AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF LATVIA AND THE GOVERNMENT OF THE REPUBLIC OF BELARUS ON ECONOMIC, SCIENTIFIC AND TECHNICAL CO-OPERATION

The Government of the Republic of Latvia and the Government of the Republic of Belarus,

hereinafter referred to as "the Parties",

desiring to promote on the basis of equality and mutual benefit the development of economic, scientific and technical co-operation between them in areas of mutual interest,

recognising the importance of long-term measures for the successful development of the co-operation and the strengthening of ties between them at various levels and, in particular, at the level of their economic operators,

have agreed as follows:

Article 1

1. The Parties shall, within the framework of their respective national laws and taking into account their international obligations make every effort to develop and strengthen economic, scientific and technical co-operation, in all fields deemed to be in their mutual interest and benefit. While applying this Agreement the Republic of Latvia shall respect all obligations arising from its membership in the European Union.

2. Such co-operation shall be aimed in particular at:

- strengthening and diversifying economic links between the Parties,

- encouraging co-operation between economic operators, including small and medium sized enterprises, with a view to promote investment, joint ventures and other forms of co-operation between them.

Article 2

1. The co-operation provided for in Article 1, shall extend between the two Parties, in particular, in the following sectors:

- industry,

- tourism,

- transport,

- crossborder co-operation,

- pharmacy,

- agriculture, including agroindustry,

- banking, insurance and other financial services,

- communication,

- professional training,

- investment policy,

- technologies and innovations,

- other service activities of mutual interest.

2. The Parties shall consult in order to identify the priority sectors in their co-operation as well as new sectors of economic, scientific and technical co-operation.

Article 3

1. The economic co-operation provided for in this Agreement, shall be carried out, mainly, on the basis of agreements and contracts between Latvian and Belarussian economic operators, according to the national legislation of each Party and, in the case of Latvia, all obligations arising from its membership in the European Union.

2. The Parties shall make every effort to facilitate this activity by creating favourable conditions for economic co-operation, in particular, by:

- developing a favourable climate for investment,

- facilitating the exchange of commercial and economic information,

- facilitating the exchanges and contacts between their economic operators,

- facilitating the organisation of fairs, exhibitions, symposia on the territories of the Parties,

- encouraging trade promotion activities.

Article 4

The Parties shall facilitate the establishment of the direct cooperation in the field of science and technology, based on agreements between their scientific establishments, educational institutions and scientific and technical associations to support elaboration and fulfilment of common programs, creation common research centres and other forms of cooperation on the territories of the Parties.

The scientific and technical cooperating shall be carried out through:

- the exchange of specialists in different sectors of scientific and technical activity;

- the exchange of the scientific and technical information;

- the organization of scientific and technological probings and developments, other joint activity in the spheres of science, technologies and innovations;

- the organization of seminars, discussions, conferences and exhibitions in areas of mutual interest;

- the organization of training and courses;

- the creation of common research centers, laboratories and groups;

- any other forms of co-operation, concerning which Party will come to the agreement.

Article 5

1. The Parties establish a Intergovernmental Commission with the aim of surveying the matters of the implementation of this Agreement.

2. The Intergovernmental Commission shall be composed of representatives of the Parties and shall meet, at the request of either Party, at a place and time to be mutually agreed upon, through diplomatic channels.

3. The Intergovernmental Commission shall assess the progress and results of the co-operation under framework of the Agreement and formulate recommendations for the implementation of goals of the Agreement.

4. The Intergovernmental Commission, if necessary, shall decide to create subcommittees and working groups to facilitate implementation of the objectives of this Agreement.

Article 6

1. This Agreement shall enter into force on the date of receipt of the latter diplomatic note confirming that the internal legal requirements for the entry into force of this Agreement have been fulfilled, and shall remain in force for an indefinite period of time.

2. Each Party can terminate this Agreement by means of a written notification to the other Party. The termination shall take effect on the first day of the sixth month following the date on which the other Party received the notification.

3. In the event of termination of this Agreement all its relevant provisions shall continue to apply to all contracts concluded within the framework and during the effective time of the Agreement until the complete implementation of obligations arising there from.

Done in duplicate in Minsk on 21st of April, 2004 in the Latvian, Russian and English languages. In case of divergence of interpretation of this Agreement, the English text shall prevail.