A Trade Agreement Between Czechoslovakia And The Korean People. Dem Rep.

Original Language Title: o Obchodní dohodě mezi ČSFR a Korejskou lid. dem. rep.

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Read the untranslated law here: https://portal.gov.cz/app/zakony/download?idBiblio=39510&nr=467~2F1991~20Sb.&ft=txt

467/1991.



The COMMUNICATION FROM the



the Federal Ministry of Foreign Affairs



The Federal Ministry of Foreign Affairs declares that on 1 May 2004. November

1990 was in Prague signed a trade agreement between the Government of the Czech and

Slovak Federal Republic and the Government of the Democratic People's of Korea

of the Republic. Agreement entered into force on the basis of its article 13 on the day

on January 1, 1991.



The Czech text of trade agreements shall be published at the same time.



TRADE AGREEMENT



between the Government of the Czech and Slovak Federal Republic and the Government of Korea

Democratic People's Republic



Government of the Czech and Slovak Federal Republic and the Government of the Korean people's

Democratic Republic, desiring to develop trade relations between

the two countries on the basis of equality, mutual benefit and respecting

principles of international trade, have agreed as follows:



Article 1



The two parties will be based on their needs and possibilities to seek

the development of bilateral trade relations.



Article 2



Settlement of the claims of both States and salaries specified in the

other articles of this Agreement shall be from 1. January 1991 to perform in

clearing in freely convertible currency, in accordance with the usual conditions in the world

commercial practice and in accordance with the foreign exchange and the other laws in force in the

Czech and Slovak Federal Republic and the Democratic People's of Korea

Republic.



Article 3



The two Contracting Parties shall provide mutual's treatment under the principle of

the highest advantages in foreign trade, including customs duties, maritime

shipping and rail transport.



The above provisions shall not apply to:



1. the benefits already granted or to be granted in the future one of the

the Contracting Parties to neighbouring countries to facilitate frontier-zone trade;



2. the benefits that one of the Parties admitted or in the future

admits participating country belonging to the Customs Union, a free trade zone.



Article 4



1. trade between the two countries will take place in the form of individual

contracts concluded by the competent bodies authorized to foreign

business activities on the basis of the annual indicative nature log

the mutual exchange of goods and services



and selected items) that have a prior interest in the economy both

of the parties;



b) supply and demand between the entities entitled to foreign trade

the activities of both parties;



c) barter operations.



2. The clearing of payments will take place as follows:



and payments for supplies) of goods and services referred to in article. 4, 1a, will be

through the clearing account in USD;



b) payment for the supply of goods and services referred to in article. 4, 1b, will take place

through a special clearing account in USD;



c) payment for the supply of goods and services referred to in article. 4, 1 c, will take place

through specific clearing accounts in freely convertible currencies

currencies to be agreed upon between the entities uzavírajícími contracts.



3. the competent bodies authorised to agree to the foreign trade activities

in contracts the price of goods and services based on current prices

the world's major markets (with regard to quality, parameters, and other

the conditions).



Article 5



Payments under this Agreement shall be carried out on the Czechoslovak side

by československá obchodní Banka, a. s., and Korean

side through the Bank for foreign trade, the Korean people's

Democratic Republic.



For claims of up to 5% of the commodity turnover of mutual deliveries under the

accounts referred to in article 14(2). 4, paragraph 2a, 2b of this agreement will not be charged interest. In

case of exceeding the above mentioned limits will be úročeno per year of debit 5

% for the exceeded amount.



For claims of up to 5% of the commodity turnover of mutual deliveries under the

accounts referred to in article 14(2). 4, paragraph 2 c of this agreement will not be charged interest. In

case of exceeding the above mentioned limits will interest debit

provided for in the inter-bank agreement.



Debit balances incurred as of December 31. 12. the year will be dlužnickou

a party to 30. 6. the following year, offset by the supply of goods or

by reducing the supply of goods by the other party. The authorised banks of both sides

be carried out subsequently up to 30. 8. reconciliation of the same year. Where appropriate, the

arising from balances will be dlužnickou party uhrazeni by 30. 9.

the same year, in effective a freely convertible currency.



Article 6



Československá obchodní banka, a. s., and the Bank for foreign trade

Democratic People's Republic of Korea will conclude within three months from the date of

signature of this agreement, the agreement on the technical way of the interbank

make payments under this agreement.



Article 7



Incurred by the balance in the clearing account at 31 December 2005. 12.1990 to pay debt page

the supply of the goods to the 30. 6. the 1991. Payment of the balance after this date will be

carried out in accordance with the agreement of both parties, the supply of the goods to the 30. 9.

1991. The balance in clearing rubles to 30. 9.1991, will

paid until 31 December 2006. 12.1991 in cash in us dollars according to the exchange rate of the agreed

the two Contracting Parties.



Article 8



To all contracts signed according to art. 4 of this Agreement shall apply

"General conditions for the supply of goods from the Czechoslovak Socialist

States to the Democratic People's Republic of Korea and the Korean people's

Democratic Republic into the Czechoslovak Socialist Republic ".

11.1962, unless the parties agree otherwise.



Article 9



In the interest of the development of trade relations between the two countries are both

the Contracting Parties shall provide mutual assistance in organizing exhibitions of goods

on the territory of the other party, and will promote mutual visits of trade

institutions and groups.



Article 10



Clearing will be done according to the salaries of non-trade agreements concluded by the

the competent authorities of both Contracting Parties.



Article 11



The competent authorities of the Czech and Slovak Federal Republic and Korea

Democratic People's Republic conclude an agreement relating to the maritime

transport.



Article 12



Ministry of foreign trade of the two countries will meet once a year, and

alternately in Pyongyang and in Prague in order to evaluate the implementation

contracts for the year concerned, the conclusion of the annual indicative log

the nature of the mutual exchange of goods and services, and the assessment of practical

matters for the extension and development of mutual trade relations.



Article 13



This agreement shall enter into force on 1 January 2000. January 1991 and will pay three

for years. If one of the Contracting Parties denounces it note three of the agreement in the form

months before the expiry of the time limit, the validity of this Agreement shall be extended

automatically by one year.



Done in Prague on 1 May 2004. 11.1990, in two originals, each in the language

Czech and Korean, both texts being equally authentic.



For the Government of the Czech and Slovak Federal Republic:



Ing. Vaclav Vales v.r.



The Government of the Democratic People's Republic of Korea:



Kim Gave the PP Hjon