The Government of the Kingdom of the Netherlands

and

the Government of the Republic of Estonia,

(hereinafter referred to as the Contracting Parties),

Desiring to strengthen the friendly relations between their countries, to extend and

intensify the economic relations between them particularly with respect to investments by

the nationals of one Contracting Party in the territory of the other Contracting Party,

Recognizing that agreement upon the treatment to be accorded to such investments will

stimulate the flow of capital and technology and the economic development of the

Contracting Parties and that fair and equitable treatment of investment is desirable,

Have agreed as follows: