Agreement Between the Government of the Kingdom of Cambodia

and the Government of the Republic of Korea on Economic, Scientific and Technical Cooperation

The Government of the Kingdom of Cambodia and the Government of the Republic of Korea (hereinafter referred to as " the Contracting Parties"),

Bearing in mind the friendly relations existing between the two countries,

Desiring to strengthen and promote economic, scientific and technical cooperation on the basis of equality and mutual benefit, and

Recognizing the benefit to be derived from such enhanced cooperation,

Have agreed as follows:

Article 1:

The Contracting Parties shall take all appropriate measures within the framework of their respective laws and regulations to encourage and promote economic, scientific and technical cooperation between the two countries.

Article 2:

Implementing arrangements setting forth the details and procedures of specific cooperative activities under this Agreement may be concluded between the Contracting Parties or their agencies.

Article 3:

1. Each Contracting Party shall, in accordance with its applicable laws and regulations, endeavour to admit investments by nationals or juridical persons of the other Contracting Party in its territory and. to promote such investments as far as possible.

2. The Contracting Parties shall in accordance with their applicable laws and regulations, encourage and promote joint ventures between the two countries in all fields related to economy, trade, science and technology including light and heavy industries, mining, construction, agriculture, fishery and rural development.

Article 4:

The Contracting Parties shall endeavour to develop scientific and technical cooperation, inter alia, through:

(a) exchange of research results, publications and information of a scientific and technical nature;

(b) exchange of scientists, researchers, technical personnel and other experts;

 

(c) organization of and invitation to seminars, symposia, other meetings and training in the scientific and technical fields;

 

(d) implementation of joint research projects on subjects of mutual interest; and

 

(e) any other form of cooperation mutually agreed upon.

Article 5:

1. In order to coordinate activities for achievements of the objects of this Agreement and to ensure optimum conditions for its implementation, the Contracting Parties shall set up a Joint Committee composed of the representatives designated by them. 

2. The functions of the Joint Committee shall include, in particular, the followings :

(a) reviewing all matters concerning the implementation of this Agreement;

(b) examining the possibilities of increasing and diversifying economic, scientific and technical cooperation between the two countries and formulating, when necessary, concrete programmes and projects to this end; and

 

(c) submitting and studying proposals with the aim of suggesting to the Contracting Parties measures for the enhancement of economic, scientific and technical cooperation.

    3.   The Joint Committee shall meet alternately in the Kingdom of Cambodia and in the

          Republic of Korea on the dates agreed upon through diplomatic channels.

Article 6:

Any dispute arising between the Contracting Parties, on the interpretation and application of this Agreement shall be settled by direct negotiation between them.

Article 7: 

1. This Agreement may be amended by mutual consent. Any amendment or termination of this Agreement shall be without prejudice to any right or obligation accruing or incurred under this Agreement prior to the effective date of such revision or termination.

2. Any amendment mutually agreed upon by the Contracting Parties shall be effected by an exchange of notes.

Article 8:

1. This Agreement shall enter into force on the date when the Contracting Parties have notified each other that all legal requirements for its entry into force have been fulfilled.

2. This Agreement shall remain in force for a period of five years and continue in force thereafter unless either Contracting Party notifies the other in writing six months in advance of its intention to terminate this Agreement.

IN WITNESS WHEREOF, the undersigned, duly authorized thereto by their respective Governments, have signed this Agreement.

DONE in duplicate at Phnom Penh this 10^th day of February 1997 in the Khmer, Korean and English languages, all texts being equally authentic. In case of divergence of interpretation, the English text shall prevail.

  For the Government of                                                                                 For the Government of 

the Kingdom of Cambodia                                                                              the Republic of Korea

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