The Government of the Republic of Croatia and the Government of the Republic of Azerbaijan,
hereinafter referred to as the “Contracting Parties”,

DESIRING to intensify economic cooperation to the mutual benefit of both Contracting Parties and
to maintain fair and equitable conditions for investments by investors of one Contracting Party in
the State territory of the other Contracting Party,

RECOGNISING that the promotion of international investment flows and the protection of
investments of one Contracting Party in the State territory of the other Contracting Party on the
basis of this Agreement shall be conducive to stimulation of business initiatives,

DESIRING to achieve these objectives in a manner consistent with the protection of health, safety,
and the environment and the promotion of sustainable development,

HAVE AGREED AS FOLLOWS: