AGREEMENT BETWEENJAPAN AND THE SULTANATE OF OMANFOR THE RECIPROCAL PROMOTION AND PROTECTION OF INVESTMENT

AGREEMENT BETWEENJAPAN ANDTHE SULTANATE OF OMANFOR THE RECIPROCAL PROMOTION AND
PROTECTION OF INVESTMENT

Japan and the Sultanate of Oman (hereinafter referred
to as “the Contracting Parties”),
Desiring to further promote investment in order tostrengthen the economic relationship between theContracting Parties;
Intending to further create stable, equitable,favourable and transparent conditions for greater
investment by investors of a Contracting Party in the Areaof the other Contracting Party;
Recognising that these objectives can be achieved
without relaxing health, safety and environmental measuresof general application;
Recognising the importance of the cooperative
relationship between labour and management in promoting
investment between the Contracting Parties in line withinternationally accepted labour standards; andConvinced that this Agreement will contribute to thefurther development of the overall relationship between theContracting Parties;
Have agreed as follows:
Article 1
Definitions
For the purposes of this Agreement,(a)the term “investment” means every kind of asset
that an investor owns or controls, directly or
indirectly, that has the characteristics of aninvestment, such as the commitment of capital orother resources, the expectation of gain or
profit, or the assumption of risk, including:(i)an enterprise and a branch of an enterprise;(ii)

shares, stocks or other forms of equity
participation in an enterprise, including
rights derived therefrom;- 1 -(iii)

bonds, debentures, loans and other forms ofdebt, including rights derived therefrom;(iv)

rights under contracts, including turnkey,
construction, management, production orrevenue-sharing contracts;(v)

claims to money and to any performance undercontract having a financial value;(vi)

intellectual property rights, including
copyrights and related rights, patent rights
and rights relating to utility models,trademarks, industrial designs, layoutdesigns of integrated circuits, newvarieties of plants, trade names,
indications of source or geographicalindications and undisclosed information;(vii)

rights conferred pursuant to laws andregulations or contracts such asconcessions, licenses, authorisations
and permits, including those for the
exploration, prospect, exploitation andextraction of natural resources; and(viii)

any other movable and immovable property,
and any related property rights, such asleases, mortgages, liens and pledges;

Investments include return. The term “return” means
the amounts yielded by investments, in particular, profit,
interest, capital gains, dividends, royalties and fees.
A change in the form in which assets are invested or
reinvested does not affect their character as investments,
provided that the change is not inconsistent with the laws
and regulations of the Contracting Party where the assets
are invested or reinvested.
(b)

the term “investor of a Contracting Party” means:(i)a natural person having the nationality ofthat Contracting Party in accordance with
its applicable laws and regulations; or(ii)

an enterprise of that Contracting Party,

that is making or has made an investment in the
Area of the other Contracting Party;

- 2 -

(c)

the term “enterprise of a Contracting Party”
means any legal person or any other entity duly
constituted or organised under the applicablelaws and regulations of that Contracting Party,
whether or not for profit, and whether privateor government owned or controlled, including
any corporation, trust, partnership, sole
proprietorship, joint venture, association,organisation or company;(d)an enterprise is:(i)“owned” by an investor if more than fifty
percent of the equity interest in it isowned by the investor; and(ii)“controlled” by an investor if the investor
has the power to name a majority of its
directors or otherwise to legally direct its
actions;(e)

the term “investment activities” means operation,
management, maintenance, use, enjoyment and saleor other disposal of investments;(f)the term “Area” means:

(g)

(i)

with respect to Japan: its territory, andthe exclusive economic zone and thecontinental shelf with respect to which
Japan exercises sovereign rights or
jurisdiction in accordance withinternational law; and(ii)

with respect to the Sultanate of Oman: theland, internal waters, territorial waters,
air space under its sovereignty, andmaritime areas, namely, the exclusive
economic zone and the continental shelfwhere the Sultanate of Oman exercises
sovereign rights or jurisdiction inaccordance with its domestic laws and theprovisions of international law; andthe term “freely usable currency” means freely
usable currency as defined under the Articles ofAgreement of the International Monetary Fund.

- 3 -Article 2
Promotion and Admission of Investment
1.
Each Contracting Party shall encourage and create
favourable conditions for investors of the other
Contracting Party to make investments in its Area.
2.
Each Contracting Party shall, subject to its rights
to exercise powers in accordance with its applicable laws
and regulations, including those with regard to foreign
ownership and control, admit investment of investors of theother Contracting Party.
Note:

For greater certainty, this paragraph shall not be
construed to oblige one Contracting Party to accord
investors of the other Contracting Party and totheir investments the same treatment it accords to
its own investors and to their investments, withrespect to the acquisition or lease of real estate.
Article 3
National Treatment

1.
Each Contracting Party shall in its Area accord toinvestors of the other Contracting Party and to theirinvestments treatment no less favourable than the treatment
it accords in like circumstances to its own investors andto their investments with respect to investment activities.
2.
The provision of paragraph 1 shall not apply to
subsidies including grants, government supported loans,guarantees and insurance.
3.
Paragraph 1 shall not be construed to prevent aContracting Party from adopting or maintaining a measurethat prescribes special formalities in connection withinvestment activities of investors of the other Contracting
Party in its Area, provided that such special formalities
do not impair the substance of the rights of such investors
under this Agreement.
Article 4
Most-Favoured-Nation Treatment
1.
Each Contracting Party shall in its Area accord toinvestors of the other Contracting Party and to theirinvestments treatment no less favourable than the treatment
it accords in like circumstances to investors of a nonContracting Party and to their investments with respect toinvestment activities.

- 4 -Note:

It is understood that the treatment referred to inparagraph 1 does not include treatment accorded toinvestors of a non-Contracting Party by provisions
concerning the settlement of investment disputes,
such as the mechanism set out in Article 15, that isprovided for in other international agreements
between a Contracting Party and a non-Contracting
Party.

2.
The provisions of paragraph 1 shall not be construed
so as to oblige one Contracting Party to extend to theinvestors of the other Contracting Party the benefit of any
treatment, preference or privilege resulting from any
existing or future free trade area, customs union, economic
union, or other form of regional agreement, to which eitherof the Contracting Party is a party.
Article 5
General Treatment and Improvementof Investment Environment
1.
Each Contracting Party shall in its Area accord toinvestments of investors of the other Contracting Party
treatment in accordance with international law, including
fair and equitable treatment and full protection andsecurity.
2.
Neither Contracting Party shall, within its Area, in
any way impair investment activities of investors of theother Contracting Party by arbitrary measures.
3.
Each Contracting Party shall observe any obligation
it may have entered into with regard to investments andinvestment activities of investors of the other Contracting
Party.
Article 6
Access to the Courts of Justice
Each Contracting Party shall in its Area accord toinvestors of the other Contracting Party treatment no lessfavourable than the treatment which it accords in likecircumstances to its own investors or to investors of a
non-Contracting Party with respect to access to the courtsof justice and administrative tribunals and agencies in all
degrees of jurisdiction, both in pursuit and in defence ofsuch investors’ rights.

- 5 -Article 7
Transparency
1.
Each Contracting Party shall promptly publish, orotherwise make publicly available, its laws, regulations,administrative procedures and administrative rulings andjudicial decisions of general application as well asinternational agreements which pertain to any matters
covered by this Agreement.
2.
Each Contracting Party shall make publicly available
the names and addresses of the competent authorities
responsible for laws, regulations, administrative
procedures and administrative rulings, referred to inparagraph 1.
3.
Each Contracting Party shall, upon request by theother Contracting Party, promptly respond to specificquestions and provide that other Contracting Party withinformation on matters set out in paragraph 1.
4.
Paragraphs 1 and 3 shall not be construed so as tooblige either Contracting Party to disclose confidential
information, the disclosure of which would impede law
enforcement or otherwise be contrary to the public
interest, or which would prejudice privacy or legitimate
commercial interests.
Article 8
Measures against Corruption
Each Contracting Party shall ensure that measures andefforts are undertaken to prevent and combat corruption
regarding matters covered by this Agreement in accordancewith its laws and regulations.
Article 9
Entry, Sojourn and Residence of Investors
Each Contracting Party shall, subject to its
applicable laws and regulations relating to the entry,
sojourn and residence, permit a natural person having
the nationality of the other Contracting Party and apersonnel employed by, an executive, a manager and amember of the board of directors of, an enterprise of theother Contracting Party to enter the Area of the former
Contracting Party and remain therein for the purpose ofinvestment activities.

- 6 -Article 10
Expropriation and Compensation
1.
Neither Contracting Party shall expropriate or
nationalise investments in its Area of investors of theother Contracting Party or take any measure equivalent to
expropriation or nationalisation (hereinafter referred toas “expropriation”) except:(a)for a public purpose;(b)in a non-discriminatory manner;(c)upon payment of prompt, adequate and effective
compensation pursuant to paragraphs 2, 3 and 4;
and

(d)

in accordance with due process of law and Article
5.

2.
The compensation shall be equivalent to the fairmarket value of the expropriated investments at the time
when the expropriation was publicly announced or when the
expropriation occurred, whichever is the earlier. The fairmarket value shall not reflect any change in value
occurring because the expropriation had become publicly
known earlier.
3.
The compensation shall be paid without delay and shall
include interest at a commercially reasonable rate, taking
into account the length of time until the time of payment.
It shall be effectively realisable and freely transferable
and shall be freely convertible into the currency of theContracting Party of the investors concerned, and into
freely usable currencies, at the market exchange rate
prevailing on the date of expropriation.
4.
Without prejudice to the provisions of Article 15,
the investors affected by expropriation shall have a rightof access to the courts of justice or administrative
tribunals or agencies of the Contracting Party making the
expropriation to seek a prompt review of the execution andthe amount of compensation in accordance with theprinciples set out in this Article.

- 7 -Article 11
Protection from Strife
1.
Each Contracting Party shall accord to investors of
the other Contracting Party that have suffered loss ordamage relating to their investments in the Area of theformer Contracting Party due to armed conflict or a stateof emergency such as revolution, insurrection, civil
disturbance or any other similar event in the Area ofthat former Contracting Party, treatment, as regards
restitution, indemnification, compensation or any othersettlement, that is no less favourable than that which it
accords to its own investors or to investors of a nonContracting Party, whichever is more favourable to theinvestors of the other Contracting Party.
2.
Any payment as a means of settlement referred toin paragraph 1 shall be effectively realisable, freelytransferable and freely convertible at the market exchange
rate prevailing on the date of payment into the currency of
the Contracting Party of the investors concerned or into
freely usable currencies.
Article 12
Subrogation
If a Contracting Party or its designated agency makes
a payment to any investor of that Contracting Party under
an indemnity, guarantee or insurance contract, pertaining
to an investment of such investor in the Area of the other
Contracting Party, the latter Contracting Party shallrecognise the assignment to the former Contracting Partyor its designated agency of any right or claim of suchinvestor on account of which such payment is made and shallrecognise the right of the former Contracting Party or its
designated agency to exercise by virtue of subrogation any
such right or claim to the same extent as the originalright or claim of the investor. As regards payment to bemade to that former Contracting Party or its designatedagency by virtue of such assignment of right or claim andthe transfer of such payment, the provisions of Articles
10, 11 and 13 shall apply mutatis mutandis.
Article 13
Transfers
1.
Each Contracting Party shall allow all transfers
relating to investments in its Area of an investor of theother Contracting Party to be made freely into and out of
its Area without delay. Such transfers shall include, inparticular, though not exclusively:

- 8 -

(a)

the initial capital and additional amounts tomaintain or increase investments;(b)

profits, interest, capital gains, dividends,
royalties, fees and other current incomes
accruing from investments;(c)payments made under a contract including loan
payments in connection with investments;(d)proceeds of the total or partial sale or
liquidation of investments;(e)earnings and remuneration of personnel fromabroad engaged in activities in connection withinvestments in the Area of the former Contracting
Party;(f)payments made in accordance with Articles 10 and
11; and(g)payments arising out of the settlement of adispute under Article 15.

2.
Each Contracting Party shall allow transfers referred
to in paragraph 1 to be made without delay in freely usable
currencies at the market exchange rate prevailing on thedate of the transfer.
3.
Notwithstanding paragraphs 1 and 2, a Contracting
Party may delay or prevent a transfer through theequitable, non-discriminatory and good-faith applicationof its laws and regulations relating to:(a)bankruptcy, insolvency or the protection of therights of creditors;(b)issuing, trading or dealing in securities;(c)criminal or penal offences; or(d)ensuring compliance with orders or judgments injudicial or administrative proceedings.

- 9 -Article 14
Settlement of Disputes
between the Contracting Parties
1.
Each Contracting Party shall accord sympathetic
consideration to, and shall afford adequate opportunity for
consultation regarding, such representations as the other
Contracting Party may make with respect to any matter
affecting the implementation of this Agreement.
2.
Any dispute between the Contracting Parties as to theinterpretation and application of this Agreement, notsatisfactorily adjusted by diplomacy within 6 months after
the request for consultation referred to in paragraph 1,
shall be referred for decision to an arbitration board.
Such arbitration board shall be composed of threearbitrators, with each Contracting Party appointing one
arbitrator within a period of thirty days from the dateof receipt by either Contracting Party from the other
Contracting Party of a note requesting arbitration of the
dispute, and the third arbitrator to be agreed upon as
President by the two arbitrators so chosen within a further
period of thirty days, provided that the third arbitrator
shall not be a national of either Contracting Party.
3.
If the third arbitrator is not agreed upon between
the arbitrators appointed by each Contracting Party within
the further period of thirty days referred to in paragraph
2, the Contracting Parties shall request the President of
the International Court of Justice to appoint the third
arbitrator who shall not be a national of either
Contracting Party. If the President of the International
Court of Justice is a national of either Contracting Partyor if he is otherwise prevented from discharging the saidfunction, the Vice-President of the court shall be invited
to make the necessary appointments. If the Vice-Presidentof the court is a national of either Contracting Partyor if he, too, is prevented from discharging the saidfunction, the member of the court next in seniority who is
not a national of either Contracting Party shall be invited
to make the necessary appointments.
4.
The arbitration board shall within a reasonable periodof time reach its decision by a majority of votes. Suchdecision shall be final and binding.

- 10 -

5.
Each Contracting Party shall bear the cost of thearbitrator of its choice and its representation in thearbitral proceedings. The cost of the President of thearbitration board in discharging his or her duties and theremaining costs of the arbitration board shall be borne
equally by the Contracting Parties. However, the arbitralboard may, at its discretion, direct that a higher
proportion or all of such remaining costs of thearbitration board be paid by one of the Contracting
Parties.
Article 15
Settlement of Investment Disputes
between a Contracting Party and an Investorof the Other Contracting Party
1.
For the purposes of this Article, “investment dispute”
is a dispute between a Contracting Party and an investorof the other Contracting Party that has incurred loss ordamage by reason of, or arising out of, an alleged breachof any obligation of the former Contracting Party under
this Agreement with respect to the investor of that other
Contracting Party or its investments in the Area of theformer Contracting Party.
2.
Subject to subparagraph 7(b), nothing in this Article
shall be construed so as to prevent an investor who is aparty to an investment dispute (hereinafter referred toin this Article as “disputing investor”) from seeking
administrative or judicial settlement within the Area of
the Contracting Party that is a party to the investment
dispute (hereinafter referred to in this Article as“disputing Party”).
3.
Any investment dispute shall, as far as possible,
be settled amicably through consultations between thedisputing investor and the disputing Party (hereinafterreferred to in this Article as “the disputing parties”).
4.
If the investment dispute cannot be settled throughsuch consultations within six months from the date on which
the disputing investor requested in writing the disputing
Party for consultations, the disputing investor may,subject to subparagraph 7(a), submit the investment disputeto one of the following international arbitrations:- 11 -

5.

(a)arbitration in accordance with the Convention on
the Settlement of Investment Disputes between
States and Nationals of Other States, done at
Washington, March 18, 1965 (hereinafter referred
to in this Article as “the ICSID Convention”), solong as the ICSID Convention is in force between
the Contracting Parties;(b)arbitration under the Additional Facility Rulesof the International Centre for Settlement of
Investment Disputes, provided that either
Contracting Party, but not both, is a party to
the ICSID Convention;(c)arbitration under the Arbitration Rules of theUnited Nations Commission on International Trade
Law; and(d)if agreed with the disputing Party, any
arbitration in accordance with other arbitration
rules.

(a)

Except for investment disputes regarding theobligation of the disputing Party underparagraph 3 of Article 5, each Contracting
Party hereby consents to the submission of aninvestment dispute by a disputing investor toarbitration set forth in paragraph 4 chosen by
the disputing investor.

(b)

For investment disputes regarding the obligationof the disputing Party under paragraph 3 ofArticle 5, the disputing Party may give necessaryconsent for the submission to the arbitration ona case-by-case basis.

6.
Notwithstanding paragraph 5, no investment disputes
may be submitted to arbitration set forth in paragraph 4,
if more than three years have elapsed since the date on
which the disputing investor acquired or should have firstacquired, whichever is the earlier, the knowledge that the
disputing investor had incurred loss or damage referred toin paragraph 1.

- 12 -

7.

(a)In the event that an investment dispute has been
submitted to courts of justice, administrative
tribunals or agencies or any other binding
dispute settlement mechanism established under
the laws and regulations of the disputing Party,
any arbitration set forth in paragraph 4 can besought only if the disputing investor withdraws,
in accordance with the laws and regulations of
the disputing Party, its claim from such domestic
remedies before the final decisions are madetherein.

(b)

In the event that an investment dispute has
been submitted for resolution under one of thearbitrations set forth in paragraph 4, thesame investment dispute shall not be submitted
for resolution under courts of justice,administrative tribunals or agencies or any otherbinding dispute settlement mechanism establishedunder the laws and regulations of the disputing
Party.

8.
An arbitral tribunal established under paragraph 4
shall decide the issues in dispute in accordance with thisAgreement and applicable rules of international law.
9.
The disputing Party shall deliver to the other
Contracting Party:(a)written notice of the investment disputesubmitted to the arbitration no later than thirtydays after the date on which the investment
dispute was submitted; and(b)copies of all pleadings filed in the arbitration.

10. The Contracting Party which is not the disputing Party
may, upon written notice to the disputing parties, makesubmissions to the arbitral tribunal on a question ofinterpretation of this Agreement.
11. The award rendered by the arbitral tribunal shall
include:(a)a judgment whether or not there has been a breachby the disputing Party of any obligation under
this Agreement with respect to the disputing
investor and its investments; and(b)

one or both of the following remedies, only ifthere has been such a breach:- 13 -

(i)monetary damages and applicable interest;
and

(ii)

restitution of property, in which case theaward shall provide that the disputing Party
may pay monetary damages and any applicableinterest, in lieu of restitution.

12. The disputing Party may make available to the public
in a timely manner all documents, including an award,
submitted to, or issued by, an arbitral tribunal
established under paragraph 4, subject to redaction of:(a)confidential business information;(b)

information which is privileged or otherwise
protected from disclosure under the applicablelaws and regulations of either Contracting Party;
and

(c)

information which shall be withheld pursuant to
the relevant arbitration rules.

13. Unless the disputing parties agree otherwise, thearbitration shall be held in a country that is a party to
the Convention on the Recognition and Enforcement of
Foreign Arbitral Awards, done at New York, June 10, 1958
(hereinafter referred to in this Article as “the New York
Convention”).
14. The award rendered by the arbitral tribunal shall befinal and binding upon the disputing parties. This award
shall be executed in accordance with the applicable laws
and regulations, as well as relevant international law
including the ICSID Convention and the New York Convention,
concerning the execution of award in force in the country
where such execution is sought.
Article 16
Security Exceptions
1.
Notwithstanding any other provisions in this Agreement
other than the provisions of Article 11, each Contracting
Party may take any measure:(a)which it considers necessary for the protectionof its essential security interests;(i)taken in time of war, or armed conflict, orother emergency in that Contracting Party or
in international relations; or- 14 -

(ii)(b)

relating to the implementation of national
policies or international agreements
respecting the non-proliferation of weapons;in pursuance of its obligations under the United
Nations Charter for the maintenance ofinternational peace and security.

2.
In cases where a Contracting Party takes any measure,pursuant to paragraph 1, that does not conform with the
obligations of the provisions of this Agreement other thanthe provisions of Article 11, that Contracting Party shallnot use such measure as a means of avoiding its
obligations.
Article 17
Temporary Safeguard Measures
1.
A Contracting Party may adopt or maintain measures notconforming with its obligations under Article 3 relating tocross-border capital transactions and Article 13:

2.

(a)

in the event of serious balance-of-payments andexternal financial difficulties or threat
thereof; or(b)in cases where, in exceptional circumstances,
movements of capital cause or threaten tocause serious difficulties for macroeconomic
management, in particular, monetary and exchange
rate policies.

Measures referred to in paragraph 1:(a)shall be consistent with the Articles ofAgreement of the International Monetary Fund, solong as the Contracting Party taking the measures
is a party to the said Articles;(b)

shall not exceed those necessary to deal with thecircumstances set out in paragraph 1 above;(c)

shall be temporary and shall be eliminated assoon as conditions permit;(d)shall be promptly notified to the other
Contracting Party; and(e)shall avoid unnecessary damages to thecommercial, economic and financial interests of
the other Contracting Party.

- 15 -

3.
Nothing in this Agreement shall be regarded asaltering the rights enjoyed and obligations undertaken by aContracting Party as a party to the Articles of Agreementof the International Monetary Fund.
Article 18
Prudential Measures
1.
Notwithstanding any other provisions of thisAgreement, a Contracting Party shall not be prevented
from taking measures relating to financial services forprudential reasons, including measures for the protectionof investors, depositors, policy holders or persons towhom a fiduciary duty is owed by an enterprise supplying
financial services, or to ensure the integrity andstability of its financial system.
2.
Where the measures taken by a Contracting Party
pursuant to paragraph 1 do not conform with this Agreement,
they shall not be used as a means of avoiding theobligations of the Contracting Party under this Agreement.
Article 19Intellectual Property Rights
1.
The Contracting Parties shall grant and ensure
the adequate and effective protection of intellectual
property rights, and promote efficiency and transparency
in intellectual property protection system. For thispurpose, the Contracting Parties shall promptly consult
with each other at the request of either Contracting Party.
Depending on the results of the consultation, eachContracting Party shall, in accordance with its applicablelaws and regulations, take appropriate measures to remove
the factors which are recognised as having adverse effects
to the investments of investors of the other Contracting
Party.
2.
Nothing in this Agreement shall affect the rights andobligations of the Contracting Parties under multilateralagreements in respect of protection of intellectual
property rights to which the Contracting Parties are
parties.
3.
Nothing in this Agreement shall be construed so as tooblige either Contracting Party to extend to investors of
the other Contracting Party and their investments treatment
accorded to investors of a non-Contracting Party and theirinvestments by virtue of multilateral agreements in respectof protection of intellectual property rights, to which theformer Contracting Party is a party.

- 16 -

Article 20
Taxation
1.
Nothing in this Agreement shall apply to taxation
measures except as expressly provided for in paragraphs 3
and 4 of this Article.
2.
Nothing in this Agreement shall affect the rights andobligations of either Contracting Party under any tax
convention. In the event of any inconsistency between thisAgreement and any such convention, that convention shallprevail to the extent of the inconsistency.
3.

Article 10 shall apply to taxation measures.

4.
Article 15 shall apply to disputes regarding taxation
measures to the extent covered by paragraph 3.
Article 21
Consultations
Either Contracting Party may propose to the other
Contracting Party that consultations be held to discuss any
investment-related matters including the implementation andoperation of this Agreement. The other Contracting Party
shall accord sympathetic consideration to the proposal andshall afford adequate opportunity for such consultation.
Article 22
Health, Safety and Environmental
Measures and Labour Standards
The Contracting Party shall refrain from encouraging
investment by investors of the other Contracting Party orof a non-Contracting Party by relaxing its health, safety
or environmental measures or by lowering its labour
standards. To this effect each Contracting Party should
not waive or otherwise derogate from such measures orstandards as an encouragement for the establishment,
acquisition or expansion of investments in its Area by
investors of the other Contracting Party and of a nonContracting Party.
Article 23
Denial of Benefits
1.
A Contracting Party may deny the benefits of thisAgreement to an investor of the other Contracting Party
that is an enterprise of the other Contracting Party and to
its investments if the enterprise is owned or controlled byan investor of a non-Contracting Party and the denying
Contracting Party:- 17 -

(a)does not maintain diplomatic relations with the
non-Contracting Party; or(b)adopts or maintains measures with respect to the
non-Contracting Party that prohibit transactions
with the enterprise or that would be violated or
circumvented if the benefits of this Agreement
were accorded to the enterprise or to its
investments.

2.
Subject to prior notification and consultation, aContracting Party may deny the benefits of this Agreement
to an investor of the other Contracting Party that is anenterprise of the other Contracting Party and to its
investments if the enterprise is owned or controlled by aninvestor of a non-Contracting Party and the enterprise has
no substantial business activities in the Area of the other
Contracting Party.
Article 24
Review
Upon the request of either Contracting Party, theContracting Parties shall undertake a review of thisAgreement, with a view to further promoting investment
between the Contracting Parties.
Article 25
Headings
The headings of the Articles of this Agreement are
inserted for convenience of reference only and shall notaffect the interpretation of this Agreement.
Article 26
Final Provisions
1.
This Agreement shall enter into force on the thirtieth
day after the date of exchange of diplomatic notes
informing each other that their respective legal procedures
necessary for the entry into force of this Agreement havebeen completed. It shall remain in force for a period often years after its entry into force and shall continue inforce unless terminated as provided for in paragraph 3.
2.
This Agreement shall also apply to all investments ofinvestors of either Contracting Party acquired in the Areaof the other Contracting Party in accordance with theapplicable laws and regulations of that other Contracting
Party prior to the entry into force of this Agreement.

- 18 -

3.
A Contracting Party may, by giving one year’s advancenotice in writing to the other Contracting Party, terminate
this Agreement at the end of the initial ten year period orat any time thereafter.
4.
In respect of investments acquired prior to the dateof termination of this Agreement, the provisions of thisAgreement shall continue to be effective for a period offifteen years from the date of termination of thisAgreement.
5.
This Agreement shall not apply to claims arising outof events which occurred prior to its entry into force.
IN WITNESS WHEREOF, the undersigned, being duly
authorised by their respective Governments, have signed
this Agreement.
DONE in duplicate at Tokyo, on this nineteenth day ofJune, 2015, in the Japanese, Arabic and English languages,
all the three texts being equally authentic. In case ofany divergence in interpretation, the English text shallprevail.

FOR JAPAN:

FOR THE SULTANATE OF OMAN:

中山泰秀- 19 -