The Government of the Kingdom of Thailand and the Government of the Democratic People's Republic of Korea, hereinafter referred to as the "Contracting Parties",

Desiring to create favorable conditions for greater economic cooperation between both States and, in particular, for the investments by investors of one Contracting Party in the territory of the other Contracting Party,

Recognizing that the promotion of such investments and the reciprocal protection of investments will be conducive to the stimulation of individual business initiative and will increase prosperity in both States,

Have agreed as follows: