The Government of the United Kingdom of Great Britain and Northern Ireland and the Government of the Hungarian People's Republic,

Desiring to intensify their economic co-operation by creating favorable conditions for further investment by investors of either State in the territory of the other State;

Recognizing that the encouragement and reciprocal protection under international agreement of such investments will be conducive to the stimulation of business initiative of investors and will increase prosperity in both States;

Have agreed as follows: