The Government of the Kingdom of Thailand and the Government of the Republic of Hungary, hereinafter called "Contracting Parties",

Desiring to intensify economic co-operation to the mutual benefit of both countries,

Intending to create favorable conditions for investments by nationals and companies of either Contracting Party in the territory of the other Contracting Party,

Recognizing that encouragement and the reciprocal protection of investments on the basis of the present Agreement stimulates the initiative in this field,

Have agreed as follows: