On signing the Agreement between the Government of the Republic of Kazakhstan and the Government of the Republic of Indonesia on Mutual Promotion and Protection of Investments

Resolution of the Government of the Republic of Kazakhstan dated May 29, 2026 No. 441

THE Government of the Republic of Kazakhstan DECIDES:

     To approve the attached draft Agreement between the Government of the Republic of Kazakhstan and the Government of the Republic of Indonesia on mutual Promotion and Protection of Investments.

     On behalf of the Government of the Republic of Kazakhstan, Yermek Kosherbayev, Minister of Foreign Affairs of the Republic of Kazakhstan, signed an agreement between the Government of the Republic of Kazakhstan and the Government of the Republic of Indonesia on Mutual Promotion and Protection of Investments, authorizing amendments and additions that are not fundamental.

     This resolution shall enter into force from the date of its signing.

The Prime Minister of the Republic of Kazakhstan

O. Bektenov

Approved by the Resolution of the Government of the Republic of Kazakhstan dated 2026 No.

Project

Agreement between the Government of the Republic of Kazakhstan and the Government of the Republic of Indonesia on Mutual Promotion and Protection of Investments

The preamble

     The Government of the Republic of Kazakhstan and the Government of the Republic of Indonesia (hereinafter collectively referred to as the "Parties" or separately as the "Party"),

     Striving to create favorable conditions for the expansion of economic cooperation between the Parties and, in particular, for investments by investors of one State in the territory of another State based on the principles of equality and mutual benefit;

     Recognizing the important contribution that investments can make to sustainable development, and striving to promote and facilitate such investments in the territories of the Parties;

     Recognizing that the promotion and mutual protection of such investments can stimulate business initiative, facilitate the flow of capital and technology, and accelerate economic development and prosperity in both countries;

     Reaffirming the right of the Parties to regulate and introduce new measures related to investments in their territories in order to achieve legitimate political goals,

     We have agreed on the following:

Chapter I

Definitions and scope of application

Article 1

Definitions

     For the purposes of this Agreement:

     "Enterprise" means any legal entity established or organized in accordance with the applicable laws of the State of the Party, located and carrying out its main business activities in the territory of the State of the host Party, regardless of whether it is privately or publicly owned or managed, including a corporation, trust, partnership, joint venture, association or a similar organization and a branch of such an enterprise.

     For greater certainty, the company:

     a) is "owned" by the investor if the investor is the beneficial owner of more than 50 (fifty) percent of its share capital; and

     b) is "managed" by the investor if the investor has the authority to appoint a majority of directors or otherwise legally direct actions or decisions.;

     "Freely usable currency" means a concept defined by the International Monetary Fund in accordance with its Articles of Agreement on the International Monetary Fund and any amendments thereto.;

     "ICSID" means the International Center for Settlement of Investment Disputes;

     The "Rules of the Additional Mechanism" of ICSID means the Rules Governing the Additional Mechanism for Conducting the Litigation process by the Secretariat of the International Center for Settlement of Investment Disputes, as amended, which entered into force on April 10, 2006;

     "ICSID Arbitration Rules" means the Rules of Arbitration (Arbitration Rules) as amended, which entered into force on April 10, 2006;

     "ICSID Convention" means the Convention on the Settlement of Investment Disputes between States and Nationals of Other States, concluded in Washington on March 18, 1965;

     "Investment" means any type of asset owned or under the direct or indirect control of an investor and having the characteristics of an investment, such as investing capital, expecting profit or income, taking on risk, a certain period of time, and contributing to sustainable development. The forms that investments can take include, but are not limited to:

     a) shares, units and other forms of equity participation in the enterprise, including the rights arising from them;

     b) bonds, debentures and loans, and other debt instruments, including the rights arising from them, with the exception of a loan provided by one Party to another Party;

     For the purposes of this Agreement, "loans and other debt instruments" described in subparagraph (b) of this article and "monetary claims or claims for the performance of any contractual obligations" described in subparagraph (d) of this article mean assets related to commercial activities and do not mean assets of a personal nature that are not related to any commercial activity.

     A loan given by one Party to another Party is not an investment.

     c) turnkey contracts, for construction, management, production, concessions, revenue sharing and other similar contracts;

     d) monetary claims or demands for any performance of contractual obligations related to commerce and, according to the contract, representing economic value;

     e) intellectual property rights granted in accordance with the laws and regulations of the Party in which the investment is located;

     (f) Licenses, permits, permits and similar rights granted under applicable local law, including any concessions for the exploration, development, extraction or exploitation of natural resources; and

     Whether a particular type of license, permit, permit, or similar instrument (including a concession to the extent that it has the nature of such an instrument) has the characteristics of an investment depends on factors such as the nature and extent of the rights that the licensor holds under the laws of the Party. Such instruments that do not have the characteristics of an investment include those that do not provide for any rights protected by the legislation of the Party. For greater certainty, the above does not affect whether any asset associated with such instruments has the characteristics of an investment.

     (g) Any other tangible or intangible, movable or immovable property and related property rights such as mortgages, liens and liens.

     For greater certainty, if an asset does not have the characteristics of an investment, then such an asset is not an investment, regardless of its form.

     The term "investment" does not include an order or decision made during judicial or administrative proceedings, or an arbitral award made during arbitration proceedings.

     For the purposes of defining the term "investment", the income that is invested is considered as an investment and any change in the forms in which assets are invested or reinvested does not affect their character as an investment.

     "Investor" means:

     (a) The Party's enterprise; or

     b) an individual who is a national of the State of either Party;

     who have made investments in the host State;

     "Local enterprise" means an enterprise owned and operated by an investor of one Party, established in the territory of the other Party;

     "Measure" means any measure taken by a Party, whether in the form of a law, regulation, rules, procedure, decision, administrative action or in any other form, and includes measures taken by:

     (a) The central, regional or local Government and public authorities; and

     b) non-governmental bodies in the exercise of powers delegated by the central, regional or local government, or public authorities;

     "National legislation" means the laws, regulations, rules, procedures of the States of the Parties;

     "New York Convention" means the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, adopted by the United Nations in New York on June 10, 1958;

     "Income" means the amount earned as a result of an investment, including, but not limited to, any profits, interest, capital gains, dividends, royalties or commissions.;

     "Territory" means:

     (a) With respect to the Republic of Kazakhstan, the territory of the Republic of Kazakhstan within its land, sea and air borders, including land, waters, subsoil and airspace, in respect of which the Republic of Kazakhstan exercises sovereignty and extends jurisdiction in accordance with its national legislation and international law; and

     (b) In respect of the Republic of Indonesia: land territories, inland waters, archipelagic waters, territorial sea, including the seabed and its subsoil, and airspace over such territories and waters, as well as the contiguous zone, continental shelf and exclusive economic zone over which Indonesia has sovereignty, sovereign rights or jurisdiction, as defined in its laws and in accordance with international law, including the United Nations Convention on the Law of the Sea, concluded in Montego Bay on December 10, 1982;

     "UNCITRAL Arbitration Rules" means the Arbitration Rules of the United Nations Commission on International Trade Law, adopted by the United Nations General Assembly on 15 December 1976; and

     "WTO Agreement" means the Marrakesh Agreement Establishing the World Trade Organization, concluded in Marrakesh on April 15, 1994.

Article 2

Scope of the Agreement

If, in accordance with the national legislation of a Party, a special written authorization is required for an investment, that Party shall take all reasonable measures to ensure transparency, fairness and efficiency in reviewing the application. These measures include:

     (a) Ensuring that information about the competent authority of that Party and its approval processes is published or otherwise provided;

     (b) In the case of an application for approval in writing, notify the applicant in writing of any additional information required and the results of the examination of the application; and

     c) in case of rejection of the application, notify the applicant in writing of the reasons for the refusal. If the application is rejected, the applicant is given the opportunity to submit, at the discretion of the applicant, a new application.

     2. The provisions of this Agreement shall not apply to claims arising from events that have occurred or claims that were filed prior to the entry into force of this Agreement.

     For greater certainty, this Agreement does not bind a Party to obligations with respect to an action or fact that occurred, or a situation that ceased to exist before the date of entry into force of this Agreement for that Party.

     3. This Agreement does not apply to:

     (a) Subsidies or grants provided by a Party, including loans, guarantees and insurance received with the support of the Government, or any conditions related to the receipt or continuous receipt of such subsidies or grants, regardless of whether such subsidies or grants are offered exclusively to investors of the Party or investments of investors of the Party;

     b) Public procurement;

     (c) Services provided in the exercise of public authority;

     d) Taxation issues.

     For more clarity:

     (i) nothing in this Agreement affects the rights and obligations of the Parties under any tax convention. In the event of any discrepancy between this Agreement and any such tax convention, this convention shall prevail in respect of such discrepancy.

     In the case of a tax convention between the Parties, the competent authorities, in accordance with this convention, are solely responsible for determining whether there is any discrepancy between this Agreement and this convention.;

     (ii) tax convention means the Convention for the avoidance of double taxation or any other international tax agreement or arrangement to which Kazakhstan or Indonesia are parties; and

     e) monetary claims arising solely from:

     (i) commercial contracts for the sale of goods or services, the internal financing of such contracts; or

     (ii) providing a loan in connection with such commercial contracts.

Chapter II

Protection

Article 3

Investment regime

     1. Each Party in its territory shall provide investments and investors of the other Party with fair and equitable treatment, full protection and security in respect of their investments in accordance with this article.

     2. A Party violates the obligation to provide fair and equitable treatment specified in paragraph 1 of this article through measures or a series of measures that constitute:

     (a) Denial of justice in criminal, civil or administrative proceedings;

     (b) Fundamental disregard for due process, including a significant violation of transparency in judicial and administrative procedures;

     c) sheer arbitrariness;

     (d) Targeted discrimination based on clearly unlawful grounds such as gender, race or religious beliefs; or

     (e) Mistreatment, such as harassment, coercion, abuse of power, or acts of corruption.

     3. At the request of the Party, the Parties shall review the content of the obligation to ensure fair and equitable treatment in accordance with the amendment procedure set out in Article 45 (entry into force, term and termination) of this Agreement, in particular with regard to whether a regime other than that listed in paragraph 2 of this Article may also constitute a violation of the obligation to ensure fair and equitable treatment.

     4. Full protection and security require each Party to take such measures as may be reasonably necessary to ensure the protection and security of investments.

     5. The mere fact that a Party takes or does not take actions that may not meet the investor's expectations does not constitute a violation of this article, even if damage or losses are caused as a result of the investment.

     6. The discovery of a violation of another provision of this Agreement or any other international agreement does not in itself mean that there has been a violation of this article.

Article 4

National regime

     1. Each Party shall provide investors and investments of the other Party with treatment no less favorable than that which it provides in similar circumstances to its investors and investments in its territory with respect to the management, management, operation, sale or other disposal of investments.

     For the sake of greater certainty, this article does not apply to any measures of a Party related to the alienation of investments in specific sectors, if foreign investors were aware on the date or at the time of registration of their investments that their investments would be alienated in the future in accordance with the national legislation of that Party.

     2. Whether the regime is granted in "similar circumstances" depends on the totality of circumstances. Such circumstances include, in particular, whether the relevant regime distinguishes between investments based on legitimate public welfare objectives, and, where appropriate, the competitive environment in the relevant economic or business sectors and the applicable regulatory framework.

     For greater certainty, whether treatment is provided in "similar circumstances" in accordance with article 4 (National treatment) and article 5 (Most-favored-nation treatment) of this Agreement depends on the totality of circumstances, including whether the relevant regime distinguishes between investments based on legitimate public welfare objectives.

Article 5

Most-favored-nation regime

     1. Each Party shall provide investors and investments of the other Party with treatment no less favorable than that which it provides in similar circumstances to investors and investments in its territory of any non-Party country with respect to the management, maintenance, use, maintenance, operation, sale, sale or other disposal of investments.

     2. The provisions of this Article shall not be interpreted as obliging a Party to extend to investors of the other Party and investments of investors of the other Party the benefits of any regime, preferences or privileges arising from:

     a) any existing or future customs union, free trade area, free trade agreement, common market, monetary union or similar international agreement, or other form of regional cooperation or regional economic community to which either Party is or may become a party; or acceptance of an agreement designed to lead to the formation or expansion of such union, territory, or agreement;

     (b) Any existing bilateral investment agreements (also commonly referred to as "investment guarantee agreements", "investment promotion and protection agreements" or "international investment agreements") that were initialed, signed or entered into force prior to the entry into force of this Agreement, including any subsequent revisions or amendments to these agreements.

     For greater certainty, "bilateral investment agreements" include any subsequent revisions or amendments to these agreements.

     (c) Any arrangement with a non-Party or parties located in the same geographical region aimed at facilitating regional cooperation in the economic, social, labor, industrial or monetary fields within the framework of specific projects; or

     (d) Existing or future agreements for the avoidance of double taxation or any other tax conventions.

     3. For greater certainty, paragraphs 1 and 2 of this article should not apply to international dispute settlement procedures or mechanisms in other international agreements and should be interpreted as providing investors with dispute settlement procedures or mechanisms other than those set out in section 1 (dispute settlement between a Party and an investor of the other Party) of chapter III (dispute settlement) of this Agreement. Agreements.

     4. For greater certainty, the main obligations under other international investment treaties or other trade agreements do not in themselves constitute a "regime" and, therefore, cannot lead to a violation of this Article, provided that the Party has not taken or does not support any measures in accordance with such obligations.

Article 6

Expropriation and compensation

     1. Neither Party shall nationalize or expropriate investments directly or indirectly through measures having consequences equivalent to expropriation or nationalization, except in cases where such measures are implemented:

     a) for a public purpose;

     (b) In a non-discriminatory manner;

     (c) Subject to timely, proportionate and effective compensation; and

     (d) In accordance with due process of law.

     2. The compensation referred to in subparagraph (c) of paragraph 1 of this article shall be:

a) be paid without undue delay. The Parties understand that there may be legal and administrative procedures that must be followed before making a payment.;

     b) be equivalent to the fair market value of the expropriated investment immediately before expropriation or before the impending expropriation becomes known to the public, or at the time of expropriation, whichever is earlier.;

     c) not to reflect any changes in value, due to the fact that the alleged expropriation became known earlier;

     d) be effectively implemented, freely used and freely transferred between the territories of the Parties in accordance with Article 8 (payments) of this Agreement.

     3. Any expropriation or valuation measure may, at the request of the affected investors, be considered by a judicial or other independent body of the Party taking the measures, in accordance with the procedure established by its national legislation.

     4. The amount of compensation referred to in subparagraph (c) of paragraph 1 of this article shall include appropriate interest. Compensation, including any accrued interest, is paid either in the expropriating Party's currency or, at the investor's request, in a freely usable currency.

     5. If the investor requests payment in a freely usable currency, the compensation referred to in subparagraph (c) of paragraph 1 of this article, including any accrued interest, shall be converted into the payment currency at the market exchange rate in effect on the payment date.

     6. This article does not apply to the issuance of compulsory licenses granted in respect of intellectual property rights in accordance with the TRIPS Agreement, as well as to the revocation, restriction or creation of intellectual property rights to the extent that the issuance, revocation, restriction or creation is consistent with the TRIPS Agreement in Annex 1C to the WTO Agreement. For the sake of greater certainty, the Parties recognize that for the purposes of this article, the term "revocation" of intellectual property rights includes the revocation of these rights, and the term "limitation" of intellectual property rights includes exceptions to these rights.

     7. Non-discriminatory legal measures designed and applied to protect legitimate public welfare goals such as public health, safety, and the environment do not constitute expropriation.

     8. This article shall be interpreted in accordance with Annex I (expropriation) of this Agreement.

Article 7

Compensation for losses

     1. Investors of a Party who have suffered losses related to investments in the territory of the other Party as a result of war or other armed conflict, civil unrest, state of emergency, uprising, mutiny, riot or other similar situations in the territory of the latter Party will be provided with no less favorable treatment by the State of the other Party with respect to restitution, compensation for losses, compensation or other settlement. Any compensation received must be made in a freely usable currency and can be freely transferred in accordance with Article 8 (payments) of this Agreement.

     2. Notwithstanding paragraph 1 of this Article, if an investor of a Party in the situations specified in paragraph 1 of this Article suffers losses in the territory of the other Party as a result of:

     (a) The requisition of investments or part of them from the investor by the forces or authorities of the latter Party; or

     b) the destruction of the investor's investments or part of such investments by the forces or authorities of the latter Party, which was not required by the necessity of the situation, the latter Party must provide the investor with restitution, compensation or both, depending on the circumstances, for such losses in accordance with Article 6 (expropriation and compensation) of this Agreement.

Article 8

Payments

     1. With the exception of the cases provided for in Article 9 (restrictions for the protection of the balance of payments) of this Agreement, each Party in whose territory investments of investors of the other Party have been invested, after fulfilling all tax and other obligations in accordance with its national legislation, shall allow investors of the other Party any transfers and payments related to investments to its the territory or beyond its borders. Such payments and transfers include, among other things:

     a) investments in capital;

     b) income;

     c) income from partial or complete sale of investments, income from partial or complete liquidation of investments;

     d) payments in accordance with contracts, including loan agreements;

     (e) Salaries and other remuneration of personnel employed abroad and working in the territory of the Party in which the investors' investments were made; and

     (f) Payments pursuant to article 6 (expropriation and compensation), article 7 (compensation for losses) and articles 1 (settlement of disputes between a Party and an investor of the other Party) of chapter III (settlement of disputes) of this Agreement.

     2. Transfers and payments referred to in paragraph 1 of this article shall be carried out without undue delay and restrictions in a freely usable currency at the market exchange rate in effect on the day of transfer or payment.

     3. Without prejudice to the provisions of paragraphs 1 and 2 of this Article, a Party may prevent a payment or transfer by applying its national legislation concerning:

     a) bankruptcy, insolvency or protection of creditors' rights;

     b) compliance with labor obligations;

     c) issues, transactions or transactions with securities or derivatives (derivative financial instruments);

     (d) Assistance to law enforcement or financial regulatory authorities;

     (e) Criminal offences;

     f) taxes or taxation;

     (g) Ensuring compliance with the orders or decisions of judicial, administrative or arbitration proceedings;

     (h) Compliance with social security and pension obligations;

     (i) Countering the legalization (concealment) of proceeds from crime, the financing of terrorism, and the financing of the proliferation of weapons of mass destruction; or

     j) financial reporting or accounting of transfers, when necessary to assist law enforcement or financial regulatory authorities.

     4. Nothing in this Agreement shall affect the rights and obligations of members of the International Monetary Fund in accordance with the articles of the Agreement on the International Monetary Fund, including the use of foreign exchange transactions that are compatible with the articles of the Agreement on the International Monetary Fund, provided that the Party does not impose restrictions on any capital transactions incompatible with its obligations. in accordance with this Agreement concerning such operations, except in the following cases:, referred to in Article 9 (restrictions for the protection of the balance of payments) of this Agreement or at the request of the International Monetary Fund.

Article 9

Restrictions to protect the balance of payments

     1. In cases of serious balance of payments and external financial difficulties or threats of their occurrence, or when, in exceptional circumstances, capital movements cause or threaten to cause serious difficulties for macroeconomic management, in particular monetary and monetary policy, a Party may adopt or maintain restrictions on payments, transfers or capital movements related to investments. It is recognized that particular pressure on the balance of payments of a Party in the process of economic development may require the use of restrictions to ensure, in particular, the maintenance of sufficient financial reserves for the implementation of its economic development program.

     2. Any measures adopted or maintained in accordance with paragraph 1 of this article must:

     a) comply with the articles of Agreement of the International Monetary Fund;

     b) should avoid causing unnecessary damage to the commercial, economic and financial interests of investors of the other Party;

     (c) Must not exceed the limits of necessity in the circumstances set out in paragraph 1 of this article.;

     (d) Should be temporary and gradually eliminated as the situation referred to in paragraph 1 of this article improves.;

     (e) Be applied on a non-discriminatory basis.

     3. Any restrictions established or maintained in accordance with paragraph 1 of this Article, or any changes to them, must be immediately notified to the other Party.

     4. A Party accepting any restrictions in accordance with paragraph 1 of this Article shall immediately agree to a request from the other Party for consultations with a view to reviewing the restrictions it has accepted, unless such consultations are conducted in another way outside the framework of this Agreement.

     5. In determining the scope of such restrictions, the Contracting Parties may give preference to the sectors of the economy that are more important for their economic or development programs. However, such restrictions are permissible only in cases of a threat to the balance of payments and should not be used to protect certain sectors of the economy at other times.

Article 10

Subrogation

1. If either Party (or any agency, institution, authorized body, or corporation designated by it), as a result of the non-commercial risk compensation provided by it in respect of the investment or any part thereof, makes a payment to its own investors in respect of any of their claims under this Agreement, the other Party acknowledges that the Party making the Payment payment to its own investors (or any agency, institution, authorized body or corporation appointed by it) has the right, by virtue of subrogation, to exercise the rights and make demands of its investors. The rights and claims obtained as a result of subrogation must not exceed the original rights or claims of such an investor.

     However, this does not necessarily imply that the other Party recognizes the merits of any case or the amount of any claims arising from it.

     2. If one of the Parties (or any agency, institution, authorized body or corporation appointed by it) has made a payment to an investor of this Party and assumed the rights and claims of the investor, this investor should not, unless he is authorized to act on behalf of the Party making the payment (or any agency, institution authorized by the body or corporation appointed by it), defend these rights and make demands on the other Party.

Article 11

The right of regulation

     1. Nothing in this Agreement affects the right of the Parties to regulate in their respective territories in order to achieve legitimate policy objectives such as the protection of public health, safety, the environment or public morals, social protection or consumer protection, or the promotion and protection of cultural diversity.

     2. Each Party reserves the right, in accordance with its national legislation, to identify sensitive sectors of the economy or relevant activities that may be restricted or excluded.

     For greater certainty, the very fact that a Party regulates, including by changing its applicable law, in a way that negatively affects investments or affects the investor's expectations, including his expectations for profits, does not constitute a violation of the obligation under this Agreement.

Article 12

Compliance with national laws and regulations

     Without prejudice to this Agreement, the investor of the Party and his investment must comply with all laws and regulations of the other Party where the investment is located with respect to the establishment, acquisition, expansion, management, operation, sale and disposal or other disposition of such investment.

Article 13

Corporate social responsibility

     Each Party confirms the importance of encouraging enterprises operating on its territory to voluntarily incorporate into their internal policies those internationally recognized standards, guidelines and principles of corporate social responsibility that have been approved or supported by that Party.

Article 14

Measures against corruption

     1. The Parties confirm that bribery and other forms of corruption in any investment activity can undermine democracy and the rule of law, hinder foreign investment and negatively affect the economic development of the Parties.

     2. Nothing in this Agreement prevents a Party from taking measures to prevent and combat bribery and other forms of corruption in any investment activity on its territory, provided that such measures do not contradict this Agreement.

     3. An investor of a Party and his investments must not, prior to making an investment in the territory of the other Party or thereafter, offer, promise or provide, directly or through intermediaries, any unlawful property or other advantage to an official of the other Party, in favor of such official or a third party, so that this official or a third party commits an act or omission when performing their official duties in order to obtain any benefit in relation to investments.

     4. An investor of a Party and his investments in the territory of the other Party must not be involved in any action described in paragraph 1 of this Article, including incitement, aiding and abetting, as well as conspiracy to commit or approve such actions.

Chapter III Dispute resolution

Section 1

Settlement of disputes between a party and an investor of the other party

Article 15

Scope and basic principles

     1. This section applies to disputes between a Party (hereinafter referred to as the "Party to the dispute") and an investor of the other Party (hereinafter referred to as the "investor involved in the dispute") regarding an alleged violation by a Party of an obligation under this Agreement that causes loss or damage to the investor or his investment (hereinafter referred to as the "investment dispute"). In the event of an investment dispute, the Parties to the dispute should seek to resolve the dispute in order to reach an amicable agreement.

     2. For greater certainty, the objections that a Party to the dispute may raise in any proceeding under this section include, but are not limited to, objections on the grounds that the investment was made, committed, acquired, or committed through deliberate deception, concealment, corruption, or conduct amounting to abuse of procedural authority.

     3. This section does not apply to investment disputes that arose prior to the effective date of this Agreement.

     4. An individual who is a national of a Party may not file a claim against that Party in accordance with this section.

     A Party's enterprise and its subsidiaries may not file a claim against the other Party in accordance with this section if the legal entity is owned or operated by an investor of a Party not participating in the Agreement and such other Party does not maintain diplomatic relations with a non-Party country.

Article 16

Consultations

     1. The parties to the dispute should initially seek to resolve the investment dispute through consultations and negotiations ("consultations"), which may include the use of non-binding third-party procedures such as good offices, conciliation and mediation. Such consultations are initiated by a written request for consultations sent by the investor participating in the dispute to the Party to the dispute.

     2. In order to resolve an investment dispute through consultations, a written request for consultations must contain information on the legal and factual grounds of the investment dispute, including the name and address of the investor involved in the dispute, the provisions of this Agreement that are alleged to have been violated, the assistance requested and the estimated amount of damages claimed, as well as evidence confirming that the investor The participant in the dispute is an investor of the other Party and owns or manages the investments.

     3. Consultations shall begin within 30 (thirty) days from the date of receipt by the Party to the Dispute of a written request for consultations, unless the parties to the dispute agree otherwise. The place of consultations is Jakarta, Indonesia, if Indonesia is a Party to the dispute, or Astana, if Kazakhstan is a Party to the dispute.

Article 17

Mediation

     1. If the dispute cannot be resolved within 180 days from the date of receipt by the Party to the Dispute of a written request for consultation, the Party to the dispute may initiate a mediation process, which is mandatory for the investor involved in the dispute, in order to reach an amicable agreement. Such mediation process is initiated by a written request sent by the Party to the dispute to the investor involved in the dispute.

     2. The mediation process in accordance with this Article may be initiated only by a written request sent by the Party to the dispute within 180 days from the date of receipt by the Party to the dispute of the written request for consultations.

     3. The parties to the dispute shall bear the costs incurred in connection with the mediation process equally. Each party to the dispute shall bear its own legal costs.

Article 18

Filing a claim

     1. If the investment dispute cannot be resolved within one year from the date of sending a written request for consultations in accordance with article 16 (consultations) of this Agreement, the investor involved in the dispute may file a claim in one of the following forums:

     a) arbitration in accordance with the ICSID Convention and the ICSID Arbitration Rules, provided that both the Party to the dispute and the Party of the Investor involved in the dispute are parties to the ICSID Convention;

     b) arbitration in accordance with the additional ICSID Rules, provided that either the Party to the dispute or the Party of the Investor involved in the dispute is a party to the ICSID Convention;

     (c) Arbitration in accordance with the UNCITRAL Arbitration Rules; or

     (d) Any other arbitration institution or the national courts of the States of the Parties, provided that the national courts have jurisdiction over such dispute or in accordance with any other rules of arbitration, if the parties to the dispute so agree,

     provided that recourse to any arbitration rules or forums in accordance with sub-paragraphs (a) to (d) of this article precludes recourse to others.

     For the avoidance of doubt, the investor involved in the dispute may file a claim on his own behalf for losses or damages incurred by the investor involved in the dispute, or on behalf of the company of the Party to the dispute, which is owned or managed by the investor involved in the dispute, directly or indirectly for losses or damages incurred by the company.

     2. Each Party hereby agrees to submit the investment dispute to arbitration in accordance with paragraph 1 of this article in accordance with the provisions of this section, provided that:

a) the transfer of the dispute to such arbitration took place within three years from the moment when the investor participating in the dispute learned or should have reasonably learned of a violation of an obligation under this Agreement that caused loss or damage to the investor participating in the dispute or his investments;

     b) the investor involved in the dispute gives written consent to arbitration in accordance with the provisions set out in this section.;

     (c) The legal and factual basis of the dispute was the subject of prior consultation or conciliation in accordance with article 16 (consultation) or article 17 (mediation) of this Agreement, respectively;

     d) the investor participating in the dispute sends a written notification, which must be sent at least 90 (ninety) days before the filing of the claim, to the Party to the dispute about his intention to submit the dispute to such arbitration in which:

     (i) indicate the name and address of the disputing investor and, if the dispute is filed on behalf of the enterprise, the name, address and place of establishment of the enterprise;

     (ii) one of the forums referred to in paragraph 1 of this article is proposed as a dispute settlement forum;

     (iii) the investor participating in the dispute waives the right to initiate or continue any proceedings in any of the other dispute settlement forums referred to in paragraph 1 of this article with respect to the subject matter of the dispute.;

     (iv) if a dispute is submitted on behalf of a local enterprise, the enterprise shall waive in writing its right to initiate or continue any proceedings in any of the other dispute settlement forums referred to in paragraph 1 of this article with respect to the subject matter of the dispute.;

     (v) summarizes the alleged violation by the Party to the dispute of this Agreement (including the provisions that are alleged to have been violated), the legal and factual basis for the dispute, and the loss or damage allegedly caused to the investor involved in the dispute or his investments as a result of this violation; and

     e) there is no final decision regarding the same regime, which allegedly violates the provisions of chapter II (protection) of this Agreement, rendered in a claim filed by an investor participating in the dispute in another international arbitration established in accordance with this section or any other agreement.

     3. Notwithstanding subparagraph (iii) of paragraph 2 (d) of this article, an investor participating in a dispute should not be prevented from filing or continuing a claim aimed at taking temporary protective measures for the sole purpose of preserving the rights and interests of the investor participating in the dispute and not related to the payment of damages or settlement of the subject matter. dispute in the courts or administrative arbitrations of the Parties to the dispute.

     4. For the purposes of subparagraph (e) of paragraph 2 of this article, the term "investor involved in a dispute" means an investor and, where appropriate, a local enterprise, and also includes all persons who directly or indirectly own or manage an interest in that investor or, where appropriate, a local enterprise.

     5. Consent in accordance with paragraph 2 of this article and the filing of a claim to arbitration in accordance with this section must meet the requirements:

     (a) Chapter II of the ICSID Convention (jurisdiction of the Center) and the ICSID Supplementary Rules for obtaining written Consent from the Parties to the Dispute; and

     (b) Article II of the New York Convention on "written agreement".

     6. A claim submitted to arbitration in accordance with this section shall be deemed to have arisen from a commercial relationship or transaction for the purposes of article I of the New York Convention.

Article 19

Third-party financing

     1. Any party to the dispute receiving financing from a third party must notify the other party to the dispute and the arbitration of the name and address of the third party.

     2. Such notification must be made at the time of filing the claim or immediately, as soon as third-party financing is agreed, transferred or provided, depending on the circumstances.

     3. If the parties to the dispute do not disclose information about the financing by a third party in accordance with this article, the arbitral tribunal may consider the conduct of the parties to the dispute as a factor in the allocation of costs or order the suspension or termination of the proceedings.

     "Third Party financing" means any financing provided by a natural or legal person who is not a party to the dispute, but who enters into an agreement with the Party to the dispute in order to partially or fully finance the costs of conducting the proceedings in exchange for remuneration depending on the outcome of the dispute, or in the form of a donation or grant.

Article 20

The composition of the arbitration

     1. Unless otherwise agreed by the parties to the dispute, the arbitration shall consist of three arbitrators who shall not be nationals of States or permanent residents of either Party. Each party to the dispute appoints one arbitrator, and the parties to the dispute agree on a third arbitrator, who is the chairman of the arbitration. The chairman of the arbitration must be a citizen of a State that is not a Party that has diplomatic relations with the Party to the dispute and the Party that is not a Party to the dispute. If the arbitration has not been formed within 150 days from the date of filing the claim to arbitration, either because the party to the dispute has not appointed an arbitrator or because the parties to the dispute have not agreed on a chairman, the ICSID Secretary General, at the request of either party to the dispute, appoints, at his discretion, an arbitrator or arbitrators who have not yet been appointed. If the Secretary General is a citizen or permanent resident of either Party, or he or she is unable to act for other reasons, the Deputy Secretary General of ICSID, who is not a citizen or permanent resident of either Party, may be invited to make the necessary appointment.

     2. Arbitrators must have experience or knowledge in the field of public international law. It is desirable that they have experience, in particular, in the field of international investment law, international trade law, or dispute resolution arising from international investment or international trade agreements. Arbitrators must be independent of the Parties and the investor involved in the dispute, and must not be affiliated with any of them or receive instructions from them.

     3. The parties to the dispute may establish rules regarding the costs incurred by the arbitration, including the remuneration of the arbitrators.

     4. If any arbitrator appointed in accordance with the provisions of this article refuses or is unable to perform his functions, the successor in title shall be appointed in the same manner as determined for the appointment of the original arbitrator, and the successor in title shall be entrusted with all the powers and duties of the original arbitrator.

     5. Arbitrators appointed in accordance with this section must comply with Annex II (Code of Conduct for Arbitrators and Mediators) of this Agreement.

Article 21

Applicable law and joint interpretation

     1. Subject to paragraphs 2 and 3 of this article, when a claim is filed in accordance with article 18 (filing of a claim) of this Agreement, arbitration shall resolve the disputed issues in accordance with this Agreement, any other applicable agreements between the Parties and applicable international law.

     2. The arbitral tribunal may, on its own initiative or at the request of a Party to the dispute, request a joint interpretation of any provision of this Agreement that is the subject of the dispute. The parties must submit in writing any joint decision setting out their interpretation to the arbitral tribunal within 60 (sixty) days of receipt of the request. For the avoidance of doubt, the Parties may also, on their own initiative, adopt joint interpretations of the provisions of this Agreement.

     3. A joint decision of the Parties on the interpretation of the provisions of this Agreement is binding on the arbitration, and any order or decision made by the arbitration must comply with this joint decision.

Article 22

Place of arbitration

     Unless otherwise agreed by the parties to the dispute, the arbitral tribunal shall determine the place of arbitration in accordance with the applicable rules of arbitration, provided that this place is located on the territory of a State party to the New York Convention and outside the territory of the Parties.

Article 23

Arbitration proceedings

     1. Without prejudice to the authority of the arbitral tribunal to consider other objections as a preliminary issue, such as the objection that the dispute does not fall within the jurisdiction of the arbitral tribunal, the arbitral tribunal, before proceeding to consider the case on its merits, considers and resolves as a preliminary issue any objection by a Party to the dispute that, from the point of view of the law, the filed claim is not is a claim that may be decided in favor of the investor involved in the dispute, in accordance with article 25 (decisions) of this Agreement., or that the claim is unfounded or manifestly baseless, even if the facts alleged in the claim are true. The arbitration may also consider any relevant facts that are not the subject of the dispute. The party to the dispute should specify the basis for the objection as accurately as possible.

     a) Such an objection must be submitted to the arbitral tribunal as soon as possible after the formation of the arbitral tribunal, and in no case later than the date set by the arbitral tribunal for the Party to the dispute to submit its counter-memorial (or, in the case of an amendment to the notice of arbitration, the date that the arbitral tribunal sets for the Party to the dispute to submit its response to the amendment).

(b) Upon receipt of an objection in accordance with this paragraph, the arbitral tribunal shall suspend any substantive proceedings, establish a schedule for the consideration of the objection corresponding to any schedule it has established for the consideration of any other preliminary matter, and render a decision or ruling on the objection, indicating the grounds for this. The parties to the dispute should be given a reasonable opportunity to present their views and comments to the arbitral tribunal.

     c) A Party to the dispute does not waive any objections to competence or any substantive arguments just because the Party to the dispute has raised or has not raised an objection in accordance with this paragraph or has not used the expedited procedure set out in paragraph 2 of this article. For greater certainty, such objections or arguments may be raised at another stage of the proceedings.

     For the purposes of this paragraph of this article, stated facts are the facts stated in support of a claim in the notice of arbitration (or any amendment thereto), and in disputes initiated under the UNCITRAL Arbitration Rules, the statement of claim referred to in the relevant article of the UNCITRAL Arbitration Rules.

     2. If a Party to the dispute submits a corresponding request within 45 (forty-five) days after the formation of the arbitration, the arbitration shall decide on an expedited basis on any preliminary objection in accordance with paragraph 1 of this article and any objection that the dispute does not fall within the jurisdiction of the arbitration. The arbitral tribunal shall suspend any proceedings on the merits and render a decision on the objection (objections), indicating their grounds, no later than 150 (one hundred and fifty) days after the date of the request. However, if a party to the dispute requires a hearing, the arbitral tribunal may require an additional 30 (thirty) days to make a decision or order. Regardless of whether a hearing is requested, the arbitral tribunal may, if there is an exceptional reason, delay the delivery of its decision or order for an additional short period, which may not exceed 30 (thirty) days.

     3. The arbitral tribunal may, if justified, award the winning party reasonable costs and fees incurred in filing an objection or challenging it. In determining whether such a decision is justified, the arbitral tribunal should consider whether the claim or objections were unfounded or manifestly unfounded, and provide the parties to the dispute with a reasonable opportunity to comment.

Article 24

Diplomatic protection

     Neither Party shall grant diplomatic protection or bring an international claim in respect of a dispute that one of its investors and the other Party have agreed to submit or have submitted to arbitration in accordance with this section, except in cases where such other Party does not comply with and does not comply with the decision rendered on such dispute. Diplomatic protection for the purposes of this article does not include informal diplomatic exchanges for the sole purpose of facilitating the settlement of a dispute.

Article 25

Decisions

     1. If the arbitral tribunal makes a final decision against the Party to the dispute, the arbitral tribunal may award separately or in combination only:

     (a) Monetary damages and any applicable interest; and

     (b) The restitution of property, in which case the arbitral award should provide that the defendant may pay monetary compensation representing the fair market value of the property at the time immediately preceding the knowledge of the expropriation or impending expropriation, whichever is earlier, and any applicable interest in lieu of restitution, as determined in in accordance with article 6 (expropriation and compensation) of chapter II (protection) of this Agreement.

     2. The arbitral tribunal may also award legal fees and attorneys' fees in accordance with this section and the applicable rules of arbitration.

     3. Arbitration may not award punitive damages.

     4. In any arbitration conducted in accordance with this section, at the request of the investor involved in the dispute, the arbitration, prior to making a decision or ruling on liability, shall forward its proposed decision or ruling to the parties to the dispute. Within 60 (sixty) days after the arbitral tribunal submits its proposed award or order, the parties to the dispute may submit written comments to the arbitral tribunal on any aspect of the proposed award or order. The Arbitral Tribunal must consider any such comments and make its decision or ruling no later than 45 (forty-five) days after the expiration of the 60-day comment period.

     5. If the claim is filed on behalf of the company by the Parties to the dispute, the arbitration award is made to the company.

     6. Any arbitration award is final and binding on the parties to the dispute. The decision is not binding, except between the parties to the dispute and in relation to a specific case.

     7. In accordance with paragraph 8 of this article and the applicable procedure for reviewing the preliminary decision, the parties to the dispute must comply with and implement the decision without delay.

     8. The investor involved in the dispute cannot enforce the final decision until:

     (a) In the case of a final decision in accordance with the ICSID Convention:

     (i) 120 days have passed since the date of the award and none of the parties to the dispute has requested a review or annulment of the award; or

     (ii) the review or cancellation procedure has been completed.

     (b) In the event of a final decision in accordance with the Additional ICSID Rules, the UNCITRAL Arbitration Rules or the rules selected in accordance with paragraph 1 of article 18 (filing of a claim) of this Agreement:

     (i) 90 (ninety) days have passed since the date of the award and none of the parties to the dispute has initiated a review, reversal or annulment procedure; or

     (ii) the court has rejected or granted an application for review, reversal or annulment of the decision, and no further appeal will be filed.

     9. Each Party shall ensure the enforcement of the award in its territory. Each Party shall ensure the recognition and enforcement of the award in accordance with its respective laws and regulations.

Article 26

Expenses

     1. The arbitral tribunal shall rule that the costs of the proceedings shall be borne by the losing party to the dispute. In exceptional circumstances, the arbitral tribunal may allocate costs between the parties to the dispute if it considers that such allocation is appropriate in the circumstances of the case.

     2. Other reasonable expenses, including legal representation and assistance, shall be borne by the losing party to the dispute, unless the arbitration determines that such allocation is unreasonable in the circumstances of the claim.

     3. If only parts of the claims have been satisfied, the costs awarded must be adjusted proportionally depending on the number or volume of the satisfied parts of the claims.

Article 27

Cost assurance

     1. At the request of a Party to the dispute, the arbitral tribunal may order the investor in the dispute to provide security to cover all or part of the costs if there are reasonable grounds to believe that the investor in the dispute risks being unable to comply with a possible cost award made against him.

     2. If the cost security has not been paid in full within 30 (thirty) days after the award by the arbitral tribunal or within any other time limit set by the arbitral tribunal, the arbitral tribunal shall inform the parties to the dispute accordingly. The arbitral tribunal may order the suspension or termination of the proceedings.

Article 28

Consolidation of claims

     If two or more claims have been submitted to arbitration separately in accordance with article 18 (filing of a claim) of this Agreement, the claims have a common issue of law or fact and arise from the same or similar events or circumstances, all interested parties to the dispute may agree to combine these claims in any way they deem appropriate..

Article 29

Termination of production

     If, after filing a claim in accordance with this section, the party to the dispute does not take any steps in the proceedings within 180 days or such period as may be agreed by the parties to the dispute, it is considered that the party to the dispute has withdrawn its claim and terminated the proceedings. The arbitral tribunal, at the request of a party to the dispute and after notifying the parties to the dispute, issues an order to terminate the proceedings. After making such a ruling, the powers of the arbitration shall cease.

Article 30

Handing over the documentation

     Notifications and other documents on disputes in accordance with paragraph 1 of Chapter III of this Agreement are sent through diplomatic channels to the competent authorities of the Parties.

     1. For the Republic of Kazakhstan: the Ministry of Foreign Affairs of the Republic of Kazakhstan, 31 D. Kunaev Street, Astana, Republic of Kazakhstan, or its legal successor; and

     2. For the Republic of Indonesia: Director General for Legal Affairs and International Treaties of the Ministry of Foreign Affairs, Jalan Taman Pejambon No. 6 Jakarta 10110, Indonesia or his legal successor.

Section 2

Dispute resolution between the parties

Article 31

Scope of application

     This section applies to the settlement of disputes between the Parties arising in connection with the interpretation or application of the provisions of this Agreement.

Article 32 Consultations

     1. Either Party may request written consultations on the interpretation or application of this Agreement. If a dispute arises between the Parties regarding the interpretation or application of this Agreement, it should, as far as possible, be resolved peacefully through consultations.

2. If the dispute is not settled by the above-mentioned methods within 6 (six) months from the date of the written request for such consultations, then, unless otherwise agreed by the Parties, either Party may submit such dispute to arbitration established in accordance with this section or, by agreement of the Parties, to any other international tribunal.

Article 33

The composition of the arbitration

     1. Arbitration proceedings shall begin after written notification sent by one Party (hereinafter referred to as the "requesting Party") to the other Party (hereinafter referred to as the "Respondent Party") through diplomatic channels. Such notification shall contain a statement setting out the provisions of chapter II (protection) of this Agreement that are alleged to have been violated, the legal and factual grounds for the claim, a summary of the progress and results of consultations in accordance with Article 32 (consultations) of this Agreement, the requesting Party's intention to initiate proceedings in accordance with this section, and the name of the arbitrator appointed by such requesting Party.

     2. Within 60 (sixty) days after receiving such notification, the Respondent Party shall notify the requesting Party of the name of the arbitrator appointed by it.

     3. Within 60 (sixty) days after the date of appointment of the second arbitrator, the Parties by mutual agreement appoint the third arbitrator, who is the chairman of the arbitration. If the Parties do not agree on the appointment of a third arbitrator, the arbitrators appointed by the Parties shall appoint a third arbitrator, who shall be the chairman of the arbitration, within 60 (sixty) days.

     4. Arbitrators must have experience or knowledge in the field of public international law. It is desirable that they have experience, in particular, in the field of international investment law, international trade law, or dispute resolution arising from international investment or international trade agreements. Arbitrators must be independent of the Parties, and must not be affiliated with or receive instructions from any of them.

     5. With regard to the selection of arbitrators in accordance with paragraphs 1, 2 and 3 of this Article, both Parties and, where appropriate, the arbitrators appointed by them should not select arbitrators who are nationals of States or permanent residents of either Party. In addition, the third arbitrator must be a national of a non-Party State that has diplomatic relations with the Parties.

     6. If the required appointments have not been made within the time limits specified in paragraphs 2 and 3 above, either Party may invite the ICSID Secretary General to appoint an arbitrator or arbitrators who has not yet been appointed. If the ICSID Secretary General is a national of a State or a permanent resident of either Party, or he or she is unable to act for other reasons, the ICSID Deputy Secretary General is invited to make the indicated appointments. If the Deputy Secretary General of ICSID is a national of a State or a permanent resident of either Party, or he or she is unable to act for other reasons, the next oldest person, who is neither a citizen nor a permanent resident of either Party, is invited to make the necessary appointments.

     7. In the event that an arbitrator appointed in accordance with this article resigns or becomes unable to act, his successor shall be appointed in the same manner as provided for the appointment of the original arbitrator, and he or she shall have the same powers and duties as the original arbitrator.

     8. Each Party shall bear the costs of the arbitrator appointed by it and any legal representation in the proceedings. The expenses of the chairman of the arbitration and other expenses related to the conduct of the arbitration shall be borne by the Parties in equal shares, unless the arbitration decides on a greater share of the costs for one of the Parties.

Article 34

Place of arbitration

     Unless otherwise agreed by the Parties, the place of arbitration shall be determined by the arbitral tribunal.

Article 35

Arbitration proceedings

     1. An arbitration court established in accordance with this section shall resolve all issues within its competence and, subject to any agreement between the Parties, determine its own procedure.

     At any stage of the proceedings, the arbitral tribunal may propose to the Parties to settle the dispute amicably. The arbitration ensures a fair hearing of the Parties at any time.

     2. Arbitration shall resolve disputes in accordance with this Agreement, applicable norms, and principles of international law.

     3. The arbitration court shall make a decision by a majority vote. The decision is made in writing and must contain the applicable factual and legal conclusions. The signed decision must be delivered to each Party. The decision is final and binding on the parties.

Chapter IV

Final provisions

Article 36

Other responsibilities

     If the national legislation of one of the Parties or international obligations currently existing or established in the future between the Parties in addition to this Agreement lead to a provision entitling investments of investors of the other Party to more favorable treatment than provided for in this Agreement, such provision shall not be affected by this Agreement.

Article 37

Giving up advantages

     1. A Party may deny the benefits of this Agreement to an investor of the other Party, which is an enterprise of this other Party, and to the investments of this investor, if the enterprise:

     (a) Is owned or controlled by a person from a non-Party country or a declining Party; and

     b) does not conduct significant commercial activities in the territory of any Party other than the refusing Party.

     2. A Party may deny the benefits of this Agreement to an investor of the other Party if a person from a non-Party country owns or controls an enterprise, and the Party refusing this does not maintain diplomatic relations with that non-Party country.

     3. A Party may deny the benefits of this Agreement to an investor who is an individual of the other Party and to the investments of this investor, if this individual is also a citizen of the State of the first Party.

     4. A Party may deny the benefits of this Agreement to an investor of the other Party who is an enterprise of that other Party and to the investments of that investor if non-Party persons own or control the enterprise, and the Party denying the right takes or maintains measures against that Party or a person of a non-Party country that prohibit transactions with the enterprise or which would have been disrupted or circumvented if the benefits of this Agreement had been provided to that enterprise or its investments.

Article 38

Exclusion of claims

     Without prejudice to the scope of any applicable exceptions or principles of international law, or the ability of a Party to a dispute to rely on such exceptions or principles of international law in the course of the proceedings, no claims may be brought in accordance with section 1 (settlement of disputes between a Party and an investor of the other Party) and section 2 (settlement of disputes between the parties) of this Agreement:

     a) a claim in connection with an alleged violation of the most-favored-nation regime, as specified in article 5 (most-favored-nation regime) of this Agreement, on the grounds that another international agreement contains more favorable rights or obligations. For greater certainty, this does not prevent the filing of a claim to challenge the measures of the Party, including those measures that violate Article 5 (most-favored nation) of this Agreement and have led to losses or damage to the disputing investor.;

     b) a claim in respect of a measure that is designed and implemented to protect or promote public health;

     c) a claim for investments that were created as a result of illegal conduct, including fraudulent deception, concealment or corruption;

     d) a claim that is unfounded or manifestly unfounded;

     e) a claim in respect of a tax measure;

     (f) A claim in respect of investment disputes that arose prior to the entry into force of this Agreement; and

     g) the claim of a natural person who has the nationality or nationality of the State of the Party to the dispute.

Article 39

Transparency

     1. Each Party shall ensure that its laws, regulations and administrative regulations of general application relating to or affecting any matter covered by this Agreement are promptly published or otherwise communicated in such a way that interested persons or the other Party can familiarize themselves with them. International agreements related to or affecting investors or investment activities that the Party has signed must also be published.

     2. As far as possible, each Party shall post the measures and international agreements referred to in paragraph 1 of this Article on the Internet. Each Party, at the request of the other Party, shall respond within a reasonable period of time to specific questions and provide information to the other Party regarding the issues referred to in paragraph 1 of this Article.

Article 40

Prudential measures

     1. Notwithstanding any other provisions of this Agreement, none of the Parties may be deprived of the opportunity to take measures in a non-discriminatory manner with respect to financial services for prudential reasons, including measures to protect investors, depositors, policy holders or persons to whom the financial service provider has fiduciary obligations, as well as measures aimed at ensuring the integrity and stability of its financial system.

The Parties understand that the term "prudential reasons" includes maintaining the security, validity, integrity, or financial responsibility of individual financial service providers, as well as the security, financial, and operational integrity of payment and clearing systems.

     2. If the measures taken by the Party in accordance with paragraph 1 of this Article do not comply with this Agreement, they should not be used as a means of evading the obligations or obligations of the Party under this Agreement.

     3. Nothing in this Agreement should be interpreted as requiring the Parties to disclose information related to the affairs and accounts of individual clients, or any confidential or proprietary information held by government organizations.

Article 41

Promotion and facilitation of investments

     1. In accordance with its applicable laws and regulations, each Party shall seek to cooperate in facilitating investments between the Parties, including through:

     (a) Creating the necessary conditions for all forms of investment;

     (b) Simplification of procedures for submitting investment applications and approvals;

     (c) Promoting the dissemination of investment information, including investment rules, regulations, policies and procedures, as well as information on priority sectors, partnerships with local small and medium-sized enterprises (SMEs); and

     (d) Establish an appropriate mechanism, as far as possible, to provide assistance and advisory services to investors, including simplification of operating licenses and permits.

     2. In accordance with their national legislation, cooperation activities in accordance with subparagraph (d) of paragraph 1 of this article may be based on existing agreements or arrangements already concluded for the purposes of economic cooperation.

     3. Nothing in this article may be interpreted as affecting any obligations in the provisions of Chapter II (protection) of this Agreement, nor is it subject to or otherwise affects any dispute resolution procedures under this Agreement.

Article 42

Common exceptions

     Subject to the requirement that such measures should not be applied in a manner that would constitute a means of arbitrary or unjustifiable discrimination against the other Party or its investors where similar conditions prevail, or a disguised restriction on investments by investors of the other Party in the territory of the Party, nothing in this Agreement should be interpreted as preventing the adoption or execution of measures by the Party:

     a) necessary to protect public morals or maintain public order;

     b) necessary to protect the life or health of humans, animals or plants;

     c) necessary to ensure compliance with laws or regulations that do not contradict the provisions of this Agreement, including those related to:

     (i) preventing deception and fraud or eliminating the consequences of non-fulfillment of obligations under the contract;

     (ii) protecting the privacy of individuals in connection with the processing and dissemination of personal data, protecting the confidentiality of individual records and accounts;

     (iii) security.

     (d) Introduced to protect national treasures of artistic, historical or archaeological value; or

     e) related to the conservation of depleted natural resources, if such measures are implemented in combination with restrictions on domestic production or consumption.

Article 43

Security exceptions

     Nothing in this Agreement shall be interpreted as:

     a) require the Party to provide any information, the disclosure of which it considers to be contrary to its essential security interests; or

     (b) To prevent a Party from applying measures that it deems necessary to fulfill its obligations with respect to the maintenance or restoration of international peace or security or the protection of its own essential security interests.

Article 44

Central bank immunities

     Nothing in this Agreement should be interpreted as a waiver of any immunities in respect of property owned by the central banks of the Parties by right of ownership or otherwise, including property held in trust by the central banks of the Parties.

Article 45

Entry into force, term and termination

     1. This Agreement shall enter into force on the date of receipt of the last notification through diplomatic channels confirming that both Parties have completed the legal procedures for the entry into force of this Agreement.

     2. By mutual agreement of the Parties, amendments may be made to this Agreement, which are its integral parts, which are formalized in separate protocols and enter into force in accordance with the procedure provided for in paragraph 1 of this article.

     3. This Agreement shall remain in force for 10 (ten) years and shall remain in force thereafter, unless at any time after the expiration of the initial ten-year period either Party notifies the other Party in writing of its intention to terminate this agreement. If the Party sends such a notification, this Agreement will be terminated after one year from the date of its receipt.

     4. With respect to investments made prior to the effective date of the notice of termination of this Agreement, the provisions of this Agreement shall remain in force for another 10 (ten) years from that date.

     5. The annexes to this Agreement are its integral parts.

     In witness whereof, the undersigned, being duly authorized thereto by their respective Governments, have signed this Agreement.

     Committed in _______"__"_______ 202___ in two copies, each in Kazakh, Russian, Indonesian, and English, all texts being equally authentic. In case of any discrepancies between the texts, the English text shall prevail.

FOR THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

FOR THE GOVERNMENT OF THE REPUBLIC OF INDONESIA

Annex I

Expropriation

     1. An action or a series of related actions by a Party may not constitute expropriation, unless they affect the right to tangible or intangible property, or a proprietary interest in investments.

     2. Article 6 (expropriation and compensation) of this Agreement concerns two situations:

     (a) The first situation is outright expropriation, where investments are nationalized or otherwise directly expropriated through formal transfer of ownership or outright confiscation; and

     b) the second situation is indirect expropriation, when an action or a series of related actions by a Party has consequences equivalent to direct expropriation, without formal transfer of ownership or direct seizure.

     3. Determining whether an action or a series of related actions by a Party in a particular factual situation constitutes expropriation of the type referred to in subparagraph (b) of paragraph 2 of this Article requires a case-by-case evidence-based investigation that considers, among other factors:

     (a) The economic consequences of government actions, although the fact that an action or a series of related actions by a Party has an adverse effect on the economic value of an investment does not prove that such indirect expropriation has taken place;

     b) the duration of the Party's action or series of actions;

     (c) The extent to which government actions affect clear, reasonable investment-based expectations; and

     For greater certainty, the question of whether an investor's expectations based on investments are reasonable depends, to the extent appropriate, on factors such as the Government's provision of mandatory written assurances to the investor, as well as the nature and extent of government regulation or the potential for government regulation in the relevant sector.

     (d) The nature of the Government's action, including its purpose, and whether the action is disproportionate to the public purpose.

     4. Non-discriminatory regulatory actions of a Party that are designed and applied to achieve legitimate goals of public welfare, such as the protection of public health, safety and the environment, do not constitute expropriation specified in subparagraph (b) of paragraph 2 of this article.

Annex II

Code of Conduct for Arbitrators and Mediators

Definitions

     1. In this Code of Conduct:

     "arbitrator" means a member of the arbitral tribunal established in accordance with article 20 (composition of the arbitral tribunal) of this Agreement;

     "mediator" means a person conducting mediation in accordance with article 17 (mediation) of this Agreement;

     "candidate" means an individual whose candidacy is being considered for election as an arbitrator;

     "assistant" means a person who, in accordance with the terms of appointment of the arbitrator, conducts research or provides assistance to the arbitrator;

     "staff", in relation to the arbitrator, means any person under the direction and control of the arbitrator, with the exception of an assistant; and

     "proceedings", unless otherwise specified, means arbitration proceedings in accordance with section 1 (settlement of disputes between a Party and an investor of the other Party) of chapter III (settlement of disputes) of this Agreement.

Responsibility for the process

     2. Each candidate and arbitrator must avoid misconduct and the appearance of misconduct, be independent and impartial, avoid direct and indirect conflicts of interest, and adhere to high standards of conduct in order to preserve the integrity and impartiality of the dispute resolution mechanism.

3. Arbitrators should not receive instructions from any organization or Government on the issues being considered by the arbitration.

Disclosure obligations

     4. Prior to being appointed as an arbitrator, a candidate must disclose to the parties to the dispute any past or present interests, relationships, or issues that may affect his or her independence or impartiality, or that may reasonably create the appearance of impropriety or bias in the litigation. To this end, the candidate should make every reasonable effort to learn about any such interests, relationships, and affairs.

     5. After appointment, the arbitrator must always continue to make every reasonable effort to learn about and disclose any interests, relationships, or matters referred to in paragraph 4. The disclosure obligation is an ongoing obligation that requires the arbitrator to disclose information about any such interests, relationships, or issues that may arise at any stage of the proceedings as early as possible when the arbitrator becomes aware of it. The arbitrator shall disclose such interests, relationships, or issues by informing the parties to the dispute in writing for their consideration.

     6. Disclosure of an interest, relationship, or issue does not prejudice whether these interests, relationships, or issues actually fall within the scope of paragraphs 4 or 5 of this article, and is grounds for disqualification or disqualification. In case of uncertainty as to whether an interest, relationship, or issue should be disclosed, the candidate or arbitrator is required to lean in favor of disclosure.

     7. The arbitrator must inform the parties to the dispute about actual or potential violations of this code of conduct.

Duties of arbitrators

     8. The arbitrator must comply with the provisions of section 1 (settlement of disputes between a Party and an investor of the other Party) of Chapter III (settlement of disputes) of this Agreement and the applicable rules of procedure.

     9. The arbitrator must perform his duties carefully and promptly during the proceedings, as well as honestly and diligently.

     10. An arbitrator should not deny other arbitrators the opportunity to participate in all aspects of the proceedings.

     11. The arbitrator considers only those issues that arise during the proceedings and are necessary for making a decision or ruling, and cannot delegate this duty to any other person.

     12. The arbitrator must take all necessary measures to ensure that his assistants and staff are aware of and comply with paragraphs 2-6, 8, 13 and 19-23 of this code of conduct.

     13. The arbitrator should not enter into any relations unilaterally concerning the proceedings.

Independence and impartiality of arbitrators

     14. An arbitrator must be independent and impartial, avoid creating the appearance of bias or impropriety, and must not be influenced by personal interests, external pressure, political considerations, public outcry, loyalty to a party to the dispute or a party not involved in the dispute, or fear of criticism.

     15. The arbitrator must not directly or indirectly assume any obligations or receive any benefits that in any way could interfere with or give the impression that it would interfere with the proper performance of his or her duties.

     16. An arbitrator should not use his position in arbitration to advance any personal or private interests and should avoid actions that may give the impression that others are in a special position to influence him or her.

     17. An arbitrator must not allow past or existing financial, business, professional, family, or social relationships or responsibilities to influence his or her behavior or decision.

     18. An arbitrator should avoid entering into any relationship or acquiring any financial interests that could affect his or her impartiality, or could reasonably create the appearance of impropriety or bias.

Duties of former arbitrators

     19. A former arbitrator should avoid actions that may give the appearance that he or she was biased in the performance of his or her duties or benefited in any way from the decisions or rulings of the arbitral tribunal.

Confidentiality

     20. The arbitrator or former arbitrator shall in no case disclose or use any confidential information related to the trial or obtained during the trial, except for the purposes of this proceeding, and shall not, in particular, disclose or use any such information to obtain personal benefit or advantage for others or to adversely affect on the interests of others.

     21. The arbitrator must not make any public statements on the merits of the pending proceedings.

     22. The arbitrator must not disclose the decision or any part of it before it is published.

     23. In no case shall an arbitrator or a former arbitrator disclose the decisions of the arbitration or the opinion of any arbitrator regarding the discussions, except in cases provided for by law.

Expenses

     24. Each arbitrator keeps records and provides a final report on the time spent on the procedure, his expenses, as well as the time and expenses of his assistants.

Duties of assistants and employees

     25. Paragraphs 2-6, 8, 13 and 19-23 of this Code of Conduct also apply to assistants and staff.

Mediators

     26. The rules set out in this Code of Conduct apply mutatis mutandis to mediators in the same way as they apply to arbitrators or former arbitrators.

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