Law No. 169 Of 25 November 1999 On The Ratification Of The Trade Agreement Between The Government Of Romania And The Government Of People's Republic Of Bangladesh, Signed At Bucharest On 15 September 1997

Original Language Title:  LEGE nr. 169 din 25 noiembrie 1999 pentru ratificarea Acordului comercial dintre Guvernul României şi Guvernul Republicii Populare Bangladesh, semnat la Bucureşti la 15 septembrie 1997

Read the untranslated law here: https://www.global-regulation.com/law/romania/3071659/-lege-nr.-169-din-25-noiembrie-1999-pentru-ratificarea-acordului-comercial-dintre-guvernul-romniei-i-guvernul-republicii-populare-bangladesh%252c-semnat.html

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Law No. 169 of 25 November 1999 on the ratification of the trade agreement between the Government of Romania and the Government of people's Republic of Bangladesh, signed at Bucharest on 15 September 1997 PARLIAMENT ISSUING published in MONITORUL OFICIAL nr. 586 of 2 December 1999, the Romanian Parliament adopts this law.


The sole article Shall ratify the trade agreement between the Government of Romania and the Government of people's Republic of Bangladesh, signed at Bucharest on 15 September 1997.
This law was adopted by the Senate at its meeting on 27 September 1999, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. PRESIDENT of the SENATE, DANIELS T this law was adopted by the Chamber of deputies at its meeting on 1 November 1999, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. CHAMBER of DEPUTIES PRESIDENT, Andrew John CHILIMAN TRADE AGREEMENT between the Government of Romania and the Government of people's Republic of Bangladesh) Government and the Government of people's Republic of Bangladesh, hereinafter referred to as the Contracting Parties, desiring to create favorable conditions to promote and intensify trade between the two countries on the basis of equality and mutual benefit, based on the principles and mechanisms of market economy and liberalization of trade and being convinced that they will allow a wider perspective and a diversification of trade between individuals individuals and legal entities of the two countries, authorized to carry out foreign trade acts in accordance with their national legislation, taking into account the bilateral trade relations, of the Marrakesh Agreement of principles establishing the World Trade Organization in which both countries are members, being convinced that a new agreement will create favorable and an appropriate framework for accelerating the development and expansion of trade between individuals and legal entities which are authorised in their countries , have agreed as follows: Article 1 the Contracting Parties reaffirm their determination to expand bilateral trade relations in accordance with the provisions of this agreement, with their goals of economic development and with the laws and regulations in force in their countries. To this end they shall take appropriate measures and will use all the means that come into their powers to encourage, facilitate and develop long-term and at the highest possible level of trade in goods and services, as well as economic cooperation between natural and legal persons authorized to carry out foreign trade acts.

(1) to facilitate the exchange of goods and Services Contracting Parties grant each other their most-favoured-nation treatment.
  

(2) most-favoured-nation Treatment referred to in paragraph (1) does not apply to concessions, privileges or advantages to which one of the Contracting Parties be granted or will grant them: to neighbouring countries to facilitate) trafficking and cross-border trade;
  

b) countries participate, along with one of the parties, to a Customs Union or a free trade area or preferential agreements or in a regional economic organization which exists at present or will be created and to which the other Contracting Party shall not participate;
  

(c) the importation of goods), under aid programmes provided to one or other of the two countries by third bodies, institutions and other international organizations.
  


Article 2 the Contracting Parties shall act for a better knowledge and use by individuals and legal entities authorized under the provisions of the agreement on the global System of trade preferences among developing countries, concluded in Belgrade on April 13, 1988, and the provisions contained in the Protocol of 16 ".


Article 3 in order to achieve the exchange of goods and services under this agreement, the Contracting Parties shall facilitate and will encourage legal and natural persons authorized in their countries to conclude directly among themselves commercial contracts and specific agreements, including long-term, in line with international practice in terms of price, quality, delivery and terms of payment.


Article 4 Prices for goods and services delivered under this agreement will be established through direct negotiations between the parties to the contract, on the basis of the prices charged in convertible currency on the world market for goods or services which are similar in terms of international competitiveness.


Article 5 Payments for commercial transactions of goods and services, completed by authorized individuals and businesses from the two countries, will be made freely convertible currency, as recommended by the International Monetary Fund, in accordance with the laws and regulations in force at the time of payment in each of the two countries.


Article 6 in the light of the importance of both funding and granting credits for the development of bilateral trade, the Contracting Parties shall endeavour to ensure that such financing and loans to be granted in mutually advantageous conditions.


Article 7 the Contracting Parties in accordance with their laws and regulations, as well as with the internal provisions of international agreements to which they are parties, will exempt import duties on the following categories of goods: a) samples without commercial value, advertising materials, advertising and documentation;
  

b) goods have been repaired abroad or goods shall replace the defective quality partners, returned during warranty;
  

c) donations and assistance with social, humanitarian, cultural, sports and relaxation.
  

— — — — — — — — — — — — — * Note) Translation Assets and products referred to in (b). ) and c) must be sent without payment obligations, may not be marketed or used for later benefits, income and profit to be included in the heritage and registered in the record of the natural or legal person authorised in the importing. They will be used only for the purposes for which they were imported. In cases where they are used for other purposes or are capitalized the importing country's market will apply customs rules in force in that country, including customs duties.


Article 8 the Contracting Parties shall take the necessary measures in accordance with their own legislation and with the provisions of international agreements to which they are parties, to ensure that their territories, to protect other products originating in the country of any form of unfair competition in commercial transactions.
The Contracting Parties agree to ensure the protection of and respect for the regime's trademarks, copyrights, trade secrets and designs (topographies) of integrated circuits for Assembly, which are owned by partners in the other country, in accordance with the specific legislation in force in each country and in compliance with their obligations under international agreements relating to intellectual property and trademarks of industrial factory and trade.


Article 9 the Contracting Parties shall encourage and facilitate contacts between individuals and businesses from the two countries, inter alia through the exchange of visits of delegations of businessmen, participation in fairs and exhibitions, the exchange of information.
They will encourage the opening of representative offices of foreign trade organizations, corporations, businesses, banks, etc. within the territories of the two countries, in accordance with the laws and regulations of each country.


Article 10 each Contracting Party shall grant, in accordance with its laws and regulations as well as with the international agreements to which it is party, common facilities and non-discriminatory transit on its territory of goods originating in the territory of other countries and its intended.


Article 11 the provisions of this Agreement shall not be construed as preventing the adoption and compliance by each Contracting Party of measures necessary for: (a) protecting public morality);
  

b) application laws and regulations concerning national security;
  

(c) the protection of life and health) of humans, animals and plants;
  

d) national heritage protection with artistic, historic and archaeological value.
  


Article 12 the parties affirmed their interest to resolve amicably any disputes arising out of commercial transactions entered into by authorized individuals and businesses in their countries, on the basis of this agreement.
If the amicable settlement is not feasible, the parties to the dispute will be able to have recourse to a Court of arbitration. Such a way of settlement can be established by contracts or other agreements to be concluded separately between natural and legal persons concerned from the two countries.


Article 13 the Contracting Parties recognize the importance of increasing economic sector services and agree to consult on matters relating to the promotion and development of trade in this sector between authorized individuals and businesses from the two countries and issues of mutual interest relating to the specific areas in question.


Article 14 the provisions of this Agreement shall not affect and shall not affect existing bilateral or other arrangements which will be terminated and any rights and obligations of the Contracting Parties to which they are parties.


Article 15 the Contracting Parties, in accordance with the policies and their objectives, they can collaborate on bilateral or multilateral commercial problems of common interest.

The Contracting Parties agree to consult each other promptly, through appropriate channels at the request of any of them, on matters concerning the interpretation and application of this agreement or on other issues that have arisen as a result of its implementation.


Article 16 In order to carry out the provisions of this agreement and of questions relating to its implementation, the Government designates the Ministry of industry and commerce, people's Republic of Bangladesh and the Government designates the Ministry of Commerce.
Each Contracting Party shall have the right to designate in writing, at any time, any other appropriate institution, organization or Ministry in place of designated pursuant to the preceding subparagraph, notifying the other Contracting Party of this fact.


Article 17 this Agreement shall enter into force on the date of the last notification by the Contracting Parties shall communicate to each other that the legal requirements have been fulfilled in their countries regarding entry into force of international agreements. This agreement shall be valid for a period of 5 years, after which it will be automatically extended for successive periods of two years, unless one of the Contracting Parties would notify, in writing, the other Contracting Party of its intention to terminate the agreement with 90 days prior to the expiration of each period of validity.
This agreement may be amended or supplemented, by mutual agreement, at the request of any of the Contracting Parties.
Modifying, supplementing or denunciation of this Agreement shall not affect the rights and obligations of natural and legal persons authorised, resulting from contracts concluded during the term of the agreement, that have not been completely executed up to the date of the amendment, supplement or denunciation.


Article 18 entry into force of this agreement lapses general trade agreement between the Government of the Socialist Republic of Romania and the Government of the people's Republic of Bangladesh, signed at Bucharest on 6 October 1978.
If, however, the ceasing of the 1978 trade agreement generally remain neindeplinite, including contracts outstanding payments, these will be met under the conditions laid down by it.
Done at Bucharest on 15 September 1997, in two originals in the English language, both of which are equally authentic.
For the Government of Romania, Calin Popescu Tariceanu, Minister of industry and trade for the Government of people's Republic of Bangladesh Tofail Ahmed, Minister for Commerce — — — — — — — — — — —