Page 352 - Regional Comprehensive Economic Partnership (RCEP)
P. 352
17
Article 10.3: National Treatment
1. Each Party shall accord to investors of another Party, and to
covered investments, treatment no less favourable than that it
accords, in like circumstances, to its own investors and their
investments with respect to the establishment, acquisition,
expansion, management, conduct, operation, and sale or other
disposition of investments in its territory.
2. For greater certainty, the treatment to be accorded by a Party
under paragraph 1 means, with respect to a government other
than at the central level, treatment no less favourable than the
most favourable treatment accorded, in like circumstances, by
that government to investors, and to the investments of investors,
of the Party of which it forms a part.
Article 10.4: Most-Favoured-Nation Treatment 18, 19
1. Each Party shall accord to investors of another Party treatment
no less favourable than that it accords, in like circumstances, to
investors of any other Party or non-Party with respect to the
establishment, acquisition, expansion, management, conduct,
operation, and sale or other disposition of investments in its
territory.
2. Each Party shall accord to covered investments treatment no less
favourable than that it accords, in like circumstances, to
investments in its territory of investors of any other Party or non-
Party with respect to the establishment, acquisition, expansion,
management, conduct, operation, and sale or other disposition of
investments.
17 For greater certainty, whether the treatment is accorded in “like circumstances” under
this Article depends on the totality of the circumstances, including whether the relevant
treatment distinguishes between investors or investments on the basis of legitimate
public welfare objectives.
18 This Article shall not apply to Cambodia, Lao PDR, Myanmar, and Viet Nam. The
treatment under this Article shall not be accorded to investors of Cambodia, Lao PDR,
Myanmar, and Viet Nam, and to covered investments of such investors.
19 For greater certainty, whether the treatment is accorded in “like circumstances” under
this Article depends on the totality of the circumstances, including whether the relevant
treatment distinguishes between investors or investments on the basis of legitimate
public welfare objectives.
10-6