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Message to the Senate of the United States
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For Immediate Release Office of the Press Secretary November 20, 2008

Message to the Senate of the United States

ÿÿWhite House News


TO THE SENATE OF THE UNITED STATES:

I transmit herewith, with a view to receiving the advice and consent of the
Senate to ratification, the Treaty between the Government of the United
States of America and the Government of the Republic of Rwanda Concerning
the Encouragement and Reciprocal Protection of Investment, signed at Kigali
on February 19, 2008. I transmit also, for the information of the Senate,
the report prepared by the Department of State with respect to the Treaty.

This is the first bilateral investment treaty (BIT) concluded between the
United States and a sub-Saharan African country since 1998. The Treaty will
help to promote cross-border investment by providing legal protections for
investors of each country for their investments in the other country. The
Treaty underscores the shared commitment of both countries to open
investment and trade policies.

Rwanda has opened its economy, improved its business climate, and embraced
trade and investment as a means to boost economic development and help
alleviate poverty. The U.S.-Rwanda BIT will reinforce these efforts.

The Treaty is fully consistent with U.S. policy to secure protections for
U.S. investment abroad and to welcome foreign investment in the United
States. Under this Treaty, the Parties agree to accord national treatment
and most-favored-nation treatment to investments. They also agree to
customary international law standards for expropriation and for the minimum
standard of treatment. The Treaty includes detailed provisions regarding
the payment of prompt, adequate, and effective compensation in the event of
expropriation; free transfer of funds related to investment; freedom of
investment from specified performance requirements; prohibitions on
nationality based restrictions for the hiring of senior managers; and the
opportunity for investors to resolve disputes with a host government
through international arbitration. The Treaty also includes extensive
transparency obligations with respect to national laws and regulations and
commitments to transparency in dispute settlement. The Parties also
recognize that it is inappropriate to encourage investment by weakening or
reducing the protections afforded in domestic environmental and labor laws.

I recommend that the Senate give early and favorable consideration to the
Treaty and give its advice and consent to ratification.

GEORGE W. BUSH

THE WHITE HOUSE,

November 20, 2008.

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