The Kingdom of Spain and the Republic of Namibia,

(hereinafter referred to as "the Contracting Parties");

DESIRING to intensify economic co-operation between both countries;

INTENDING to create favourable conditions for investments made by investors

of each Contracting Party in the territory of the other Contracting Party;

and

RECOGNIZING that the promotion and protection of investments under this

Agreement will stimulate initiatives in this field;

HAVE AGREED as follows: