Decree No 27 / 1976 Coll.
Decree of the Minister for Foreign Affairs on the Trade Agreement between the Government of the Czechoslovak Socialist Republic and the Government of the Republic of Sri Lanka
Valid
Effective from 05.08.1975
27
DECLARATION
Minister for Foreign Affairs
of 22 October 1975
on the Trade Agreement between the Government of the Czechoslovak Socialist Republic and the Government of the Republic of Sri Lanka
On 7 January 1975, the Trade Agreement between the Government of the Czechoslovak Socialist Republic and the Government of the Republic of Sri Lanka was signed in Prague and entered into force on 5 August 1975, pursuant to Article IX thereof.
The Czech translation of the Agreement is announced simultaneously.
Minister:
Ing. Chupek v. r.
TRADE AGREEMENT
between the Government of the Czechoslovak Socialist Republic and the Government of the Republic of Sri Lanka
The Government of the Czechoslovak Socialist Republic and the Government of the Republic of Sri Lanka, wishing to expand and strengthen economic and trade relations between the two countries on the basis of equality and mutual advantages,
they have agreed as follows:
The Parties shall endeavour to develop mutual trade and economic relations within the framework of the laws and regulations in force in each country. In order to achieve this objective, they will exchange views and assess the proposals of either Party.
The exchange of goods between the two countries shall be carried out in accordance with the rules of the General Agreement on Tariffs and Trade with this Agreement.
The Contracting Parties shall grant each other treatment under the most favoured nation clause as regards:
(a) Customs duties, duties, taxes and other levies and the manner in which they are collected;
(b) The rules, formalities and issuing of export and import licences relating to the import and export of goods and services;
(c) Transfer of payments for export and import of goods and services.
Article II shall not apply to preferential treatment which one or the other Party may grant:
(a) neighbouring countries to facilitate border trade;
(b) through a customs union or a free trade area to which one or the other Party is or may become a member in the future, or an interim agreement leading to the establishment of a customs union or a free trade area to which one or the other Party may enter;
(c) under regional or other types of economic cooperation or integration or interim arrangements leading to them.
Ships, their crew, passengers and the costs of any of the Contracting Parties shall be treated no less favourable in ports or national sea waters of the other Contracting Party than any other country. This will not apply to coastal shipping, inland shipping and fishing.
The two Contracting Parties shall provide each other with the necessary services to enable the carriage of goods covered by this Agreement by ships owned or leased by the other Contracting Party.
All payments between the Contracting Parties resulting from the exchange of goods and services, as well as any other payments, shall be expressed and made in freely convertible currency agreed upon by the contractual partners of each transaction.
Each Party shall exempt from customs duties and other fiscal levies the following goods originating in the other Party:
(a) catalogues, price lists, brochures and other advertising material, including films, the object of which is goods offered for sale on the market of the importing party;
(b) commercial samples not intended for sale;
(c) goods and materials for permanent or temporary fairs and exhibitions not intended for sale;
(d) goods returned after repair, improvement or processing up to their original value.
The Contracting Parties may consult each other on any matter arising from or in connection with the implementation of this Agreement.
The provisions of this Agreement shall apply, even after its expiry, to contracts concluded during its period of validity which are not fully settled on its expiry date.
This Agreement shall be approved and, where appropriate, ratified in accordance with the laws in force in each of the two countries. It shall enter into force on 1 February 1975 and shall enter into force on the date of exchange of documents confirming the approval and, where appropriate, ratification of this Agreement by both Contracting Parties.
This Agreement shall remain in force for a period of five years unless either Party notifies the other in writing its intention to terminate this Agreement 90 days before the expiry of the abovementioned period of five years. The Agreement shall be automatically extended for a further period of one year. At the request of either Party, this Agreement may be revised by mutual consent.
This Agreement replaces the Trade and Payment Agreement between the Czechoslovak Socialist Republic and the Republic of Sri Lanka of 14 July 1972.
Written in Prague on 7 January 1975, in two copies in English, the two texts being equally authentic.
For the Government
Czechoslovak Socialist Republic:
Vladimir Kirshbaum v. r.
For the Government
Republic of Sri Lanka:
Kiri Banda Dissanyake v. r.
Prague, January 7, 1975
Excellency,
During the negotiations that led to the signing of the Trade Agreement between the Government of the Republic of Sri Lanka and the Government of the Czechoslovak Socialist Republic from today's date, it was noted that the provisions on the liquidation of two accounts held by the Central Bank of Ceylon and the Czechoslovak Commercial Bank under the Payment Agreement of 14 July 1972 are contained in Article 9 of the Payment Agreement. However, the following was further agreed:
The debtor party shall balance the net balance by exporting goods during the six-month period ending on 31 July 1975. If, on expiry of that period, the balance remains outstanding, the debtor party shall pay the balance as soon as the creditor has requested in a freely convertible currency.
As from 1 February 1975, payments between the Republic of Sri Lanka and the Czechoslovak Socialist Republic shall be made in freely convertible currencies, excluding the payments referred to in the preceding paragraph, without regard to the dates of commercial contracts.
The Central Bank of Ceylon and the Czechoslovak Commercial Bank agree on a suitable bank procedure to properly implement the above measures.
Excellency, I would be grateful if you would kindly confirm that this letter correctly expresses the agreement reached between us.
Please, Excellency, accept my assurance of my deep respect.
Respectfully
Kiri Banda Dissanyake v. r.
The Head of the Trade Delegation
Republic of Sri Lanka
The Head of the Trade Delegation
Czechoslovak Socialist Republic
Prague
Prague, January 7, 1975
Excellency,
I would like to confirm receipt of your letter of today's date stating:
"During the negotiations which led to the signing of the Trade Agreement between the Government of the Republic of Sri Lanka and the Government of the Czechoslovak Socialist Republic from today's date, it was noted that the provisions on the liquidation of two accounts held by the Central Bank of Ceylon and the Czechoslovak Commercial Bank under the Payment Agreement of 14 July 1972 are contained in Article 9 of the Payment Agreement. However, the following was further agreed:
The debtor party shall balance the net balance by exporting goods during the six-month period ending on 31 July 1975. If, on expiry of that period, the balance remains outstanding, the debtor party shall pay the balance as soon as the creditor has requested in a freely convertible currency.
As from 1 February 1975, payments between the Republic of Sri Lanka and the Czechoslovak Socialist Republic shall be made in freely convertible currencies, excluding the payments referred to in the preceding paragraph, without regard to the dates of commercial contracts.
The Central Bank of Ceylon and the Czechoslovak Commercial Bank agree on a suitable bank procedure to properly implement the above measures.
Excellency, I would be grateful if you would kindly confirm that this letter correctly expresses the agreement reached between us.
Please, Excellency, accept the assurance of my deep respect. "
Excellency, I would like to confirm that the above precisely expresses the Convention between us.
Please, Excellency, accept my assurance of my highest consideration.
Respectfully
Vladimir Kirshbaum v. r.
The Head of the Trade Delegation
Czechoslovak Socialist Republic
The Head of the Trade Delegation
Republic of Sri Lanka
Prague
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Regulation Information
| Citation | Decree of the Ministry of Foreign Affairs No. 27 / 1976 Coll., on the Trade Agreement between the Government of the Czechoslovak Socialist Republic and the Government of the Republic of Sri Lanka |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 29.03.1976 |
|---|---|
| Effective from | 05.08.1975 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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