AGREEMENT ON TRADE AND ECONOMIC COOPERATION

BETWEEN THE ROYAL GOVERNMENT OF THE KINGDOM  OF CAMBODIA  

   
AND THE GOVERNMENT OF THE REPLUBLIC OF TURKEY

The Royal Government of the Kingdom of Cambodia and the Government of the Republic of Turkey (hereinafter referred to as " the Contracting parties ") on the grounds of equality and mutual benefit, 

Desiring to strengthen the friendly relations and to enhance the cooperation between the two countries,  

Considering their common interest in promoting trade and economic cooperation on the basic of mutual advantage,  

have agreed as follows: 

ARTICLE  I 

The Contracting Parties shall take all appropriate measures within the framework of their respective laws and regulations to promote trade and economic relations between the two countries. 

ARTICLE II 

The Contracting Parties shall grant each other the most-favoured-nation treatment with respect to customs duties and other charges in connection with the imports and exports of goods between the two countries.  

The provisions of this Article shall not apply to any existing or future privileges and advantages granted to third countries within the framework of free trade areas, customs union, other regional agreements and special arrangement with developing countries and border trade.  

ARTICLE III 

The implementation of agreed projects relating to the economic cooperation within the framework of the present Agreement, shall be realized on the basic of contracts or arrangements to be signed between the interested enterprises, organizations, or public institutions of the two countries.  

 ARTICLE IV 

All payments for goods and services to be exchanged between the two countries shall be made in freely convertible currencies, in accordance with the foreign exchange laws and regulations in force in each country.  

ARTICLE V 

The Contracting Parties shall encourage their respective enterprises and organizations to the extent possible to take part in exhibitions, fairs and other promotional activities as well as to promote the exchange of trade delegations and business representatives.  

Each Contracting Party shall facilitate, as far as possible, national exhibitions of the other party in its territory.

ARTICLE VI 

The Contracting Parties, in accordance with their national legislation in force, agreed to exempt from customs duties and taxes, the goods and equipment imported temporarily for use in trade promotional events such as fairs, exhibitions, missions and seminars, provided that such goods and equipment are not subject to commercial transaction.  

ARTICLE VII 

The Contracting Parties, aiming to improve and diversify the bilateral trade between the two countries, agreed to facilitate and accelerate the exchange of information, particularly concerning their respective legislations and economic programmes, to encourage contacts between their companies and organizations involved in trade and economic cooperation.  

ARTICLE VIII 

The Contracting Parties decided to establish a Turkish-Cambodian Joint Economic Commission for promoting and facilitating trade and economic cooperation between the two countries.  

The Joint Economic Commission shall adopt necessary measures for the successful implementation of the present Agreement and shall identify new areas of economic cooperation . 

The Joint Economic Commission may, if deemed necessary, establish sub-committees and call upon experts and advisors to attend the meetings of the commission . The sub-committees shall report their activities to the commission. 

The Joint Economic Commission shall meet upon the request of either Contracting Party, alternately in Turkey and in Cambodia. 

ARTICLE IX  

Cooperation between the Contracting Parties within the framework of the present Agreement shall be realized in accordance with the laws, rules and regulations in force in their respective countries and shall be compatible with their  international obligations. 

ARTICLE X  

Any dispute between the Contracting Parties relating to the interpretation or implementation of the present Agreement shall be resolved without unreasonable delay, by friendly consultations and negotiations. 

ARTICLE XI  

Any amendment or modification to the present Agreement shall be in written notice and approved by the Contracting Parties. 

ARTICLE XII  

The present Agreement shall enter into force on the date of exchange of instruments of ratification in conformity with the legislation of each Contracting Party.  

The present Agreement shall remain in force for a period of five (5) years and thereafter its validity shall be automatically extended for successive periods of one (1) year, unless a written notice of termination is given by either Contracting  Party six (6) months prior to its expiration. 

After the termination of the present Agreement, its provisions and the provisions of any separate protocol, contract or agreement concluded in that respects, shall continue to govern any unexpired and existing obligations or projects, assumed or commenced thereunder. Any such obligations or projects shall be carried on until their completion. 

The undersigned, being duly authorized by their respective Governments, have signed the present Agreement. 

Done in Phnom Penh, on January 3^rd, 2002 in two originals in the English  language.