Communication from the Ministry of Foreign Affairs No. 63 / 1994 Coll.
Communication from the Ministry of Foreign Affairs on the negotiation of the Trade Economic Agreement between the Government of the Czech Republic and the Government of the People's Republic of China
Valid
Effective from 25.02.1994
Text versions:
31.03.1994
63
COMMUNICATION
Ministry of Foreign Affairs
The Ministry of Foreign Affairs states that a Trade Economic Agreement between the Government of the Czech Republic and the Government of the People's Republic of China was signed in Beijing on 2 November 1993.
The Agreement entered into force on 25 February 1994 pursuant to Article 11 (1) thereof. The Trade Agreement between the Government of the Czech and Slovak Federal Republic and the Government of the People's Republic of China of 28 September 1990, published under No 409 / 1991 Coll.
The Czech version of the Agreement shall be published simultaneously.
COMMERCIAL ECONOMIC AGREEMENT
between the Government of the Czech Republic and the Government of the People's Republic of China
The Government of the Czech Republic and the Government of the People's Republic of China ("the Parties') in order to strengthen friendly cooperation between the two countries and to develop bilateral commercial economic relations on the basis of equality and mutual benefit,
agree as follows:
Both Parties shall, according to their interests and possibilities, implement all necessary measures to contribute to the continuous and stable development of commercial economic relations between the two countries.
The two Contracting Parties shall grant each other the most favourable tariff and taxation clauses relating to the export and import of goods and the processing of customs administrative formalities.
The above provision shall not apply to:
(a) advantages already granted or to be granted in future by one of the Contracting Parties to neighbouring countries in order to facilitate border trade;
(b) benefits granted or in the future by one of the Contracting Parties to the customs union and / or free trade area Member State.
With regard to the promotion and protection of investors' investment in the territory of one Party, both Parties will proceed under the Agreement on the promotion and protection of investment applicable between the two countries.
To the extent permitted by the laws and regulations in force in their countries, both Parties will create appropriate conditions for the development of various forms of commercial economic cooperation between Czech entities and Chinese companies and businesses.
All commercial economic activities between the two countries will be carried out on the basis of contracts concluded in accordance with the provisions of this Agreement, the laws and regulations in force in both countries, in accordance with international trade practices and taking into account prices on international markets, between Czech entities and Chinese companies and businesses authorised to trade abroad.
Full liability for the obligations and disputes arising from these contracts shall be borne and dealt with by the contractors concerned.
All payments resulting from commercial contracts will be made in freely convertible currencies in accordance with the foreign exchange regulations in force in the Czech Republic and the People's Republic of China. This provision does not preclude the possibility for counterparties to conduct exchanges and other forms of trade under the laws and regulations of their countries.
In order to develop commercial economic relations, the Parties will support the organisation of trade fairs, exhibitions, commercial economic and technical symposia and visits to commercial economic delegations and groups.
Each Party shall, in accordance with its laws and regulations, allow companies, undertakings and entities of the other Party engaged in commercial economic activities to establish accredited representations on its territory and to carry out their activities.
The Parties agree to establish a Joint Commission on Trade Economic Cooperation between the two countries.
The Presidents of the Joint Commission will be at the level of the directors of ministerial trade unions dealing with external economic relations.
The main tasks of the Joint Commission shall be:
- contribute to the implementation of this Agreement;
- make proposals to governments on the development of bilateral commercial economic relations;
- assess and address the problems that may arise in commercial economic activities in both countries to contribute effectively to the expansion of commercial economic relations;
- to promote the mutual exchange of information on the commercial economic situation and laws in both countries;
- to monitor the state of implementation of this Agreement.
The Joint Commission will meet as needed by both parties, usually once a year, alternately in Prague and Beijing.
With the entry into force of this Agreement, the Trade Agreement between the Government of the Czech and Slovak Federal Republic and the Government of the People's Republic of China of 28 September 1990 expires in relations between the Czech Republic and the People's Republic of China.
Both Parties shall notify each other of the fulfilment of the constitutional requirements of their countries for the entry into force of this Agreement. This Agreement shall enter into force 30 days after the date of the second notification.
The Agreement shall remain in force for a period of 5 years and shall be automatically extended for a further year, unless one Party denies it in writing 6 months before its expiry.
This Agreement may be amended or supplemented by mutual agreement of the Contracting Parties.
Upon termination of this Agreement, its provisions shall continue to apply to contracts which were signed at the time of its validity until their full implementation.
Done at Beijing, 2 November 1993, in two original copies in the Czech and Chinese languages, the two texts being equally authentic.
For the Government
Czech Republic:
Ing. Vladimir Long CSc. v. r.
Minister for Industry and Trade
For the Government
Republic of China:
Wu Yi v. r.
Minister for Foreign Trade
and economic cooperation
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Regulation Information
| Citation | Communication from the Ministry of Foreign Affairs No. 63 / 1994 Coll., on the negotiation of the Trade Economic Agreement between the Government of the Czech Republic and the Government of the People's Republic of China |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 31.03.1994 |
|---|---|
| Effective from | 25.02.1994 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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