Energy Charter Treaty

33 European Energy Charter the installation and operation of such networks, notably as regards the stability of electricity systems. 4. Promotion and protection of investments In order to promote the international flow of investments, the signatories will at national level provide for a stable, transparent legal framework for foreign investments, in conformity with the relevant international laws and rules on investment and trade. They affirm that it is important for the signatory States to negotiate and ratify legally binding agreements on promotion and protection of investments which ensure a high level of legal security and enable the use of investment risk guarantee schemes. Moreover, the signatories will guarantee the right to repatriate profits or other payments relating to an investment and to obtain or use the convertible currency needed. They also recognise the importance of the avoidance of double taxation to foster private investment. 5. Safety principles and guidelines Consistent with relevant major multilateral agreements, the signatories will: - implement safety principles and guidelines, designed to achieve and/or maintain high levels of safety, in particular nuclear safety and the protection of health and the environment; - develop such common safety principles and guidelines as are appropriate and/or agree to the mutual recognition of their safety principles and guidelines. 6. Research, technological development, innovation and dissemination The signatories undertake to promote exchanges of technology and Cooperation on their technological development and innovation activities in the fields of energy production, conversion, transport, distribution and the efficient and clean use of energy, in a manner consistent with nuclear non-proliferation obligations and undertakings. To this end, they will encourage cooperative efforts on: - research and development activities;