The State of theUnited Arab Emirates and Mongolia ,(hereinafter referred to as the "Contracting States"); Desiring to create favourable conditions for the development of economic cooperation between them and in particular for investments by investors of one contracting State in the territory ofthe other Contracting State; Recognizing that the encouragement and reciprocal protection of such investments will be conducive to the stimulation of business initiative and to the increase ofprosperity in both Contracting States; 

Have agreed as follows;