PROCLAMATION 7449-^JUNE 8, 2001 115 STAT. 2777 The Panics agree to eliminate all TRIMs (including those contained in laws, regulations, contracts or licenses) which fall under sub-paragraphs 2(A)(trade balancing requirements) and 2(B)(foreign exchange controls on imports) of the List by the time this Agreement enters into force. Vietnam shall diminate all other TRIMs no later than five years after the date of entry into force of the Agreement, or the date required under the terms and conditions of Vietnain's accession to the WTO, whichever occurs 6rst. Article 12 Application to State Entcfprises A Party's obligations shall apply to a state enterprise in the exercise of any regulatory, administrative or other governmental authority delegated to it by that Party. Article 13 Future Negotiation of Bilateral Investment Treaty The Parties will endeavor to negotiate a bilateral investment treaty in good faith within a reasonable period oftime Article 14 Application to Covered Investments The provisions of this Chapter, Annex H, the exchanged letters on Investment Licensing Regime, and Articles 1 and A ofChapter VII shall apply to covered investments existing atthe time of entry into force as well as to those established or acquired thereafter. Article IS Denial of Benefits Each Party reserves the right to deny to a company of the other Party the benefits of this Chapter and Chapter V of this Agreement if nationals of a third country own or control the company and 1 the denying Party docs not maintain normal economic relations with the third country; or 2 the company has no substantial business activities in the territory of the Party under whose laws it is constituted or organized ^ i.v
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