Agreement between Ministry of Economy of the Republic of Latvia and Ministry of Economy of the Slovak Republic on trade — economic and scientific — technical co–operation

Ministry of Economy of the Republic of Latvia and Ministry of Economy of the Slovak Republic hereinafter referred to as the "Contracting Parties"

proceeding from the Agreement signed between Government of the Republic of Latvia and Government of the Czech and Slovak Federative Republic on trade — economic relationships and scientific — technical co–operation signed in Riga on August 2, 1991,

in compliance with the Agreement on Free Trade between the Republic of Latvia and the Slovak Republic signed in Riga on April 19, 1996,

in compliance with other effective international acts signed between the Republic of Latvia and the Slovak Republic,

taking into consideration mutual advantage to preserve and further develop traditional trade, economics, scientific and technical relations between the Republic of Latvia and the Slovak Republic,

have agreed as follows:

Article 1

Contracting Parties consider revival of bilateral relations in fields of trade — economic and scientific — technical co–operation to be the most important goal of joint efforts.

Contracting Parties will, conforming their national laws and regulations, create favourable environment for development of trade, economics, scientific and technology co–operation, including reciprocal industrial goods ‘deliveries and services’ provisions, promotion of entrepreneurship and enhancement of direct co–operation between producers.

Contracting Parties, based on the Free Trade Agreement between the Republic of Latvia and the Slovak Republic, will support further liberalisation of mutual trade relations and by introducing new Pan–European rules about origin of goods shall aim at achieving harmonisation and simplification of procedures in determining origin of goods with the aim to allow for a broader accumulation of origin in compliance with the Protocol 3 on origin of goods attached to the Free Trade Agreement between the Republic of Latvia and the Slovak Republic.

Article 2

Contracting Parties mutually undertake to exchange information on amendments to national laws and regulations of the Republic of Latvia and the Slovak Republic, that may effect fulfilment of this Agreement.

Article 3

In compliance with national legislation of the Republic of Latvia and the Slovak Republic Contracting Parties will further support establishment of trade representation of enterprising subjects on territories of both States with the goal to create conditions for increase mutual foreign trade exchange of good and services.

Article 4

Joint Commission of the Ministry of Economy of the Republic of Latvia and the Ministry of Economy of the Slovak Republic will adopt decisions on trade — economic and scientific—technical co–operation between both Contracting Parties and it will impose to negotiate these at Expert’s Meetings of both industries on given questionable areas.

Article 5

Disputes arising between Contracting Parties regarding interpretation or execution of this Agreement are subject to settlement by mutual negotiation.

Article 6

This Agreement may be altered or amended only against mutual consent of both Contracting Parties, while alterations and amendments must be in written form. Alternations and amendments shall be executed as separate protocols to this Agreement and shall enter in force from the date of its signature by authorised representatives of the Contracting Parties.

Article 7

This Agreement shall take effect from the date of its signature. The Agreement is concluded for indefinite term. However, each of Contracting Parties may notice the Agreement in written. Validity of the Agreement shall terminate in six month after delivery of the statement on notice of the other Contracting Party.

Done in Riga on this 8th day of January 2001 in dublicate copies in the English, Latvian and Slovak language, both texts being equally authentic.

In case of disputes the English language version shall prevail.

For Ministry For Ministry

of Economy of Economy

of the Republic of Latvia of the Slovak Republic