Agreement between the Government of the Republic of Latvia and the Government of THE REPUBLIC OF ARMENIA on economic, INDUSTRIAL, SCIENTIFIC AND TECHNICAL cooperation

The Government of the Republic of Latvia and the Government of the Republic of Armenia, hereinafter referred to as “the Contracting Parties",

recalling the development of friendly relations between the Republic of Latvia and the Republic of Armenia,

desiring to strengthen, maintain and develop economic, industrial, scientific and technical cooperation between the Contracting Parties and to intensify and diversify their trade,

being guided by the principles of equality, mutual interests and international law,

considering commitments of the Republic of Latvia as a member state of the European Union,

bearing in mind the provisions of the Partnership and Cooperation Agreement between the European Communities and their Member States, of the one part, and the Republic of Armenia, of the other part, signed on 22 April 1996,

Hereby agree as follows:

Article 1
Objectives

1. The Contracting Parties shall, within the framework of their respective national laws and taking into account their international obligations, develop, strengthen and diversify economic, industrial, scientific and technical cooperation on a mutually beneficial basis and in all spheres of mutual interest.

2. Such cooperation shall be aimed in particular at:

(i) strengthening and diversifying economic links between the Contracting Parties;

(ii) encouraging cooperation between organizations and enterprises, including small and medium-sized enterprises, with a view to promote investments, joint ventures and other forms of cooperation between them.

Article 2
Scope

1. The cooperation agreed in Article 1, shall be extended between the Contracting Parties, in particular, in the following sectors:

(i) industry;

(ii) science, technologies and innovations;

(iii) investment policy;

(iv) transport and transit;

(v) tourism;

(vi) agriculture;

(vii) environmental protection;

(viii) information and communication technologies;

(ix) regional development;

(x) other sectors of mutual interest which promote the further expansion of economic, industrial, scientific and technical cooperation.

2. The Contracting Parties shall consult with each other in order to identify the priority sectors in their cooperation as well as on new sectors of economic, industrial, scientific and technical cooperation to be included.

Article 3
Cooperation measures

In order to attain the objectives of this Agreement, the Contracting Parties shall facilitate and promote, among other things:

(i) communication and cooperation between governmental institutions;

(ii) links between professional organizations, chambers, and associations;

(iii) visits, contacts and activities designed to promote cooperation, between individuals, officials and economic organizations;

(iv) the organization of fairs and exhibitions;

(v) the organization of seminars and symposia;

(vi) the forming of joint ventures and other forms of joint economic activities;

(vii) participation of small and medium-sized enterprises in bilateral economic relations;

(viii) trade promotion activities.

Article 4
Exchange of information

1. The Contracting Parties shall regularly exchange information about trade, investment, financial services and other information, necessary for the promotion and facilitation of economic, industrial, scientific and technical cooperation.

2. The Contracting Parties recognize the importance of effective protection of intellectual property rights. The Contracting Parties shall exchange information on a regular basis on laws and procedures governing the protection of intellectual property rights in their respective countries.

Article 5
Establishment of the Intergovernmental Commission

1. With the purpose of performing the tasks set out in Article 1 of this Agreement the Contracting Parties shall establish the Latvian-Armenian Intergovernmental Commission on Economic, Industrial, Scientific and Technical Cooperation (hereinafter the Intergovernmental Commission).

2. The Intergovernmental Commission shall be composed of representatives of respective state authorities of the Contracting Parties.

3. The Intergovernmental Commission shall hold sessions when necessary, but not less than once in two years by alternatively in the Republic of Latvia and Republic of Armenia.

4. The Intergovernmental Commission may invite representatives of business circles of the Contracting Parties to take part in its work.

Article 6
Terms of the Intergovernmental Commission

1. The main tasks of the Intergovernmental Commission are as follows:

(i) to monitor and examine the functioning of this Agreement and any questions that may arise in the implementation of this Agreement;

(ii) to discuss programs of economic, industrial, scientific and technical cooperation in the spheres of mutual interest;

(iii) to examine problems that could hinder the development of economic cooperation and trade between the Contracting Parties;

(iv) to compare statistics of the Contracting Parties.

2. The Intergovernmental Commission shall make recommendation on amendments and supplements to this Agreement.

Article 7
Dispute settlements

Any disputes concerning interpretation or application of this Agreement shall be settled by negotiations and consultations between the Contracting Parties.

Article 8
Amendments

1. The provisions of this Agreement may be amended and supplemented by mutual agreement of the Contracting Parties.

2. Such amendments and supplements shall be formed as additional Protocols which shall constitute an integral part of this Agreement and shall enter into force in accordance with the procedure described in Article 9 of this Agreement.

Article 9
Final provisions

1. This Agreement shall enter into force on the date of receipt of the last written notification through diplomatic channels by which the Contracting Parties inform each other that the internal legal requirements necessary for its entry into force have been fulfilled.

2. This Agreement is concluded for an indefinite period of time.

3. Each Contracting Party may terminate this Agreement by means of a written notification to the other Contracting Party. Such termination shall take effect on the first day of the sixth month following the date on which the other Contracting Party received such notification.

Done at Yerevan this 10 day of December, 2009, in two original copies, each in the Latvian, Armenian and English languages, all texts being equally authentic.

In case of any differences in the interpretation of this Agreement, the English text shall prevail.