Key Benefits:
1995 ACT 249
(December 29)
Official Journal No. 42,171., of December 29, 1995
By means of which 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, is approved.
THE CONGRESS OF COLOMBIA,
DECRETA:
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 18 June 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, encouraged by the desire to promote and strengthen trade relations between the two countries, on the basis of the principles of respect for national sovereignty, equal rights and mutual benefit, have agreed on the following:
ARTICLE 1. The Contracting Parties, within the framework of the laws in force in the two countries, in accordance with the rights and obligations provided for in the General Agreement on Tariffs and Trade (GATT), as well as with the provisions of this Convention, shall encourage and facilitate the development of trade between the two countries.
ARTICLE 2o. The Contracting Parties shall be granted from the entry into force of this Convention, reciprocally the treatment of the most favoured nation in accordance with the GATT rules.
ARTICLE 3o. The natural and legal persons of the two Parties shall form contracts on the basis of this Convention, taking as a reference the prices of the international market.
ARTICLE 4. The payments between the two countries will be made in freely convertible currency, in accordance with the legal regulations in force in each of the countries.
ARTICLE 5o. In order to encourage commercial relations between the two countries, the Contracting Parties shall grant each other the necessary facilities for the organization of trade fairs and exhibitions trade.
ARTICLE 6o. The Contracting Parties shall authorize the free import and export of customs duties, taxes and other such charges, in accordance with the regulations in force in each of the Contracting Parties. two countries, of the following articles:
a) Samples of commercial advertising products and materials needed to obtain orders and for advertising purposes;
b) Goods to be shipped in order to be replaced, as long as the replacement items are returned;
(c) Articles and goods for permanent or temporary trade fairs and exhibitions, provided that such articles and goods are not sold;
(d) Reps provided free of charge in respect of guarantees granted;
(e) Tools and equipment intended for services in the territory of one of the Contracting Parties, provided that they are not sold.
ARTICLE 7o. The Contracting Parties establish a Joint Commission in order to ensure the correct implementation of this Convention, to promote the development of trade relations, to strengthen the spirit of the (a) Cooperation shall have consultations on specific issues of a commercial nature of interest to the Parties.
The Joint Committee will be composed of authorized representatives of both Contracting Parties and will meet according to needs, alternately in the city of Santafe of Bogota and in the city of Budapest, on the mutually agreed date.
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 the Republic of Hungary, to the Ministry of International Economic Relations.
1. Disputes concerning the interpretation or application of this Convention shall be resolved by direct consultations between the bodies referred to in Article VIII or through diplomatic channels.
2. Disputes arising from contracts concluded within the framework of this Convention shall be settled in accordance with the provisions of those contracts.
ARTICLE 10. This Convention shall be approved in accordance with the constitutional regulations of the Contracting Parties and shall enter into force at thirty (30) days after the exchange of their respective diplomatic notes the approval.
ARTICLE 11. This Convention shall be for a duration of three (3) years, and may be automatically extended for equal periods, unless one of the Contracting Parties communicates in writing to the other the intention to terminate it, in advance of six (6) months to the date of expiry of the term.
ARTICLE 12. The provisions of this Convention shall also apply to contracts concluded during their lifetime and made after their expiration.
ARTICLE 13. At the time of the entry into force of this Convention, the Trade and Payment Agreement signed at Santafe in Bogotá, on 6 December 1967 between the Government of the Republic of Colombia, is repealed. and the Government of the Republic of Hungary.
Done in Budapest, 18 days of the month of June 1993,
in two copies in the Spanish and Hungarian languages,
being both texts equally valid.
By the Government of the Republic of Colombia.
By the Government of the Republic of Hungary.
(Unreadable signatures).
The undersigned Head of the Legal Office
from the Ministry of Foreign Affairs,
NOTES:
That the present reproduction is a faithful photocopy taken from the original of the 2Convention between the Government of the Republic of Colombia and the Government of the Republic of Hungary ", signed in Budapest on 18 June 1993, which is based on the of the Office of this Ministry.
Dada en Santafe de Bogota, D.C., at twenty-two (22) days
of the month of February of a thousand nine hundred and ninety-four (1994).
The Head of the Legal Office,
HECTOR ADOLFO SINTURA VARELA.
Executive Branch of Public Power-Presidency of the Republic.
Santafe de Bogota, D.C., March 18, 1994
Approved. Submit to the honorable consideration
National Congress for Constitutional Effects.
(Fdo.) CESAR GAVIRIA TRUJILLO.
The Foreign Minister,
(Fdo.) NOEMI SANIN DE RUBIO.
DECRETA:
ARTICLE 1A. Approve 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. Pursuant to article 1o. of Law 7a. In 1944, 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, as provided for in Article 1. of this Law is approved, will force the country from the date on which the international link with respect to it is perfected.
ARTICLE 3A. This Law governs from the date of its publication.
The President of the honorable Senate of the Republic,
JULIO CESAR GUERRA.
The Secretary General of the honorable Senate of the Republic,
PEDRO PUMAREJO VEGA.
The President of the honorable House of Representatives,
RODRIGO RIVERA SALAZAR.
The Secretary General of the honorable House of Representatives,
DIEGO VIVAS TAFUR.
COLOMBIA-NATIONAL GOVERNMENT
Contact and post.
Execute previous Constitutional Court review,
pursuant to article 241-10 of the Political Constitution.
Dada en Santafe de Bogota, D.C. a 29 december 1995.
ERNESTO SAMPER PIZANO
The Foreign Minister,
RODRIGO PARDO GARCIA-PENA.
The Minister of Foreign Trade,
LUIS ALFREDO RAMOS BOTERO
