THE REPUBLIC OF AUSTRIA AND THE REPUBLIC OF MACEDONIA hereinafter referred to as “Contracting Parties”;

DESIRING to create favourable 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: