The Republic of Bulgaria and the Republic of Hungary, (hereinafter referred to as the "Contracting Parties"),

Desiring to develop the economic cooperation between the two States,

Intending to encourage and maintain favorable conditions for investments of investors of one Contracting Party in the territory of the other Contracting Party on the basis of mutual benefit,

Recognizing that the mutual promotion and protection of investments, in accordance with the present Agreement, stimulates the initiatives in this field,

Have agreed as follows: