The Republic of Panama and the Czech Republic (hereinafter referred to as the "Contracting Parties");

Desiring to develop economic co-operation to the mutual benefit of both States; 

Intending to create and maintain favorable conditions for investments of investors of one State in the territory of the other State, and

Conscious that the promotion and reciprocal protection of investments in terms of the present Agreement stimulates the business initiatives in this field; 

Have agreed as follows: