The Czech Republic and Ireland (hereafter referred to as "the Contracting Parties"),

Desiring to create favorable conditions for greater investment by investors of one Contracting Party in the territory of the other Contracting Party,

Recognizing that the encouragement and reciprocal protection under international agreement of such investments will be conducive to the stimulation of individual business initiative and will increase prosperity in both Contracting Parties,

Have agreed as follows: