The Government of the Republic of the Philippines,

and

The Government of the Kingdom of Belgium, acting both in its own name and in the name of the Government of the Grand-Duchy of Luxemburg, by virtue of existing agreements, the Government of the Walloon Region, the Government of the Flemish Region, and the Government of the Region of Brussels-Capital, hereinafter referred to as "the Contracting Parties",

Desiring to strengthen their economic cooperation by creating favourable conditions for investments by nationals of one Contacting Party in the territory of the other Contracting Party,

Recognizing that encouragement and protection of investments will benefit the economic prosperity of both States;

Have agreed as follows: