THE WHITE HOUSE
Office of the Press Secretary
For Immediate Release September 5, 2000
TO THE SENATE OF THE UNITED STATES:
With a view to receiving the advice and consent of the Senate to
ratification, I transmit herewith the Treaty Between the Government of the
United States of America and the Government of the Republic of Lithuania
for the Encouragement and Reciprocal Protection of Investment, with Annex
and Protocol, signed at Washington on January 14, 1998. I transmit also,
for the information of the Senate, the report of the Department of State
with respect to this Treaty.
The bilateral investment treaty (BIT) with Lithuania was the third
such treaty signed between the United States and a Baltic region country.
The Treaty will protect U.S. investment and assist Lithuania in its efforts
to develop its economy by creating conditions more favorable for U.S.
private investment and thereby strengthening the development of its private
sector.
The Treaty furthers the objectives of U.S. policy toward international
and domestic investment. A specific tenet of U.S. policy, reflected in
this Treaty, is that U.S. investment abroad and foreign investment in the
United States should receive national treatment. Under this Treaty, the
Parties also agree to customary international law standards for
expropriation. The Treaty includes detailed provisions regarding the
computation and payment of prompt, adequate, and effective compensation for
expropriation; free transfer of funds related to investments; freedom of
investments from specified performance requirements; fair, equitable, and
most-favored-nation treatment; and the investor's freedom to choose to
resolve disputes with the host government through international
arbitration.
I recommend that the Senate consider this Treaty as soon as possible,
and give its advice and consent to ratification of the Treaty at an early
date.
WILLIAM J. CLINTON
THE WHITE HOUSE,
September 5, 2000.
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