obstacle in the way of the com- 
panies of the other High Con- 
tracting Party which may desire 
to carry en in his territories, 
whether through the establish- 
ment of branches or otherwise, 
any description of business which 
the companies, partnerships and 
associations or subjects or citizens 
of any other foreign country are, 
or may be, permitted to carry on 
according to the laws in force. 
The grant to the companies of 
either High Contracting Party of 
the right permanently to carry 
on their regular commerce or 
industry in the territories of the 
other shall be governed by the 
laws and regulations which are, 
or may in future be, in force in 
those territories. 
The companies of either High 
Contracting Party shall enjoy in 
the territories of the other, so 
far as concerns taxes, exactions, 
customs duties, imposts, fees 
which are substantially taxes, and 
other similar charges, treatment 
no less favourable than that 
accorded to the companies of the 
other High Contracting Party. 
In no case shall the treatment 
accorded by either of the High 
Contracting Parties to companies 
of the other be less favourable in 
respect of ‘any matter whatever 
than that accorded to companies, 
partnerships and associations of 
the most favoured foreign country. 
ARTICLE 11. 
Articles produced or manufac- 
tured in the territories of one of 
the High Contracting Parties, 
imported into the territories of 
the other, shall not be subjected 
to other or higher duties or 
charges than those paid on the 
nici o piedicd in calea societatilor 
celeilalte Inalte Parti Contrac- 
tante, cari ar dori si exercite pe 
teritoriile acesteia, fie prin stabi- 
live de filiale, fie altfel, orice gen 
de intreprindere pecare societétile 
anonime, in nume colectiv, ago- 
ciatiunile sau supugii ori cetdtenii 
oricdrui alt stat striin pot, san 
vor putea, exercita in conformitate 
cu legile in vigoare. 
Dreptul conferit societétilor 
fiecireia dintre Inaltele Parti 
Contractante, de a-gi exercita in 
mod permanent comertul sau 
industria lor obignuits, pe teri- 
woriile Celeilalte, va fi supus legilor 
8i regulamentelor care sunt, sau 
vor fi, In vigoare pe acele teri- 
torii. 
Societitile fiecireia  dintre 
[naltele Parti Contractante vor 
beneficia, pe teritoriile Celeilalte, 
su privire la taxe, dir, taxe 
vamale, impuneri, contributiuni 
care sunt de natura taxelor, si 
orice alte sarcini similare, de un 
tratament nu mai putin favorabil 
lect acel acordat societitilor 
celeilalte Inalte Pirti Contrac- 
taute. 
Tratamentul acordat de citre 
fiecare dintre Inaltele Pari 
Contractante societitilor celei- 
lalte Parti, nu va putea fi in nici 
an caz mai putin favorabil, in 
nicl 0 privinta, decit acel acordat 
societitilor ‘anonime, in nume 
colectiv sau asociatiunilor apar- 
tindnd statului strdin celui mai 
tavorizat. 
ARTICOLUL 11. 
Articolele produse sau fabri- 
cate pe teritoriile uneia dintre 
Inaltele Parti Contractante, im- 
portate in teritoriile Celeilalte, 
nu vor fi supuse la taxe deosebite 
sau mai mari decat acele plitite 
asupra articolelor similare, pro-