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EXCHANGE OF LETTERS BETWEEN THE GOVERNMENT OF INDIA AND THE [1964] INTSer 7

EXCHANGE OF LETTERS BETWEEN THE GOVERNMENT OF INDIA AND THE GOVERNMENT OF REPUBLIC OF KOREA RELATING TO
TRADE ARRANGEMENT

New Delhi, 29 April 1964

LETTERS

GOVERNMENT OF INDIA
MINISTRY OF INTERNATIONAL TRADE

New Delhi,
the 29th April , 1964

Dear Mr. KIBONG HAN,

As a result of the negotiations that have taken place recently in New Delhi, between the Ministry of International Trade of the Government of India and the Trade Delegation of the Government of the Republic of Korea, certain conclusions have been reached which are set out in the following paragraphs :

2. Both the parties shall, within the framework of their respective laws and regulations in force from time to time, afford necessary facilities for the import/ export of commodities mentioned in the Schedules A and B.

3. The two parties shall provide reasonable facilities for import into and export from either country of commodities not specifically mentioned in the Schedules A and B.

4. Each party shall give full consideration to suggestions that may be made from time to time by the other party for facilitating the import into one country of commodities which are available for export from the other.

5. Each party shall subject to prices and quality being satisfactory, give full consideration to suggestions that may be made from time to time by the other party for the development and expansion of commerce and the diversification of trade between the two countries.

6. The two parties shall accord to the commerce of each other treatment no less favourable than that accorded to the commerce of any third country. The above provision shall not, however, apply to the grant or continuance of any :

(a) advantages accorded by either of the parties to contiguous countries;
(b) advantages resulting from any Customs union or free trade area to which either of the parties is or may become a party;
(c) preferences or advantages accorded by India or the Republic of Korea to any country existing on the date of this Arrangement or in so far as India is concerned in replacement of such preferences or advantages that existed prior to the l5th August, 1947.

7. Both the parties agree to explore ways and means and to take necessary steps for the most convenient and economical transportation of commodities between the two countries.

8. Mercantile ships of both countries, while entering, staying in or leaving the ports of either country, will enjoy the most favoured facilities granted by their respective laws, rules and regulations to ships under third country's flag. This principle shall not, however, apply to ships engaged in coastal navigation.

9. Payments under this Arrangement shall be effected in U.S. dollars or pounds sterling or in any other convertible currency acceptable to both countries.

10. In order to facilitate the implementation of this Arrangement the two parties shall consult each other as and when necessary and also review the working of the Arrangement at least once a year.

11. The present Arrangement will come into force from the date of its signature, and shall remain valid for a period of two years in the first instance and shall continue to be in force from year to year unless either party gives to the other at least 90 days written notice of its intention to terminate the Arrangement.

I shall be grateful if you will kindly confirm that this letter sets out correctly the understanding reached between us.

Yours sincerely,

Sd /--
D.K. SRINIVASACHAR,
Joint Secretary to the Government of India and
Leader of the Indian Delegation

Mr. KIBONG HAN,
Consul General,
Consulate General of Republic of Korea,
New Delhi.


CONSULATE GENERAL, REPUBLIC OF KOREA

New Delhi,
29th April , 1964

Dear Mr. SRINIVASACHAR,

I have the honour to acknowledge the receipt of your letter of to days date which reads as follows :

(Not reproduced)

I confirm that the above correctly sets out the understanding reached between us.


Yours sincerely,

Sd /-
KIBONG HAN,
Consul General,
Consulate General of Republic of Korea, New Delhi.

Mr. D.K. SRINIVASACHAR,
Joint Secretary to the Government of India, Ministry of
International Trade, New Delhi.


SCHEDULE A

COMMODITIES AVAILABLE FOR EXPORT FROM THE
REPUBLIC OF KOREA TO INDIA

1. Canned fish
2. Raw silk
3. Rubber products
4. Plywood
5. Paper including newsprint and paper boards
6. Textiles, like cotton, wool, etc.
7. Fishing nets
8. Glass products
9. Ceramics
10. Iron bars
11. Galvanised iron sheets
12. Pharmaceuticals
13. Handicrafts
14. Canned fruits
15. Dried sea products
I6. Agricultural products
17. Farming machinery
18. Wolframite
19. Tungsten ore and concentrates
20. Lead
21. Zinc
22. Copper
23. Nickel
24. Tin metal
25. Natural graphite
26. Bismuth
27. Ginseng and its products
28. Menthol


SCHEDULE B

COMMODITIES AVAILABLE FOR EXPORT FROM INDIA
TO THE REPUBLIC OF KOREA

1. Canned, preserved and processed food and fruits
2. Sugar and sugar preparations
3. Molasses
4. Raw cotton of medium and short staple
5. Spices
6. Hydrogenated oils and animal fats
7. Chemicals - organic and inorganic
8. Drugs and pharmaceuticals
9. Essential oils, perfumes, essences and toiletries
10. Textiles, handloom fabrics and furnishing fabrics
11. Dyes, dye-stuffs and natural tanning materials
12. Ferro-manganese
13. Cement and paper and pulp machinery plant and textile end other machinery and spare parts.
14. Diesel engines, diesel pumps, centrifugal pumps, chemical pumps, etc.
15. Machine tools .
16. Industrial sewing machines
17. Electrical machinery, like motors, transformers, switchgears, etc.
18. Railway equipment, like steam locomotives, passenger coaches, wagons, freight cars, and track material.
19. Motor vehicular parts, ancillaries and accessories
20. Cables, wire end wire products
21. Office equipment, like duplicators, typewriting machines, etc.
22. Rubber products, manufactured leather and leather goods,
23. Ceramics, refractory and glass products.
24. Construction machinery, like concrete mixers, concrete vibrators, continuous batch plants, etc.
25. Rolled steel products, like angles, bars, rods, etc.
26. Linoleum, carpets, floor coverings, etc.
27. Building and construction materials
28. Plastic goods
29. Insecticides and fungicides.


India Bilateral

Ministry of External Affairs, India


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