Page 353 - Regional Comprehensive Economic Partnership (RCEP)

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Article 10.3: National Treatment 3. For greater certainty, the treatment referred to in paragraphs 1
and 2 does not encompass any international dispute resolution
1. Each Party shall accord to investors of another Party, and to procedures or mechanisms under other existing or future
covered investments, treatment no less favourable than that it international agreements.
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 Article 10.5: Treatment of Investment
20
disposition of investments in its territory.
1. Each Party shall accord to covered investments fair and equitable
2. For greater certainty, the treatment to be accorded by a Party treatment and full protection and security, in accordance with the
under paragraph 1 means, with respect to a government other customary international law minimum standard of treatment of
than at the central level, treatment no less favourable than the aliens.
most favourable treatment accorded, in like circumstances, by
that government to investors, and to the investments of investors, 2. For greater certainty:
of the Party of which it forms a part.
(a) fair and equitable treatment requires each Party not to
deny justice in any legal or administrative proceedings;
Article 10.4: Most-Favoured-Nation Treatment 18, 19
(b) full protection and security requires each Party to take such
1. Each Party shall accord to investors of another Party treatment measures as may be reasonably necessary to ensure the
no less favourable than that it accords, in like circumstances, to physical protection and security of the covered investment;
investors of any other Party or non-Party with respect to the and
establishment, acquisition, expansion, management, conduct,
operation, and sale or other disposition of investments in its (c) the concepts of fair and equitable treatment and full
territory. protection and security do not require treatment to be
accorded to covered investments in addition to or beyond
2. Each Party shall accord to covered investments treatment no less that which is required under the customary international
favourable than that it accords, in like circumstances, to law minimum standard of treatment of aliens, and do not
investments in its territory of investors of any other Party or non- create additional substantive rights.
Party with respect to the establishment, acquisition, expansion,
management, conduct, operation, and sale or other disposition of 3. A determination that there has been a breach of another provision
investments. of this Agreement, or of a separate international agreement, does
not establish that there has been a breach of this Article.

17 For greater certainty, whether the treatment is accorded in “like circumstances” under Article 10.6: Prohibition of Performance Requirements
this Article depends on the totality of the circumstances, including whether the relevant
treatment distinguishes between investors or investments on the basis of legitimate 1. No Party shall impose or enforce, as a condition for
public welfare objectives. establishment, acquisition, expansion, management, conduct,

18 This Article shall not apply to Cambodia, Lao PDR, Myanmar, and Viet Nam. The operation, or sale or other disposition of an investment in its
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 20 This Article shall be interpreted in accordance with Annex 10A (Customary
public welfare objectives. International Law).

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