The Government of the United Arab Emirates and the Government of the Republic of Azerbaijan (hereinafter collectively referred to as the "Contracting Parties" and each referred to as a "Contracting Party"),

Desiring to intensify economic co-operation to the mutual benefit of both countries and to maintain fair and equitable conditions for investments by investors of one Contracting Party in the territory of the other Contracting Party,

R:ecognizing that the promotion and protection of investments on the basis of this Agreement will stimulate business initiatives,

Have agreed as follows: