The Government of the Kingdom of Belgium,

the Government of the Grand-Duchy of Luxemburg,

the Walloon Government,

the Flemish Government,

and the Government of the Region of Brussels-Capital, on the one hand,

and

The Government of the Republic of Indonesia, on the other hand

(herienafter referred to as “the Contracting Parties”),

Desiring to strenghten their economic cooperation by creating favourable conditions for investments by investors of one Contracting Party in the territory of the other Contracting Party,

Recognising that the encouragement and reciprocal protection under national agreement of such investments will be to the stimulation of individual business initiatives and will increase prosperity and welfare in the Contracting Parties.

have agreed as follows:

DESIRING to promote greater economic cooperation between them, with respect to investments by investors of one Contracting Party in the territory of the other Contracting Party;

RECOGNISING the need to protect investments of the investors of one Contracting Party in the territory of the other Contracting Party on a nondicriminatory basis

AGREEING that a stable framework for investment will contribute to increasing the effective utilization of economic resources

RECOGNIZING, that pursuant to the prevailing laws and regulations of the Contracting Parties and taking into account the provisions of this Agreement, both Parties resolve to conclude an agreement concerning the promotion and protection of investment and

ARTICLE 1

DEFINITIONS

For the purpose of this Agreement,

1.      The term “investors” shall mean :

a)      the “nationals”, i.e. any natural person who, according to the legislation of the Kingdom of Belgium, the legislation of the Grand-Duchy of Luxemburg or the legislation of …., is considered as a citizen of the Kingdom of Belgium, a citizen of the Grand-Duchy of Luxemburs or of …. resepectively;

b)      the “companies”, i.e. any corporation, firm or association incorporated or constitued in accordance with the legislation of the Kingdom of Belgium, the legislation of the Grand-Duchy of Luxemburg or of … and having its registered office in the territory of the Kingdom of Belgium, the territory of the Grand-Duchy of Luxemburg or of …. respectively.

For the purposes of this Agreement, a company incorporated or constitued under the law of one Contracting Party but effectively controlled, directly or indirectly, by nationsl or companies of the other Contracting Party, shall be treated as a company of the latter Contracting Party.

2.      The term “investments” shall mean any kind of assets and any contribution in cash, in kind or in services, invested or reinvested, directly or indirectly and more particularly, though not exclusively:

a)      movable and immovable property as well as any other such rights including mortgages, liens, pledges, usufruct and other similar rights;

b)      shares in a company and stock of a company and any other kind of shareholdings, including minority or indirect ones, in companies;

c)      bonds, debentures, other debt instruments, loans futures, options and other derivatives and claims to money and to any performance having an economic value;

d)      intellectual property rights, including copyrights, patents, utility-model patents, industrial designs, trade-marks, trade-names, trade and business secrets, technical process, know-how, and goodwill;

e)            concessions, licenses, authorizations or permits granted pursuant to domestic law or under contract, including concessions to explore, develop, extract or exploit natural resources, turnkey, construction, management, production, public service, concessions and other similar contracts.

Changes in the legal form in which assets and contributions have been invested or reinvested shall not affect their designation as “investments” for the purpose of this Agreement.

3.      The term “returns” shall mean the amounts yielded by an investment and shall include in particular, though not exclusively, profits, interests, capital increases, dividends, royalties, rent and fees.

4.      The term “territory” shall apply to :

a)      the land territory of the Kingdom of Belgium and the land territory of the Grand-Duchy Luxemburg, as well as the maritime areas, i.e. the marine and underwater areas which extend beyond the territorial waters of the Kingdom of Belgium upon which it exercises, in accordance with international law, its sovereign rights and its jurisdiction for the purpose of exploring, exploiting and preserving natural resources;

b)      the territory of ……………………

5.      The term “environmental legislation” shall mean any legislation of the Contracting Parties, or provision thereof, the primary purpose of which is the protecion of the environment, or the prevention of a danger to human, animal, or plant life or health, through:

a)      the prevention, abatement or control of the release, discharge, or emission of pollutants or environmental contaminants;

b)      the control of environmentally hazardous or toxic chemicals, substances, materials and wastes, and the dissemination of information related thereto;

c)      the protection or conservation of wild flora and fauna, including endangered species, their habitat, and specially protected natural areas in the Contracting Party’s territory.

6.      The term “labour legislation” shall mean legislation of the Contracting Parties or provisions thereof, that purpose to give effect to the following international labour standards as defined by the International Labour Organisation :

a)      the right of association;

b)      the right to organise and bargain collectively;

c)      a prohibition on the use of any form of forced or compulsory labour;

d)      a minimum age for the employment of children;

e)      acceptable conditions of work with respect to minimum wages, hours of work, and occupational safety and health.

1. The term “investor” shall mean (means) :

a)      natural persons who, according to the laws of either Contracting Party, have the nationality of that Contracting Party;

b)      legal person of either Contracting Party which are established under the laws of that Contracting Party and their headquarters or their real activities are located in the territory of that Contracting Party,

2. The term “investments” shall mean any kind of assets invested or reinvested  established directly by an investor of one Contracting Party in accordance with the laws and regulations of the other Contracting Party (hereinafter to as the host Contracting Party);

The following shall more particularly, though not exclusively, be considered as investments for the purpose of this Agreement :

a)   movable and immovable property or any property rights as well as any other rights in rem, such as mortgages, liens, pledges, leases, usufruct and similar rights;

b) shares or any kind of participation in companies constitued in the territory of one Contracting Party;

c) Claims to money or rights to a performance having a financial value;

d) Intellectual property rights including but not limited to patents, copyrights, trade marks, geographical indications, industrial designs, layout design of integrated circuits, trade secrets, and rights in plants varieties, as well as business names, technical processes, knowhow and good will;

e) concessions conferred by law, by an administrative act or under a contract by a competent authority, including concession to search for, develop, extract or exploit natural resources.

Any change in the form in which assets are invested or reinvested does not affect their character as investments.

3. The term “returns” refers the amount legally yielded by an investment including profit derived from investments, dividends, royaltie and fees.

b) With respect to the Republic of Indonesia, its territory as defined in its laws including part of the continental shelf and adjacent seas over which the Republic of Indonesia has sovereignty, sovereign rights or jurisdiction in accordance with the provisions of the United Nations Convention on the Law of the Sea of 1982

This para would be deleted. Any bilateral investments treaty made by Indonesia doesn’t cover environmental, labor and tax aspects.