PERS~TU.TUAN
AN'fARA PEMERINTAH REPUBLIK INDONESIA DAN PEMERINTAH REPUHLIK TURKI MENGEN AI PENINGKATAN DAN PElJNDUNGAN ATAS PENANAMAN MODAL
Pemerintah Repub1ik Indonesia dan Pemerintah Republik Turki selanjutnya disebut sebagai ''Para Pihak 1 ':
Mengingat hubungan yang bersahabat dan kerjasama yang ada di antara kedua negara dan rakyatnya; Berkeinginan untuk meningkatkan kcrjasama ekonomi antara para Pihak yang lebih luas, khususnya di bidang penanaman modal oleh penanam modal dari satu Pihak di wilayah Pihak lain; Bermak~ud
menciptakan kondisi yang menguntungkan bagi penanaman modal oleh penanam modal thri ~atu Pihak di wilay(l_h Pihak lain yang did~sarka1.t atas ke·faulJtan yang sama c~:u Sc-Jing ':llrnguntungkan; Menyadad bahwa persetujLan unbk mf:mberikan perlak111n keiJada penanaman modal akac rn~ndcruug am~ t'1odaJ daa teknolJgi s ·~rta pembangunan ekonomi cli kedu:i Pin(l_k;
J
PASAL I Definisi U ntuk tujuan persetujuan ini :
1.
2.
11
Istilah penanaman modal", sesuai dengan peraturan perundangundangan yang berlaku di negara penerima modal, hams berarti setiap bentuk aset yang ditanamkan oleh penanam modal dari satu Pihak di wilayah Pihak lain, mencakup tetapi tidak terbatas pada: (a)
benda bergerak dan tidak bergerak, dan hak-hak lainnya seperti hipotik, hak gadai, jaminan dan hak-hak sejenis lainnya~
(b)
saham, stok atau setiap bemuk penyertaan lainnya pada perusahaan,
(c)
penghasilan yang ditanamkan kembali, tagihan atas uang atau setiap hak lainnya yang mempunya1 nilai keuangan yang berkaitan dengan suatu penanaman modal,
(d)
hak cipta, hak ams kekayaan intelektual dan industri seperti paten, lisensi, rancang industri~ proses teknik~ serta merek dagang, jasa baik, pengetahuan dan hak-hak sejenis lainnya,
(e)
konsesi usaha yang diberikan oleh undang-undang atau berdasarkan kontrak termasuk konsesi untuk mencan, membudidayakan, mengolah atau mengeksploitasi sumbersumber daya alam,
Istilah "penanam modal" berarti: (a)
orang yang mempunyai status s~bagai warg« negara dari salah satu Pihak sesuai dengan perundang-undangan yang berlaku;
(b)
korpcrasi, perusahaan atau asosiasi usaha yang didirikan a tau dibentuk berdasark~n pr::rundang-m1daagan yang berlaku di salah ~atu Pihak c!:.m mempuny:li kantor pusat dan aktivitas ekonomi di wtlayah Pihak dimaksud.
2
3.
Istilah "penghasilan berarti nilai yang diperoleh dari penanaman modal yang khususnya termasnk namun tidak terbatas pada keuntungan~ bunga dan dividen,
4.
lstilah "wilayah" berarti:
fj
(a)
Dalam hubungan dengan Rrpuhlik Indonesia: Wilayah Republik Indonesia, dan wilayah-wilayah yang berdekatan di mana Republik Indonesia memiliki kedaulatan, hak berdaulat atau y1nisdiksi sesuai dengan hukum internasional;
(b)
Dalam hubungan dengan Republik Turki: Wilayah Turki, wilayah laut, dan kawasan maritim di mana Turki memiliki yurisdiksi atau hak berdaulat untuk kepentingan mengolah, mengeksploitasi, melindungi dan mengelola sumber daya alam, berdasarkan hukum internasional .
PASAL II Peningkatan dan Perlindungan atas Penanaman Modal 1.
Masing-masing Pihak hams mendorong dan menciptakan iklim yang menguntungkan bagi penanaman modal dari Pihak lain untuk menanamkan modal di wilayahnya, dan hams mengijinkan penanamam modal di wilayahnya dan kegiatan yang berkaitan dengan hal tersebut, ~ecara tidak kurang menguntungkan daripada yang diberikan dalam keadaan yang sama kepada penanaman modal dari penanam modal dari negara ketiga, sesuai dengan peraturan pemndang-undangannya.
2.
Masing-masing pihak harns, sesuai dcngan peraturan perundangundangannya, memberikan kepaJc.. penanaman madal tersebut, sejak didirikan, ptrl~kum-;. yang tidak kurang menguntungkan daripada yang diberikan dalam keadaan yang sama pada penanaman modal dari pena:naman modal da!am negeri atau pemma:nam momu dari penanam modal negara ketiga, yang mana saja yang paling menguntungkan.
3
'
3.
4.
Berdasarkan pada peraturan dan perun
penanam modal dari satu Pihak hams diijinkan untuk memasuki dan tinggal di wilayah Pihak lainnya untuk tujuan mendirikan, mengembangkan, menata-usahakan atau memberikan saran mengenai pelaksanaan penanaman modal di mana mereka, atau penanam modal dari Pihak pertama yang mempekerjakan mereka, telah berjanji atau dalam proses kesepakatan memperjanjikan sejumlah modal atau sumber-sumber lainnya ~
(b)
perusahaan-perusahaan yang secara hukum dibentuk berdasarkan peraturan perundang-undangan yang berlaku dari satu Pihak, dan di mana penanaman modal dari penanam modal Pihak lain. hams diijinkan untuk melakukan pilihan atas pengelolaan dan tenaga teknis, tanpa mempertimbangkan kewarganegaraan.
Ketentuan-ketentuan pasal ini hams tidak mempunyai dampak dalam kaitan perjanjian berikut yang berlaku untuk salah satu Pihak: (a)
yang berkaitan dengan setiap perjanjian yang ada atau yang akan datang di bidang kesatuan kepabeanan, organisasi ekonomi regional atau perjanjian internasional sejenis,
(b)
yang herkaitan seluruh::Jya atau sebagian dengan perpajakan.
PASAL III Penghmbil-alihan Para Pihak harus tidak melakukan tindakan pengambil-alihan, nasionalisasi atau langkah-lacgkah yang secara langsu.nf a.tau tidak iangsung mempunyai akibat sama terhadap penanaman mada1 ciari pcnanam modal Pihak lain, kecuali; (a) (b) (c) ·
untuk kepentmgan t~murn, dengan cam yang bersifat tidak diskrjminasi, disertai dengan pembaydt:Ut segern, efektif dan kompensasi yang memadai, dan 4
(d)
sesuai dengan proses hukum dan prinsip umum perlakuan yang sebagaimana diatur dalam Pasal II Persetujuan ini.
PA.SAL JV Ganti Rugi atas Peugambil-alihan dan Kerugian 1.
Ganti rugi atas pengambil-alihan harus dinilai berdasarkan harga pasar dari penanaman modal yang diambil-alih sebelum tindakan pengambilalihan dilakukan atau telah diketahui umum. Ganti rugi tersebut harus dibayar segera dan dapat ditransfer secara bebas sebagaimana diatur dalam paragraf 1 Pasal V .
2.
Penaman modal dari satu Pihak, yang penanaman modalnya di wilayah Pihak lainnya mengalami kerugian karena perang atau konflik senjata.) revolusi, negara dalam keadaan darurat, pemberontakan, kerusuhan atau huru hara di wilayah yang disebut terakhir harus diberikan oleh Pihak tersebut terakhir perlakuan yang tidak kurang menguntungkan daripada perlakuan yang diberikan kepada penanam modal dalam negeri atau penanam modal dan negara ketiga, yang mana perlakuan yang paling menguntungkan, berkaitan dengan setiap langkah yang diterima dalam kaitan dengan kerugian-kerugian dimaksud. j
PASAL V Transfer 1.
Ma.~ing-masing
Pihak h.arus me:r.gijinkan, berdasarkan peraturan pemndang-undangan yang ~erkaitan dengan penanaman modal oleh penanam modal dari Pihak lain, seluruh transfer yang berkaitan dengar.. permnaman modal dilakukan secara bebas dan tanpa penundaan yang tidak beralasan masuk dan keluar dari wilayahnya. Transfer dimaksud termasuk namun tidak terbatas pada: (a) (b) (c) ( d)
pcngha~Jan,
hasi! pcnjuaia~ arnc_Hkuidas~ d~ui seluruh atau sebagian dari penanaman modal, g.1nti Lugi sesua.i ~-engan Pas2.l IV, p~mbayaran yang dilak--ukan berdasarkan perjanjian pinjaman 5
(e)
( f)
2.
yang berkaitan dengan penanaman modal, upah, gaji dan remtmerasi lainnya yang diterima oleh warga negara ·salah satu Pihak yang diperoleh di wilayah lainnya berkaitan dengan IJm kerja yang berhubungan dengan penanaman modal, pembayaran yang timbul dari sengketa penanaman modal.
Transfer tersebut harus dilakukan dengan mata uang yang dapat dipertukarkan secara bebas pada nilai tukar yang berlaku pada saat transfer.
PASAL VI Subrogasi 1.
Apabila penanaman modal dari penanam modal dari satu Pihak diasuransikan atas risiko non-komersial sesuai sistem hukum yang berlaku, setiap subrogasi dari penanggung yang timbul dari perjanjian asuransi harus diketahui oleh Pihak laim1ya.
2.
Penanggung tidak berhak untuk melaksanakan hak selain daripada hak yang telah diberikan kepada penanam modal.
3.
Perselisihan antara satu Pihak dan penanggung harus diselesaikan sesuai dengan ketentuan Pasal VIII Persetujuan ini.
PASAL VII Derogasi Persetujuan ini harus tirlak dlktcualikan dari .
(a)
peraturan perundang-uridangan, praktek atau prosedur administrasi atau adminfatrasi atau keputusan peradilan dari. sa!_a}l ~atu Pihak,
(b)
kewajiban bukurn 1.nternasional, atau
(c)
kewajiban yang diterima oleh salah satu Pihak, termasuk kewajiban termaktub dalam perjanjian penanaman modal atau pemberian wewenang penanaman modal,
yang menjadi hak penanaman modal atau kegiatan yang berkaitan dengan perlakuan yang lebih menguntungkan daripada yang diberikan oleh Persetujuan ini dalam keadaan yang sama.
PASAL VIII Penyelesaian Perselisihan antara Sato Pihak dan Penanam Modal Pihak Lainnya 1.
Perselisihan antara satu Pihak dan penanam modal dari Pihak lain~ dalam kaitan penanaman modal yang bersangkutan, harus diberitahukan secara tertulis, termasuk keterangan rinci, oleh penanam modal kepada Pihak penerima penanaman modal. Sedapat mungkin, penanam modal dan Pihak yang bersangkutan ha.ms mengupayakan penyelesaikan perselisihan ini melalui konsultasi dan perundingan secara bersahabat.
2.
Apabila perselisihan tersebut tidak dapat diselesaikan dengan cara ini dalam waktu 6 (enam) bulan setelah tanggal pemberitahuan tertulis, perselisihan dapat diajukan oleh investor dengan pilihan: a.
kepada peradildn setempat yang berwenang di mana penanaman modal dilakukan; arnu
b.
kepada arbitrasi · i)
Pusat Penyelesaian Perselisihan Penanaman Modal Internas10nal (lnteraational Center for Settlement of Investment Disputes/ICSID) yang dibentuk oleh Konvensi mengenai Penyelesaian Perselisihan antara Negara dan Penanam Modal dari Negara Lain (Convention en Settlement of Investment Disputes between States and Nationals of other States'' yang terbuka untuk ditandatangani di Washington, D.C. pada 18 Maret 196:5; 8.tau
7
ii)
peradilan arbitrasi sementara yang dibentuk berdasarkan peraturan prosedur arbitrasi dari Komisi Perserikatan Bangsa Bangsa untuk Hukum Perdagangan Internasional (United Nations Commission for International Trade Law/UNCITRAL).
Dalam hal penanam modal yang hersangkutan telah mengajukan perselisihan kepada peradilan nasional dari Pihak yang berselisih dan keputusan akhir belum diputuskan dalam jangka waktu satu tahun, perselisihan dimaksud dapat diajukan kepada arbitrasi internasional seperti yang disebut pada (b .i) atau (b .ii) dari pasal ini. 3.
Keputu.san arbitrasi hams mempakan keputusan akhir dan mengikat bagi para Pihak yang berselisih. Masing-masing Pihak menyatakan untuk melaksanakan keputusan sesuai dengan hukum nasionalnya .
PASAL IX Penyelesaian Perselisihan Antara Para Pihak 1.
Perselisihan antara para Pihak mengenai penafsiran a tau penerapan persetujuan ini, hams, jika mungkin, diselesaikan melalui saluran diplomatik.
2.
Apabila perselisihan antara para Pihak tidak dapat diselesaikan dalam jangka waktu enam bulan sejak tanggal dimulainya pemndingan, perselisihan atas vermintaan salah satu Pihak diajukan kepada peradilan arbitrasi, yang disetujui oleh para Pihak.
3.
Peradilan arbitr as~ terse but harus dibentuk secara kasus demi kasus dengan cara berikut. Dalam waktu riga bulan dari penerimaan permintaan untuk arbitrasi, setiap Pihak harus menunjuk seorang anggota peradilan. Keduc. anggota kemudian barns memilih seorang warga negara ketiga. yang atas persetujuan kedua Pihak, ditunjuk dalam jangka waktu dua bulan dari tanggal penunjukan kedua anggota tersebut.
4.
Apabila dalam jangka waktu sebagaimana disebutkan pada paragraf 3 Pasal ini, satu Pihak gagal menunjuk arbitrator atau Ketua tidak dapat dipilih, salah satu Pih~k da?at meminta Ketua Mahkamah Internasional unmk me~akukau penunjukkan yang dipcr~ukan. Apabila 8
I
I
Ketua Mahkamah Internasional adalah warga negara salah satu Pihak atau apabila ia tidak dapat menjalankan fungsinya. Wakil Ketua harus diminta untuk melakllkan penunjukkan yang diperlukan. Apabila W akil Ketua adalah warga negara salah satu Pihak a tau apabila ia tidak dapat menjalankan fungsinya, maka sesuai peringkat senioritas anggota Mahkamah Internasional yang bukan warga negara salah satu Pihak hams melakukan penunjukkan tersebut.
I; 11
11
5.
Peradilan arbitrasi hams mengambil keputusan berdasarkan ketentuanketentuan persetujuan ini dan pcraturan serta prinsip hukum internasional, dan hams mengambil keputusan berdasarkan suara terbanyak. Keputusan tersebut harus mempakan keputusan akhir dan mengikat bagi kedua Pihak.
6.
Peradilan arbitrasi hams menetapkan peraturan prosedurnya sendiri.
7.
Masing-masing pihak hams menanggung biaya anggota peradilannya sendiri dan wakil-wakilnya dalam proses peradilan; biaya Ketua dan pengeluaran lainnya harus ditanggung dibagi sama besar di antara para Pihak.
8.
Perselisihan harus tidak diajukan kepada peradilan arbitrasi internasional berdasarkan ketentuan-ketentuan pasal ini, apabila perselisihan yang sama telah diajukan sebelumnya kepada peradilan arbitrasi internasional lainnya berdasarkan ketentuan pasal VIII dan masih dalam peradilan. Hal ini tidak menghambat para Pihak untuk mengadakan perundingan secara !angsung antara kedua Pihak.
PASAL X Pemberlakuan Persetujuan 1.
Persetujuan ini berlaku terhadap penanaman modal oleh penanam modai dari Rep'-lblik Turki di \v1lay~h Republik Indonesia yang telah mendapat jjin sebelumnya sesuai dengan Undang-undang No. 1 tahun 1967 mengenai Pemmaman Modal A~ing dan setiap undang-undang yang mengubah atau menggantikannya, dan terhadap penanaman modal oleh penanam modal dari Republik Indonesia di wilayah Republik Turki.
9
2.
Persetujuan ini berlaku terhadap seluruh penanaman modal, baik yang dilakukan sebelum a.tau setelah tanggal berlakunya Persetujuan ini, namun ketentuan-ketentuan dalam Persetujuan ini tidak akan berlaku terhadap setiap perselisihan, tuntutan atau perbedaan yang timbul sebelum masa berlaku Persetujuan illi.
PASAL XI KonsuJtasi dan Perubahan 1.
Masing-masing Pihak dapat meminta diselenggarakannya konsultasi mengenai masalah yang berkaitan dengan Persetujuan ini. Pihak lam hams mempertimbangkan secara simpatik atas usulan dan hams memberikan kesempatan yang memadai untuk konsultasi tersebut. Persetujuan ini dapat diubah dengan persetujuan tertulis antara para Pihak. Setiap perubahan harus berlaku pada saat masing-masing Pihak memberitahukan kepada Pihak lainnya bahwa perubahan tersebut telah memenuhi seluruh persyaratan dalam negeri untuk berlakunya perubahan dimaksud.
PASAL XII Mulai Berlaku, Jangka Waktu dan Pengakhiran 1.
Persetujuan ini mulai beriaku pada tar..ggal pe:mberitahuan terakhir oleh setiap Pihak setelah memenuhi prosedur ratifikasi nasional masing-masing. Persetujuan im akan tetap berlaku untukjangka waktu 10 (sepuluh) tahun dan terns berlaku kecuali diakhiri sesuai dengan paragraf 2 Pasal ini.
2. ·
Salah satu Pihak dapat, iHenyampaikan pemberitahuan tertulis dalam jangka waktu satu tahun kepada Pihak lainnya, untuk mengakhiri PersetujuaII ini pada a.kllir sepuluh tahun pertama atau setiap saat setelah itu.
3.
Mengenai µenanaman moda~ ye<.ug dilakukan atau di~etujui sebelum tanggal pengakhin:n Per5etujuan. irj dan k~cuali PersetujuaP ini dilaksanakan berbeda, ketent..:an-ketentuan dari senma Pasal-pasal lain 10
dalmn Persetujuan ini harus terus bcr!ak u secara efektif untuk jangka waktu 10 (sepuluh) t~hnn berikutnya terhitung sejak tanggal re~:akhirnya Persetujuau ini.
SEfiAGAI BUKTI, yang benar:da tangan di bawah ini, diberikan kuasa penlih oleh Pemerintah masing-ma~;ing, tcl~h m.e:ianda-tangani Persetujuan 1111.
Dibuat dalam rangkap dua di ..~~~......... pada - ~ ..~ff..!Cfll. .... . dalam bahasa Indonesia, Turki dan Inggris~ seluruh naskah mempunyai kekuatan hukum yang sama. Apabila terdapat perbedaan mengenai pemafsiran, maka naskah dalam bahasa Inggris hams berlaku.
LNTUK PEMERINTAH REPUBLIK INDONESIA
UNTUKPEMERINTAH REPUBLIK TURKI /
/
, ·'Signed -- ,
Signed··
_1_l
ENDONEZYA CUMHURlYBTl HUKUMET i VE
TURKlYE CUHHURtYBTt HUKUMBTt ARASINDA YATIRIMLARIN TESVtKi VE KORUNMASINA :tLtSKtN ANLA$MA
Bundan sonra Taraf lar olarak an lacak olan Cumhuriyeti Htiktimeti ve Tilrkiye Cumhuriyeti
Endonezya
Hil ti eti
I k i tilke ve halk l a r1 aras1nda mev ut l sbirliOine yonelik i li$kilerin kabultiyle ;
dostane
ve
Ozel l ikle bir Taraf ya 1r1mc lar1n1n di~er Taraf 1n tilkes ndeki yat1r1mlar1yla i lgili olarak, aralarinda ; i ekonomik isbirliQini artirma arzusu i le; Bir Taraf yat1r1mc1 l ar1n1n diQe r Taraf ir tilkesindek i yat r1mlar1 susunda egemen es ' tlik e kars1l1k 1 fayda esas1na dayal1 elver is Ii yat1r1m osullar1 ol sturmak niyetiyle ; Bu yat1r1mlar1 tabi b lunacao1 muameleye il i skin anlasman1n sermaye e teknoloji ak1s n _ e Taraf larin iktisad i gelisimlerin i h1zland1racaQ1n1 kabul bir
ederek;
AsaO
aki se ilde a nlasmaya va r m1slard1r . - 1-
MADDE- I Tanim lar tsbu Anl asmanin amac1 bak1m1ndan;
" "Ya 1r1m" terimi , ev sahib i Tarafin kanun ve n izamlar1na uygun olmak kay y a , he r t tir ti mal varl 101n1 ve s 1n1 rlay1c i o mamak a beraber ozell i k e asa~1dakiler i
tedbir ,
kapsar :
( a ) tas1n1 r ve tasinmaz mallar i l e i potek , rehin gibi diQer ayn i h a klar i le d i {Je r benze r
hak ar ,
( b ) hisse senetleri . t ahviller ya da sir et l ere ka 1l1m1n diQer sekilleri , : c ) yeniden yat1r1mda kullanilan hasilatlar : alacaklar i veya mali deOeri olup kanunen "f a edilebilen bir yat1r1mla i lgili diQer akla r ,
para
:a) telif hakk1, patent , lisans, s inai tasar1m , teknik proses i l e bunlar 1n yan1s1r a ticar i marka , setemaliye, know how gibi s1nai ve fikri rntilkiyet hak ar 1 i A enzer diQer aklar, e i sti rac1 ,
doQal ka nak l ar1n aranmasi , islenmesi , 'sleti mesi dahi l o lmak ilzere her bi r Taraf1n anun ya da sozles e i le erilmi$ i~
·· kesinde imt · ya,,.,lar1.
2 . "Yat1r1mc1 1 ' ter mi ·
(a He r bir Ta rafin ytirilrlilktek i gdre vatan as i say1lan ger9ek kis'.leri ,
mevzuatina
(b Taraflardan he r birinin ytirtirltik eki mevzuati 9er9eve sinde kurulmu~ ve merkez i i le ekonomik etkin likleri o Taraf1n tilkesinde bul nan s irketler , f irmalar veya is ortakl klar1n1 ifade eder . 3 . 'Has latlar " te r imi , bir yat1r i mdan elde edilen ve azellikle ancak s1n1r l ay1c 1 olmayacak sekilde kar , faiz ve temetttiler i i 9erir . - 2-
4. nolke " teri i :
a ) Endonezya Curnhuriye i bak1rn1ndan : Endonezya Cumhuriyet · ti kes i i le Endonezya C rnhuriyeti ,in luslararas1 hukuka uygun olarak egemenlik ve egemenlik ve yarg 1 haklar1na sahip olduQu bi t i~ik b61geler i ifade eder. ( b ) Tilrkiye Cumhuriyeti bak1m1ndan : Tilrkiye kara tilkes i ve karasular1 il e uluslararas 1
hukuka uygun o larak yarg1lama veya egemenlik sahip old 0 Ulke denizle r ini i fade ede r.
haklarina
MADDE- II
Yat1r1rnlar1n Tesviki ve Korunmasi 1. Herbir Ta a f kendi illkesinde diQer Tarafin yat 1rimc1 ar1n1n yat ri m yapmas1n1 tesvik edecek ve elverisli kosulla l yaratacak ; diOe r Tara f y t1r1mc1lar1n1n yat1r1mlar1na v e i gi l i faal i yet l erine benze r ururnlarda herhang i ti9ilncil bir ti kenin yat1r1mc1lar1n1n yat1r1mlar1na kend i kanun ve nizarnlar1 9er9evesinde gBstereceQi muameleden daha az elverisli olmayacak sek ' lde izin verPcektir .
2. Taraflardan her biri kurulmus o , an bu yat1r1mlara , kendi yasa v e nizamlari uyar1nca , ben zer durumlarda kend i yat1r1mc1l ar1n1n yat 1rimlar1 veya herhangi ilctincil bi r illke yat1r1mc1lar1n1n yat1r1mlar1na uygulad1Q1 muarneleden hang s i en elveris 1i ise , o rnuameleden daha az elverisli olmayan bir muamele uygulayacakt1r . 3. Tarafl a r1n yabanc1lar1n tilkeye giris , gef;ici ikamet ve 'stihdami i le ilgili kan n ve izam ar1na uygun olarak;
(a ) Taraflardan her birinin yat1r1mc1lar1n1n kendil e r ' ni veya kendilerini i st ihdam eden Taraf1n yat1rimc1s1n1 n oneml · bir miktar sermaye veya aska kaynak taahtidtinde bulundu~u veya bulunmak ilzere olduQ bi r yat1 r 1m1n k rulmasi gelistirilmesi , i dares i amaciyla veya i sletilmesine iliskin tavsiyelerde bul nmak ilzere diQer Taraf 1n illkes ne girmesine ve k lma s na iz in verilecek ir : - 3-
{b bi r Tarafin yilrtirltikteki kanun ve nizamlar1na uygun olarak kurula n e diOe r Taraf y a t1r1rnc1lar1n1 yat 1r1mlar1 olan sirketler segtikler i idari ve teknik personeli tabiyetlerine bak1lmaks1 z 1n istihdam e tmeye mezun olacaklard1r . ~
birinin ge~erl i
Taraf lardan herhang ~ tsbu maddenin hilktimleri , Taraf olduOu asa01dak i anlasmalar bak1m1ndan olmayacakt1r :
a ) mev cut veya ge e ektek ' herhangi bir gtimrtik serbest bolge , bolgese l e konomik t eskilat veya benzer uluslararas 1 anlasma ar ,
birli~i ,
i
iskin
(b ) t amamen veya esas lanlar.
olarak
vergilendirmeye
MADDE I I I
Kamulast1 ma Taraflar _, a ) Kamu yarar1na olrnad1k~a , b) Ayr1mc 1 o lmayacak bir se i e ger9ekles irilmedik9e , c} An1nda , yeterli v e etkin tazmi n a t odenmeksizin ,
d) Ytirtirltiktek i mevzuata ve isbu Anlasman1 n I I . Madderine Konu olan gene prensiplere uygun 1
olmad 1 k~a ,
i iQer Taraf 1n yat 1r1mc1lar1n1n yat1r1mlar 1na yonelik olarak kamulast1rma , milliles t irme ya a dogrudan ya da olayl1 olarak enzer etkisi o l an tedbir ler alrnayacaklard1r. - 4-
MADDE - IV Kamulast1rman1n ve Zararlar1n Tazmini 1 . Kamulast rma t azm'nat 1, kamulast 1r1 lan yat 1 r1m 1 n kamulast ma i 9leminin yap1ldiQ1 veya oorenildi~ i tar ' hten oncek i ger~ek deQe r ine es i t olacakt1 r. Tazminat gecikmesiz olarak 6 denece k ve Madde V paragraf 2'de tan1mland1Q 1 gi b . serbestg transfe r edi ebili r olacakt1 r.
2 . Taraflardan b i r i n i n , yat1r1mlar1 diQer Taraf i lilkesind savas ya da benzer · s i lah l i 9at1smalar , ihtilal , seferberlik hal ', ayaklanma , i~ kar1s1kl1k veya diQer benzer olaylar nedeniyle zarar goren yatir1mc1 ar 1, diQe r Taraf9a kendi ya t 1r1mlar1na ya da her a gi u9uncil bir ill ·e yat1r1 c1lar1na ygulanan muamelede , daha a z lveris1 · olmayacak sekilde bu ttir kayiplarla ilgil i o arak benirnsenecek i slem l erden hangis i en elveri~l i ise o muameleye t abi tu t ulacaklard1r 0
MADDE V Transferler
1. Taraflardan herbiri , diOe r Taraf i n yat1rimc l a r1n1n y at1r1mlar1na i liskin Kanun ve nizamlar 1 9er9evesinde , b ' r yat 1 r1ml a ilgil' biltiln transfe rleri n kendi il lkesinden i9eri ve d1sar1ya serbest9e v e gereks ' z gecikme olmaks zin y ap1lmas na izin er ecektir. Bu ttir t ansferler s1n1rla y 1c1 lmamak il ere asaQ1dakiler i i erir '. (a) hasila t ar , ( b ) b ' r yat1r1m1n ta am1n1n veya bir k sm1n1n sat1s1 veya tasfiyesinden elde edilen kazan9lar , c) Madde I V 9er9evesinde tazrninat ,
d) ya t 1r1m ar a · gil i bore ardan kaynaklanan od me er ,
di<Jer
Tarafin
"lkesinde
bi r
i gil . alisma izni alm1s clan bi r vata n daslar1n1 n e de ettikleri maaslar ,
ticretler ve diQe r tid me er ; (f ) bir ya i r1m odeme l er .
uyusmazl1Q1nda
yat1r1mla Ta r af in haf ta ik do¢ an
2 . Transfer l er , konvertibl bir para birimiyle ve transfer i n yap1ld1Q1 tarihte ge9erli olan doviz kuru lizerind en yap1laca tir . -5-
MADDE-VI
Halef iyet
1 . EOer bi r Taraf yat1r1mc1s1n1n yat1r1m1 ticari olmayan r sklere ars 1 kanuni b'r sistern dah ' linde sgorta edilmisse , - ~g rta ayanin sigorta anlasmas n1n sartlar1ndan iler i gelen her t urlti halefiyeti diQer Taraf ca tan1nacakt1r 2. Sigortalayan , yat r mc1n1n kullanmaya yetki i olab ' leceo · haklar dis1nda h ' 9 bir hakk 1 kullanmaya etkil i o lmayacaktir.
3. ir Taraf ile uyusmazlik ar , bu An asmanin uyar1nc a 9oztimlenecektir.
yatJ.
l
VIII .
Cl
madde
arasindaki hilkilmler ]
MADDE ~-VII
B anlasma , yat1r1mlar 1 ve i lgil ~ faaliyetler i benzer durumlarda bu Anlasma i le saQlanandan daha elverisli bir muameleye tab i kilan , (a) Taraf ardan her birini · anun ve n · zamlar 1 , idari ygulam 1 r veya usullere ya da i dari veya arg1s 1 kararlara ,
b) u lus araras i
ukuk i ytikilmltilti ' ere, veya
(c bir yat , r1m anla$mas1 veya yat1r1m izni kapsamindakiler de dahil olmak tizere , herhang i bir Taraf n tistlenmis olduOu ytikilm ti ilklere a k1 r i olmayacakt1r 1'
11
11
- 6-
MADDE-VII I Bir Tara f ile DiOer Tarafin Yat1r1mc1s1 Aras1nd ak · Uyusmazl1klar1n Co ztimli 1 Tar a flar dan biri i l e d iQe r Taraf i n b ·r yat1r-mc1s1 arasindaki o yat 1r1mc1n1n bir yat1r1mi ile i lgi i uyusmaz l1klar , yat1r1mc1 tarafindan ayr1nt11. ~ bilg i i ;erecek s e · 1a ve y az1 l 1 o l arak yat1r1m yap1lan Tarafa bil dirilecektir . Yat1 imc 1 v e i lg i li Tara£ b1 t··r uyusmazl1k ' ar 1 , mlimktin o duOunca , 'y i ni etle kar$1l 1k i gor "sme ve milzakerel r yoluy a 9ozilmlemeye 9a isacaklardir .
2. E~er uyusmazl1klar, b ' rinc i pa r ag af a be irtilen yaz 1 i bilidirim tar ·h·nden i t ibaren a l t1 ay i<;inde , u yo la 9ozilmlenemezse yat 1r 1mc1n1n tercihine go r e ; a) Yat1r1m1n tilkesinde yap1ld Q1 Taraf1n i lgil i mahkemeler'ne ya da
b ) tahk ' m iGin asaQ dak i merc il ere i -) Washington D.C . ' de 18 Mart 1 968'de irnz a ya a91lan Devletler i le DiQer De v letl e ri Vat a ndas ar 1 Aras1ndak i Yat1r1rn Uyu$ azl k ar1n1n 6zilmil Sbzlesmesi ile kurulmus olan Uluslararas Yat r m Uyusmazlik ar 1 Cozilm Merkez i ( ICSID ) . i i ) Birle$mis Mi let l er luslararas i Ticaret H k k Ko i syonu ' nu n Tahkim K rallar na g5re b aksat a kurulacak bi r tahkim mahkemes i ( UNCIT RA ) , 1
sunu l ab ' lir Yat1r1mc1n n yusmazl10 1 uyusmazliga t araf lan Taraf1n l usa l mahkemeler · ne sundu~ u e nihai k a r ar1n bir y1 l i9inde al1nmad1~ 1 hallerde , uyusmazl1k b Maddenin (b.i) ya da ( b .i i ) f1kralar nda tan1mland1¢1 tizere uluslararas1 t ahk i me goturlilebilir. 3. Tahkim kararlari uyusmazl 1 in blitiln taraf ar _ kes in ve baQlay1c1 olacakt1r . Her b ir Taraf verilen kararlari kend ·, ka un l ar .. <; r<;e es · nde erine get i recekt' i~in
. 7--
MADDR- I X
Taraflar Aras1ndaki Uy smaz l1klar 1n Cbzilri.i 1. Taraflar aras1n aki i$bu Anla~man1n yorumu veya uygu amasi i le ilgili her tirlil uy smaz ik , milmkli, old Qunca diplomatik yollard1 96zillmeye 9al1s1lacakt1r . 2 . Uyusmaz ik , mlizakereleri n baslad1Q1 tarihten itibaren al i ay ic;:inde bu yontemle c;:bzilme kav ' sturula azsa , erhangi bir Tarafin talebi ilzerine heyetine taraf larca anlas1larak bi r t ahkim gotilrillebilir .
3 . Boylesi bir tahk ' m heyet· herbir ka i9in sByle olust ru ac ktir : Her bir Akit Taraf t alebin al nmas ndan i tibaren U9 a ic;:inde , hirer hakem tayin edecekt i r. Bu ik i hakem her iki Tarafin onaylamas1 tizer·ne , i~e r ik i ha kemi n at nma tarihinden sonra ' ki ay ic;:in e atanacak o a uguncil ir tilke atandas olan ilc;:ilncil b'r hakemi se9e eklerd'r . 4. EQer ' u Ma enini 3. Par grafnda belirt'len silreler ic;:inde , Taraflardan bir i hakem t ayin edemez ya da Baskan se9imi yapilamazsa , Taraf ardan herhangi ri Uluslararas1 Ada l et Divani Ba~kan1n1 gere k i atamalar i ya mak tizere d v t edebilir. Ulus arar i Adal et n · van1 Baskan1, Taraf l ar a bir in in atandas i ~- se ya da sozu ge9en k nularda gore ini yerine getirmekten alikonulursa gerekli atamalar1 yapmak ilzere Baskan yard1mc1s i davet edilec e ktir. Baskan yard1mc1s · a Taraflardan birinin vatandasi se ya a ani l an g6rev i yerine getirmekten al1ko lurs Taraflarda ikisinin de vatandas 1 olma yan en kidemli Divan ilyes' gerekli atamalar 1 yapmak ilzere 1
davet edilecek ir. 5 . Tahkim Heyeti ka r ar1 i b Anlasm-nin htik," mlerine ve u uslararas i h kukun yasa e i l - lerine da yandiracak v karara oy9okluQuy a lasa akt1r . Karar her ik ' Tara f a 1s 1ndan da nihai v baOlay1c 1 olacak t1 r.
6 . Tahkim belir leyec ektir
Heyeti kendi usul
k rallar1n1
kendisi
7. He bi . Taraf kend i akeminin ve tahkim slirecindeki temsi inin masraf1n1 kendis i ars1laacak ; Ba ka n masraf ile diaer masraflar Ta r aflarca esit olarak ddenecekt'r --8 -
8. EQe r bir uyusmazlik , bu Anlasman i n III. Maddes i uyar1nca bir u lus araras 1 tahkim heyetine sunulmus ve ha a orad a ~oztim beklemekte i se , ayn1 uyusrnazl1k sbu madd htikilml eri yar1n c a baska bir uluslararas 1 t ahki heyetine S ' nulmayacakt1r . Bu ; her · k i Taraf a r as 1nda doQrudan ve an laml 1 gbrilsmeler yoluyla baQlant 1 kurmay 1 enge l lemeyecektir MADDB-X
Anl asman1n Uyqulanab i lirliQi 1. tsbu anlasma, Endone zya Cumhuriyet ~ ya t 1r1mc1lar1n1 TGrki ye Cumhuriyeti ' n'n illkesindeki yat1r1mlar1na ve Ttirkiye Cumhuriyeti yat1 r1 mc1lar1n1n Endonezya Cumhuriyetinin Ulkes'nde 196 tarih ve 1 no.lu " aba i Sermaye asas1" ve bunu de¢istiren ya da yerine ge9en ya a uyarinc iz i n alm1s yat1r1mlar1na uygu l anacaktir . 2. ! sbu Anlasma yurilrltiQe girmeden once yahut sonra en ttim yat1r1mlara uygu la nac ak anca bu Anlasman1 tiktimler , yilrilrl ti ~e gir e s inden oncek i uyusmazl1k , iddia ya da farkl 11klar hususunda uygu l anrnayacak t1 r . ger~ek l est i ri
MADDB-XI tstisareler ve DeO i siklikler 1 . Ta r af l ardan herb · r isb Anlasmayla ilgi l i he r han g i bir Kan nda istisare l erde b ulunmay i t alep edebilir. DiOer Taraf bu oneriyi oluml bir bi9imde deQerlendirecek ve bByles i is isareler i9in uygun or tarn yaratacaktir. 2, t sbu Anlasma Taraflar aras1nda yaz1 l 1 bi Anlasmayla deQistirilebilir . Herhang i bir deOisiklik , Taraf lardan herbirinin diQer Tarafa bu deQisikliOin yilrilrlilQe gir esi i9in gerekli ttim a il i formalite ' er i tamamlad1Q1n b i ldirmes i Uzerine yururluOe g recek ir. - 9-
MADDE XI I
Anlasman n Ytirtirlilge Girmesi,
Stir~
Sona Ermesi
·sbu An asma , her bi r Taraf1n d i Qerine i sbu Anlasman1n yilrti ltiOe girmes~ 9 · n gerekl i onay slirecinin tamam ad Q1 i bildir ikleri tar· ,te ytirilrl ··~ girecekti , . A la~ma on i 1 k bi do i9i yilr :· r lilkte kalacak ve bu Maddenin i inci paragra ina 6re sona erdir . lmediOi silrece yilrilrltik e kalacakt1r. 2 . Taraf a dan he r b'r i ya~1l 1 ola ak diQer Tarafa y 1l 6ncesinden feshi i hbarda buluna ak, Anlasmay1 o y1l k don min sonunda veya undan sonra he, an sona erd·rebilir .
b' r i k
3.
! b Anla~man n sona erme ta i inden once ya da gergekle en ve bu Anlasman1n u gulanacaQi ar a i g i l i o larak , bu Anlasman n d · Qer b ·· tin erini · hil -amle i soz o u '· sona er e t ari · nd n ilave bir on yi l daha ti ti ltik · e kalacak 1r . 1
i
Bu An asmay1 Taraf lar n tam yetki i uzurlar1n a imza am1 lard1r
emsilciler i;
~r_9! _ __
tarihin e ~ ~Y.-!~z, da e ingili ~ ce illerin e hep · e i zala ,1st2r .
ndonezyaca , s1l o ar k
il ' 9
ENDONEZYA CUMHUR!YET! HtlKtiMET'! ADINA
TORK!YE
,.,-
Signed
UMHURtYET !
HOKOMET ! ADI
.,
Signed .
_,.,
-
AGREEMENT BETWEEN THE GOVERNMENT OF THE RT~PUBLIC OF INDONESIA AND THE GOVERNMENT OF THE REPUBLIC OF TURKEY CONCERNING THE PROMOTION AND PROTECTION OF INVESTMENTS
II• I~
The Government of the Republic of Indonesia and the Government of the Republic of Turkey, hereinafter called ti-1e Parties; Bearing m mind the friendly and cooperative relations existing between the two countries and their peoples; Desiring to promote greater economic cooperation between them, particularly with respect to investment by mvestors of one Party in the t~rritory of the other i)arty; Intending to create favourabie conditiors for investment::> by investors of one Party in the terr:t0ry of the other Party on the r·::tisis (Jf sovereign equality
... 1.~
Recognizing that agr~ernent up011 the treatment to be accorded such investment will stimulate the flow of ca~ital and technology and the economic developments of the r arties~ Have agreed as follows:
l!
~ ~
ri
~.___
__________________
____.
Article I Definition~
For the purpose of this Agreement; l.
The term "investment", in conformity with the hosting Party's laws and regulations, shall mean any kind of asset invested by investor of one Party in the territory of the other Party, mcluding but not exclusively: (a)
movable and immovable property, as well as any other rights in rem such as mortgages, liens, pledges and any other similar rights,
I~
(b)
shares, stocks or any other form of partic1pation m
I
( c:)
returns reinvested, claims to money or any other rights to legitimate performance having financial value related to an investment,
(d)
copyrights, industrial and intellectual property rights such as patents, licenses, industrial designs, technical processes, as well as trademarks, goodwlll, know-how and other similar rights,
(e)
business cor:cessions confoITed by law or by contract, including concess10ns t'J :;c2-.:rch for~ cn1 tivate. exi_ract or exploit natural resources.
...
,
. i j
11 14.
'· ~ 1.£ lo
K '.l ~
Ii.
companies~
~
1-: I•
...J
2.
The tem1 ''investor" rr,:eans: (a)
natural pffsons deriving their status as nationals of either Party according to its applicable law,
(b)
corporations, finns 0r busjness associatwns incorporated or constitute(1 under the Lnv 111 force of either of the Parties and having thei1· headquarttn: and economic activities in the territory of ihat Pa1t~.r .
2 I J
l
·----.r_ - _.
_f
J
••.
-
-
!
_J~.
I
,.
' -
.-
....---------------------------------------------------------.1~ 3.
The term "returns" means the amounts yielded by an investment and includes in particular, though not exclusively, profit, interest, and dividends.
4.
The term "territory" means : (a)
In respect of the Republic of Indonesia : the territory of the Republic of Indonesia~ and the adjacent areas over which the Republic of Indonesia has sovereignty, sovereign rights or jurisdiction in accordance with international law;
(b)
In respect of the Republic of Turkey: the Turkish territory, territorial sea, as well as maritime areas over which it has junsdiction or sovereign rights for the purpose of exploring, exploiting, conservmg and managmg natural resources, pursuant to international law"
Promotion and Prntect1on of Investments
: i
1.
Each Party shall eac0urag0 and creme favourable conditions for investors of the otlicr Party to inves1 in 1ts territory, shall permit in its territory investments, and activities associated therewith, on a basis no less favourable than that nccorded in similar situations to ii ivestments of investors of an.y third country, within the framework of its laws and regulations.
2.
Each Party shall, ]n conrom1ity with its laws and regulations, accord to these investments, once estabi1shed, treatment no less favourab1e than that accorded iri similar situation~ to investments of its investors or to inves·.:ments of investo!'s CJ[ an)' 'lhird country, whichever is the most favourable
3
It
3.
Subject to the laws and regulations of the Parties relating to the entry, sojourn and employment of aliens ; (a)
investors of either Party shall be permitted to enter and remain in the territory of the other Party for purposes of establishing, developing, administering or advising on the operation of an investment to which they, or an investor of the first Party that employs them, have committed or are m the process of committing a substantial amount of capital or other resources,
(b)
companies which are legally constituted under the applicable laws and regulations of one Party, and which are investments of investors of other Party, shall be permitted to engage managenal and technical personne] of their choice, regardless of nationality.
The provisions of this Article shall have no effect m relation to following agreements entered into by either of the Parties.
4.
(a)
relating to any existing or future customs umons, regional economic organization or similar international agreements,
(b)
relating wholly or mainly to taxation.
Article Ill
Parties shall net take measures of exprnpri&t1on, nationalisation or measures having directly or indirect!y similar effects against the investments of investors of the 0ther Party except ;
I
~
I
(a) (b) (c) f d) ' /
I
for a public purpose, in a non-discriminatory \vay, again3t pay1ni~m of pr0mp1, effective and adequate compensation, and with due pro:css .Jf law an:i the general principles ~f treatment prnvlded for it' !~rt1de D \} f this Agreement.
ii ~
,l
r•
!~------------------------------------------------------------------
Article IV Compensation for Expropriation and Losses.
1.
Compensation for expropriation shalJ amount to the fair market value of the expropriated investment before the expropriatory action was taken or became public knowledge. Such compensation shall be paid without delay and be freely transferable as described in paragraph 1 Article V.
2.
Investors of one Party, whose investments in this territory of the other Party suffer losses owing to war or other armed conflict, revolution, a state of national emergency, revolt, insurrection or riot in the territory of the latter Party, shall be accorded by the latter Party treatment not less favourable than that accorded to its investors or to investors of any third country, whichever is the most favourable treatment, as regards any measures it adopts in relation to such losses.
Article V Transfers
1.
Either Party shall pe1mit, within the scope of its laws and regulations in respect to investments by investors of the other Party, all transfers related to an investment to be made freely and without ur.reasonable delay into and out of its temtory. Sucb transfers mclude though not exclusively: (a) (b) (c) (d)
returns,
proceeds from the sale er liquidatiou of all or any part of an in ves tmer: t, conmei.1sation nursuant to Articlt: IV., r payments made under loan agreements m connection with investments, .l
s
(e)
( f) 2.
salanes, wages and other remunerations received by the nationals of one Party who have obtained in the territory of the other Party the corresponding work permits relative to an mvestment, payments arising from an investment dispute.
Such transfers shall be made in a freely convertible currency at the prevailing rate of exchange on the date of transfer.
Article VI Subrogation
1.
If the investment of an investor of one Party is insured agamst non-commercial risks under a system established by law~ any subrogation of the insurer which sterns from the terms of the insurance agreement shall be recognized by the other Party.
2.
The insurer shall not be entitled to exercise any rights other than the rights which the investor would have been entitled to exercise.
3.
Disputes between a Party and an insurer shall be settled in accordance with the provisions of A~ticle VIII of this Agreement.
Article '/II
This Agreement shall not derogate fr:Jm: (a)
laws and regulations, administrative practices or procedures or administrative or adjudicatory decisions of either Patty,
(b)
international
l~ga1
obligaticns, u1·
6
.
~
j
l:------------------------------------------------------------------
(c)
obligations assumed by either Pany~ including those contained in an investment agreement or an investment authorization,
that entitle investments or associated activities to treatment more favourable than that accorded by this Agreement in like situations.
Settlement of Disputes Between One Pam~ and Investors of the Othe!' Party
1.
Disputes between one of the Parties and an investor of the other Party, in connection with his investment, shall be notified in writing, including a detailed information, by the investor to the recipient Party of the investment. As far as possible, the investor and the concerned Party shall endeavour to settle these disputes by consultations and negotiations in an amicable way.
2.
If the disputes cannot be settled in this way within s1x months following the date of a written notification, the dispute can be submitted as the investor may choose: a.
either to a competent court of the Party in whose territory the investment was made; or
b.
for arbitrnt10n to : i)
the internationaJ Centre for Settlement of Investment Disputes (ICSID) set Gp by the "Convention on Settlement of Investment Disputes between States and Nationals of other States", opened for signature at Washington, D.C. on March l 8th ~-965: 01·
ii)
an ad hoc court of arbitration laid down under the Arbitration Rules of Procedure of the United Nations Commission for Inte111ational Trade Law (UNCITRAL).
7
In case that the investor concerned has brought the dispute before the national court of the Party that is a µmty to the dispute and a final award has not been rendered within one year, such as dispute might as well be submitted to international arbitration as defined in (b.i) or (b.ii) of this article. 3.
The arbitration awards shall be final and binding for all Parties m dispute. Each Party commits itself to execute the award according to its national law.
Article IX Settlement of Disputes Between the
I.
Disputes between the Parties concerning the interpretation or application of this Agreement should, if possible, be settled through diplomatic channels.
2.
[fa dispute between the Parties cannot thus be settled after a period of six months the date of beginning of negotiations, it shall upon the request of either Party be submitted to an arbitral tribunal, as agreed upon by the Parties.
3.
Such an arbitra) tribuna1 shall be c011stituted for each individual case in the followinb way. Wjthin three months of the receipt of the request for arbitration, each Party shall appoint one member of the tribunal. Those two members shall then select a national of a third State who, on approva] by the ~wo Parties shall be appointed within two months from th_e date of appointment of the other two members.
4.
If within the periods specifie,d in paragraph 3 of this Article one of the Parties fails to appoin: an arbit1 ator or a Chairman cannot be selected, either Party may ir~vite the Presideet of the fatemational Court of Justice to make any necess,my appointments. If the President is a national of eif~er Party or ~~ he is otherwise prevented from discharging the said :._1rnction, the Viet: President shall be invited to
~I
I:
' t
l
Partie~
make the necessary appointments. lf the Vice President 1s a national of either Party or if he is too prevented from discharging the said function, the members of the International Court of Justice next m seniority who is not a national of either Party shall be invited to make the necessary appointments. 5.
The arbitral tribunal shall base its decisions on the provisions of this Agreement and the rules and principles of the international lawi and shall reach its decisions by a majority of votes. Such decision shall be final and binding for both Parties.
6.
The arbitra] tribunal shall determme its own rules of proceedings.
7.
Each Party shall bear the cost of its own member of the tribunal and of its representation the arbitral proceeding; the cost of the Chairman and the remaining costs shall be borne in equal parts by the Parties.
8.
A dispute shall not be submitted to an international arbitration tribunal under the provisions of this Article, if the same dispute has been brought before another international arbitration tribunal under the provisions of Article VIII and is still before the tribunal. This will not impair the engagement in direct and meaningful negotiation between both Parties.
Article
X
Applicability of this Agreement 1.
This Agreement shall apply to mvestments by investors of the Republic of Turkey in the territ01y of the Republic of Indonesia which have been previously granted admission in ac~ordance with the Law No. I of 1967 concerning Foreign lnvestrr•ent and any law amending or replacing it~ and to mvestments by investors of the Republic of Indonesia in the territ01y .Jf the Republic of Turkey.
!)
2.
This Agreement shall apply to all investments, whether made before or after the date of en try into force of this Agreement, but the provisions of this Agreement shall not apply to any dispute, claim or difference which arose before its entry into force.
Consultation and Amendment
r
l-
1.
Either Party may request that consultations be held on any matter concerning this Agreement. The other Party shall accord sympathetic consideration to the proposal and shall afford adequate opportunity for such consultations.
2.
This Agreement may be amended by written agreement between the Parties. Any amendment shall enter into force when each Party has notified the other that it has completed all internal requirements for entry into force of such amendment.
~
Article XII
•
'
I~
Entry into Force. Duration and Termination
1.
This Agreement shall enter into fore~ on the date of the latest notification by any Party of the 8.ccomplishment of its internal procedures of ratification. It shall !·emain in force for a period of ten years and shall co:-itinue in force unltss terminated in accordance with parngraph 2 of this Article-.
2.
Either Party may, by gjv~ng "Jne ·year's written notice to the other Party, terminate thi~ Agreer;icr!t at the end of the mitial ten year r criod or at any time thereafter.
fl
• 10
I~
ii.___________________________ II'.
3.
\;\/ith respect to investments made or acquired prior to the date of termination of this Agreement and to which this Agreement otherwise applies, the provisions of all of the other Articles of this Agreemen~ shall thereafter ·~ontinue to be effective for a further period of ten years from such date of tennination.
IN \VITNESS 'NHEREOF, the undersigned duly authorized thereto have signed this Agreement. DONE in duplicate at Ja~rm _on the day of 2s; f&bn.Jo~n the Indonesian, T Jrkish and E11glish languages. In case of divergence of interpretation the English text shall prevail
> fj:
1:a
FOR THE GOVERNMENT OF TJlE REPUBLIC OF INDONESIA
FOR THE GOVERNI\1ENT OF THE REPUBLIC OF TURKEY
"
Signed ( _ ~
Signed
.... ..
;
., l• I•,
!t
~·
-:
I•
,
I•' ~)
I
~/
