New Delhi, 13 February 1968The Government of India and The Government of the Mongolian People’s Republic
BEING desirous of developing trade relations between the two Countries,
HAVE agreed upon the following :
HAVE agreed as follows :
Article I
The Contracting Parties will, in every possible way, support development of mutually beneficial trade between the two countries on
the basis of mutual respect and equally and will consider with goodwill the suggestions which either party may present for consideration
of the other.
Article II
The Contracting Parties will in the course of trade between the two countries accord facilities allowed by their respective laws relating
to import and export and foreign exchange rules and regulations. Mutual deliveries of goods between the two countries will be carried
out in accordance with Annexure “A” and “B” as may be needed by either of the two Contracting Parties.
Article III
The competent foreign trade organisations of both Contracting Parties and the persons authorised by them will conclude contracts about
deliveries of goods covered by the present Agreement.
Article IV
(a) Both contracting Parties will accord each other most favoured treatment in respect of customs duties and charges of any kind imposed
on imports or exports, or in connection herewith, in respect of the methods of levying such duties and charges and in respect of
rules formalities and charges in connection with customs clearing operations.
(b) The Contracting Parties will grant each other in respect of the import and export licences or permissions where such licences/permissions
are prescribed under their regulations, treatment no less favourable than that granted to any other country.
Article V
Any advantages, favour, privilege or immunity granted by either of the Contracting Parties to any product originating in the territory
of a third country or destined for its territory shall be granted immediately and unconditionally to the like product originating
in the territory of either of the Contracting Parties or designated to be imported into its territory.
Article VI
The provisions of Article IV and V above shall not, however apply to the grant, or continuance of any :
(a) advantages accorded by either party to contiguous countries for the purpose of facilitating frontier traffic;
(b) preferences, or advantages, accorded by either party to any country, as existing on the date of the conclusion of the present
Agreement or in replacement of such preferences or advantages that existed prior to the 15th August 1947.
Article VII
The export of goods from India to Mongolia and from Mongolia to India during the period of validity of the present Agreement will
be carried out in accordance the the Annexure “A” and “B” the details of which will be agreed upon from time to time between the
two Contracting Parties.
The Annexure “A” and “B” can be extended, altered, or renewed by letters exchanged between the two Contracting Parties with mutual
consent.
Article VIII
All payments for current transactions between the two countries shall be effected in convertible currency unless otherwise agreed
to between the two Parties.
In case the two Parties agreed to payment for goods imported by either country to be settled through a clearing account, such goods
shall not be re-exported to any third country, but would be consumed in the importing country unless otherwise agreed to by the two
Contracting Parties.
Article IX
Both Parties will take all possible steps to facilitate speedy transportation of their goods sold and purchased under this Agreement.
Article X
Any contract concluded under this Agreement but not carried out before the date of the expiry of this Agreement will continue to be
implemented in accordance with the provisions of this Agreement.
Article XI
The physical and juridical persons in India and the physical and juridical persons in Mongolia may agree that legal dispute arising
from contract concluded in commercial or other economic matters shall be referred to arbitration.
Article XII
The two Contracting Parties agree to consult each other on questions that may arise in the course of the implementation of the present
Agreement.
Article XIII
The present Agreement will come into force from the date of its signing and will remain valid for a period of three years.
The present Agreement has been drawn up and signed in New Delhi on the 13th February 1968 in two original copies in Mongolian and
in English, the Mongolian and English texts being equally authentic.
Sd/-
Sd/-
DINESH SINGH
D DORZHGOTOV
By authority of the Government
By authority of the Government
of India
Mongolian People’s Republic
LIST “A”
GOODS FOR EXPORT FROM INDIA TO MONGOLIA
Food-Stuffs
1. Fruits, fruit juices and canned products
2. Nuts
3. Pepper and other spices
4. Canned fish
5. Tobacco and tobacco goods
6. Tea
Raw Materials
7. Shellac and goods based on shellac
8. Gum and Rubber
9. Vegetable oil
Industrial goods
10. Ferrous and non-ferrous rolled metals
11. Ferrous and non-ferrous metal ware
12. Light industry machinery
13. Electro technical goods
14. Lifting-handling (transport equipment)
15. Other measuring instruments
16. Chemical goods
17. Mecial equipment and pharmaceuticals
18. Consumer goods
19. Other goods, including films
20. Textiles including woollen, cotton and silk
21. Jute manufactures
22. Tarpaulins.
LIST “B”
GOODS FOR EXPORT FROM MONGOLIA TO INDIA
Wool
1. Camel mane unwashed
2. Sheep wool, fleece, washed
3. Sheep wool, autumn, unwashed
4. Lamb’s wool felt, unwashed
5. Horse-hair
6. Got-hair
Skin of animals
7. Horse and camel skins, raw
8. Sheep and goat skins, worked up
9. Baby camel skin, lambskin, raw fur
10. Marmot
11. Fox
12. Wolfskin
13. Squirrel and other furs
Other Goods
14. Tungsten and other metals which do not contain
15. Woollen knitwear
16. Woollen cloth
17. Woollen blankets
18. Tanned skins, leather goods, leather coats, jackets
19. Cattle horns
20. Medicinal herbs
21. Films.
---------------
