(Declared Finished) Whereby The "trade Agreement Between The Government Of The Republic Of Colombia And The Government Of The Republic Of Hungary" Is Approved, Signed In Budapest On June 18, 1993

Original Language Title: (Declarado Terminado) Por la cual se aprueba el "Convenio Comercial entre el Gobierno de la República de Colombia y el Gobierno de la República de Hungría", suscrito en Budapest el 18 de junio de 1993

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LAW 249
1995 (December 29)
Official Gazette No. 42,171., Of December 29, 1995
Through which the "Trade Agreement is approved between the Government of the Republic of Colombia and the Government of the Republic of Hungary ", signed in Budapest on 18 June 1993. Summary

Term Notes
CONGRESS OF COLOMBIA DECREES
:
having regard to the text of the "Trade Agreement between the Government of the Republic of Colombia and the Congress of the Republic of Hungary", signed in Budapest on June 18, 1993 .
Trade Agreement between the Government of the Republic of Colombia and the Government of the Republic of Hungary.
The Government of the Republic of Colombia and the Government of the Republic of Hungary, animated by the desire to promote and strengthen trade relations between the two countries based on the principles of respect for national sovereignty, equality rights and mutual benefit, have agreed as follows: ARTICLE 1o
. The Contracting Parties, within the framework of existing laws in both countries, consistent with the rights and obligations under the General Agreement on Tariffs and Trade (GATT) and with the provisions of this Convention, promote and facilitate the development of trade between the two countries.
Article 2.
. The Contracting Parties shall grant from the entry into force of this Convention, treat each other the most favored nation under GATT rules.

ARTICLE 3. Natural and legal persons of the two parties formalized contracts based on this Convention, with reference to international market prices.

ARTICLE 4. Payments between the two countries shall be made in freely convertible currency in accordance with legal regulations in force in each country.

The 5th ITEM. In order to encourage trade relations between the two countries, the Contracting Parties will grant each other the necessary facilities for organizing trade fairs and exhibitions.

ARTICLE 6o. Contracting Parties shall authorize the import and export free of customs duties, taxes and other charges of this type, according to the regulations in force in each of the two countries, of the following items:
a) Samples of products and materials trade advertising necessary to obtain orders and for advertising purposes;
B) goods to be shipped to be replaced, as long as the substitute items are returned;
C) Articles and goods for exhibitions and permanent exhibitions organized or temporarily, provided such articles and goods shall not be sold;
D) Parts supplied free guarantees granted in compliance;
E) Tools and equipment for services in the territory of one of the Contracting Parties, provided they are not sold.

ARTICLE 7. The Contracting Parties shall establish a Joint Commission in order to ensure proper implementation of this Convention, promote the development of trade relations, strengthen the spirit of cooperation hold consultations on specific issues of commercial interest to the Parties.
The Joint Commission shall be composed of authorized representatives of both Contracting Parties and shall meet as needed, alternately in the city of Bogota and the city of Budapest, on the date mutually agreed.

Article 8. The Contracting Parties agree to designate as bodies responsible for the implementation of this Convention by the Republic of Colombia, the Ministry of Foreign Trade and the part of the Republic of Hungary, the Ministry of International Economic Relations.

Article 9.
1. Disputes concerning the interpretation or application of this Agreement shall be settled through direct consultations between the organizations mentioned in Article VIII or through the diplomatic channel.
2. Disputes arising from contracts concluded within the framework of this Agreement shall be resolved in accordance with the provisions of such contracts.

ARTICLE 10. This Agreement shall be approved by the constitutional regulations of the Contracting Parties and shall enter into force thirty (30) days after the exchange of diplomatic notes respective approval.


ARTICLE 11. This agreement will last three (3) years and may be automatically extended for equal periods unless either Contracting Party gives notice in writing to the other of its intention to terminate it in advance of six (6) months from the date of the expiration of the term.

ARTICLE 12. The provisions of this Convention shall also apply to contracts concluded during its validity and executed after it expires.

ARTICLE 13. At the time of the entry into force of this Agreement and the Trade Agreement signed in payments Bogota repealing the December 6, 1967 between the Government of the Republic of Colombia and the Government of the Republic Hungary.
Done in Budapest, on the 18th day of June 1993
in two copies in the Spanish and Hungarian languages, both texts being equally valid
texts.
For the Government of the Republic of Colombia.
For the Government of the Republic of Hungary.
(Illegible signatures).
The undersigned Head of the Legal Office
Ministry of Foreign Affairs DECLARES
:
That this faithful reproduction is taken from the original copy of the Commercial 2Convenio between the Government of the Republic of Colombia and the Government of the Republic of Hungary ", signed in Budapest on June 18, 1993, which is on file in the Office of the Ministry
Given in Bogota, DC, on the twenty (22) days. | || of February in 1994 (1994)
the Head of the Legal Office,

VARELA HECTOR ADOLFO Sintura Executive Branch of Public Power -... President of the Republic || | Bogotá, DC, March 18, 1994 Approved
Undergo
consideration of the honorable National Congress for constitutional purposes
(Sgd.) César Gaviria Trujillo
Minister of... Foreign
(Sgd.)
RUBIO Noemi Sanin DECREES..
I ARTICLE 1A Approval of the "Trade Agreement between the Government of the Republic of Colombia and the Government of the Republic of Hungary", signed in Budapest on 18 June 1993. ARTICLE
2A. In accordance with the provisions of article 1. 7a Act. 1944, the "Trade Agreement between the Government of the Republic of Colombia and the Government of the Republic of Hungary", signed in Budapest on June 18, 1993, that article 1. of this Act is approved, it will force the country from the date the international link is perfect therefrom.
ARTICLE 3A. This Law governs from the date of publication.
The President of the honorable Senate, JULIUS CAESAR
Tulena WAR.
The Secretary General of the honorable Senate,
PUMAREJO PEDRO VEGA.
The President of the honorable House of Representatives,
Rodrigo Rivera Salazar.
The Secretary General of the honorable House of Representatives, DIEGO VIVAS
TAFUR.
REPUBLIC OF COLOMBIA - NATIONAL GOVERNMENT
communication and publication. Run
prior review by the Constitutional Court,
under Article 241-10 of the Constitution.
Given in Bogota, DC on December 29 1995.

Ernesto Samper Pizano Minister of Foreign Affairs,
RODRIGO PARDO GARCÍA-PEÑA.
The Minister of Foreign Trade, Luis Alfredo Ramos Botero




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