The Government of the Hellenic Republic and the Federal Government of the Federal Republic of Yugoslavia,

Hereinafter referred to as the "Contracting Parties",

Desiring to intensify their economic cooperation to the mutual benefit of both countries on a long term basis,

Having as their objective to create favorable conditions for investments by investors of either Contracting Party in the territory of the other Contracting Party,

Recognizing that the promotion and protection of investments, on the basis of this Agreement will stimulate the initiative in this field and thereby significantly contribute to the development of economic relations between the Contracting Parties,

Have agreed as follows: