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Law No. 104 Of 26 May 1998 On Ratification Of The Trade Agreement Between The Government Of Romania And The Government Of The Republic Of Colombia, Signed At Bucharest On 31 July 1997

Original Language Title:  LEGE nr. 104 din 26 mai 1998 pentru ratificarea Acordului comercial dintre Guvernul României şi Guvernul Republicii Columbia, semnat la Bucureşti la 31 iulie 1997

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LEGE no. 104 104 of 26 May 1998 for the ratification of the Trade Agreement between the Government of Romania and the Government of the Republic of Colombia, signed in Bucharest
ISSUER Parliament
Published in OFFICIAL MONITOR no. 200 200 of 29 May 1998



The Romanian Parliament adopts this law + Article UNIC The Trade Agreement between the Government of Romania and the Government of the Republic of Colombia, signed in Bucharest on July 31, 1997 This law was adopted by the Chamber of Deputies at its meeting on December 8, 1997, in compliance with the provisions of 74 74 para. (2) of the Romanian Constitution. p. ROOM PRESIDENT DEPUTIES ANDREI IOAN CHILIMAN This law was adopted by the Senate at its meeting of 28 April 1998, in compliance with the provisions of art. 74 74 para. (2) of the Romanian Constitution. p. SENATE PRESIDENT CRISTIAN SORIN DUMITRESCU + TRADE AGREEMENT between the Romanian Government and the Government of The Government of Romania and the Government of the Republic of Colombia, animated by the common desire to promote and strengthen trade relations between the two countries, taking into account the possibilities offered by their economies for the continuous development of trade, affirming their commitment to respect multilateral principles and obligations in accordance with those set out in the World Trade Organization (O.M.C.) Establishment Agreement, to which both countries are members, ensuring that their bilateral trade relations will adapt to the obligations and rights arising from the World Trade Organization (O.M.C.) Establishment Agreement and its Annexes, The following: + Article 1 The Parties reaffirm their determination to create favourable conditions for the widening of economic relations and the stimulation of the exchange of goods between natural and/or legal persons authorized to carry out foreign trade operations, in accordance with national legislation of each of the two countries. + Article 2 The parties, for the purpose of facilitating trade, will grant each other the treatment of the most favored nation and will adapt their bilateral trade relations to obligations and rights deriving from the World Organization's Establishment Agreement. Trade (O.M.C.) and its annexed multilateral agreements. + Article 3 The stipulations regarding the treatment of the most favored nation will not apply: a) the advantages and facilities that either party has granted or will grant to any State within the scope of facilitating traffic and border trade; b) the advantages and facilities that either party has granted or will grant to another country or group of countries, as a consequence of its participation in customs unions or free trade zones, economic unions or economic agreements. international, including regional, sub-regional and inter-regional; c) the advantages and facilities that either party has granted or will grant under the trade preferences scheme between developing countries, to which the other party is or will be a signatory; d) the advantages and facilities that either party has granted or will grant to products imported under aid programmes intended for that country by third countries, institutions and other international organisations. + Article 4 The Parties shall ensure, as a matter of exemption or reduction of customs duties, the import of the following items, in accordance with the regulations in force in each of the two countries; a) samples of products, without commercial value, commercial advertising materials and documentary material; b) goods repaired abroad or goods that replace the improper ones qualitatively, returned to the external partners during the warranty period; c) articles and goods for fairs and exhibitions, whenever they have not been sold and returned; d) spare parts delivered free of charge for the resolution of guarantees granted through the contracts completed between authorized persons; e) tools and equipment intended for services in the territory of one of the parties, where they are not sold and returned to their country of origin. + Article 5 Payments deriving from transactions completed under this Agreement shall be made in convertible currencies, in accordance with the foreign exchange rules in force in each of the two parties. + Article 6 With regard to intellectual property, the parties will respect the rules in force in each country, as well as those in the international agreements to which they are members, including those signed in the framework of the World Trade Organization (O.M. C). + Article 7 In order to facilitate trade, the Parties shall, in accordance with their national laws, be able to: a) to organize trade fairs and exhibitions; b) establish representative offices and offices of legal entities authorized to conduct foreign trade operations, applying non-discriminatory treatment to that granted to third countries for the activities of these representatives; c) to constitute commercial companies with equity or mixed capital, mixed banks, technical-commercial offices, service workshops and technical assistance, product and spare parts warehouses, repair shops and other forms of organization that will be agree between natural and/or legal persons from the two countries, authorized to carry out foreign trade operations. The Parties shall facilitate the transit of goods in their territory, in accordance with the legislation in force in those countries. + Article 8 The terms of this Agreement do not affect and will not affect the perfect bilateral or multilateral agreements or which will be perfected and have no effect on the rights and obligations of the parties, resulting from these or other agreements international agreements in force, to which they are a party. + Article 9 Any discrepancies that may arise in the interpretation and application of this Agreement shall be settled amicably, by direct negotiations between the Parties, at the request of either of them, or at meetings of the joint committees. + Article 10 In order to make the terms of this Agreement, the Parties agree to create a joint committee consisting of representatives of the two parties. Representatives of non-governmental organizations and/or interested individuals or legal entities may participate in the work of the joint committee. The joint committee will consider the state of play of bilateral trade. The joint committee will have meetings whenever the circumstances require it, in alternative sessions, in the localities of Bucharest and Bogota, on dates that will be agreed, in advance, by mutual agreement. The parties will establish diplomatically, with an anticipation of 60 (sixty) days compared to the date agreed for the session of the joint committee, its agenda and its working hours. + Article 11 This Agreement shall enter into force 30 (thirty) days from the date of the last notification of the fulfilment of the corresponding internal formalities required for the entry into force of the international agreements. The Agreement will have a validity of 3 (three) years, and may be extended, automatically, for periods of 1 (one) year, unless any of the Contracting Parties communicate in writing to the other Contracting Party its intention to denounce it, with a notice of 6 (six) months from the expiry date of the term of validity. With the date of entry into force of this Agreement it replaces the Trade Agreement between the Government of the Socialist Republic of Romania and the Government of the Republic of Colombia, signed in Bucharest on All commercial operations agreed during the period of validity of the said agreement above and not fully realized until the date of entry into force of this trade agreement will continue to be subject to compliance with the terms set out in the Agreement under which they were agreed. + Article 12 The Contracting Parties agree to designate as bodies responsible for the execution of this Agreement the Ministry of Industry and Trade, on the part of Romania, and the Ministry of Foreign Trade, from the Republic of Colombia. + Article 13 The provisions laid down in this Agreement shall continue to apply to the trade operations agreed upon and not fully realised on the expiry date. + Article 14 Signed in Bucharest on July 31, 1997, in two original copies, one in Romanian and another in Spanish, both texts being equally valid. For the Romanian Government, Calin Popescu-Tariceanu For the Government of Colombia, Carlos Eduardo Ronderos Torres -----------