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Long Term Agreement between the Government of Canada and the Government of the Czechoslovak Socialist Republic on the Development of Trade, Economic and Industrial Cooperation [1986] CATSer 25 (5 September 1986)

E101149 - CTS 1986 No. 9

LONG TERM AGREEMENT BETWEEN THE GOVERNMENT OF CANADA AND THE GOVERNMENT OF THE CZECHOSLOVAK SOCIALIST REPUBLIC ON THE DEVELOPMENT OF TRADE, ECONOMIC AND INDUSTRIAL COOPERATION

The Government of Canada and the Government of the Czechoslovak Socialist Republic, hereinafter called the Contracting Parties,

RECALLING their Convention of Commerce of March 15, 1928, and their membership in the General Agreement on Tariffs and Trade (GATT);

NOTING with satisfaction the expansion in trade and economic relations between the two countries;

WISHING to further develop, promote and expand trade, economic and industrial cooperation between the two countries on the basis of mutual benefit; and desiring to create appropriate conditions for its development;

RECOGNIZING the importance of long term cooperation aimed at the creation of close and lasting ties between organizations, enterprises and firms of the two countries;

STRESSING the importance of improving the exchange of trade, economic and industrial information;

GUIDED by the high significance they attach to the Final Act of the Conference on Security and Cooperation in Europe, signed in Helsinki on August 1, 1975, and by their determination to act in accordance with its principles and provisions,

HAVE AGREED TO AS FOLLOWS:

ARTICLE I

The Contracting Parties, on the basis of the Convention of Commerce of March 15, 1928, and guided by the purposes and principles of the General Agreement on Tariffs and Trade, shall continue to direct their efforts towards broadening and strengthening mutually beneficial economic and industrial cooperation between the two countries.

ARTICLE II

The Contracting Parties shall, in particular, direct their efforts towards the dynamic expansion and diversification of trade. They shall endeavour to promote a steady long term increase in the level of mutual trade in traditional and non­-traditional goods.

ARTICLE III

Recognizing the importance of financing for the further development of economic relations, the Contracting Parties shall make efforts to achieve the extension of credits to one another on conditions as favourable as possible.

ARTICLE IV

Bearing in mind the importance of cooperation for mutual benefit, the Contracting Parties shall, subject to the laws and regulations in force in either country continue to encourage and facilitate direct contacts between representatives of Canadian and Czechoslovak organizations and enterprises and facilitate visits for business purposes from one country to the other and the establishment and operation of offices of organizations and enterprises in the territory of the other Contracting Party.

ARTICLE V

The performance of rights and obligations arising out of contracts and commercial, economic and industrial cooperation arrangements entered into between organizations and enterprises of the Contracting Parties shall be the responsibility of such organizations and enterprises only.

ARTICLE VI

1. A Mixed Commission on economic and trade relations including industrial cooperation will be established. The Commission will consist of representatives designated by the respective Governments.

2. The Mixed Commission shall have the following tasks:

a) to review the implementation of this Agreement, and consider measures which might be taken with a view to fulfilling its provisions;

b) to review the development of trade relations between the two countries;

c) to explore the possibilities of increasing and diversifying trade and economic relations including industrial cooperation on the basis of mutual benefit, and to identify new areas for such cooperation;

d) to consider proposals for a continuing and substantial increase in trade between the two countries;

e) to consult concerning problems which may arise in the course of the development of economic and trade relations including industrial cooperation between the two countries.

3. The Mixed Commission may submit to the Contracting Parties reports relating to the above-mentioned matters.

4. The Mixed Commission shall meet on a regular basis alternately in Canada and the Czechoslovak Socialist Republic at mutually agreed dates.

5. Between the regular meetings of the Mixed Commission the Contracting Parties shall, on the initiative of either of them, conduct consultations through their representatives on matters of particular importance to

a) the implementation of the present Agreement or of agreements related to it;

b) the development of economic and trade relations including industrial cooperation between the two countries.

ARTICLE VII

This Agreement shall enter into force on signature and shall remain in force for a period of ten years. Not less than six months prior to the expiry of the said ten-year period, the Contracting Parties shall agree upon measures necessary to continue economic and industrial cooperation between their two countries. The present Agreement may be amended by mutual agreement of both Governments.

ARTICLE VIII

In the event of termination of this Agreement all obligations or undertakings arising from contracts and other commercial, economic and industrial co-operation arrangements entered into during the period the Agreement was in force shall be fulfilled in accordance with their terms.

IN WITNESS WHEREOF, the undersigned, duly authorized by their respective Governments, have signed this Agreement.

DONE in duplicate at Ottawa, this 5th day of September 1986, in the English, French and Czech languages, each version being equally authentic.

Joe Clark

FOR THE GOVERNMENT OF CANADA

Ing Bohumil Urban

FOR THE GOVERNMENT OF THE CZECHOSLOVAK SOCIALIST REPUBLIC