The agreement between Uzbekistan and the Czech Republic on mutual encouragement and protection of investments was signed in Prague, the Czech Republic, on 15 January 1997.

Uzbek Foreign Ministry said the Czech side proposed changes and amendments to the agreement in connection with the joining of the Czech Republic to the European Union.

The sides introduced two clauses to article three on national regime and the most favourable regime of the agreement. In line with these clauses, regulation on national regime and the most favourable regime will not be extended to benefits, granted to the sides in connection with their obligations, arising from membership in customs, economic or currency union, in general market or free trade zone or other forms of regions cooperation.

The protocol introduces new article 11 on main interests of the security. In line with the article, any clauses of the agreement cannot be considered as barrier for adoption of measures or decisions on protection of main interests of their security.

Mr. Milan Hovorka, Vice Minister of Industry and Trade of the Czech Republic, said the signing of the protocol is significant step forward in relations of two states.