THE REPUBLIC OF AUSTRIA AND GEORGIA hereinafter referred to as "Contracting Parties",

DESIRING to create favorable conditions for greater economic co-operation between the Contracting Parties,

RECOGNIZING that the promotion and protection of investments may strengthen the readiness for such investments and hereby make an important contribution to the development of economic relations,

REAFFIRMING their commitment to the observance of internationally recognized labour standards,

HAVE AGREED AS FOLLOWS: