Decree of the Minister for Foreign Affairs No. 38 / 1978 Coll.
Decree of the Minister for Foreign Affairs on the Long-term Trade and Payment Agreement between the Czechoslovak Socialist Republic and the Republic of Iceland
Valid
Effective from 16.01.1978
38
DECLARATION
Minister for Foreign Affairs
of 27 February 1978
on the Long-term Trade and Payment Agreement between the Czechoslovak Socialist Republic and the Republic of Iceland
On 1 September 1977, the Long-term Trade and Payment Agreement between the Czechoslovak Socialist Republic and the Republic of Iceland was signed in Reykjavik. The Agreement entered into force pursuant to Article 8 thereof on 16 January 1978.
The Czech translation of the Agreement is announced simultaneously.
Minister:
Ing. Chupek v. r.
LONG-TERM TRADE AND PAYMENT AGREEMENT
between the Czechoslovak Socialist Republic and the Republic of Iceland
Government of the Czechoslovak Socialist Republic and Government of the Republic of Iceland
led by desire to deepen and promote the development of trade between the two countries on the basis of equality and mutual benefits
confirming its decision to seek economic cooperation and to implement the principles and provisions of the Final Act of the Conference on Security and Cooperation in Europe
Taking into account the principles of the General Agreement on Tariffs and Trade to which both countries are Contracting Parties
they have agreed as follows:
The exchange of goods between the two countries shall be carried out in accordance with the provisions of this Agreement, the rules of the General Agreement on Tariffs and Trade and the internal rules in force in each of the two countries applied in accordance with those Agreements.
The Government of the Czechoslovak Socialist Republic and the Government of the Republic of Iceland shall take all necessary measures to extend the exchange of goods as widely as possible between the two countries.
In the case of the application of quantitative restrictions on the import and export of goods, both governments shall not grant each other worse treatment than that of another GATT Contracting Party.
The exchange of goods and services between the Czechoslovak Socialist Republic and the Republic of Iceland will be carried out on the basis of contracts concluded between Czechoslovak legal persons authorised under the Czechoslovak laws to conduct foreign trade on the one hand and legal and natural persons established in Iceland on the other.
All current payments between the two countries shall be made in freely convertible currencies in accordance with the general foreign exchange rules applicable in each of the two countries. Czechoslovak Commercial Bank a. s. and Seölabanki Islands agree on the necessary technical arrangements.
A Joint Commission is hereby set up to monitor the implementation of this Agreement and to seek ways and means to remove barriers which may arise in trade between the two countries and to submit proposals that would facilitate the development of economic relations between the Parties.
The Joint Committee shall meet, as far as possible, once a year at the request of one of the Contracting Parties at any time within 2 months of such request. The meetings will take place alternately in Prague and Reykjavik.
This Agreement replaces the Long-term Trade and Payment Agreement between the Czechoslovak Socialist Republic and the Republic of Iceland signed in Reykjavik on 12 October 1971.
This Agreement shall enter into force on the date of the exchange of notes confirming that it has been approved in accordance with the constitutional requirements of both countries and shall remain in force until 31 December 1982.
The validity of this Agreement shall be extended by one year in silence unless one of the Contracting Parties denies it six months before its expiry.
Published in Reykjavik on 1 September 1977 in two originals in English.
For the Government
Czechoslovak Socialist Republic:
Ing. Jaroslav Jakubec
For the Government
Republic of Iceland:
Olafur Jóhannesson
Sign in for notes, favorites and notifications
Regulation Information
| Citation | Decree of the Minister for Foreign Affairs No. 38 / 1978 Coll., on the Long-term Trade and Payment Agreement between the Czechoslovak Socialist Republic and the Republic of Iceland |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 25.04.1978 |
|---|---|
| Effective from | 16.01.1978 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
Comments 0