The Government of the Czech Republic and the Government of the State of Israel (hereinafter the Contracting Parties),

Desiring to intensify economic cooperation to the mutual benefit of both countries,

Intending to create favorable conditions for greater investments by investors of either Contracting Party in the territory of the other Contracting Party, 

and 

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

have agreed as follows: