracting Party or its designated agency makes a payment to any investor
of that Contracting Party under an indemnity, guarantee or insurance contract, pertaining
to an investment of such investor in the Area of the other Contracting Party, the latter
Contracting Party shall recognise the assignment to the former Contracting Party or its
designated agency of any right or claim of such investor on account of which such
payment is made and shall recognise the right of the former Contracting Party or its
designated agency to exercise by virtue of subrogation any such right or claim to the same
extent as the original right or claim of the investor. As regards payment to be made to
that former Contracting Party or its designated agency by virtue of such assignment of
right or claim and the transfer of such payment, the provisions of Articles 11,12 and 14
shall apply mutatis mutandis.
2. This Article does not recognise the right of claim under Article 23 of a Contracting
Party or its designated agency solely based on the fact that either has made a payment
based on an indemnity, guarantee or insurance contract against commercial risk.
Article 14
Iransters
1. Each Contracting Party shall ensure that all transfers relating to investments in its
Area of an investor of the other Contracting Party may be freely made into and out of its
Area without undue delay. Such transfers shall include, in particular, though not
exclusively:
(a) the initial capital and additional amounts to maintain or increase
investments:
(b) profits, interest, capital gains, dividends, royalties, fees or other current
incomes accruing from investments;
(c) payments made under a contract including loan payments in connectior
with investments;
(d) proceeds of the total or partial sale or liquidation of investments;
(e) earnings and remuneration of personnel from abroad who work in
connection with investments in the Area of the former Contracting Party;
(f) payments made in accordance with Articles 11 and 12; and
(g) payments arising out of a dispute.
2. Each Contracting Party shall further ensure that such transfers may be made
without undue delay in freely usable currencies at the market exchange rate prevailing on
the date of the transfer.
3. Notwithstanding paragraphs 1 and 2, a Contracting Party may delay or prevent a
transfer through the equitable, non-discriminatory and good-faith application of its laws
and regulations relating to:
(a) bankruptcy, insolvency or the protection of the rights of creditors;
(b) issuing, trading or dealing in securities;
(c) offenal offences;
(d) reporting or record keeping of transfers of currency or other monetary
instruments when necessary to assist law enforcement or financial
regulatory authorities; or
(e) ensuring compliance with orders or judgements in adjudicatory
proceedings.
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