XN000022-1993-09-15 — Page 4

W

1

WEDNESDAY, SEPTEMBER 15, 1993

WHICH

BINDING

SUCH AGREEMENTS ARE BILATERAL INTERNATIONAL AGREEMENTS UNDER INTERNATIONAL LAW

AIM TO PROMOTE AND PROTECT, ON A ONE CONTRACTING PARTY RECIPROCAL BASIS, INVESTMENTS BY INVESTORS OF

FOR INVESTMENT DISPUTES IN THE OTHER'S AREA. THE AGREEMENTS PROVIDE TO BE SETTLED IN ACCORDANCE WITH AGREED PROCEDURES.

SPEAKING AT THE SIGNING CEREMONY, MR CHAU ONE OF HONG KONG'S IMPORTANT INVESTMENT PARTNERS.

SAID AUSTRALIA WAS

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"THE AGREEMENT WOULD BOOST AUSTRALIAN INVESTORS' CONFIDENCE HONG KONG.

IN

CHINESE GOVERNMENT,

FOLLOWING

IS

WITH THE AGREEMENT OF THE CONSIDERATION IN THE JOINT LIAISON GROUP, THE HONG KONG GOVERNMENT NEGOTIATING A NETWORK OF SIMILAR AGREEMENTS WITH ITS MAJOR PARTNERS, MR CHAU SAID.

INVESTMENT

WITH

THE HONG KONG/AUSTRALIA AIR SERVICES AGREEMENT IS THE 10TH SUCH SINO-BRITISH AGREEMENT SIGNED SPECIFICALLY WITH THE PROVISIONS OF THE JOINT DECLARATION IN MIND. THE OTHER NINE AGREEMENTS WERE SIGNED THE NETHERLANDS, SWITZERLAND, CANADA, MALAYSIA, BRAZIL AND SRI LANKA RESPECTIVELY.

FRANCE, BRUNEI,

NEW ZEALAND,

SERVICES A

CATHAY

CURRENTLY, QANTAS OPERATES A TOTAL OF 21 PASSENGER

POINTS IN AUSTRALIA AND WEEK BETWEEN HONG KONG AND VARIOUS PACIFIC AIRWAYS RECIPROCATES WITH SERVICES OF SIMILAR CAPACITY.

SIDES TO

CONTINUE

AGREEMENT WOULD ΤΟ

SPEAKING AT THE CEREMONY, MR SIU SAID THE NEW

CARRIERS OF THE TWO FORM A FIRM BASIS FOR DEVELOP AND EXPAND THEIR RESPECTIVE SERVICES.

THE TWO

WILL NO "THESE SERVICES

DOUBT ALSO BENEFIT THE CONTINUED GROWTH OF LINKS, BOTH ECONOMIC, SOCIAL AND CULTURAL, BETWEEN PLACES, HE SAID.

+

THE

CHINESE

BOTH BILATERAL AGREEMENTS HAVE BEEN CONSIDERED BY GOVERNMENT THROUGH THE JOINT LIAISON GROUP AND HAVE ITS SUPPORT.

AGREEMENT ONCE THE INVESTMENT PROMOTION AND PROTECTION

REMAIN EFFECTIVE FOR 15 YEARS IN THE INTO FORCE, IT WILL

ONLY BE TERMINATED UPON INSTANCE, THEREAFTER, IT WILL NOTICE BY EITHER CONTRACTING PARTY.

ENTERS FIRST ONE YEAR'S

THE AIR SERVICES AGREEMENT ENTERS INTO

IT WILL REMAIN EFFECTIVE AFTER 1997 AND WILL ONLY BE ONE YEAR'S NOTICE BY EITHER CONTRACTING PARTY.

FORCE UPON SIGNATURE.

TERMINATED UPON

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