AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF LATVIA AND THE GOVERNMENT OF GEORGIA ON ECONOMIC, INDUSTRIAL, SCIENTIFIC AND TECHNICAL COOPERATION

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

Hereinafter referred to as "the Contracting Parties",

RECALLING the development of friendly relations between the Republic of Latvia and Georgia,

TAKING INTO ACCOUNT the traditional long-term economic relations,

DESIRING to maintain, develop and strengthen economic, industrial, scientific and technical cooperation between the Contracting Parties and to intensify and diversify their trade,

BEING GUIDED by the principles of equality, mutual interests and international law,

CONSIDERING that Latvia is a member state of the European Union,

BEARING IN MIND the provisions of the Partnership and Cooperation Agreement establishing a partnership between the European Communities and their Member States, of the one part, and Georgia, of the other part, signed on 22 April 1996,

HAVE DECIDED to conclude the following Agreement:

Article 1

1. The Contracting Parties shall, within the framework of their respective national laws and taking into account their international obligations, develop, strengthen and diversify economic, industrial, scientific and technical cooperation on the mutually beneficial basis and in all spheres of mutual interest.

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

- strengthening and diversifying economic links between the Contracting Parties,

- encouraging co-operation between enterprises, 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 Contracting Parties, in particular, in the following sectors:

- industry;

- transport, transit and communications;

- information technologies;

- agriculture;

- banking, insurance and other financial services;

- investment policy;

- research, technologies and innovations;

- tourism and sport;

- vocational and professional training;

- food safety;

- forestry;

- co-operation on regional development;

- other sectors of mutual interest which promote further expansion of economic, industrial, scientific and technical cooperation.

2. The Contracting Parties shall consult in order to identify the priority sectors in their cooperation as well as new sectors of economic, industrial, scientific and technical cooperation.

Article 3

In order to attain the objectives of this Agreement, the Contracting Parties shall facilitate and promote, among other things:

- communication and co-operation between governmental institutions;

- links between professional organizations, chambers, and associations;

- visits, contact and activities designa­ted to promote institutional co-operation, as well as co-operation between individuals, delegations and organizations;

- the organization of fairs and exhibitions;

- the organization of seminars and symposia;

- the forming of joint ventures and other form of joint economic activities;

- participation of small and medium-size sector enterprises in bilateral economic relations.

- trade promotion activities.

Article 4

1. The two Contracting Parties will regularly exchange information about trade, commerce, investment, financial services and other information, necessary for promotion and facilitation of economic, industrial, scientific and technical cooperation.

2. The Contracting Parties recognize the importance of effective protection of intellectual property rights. The Contracting Parties will exchange information on a regular basis on laws and procedures governing the protection of intellectual property rights in their respective countries.

Article 5

1. With the purpose of performing the tasks set out in Article 1 of this Agreement the Contracting Parties shall establish the Latvian-Georgian Intergovernmental Commission on Economic, Industrial, Scientific and Technical Cooperation (hereinafter the Intergovernmental Commission).

2. The Intergovernmental Commission shall be composed of representatives of respective state authorities.

3. The Intergovernmental Commission shall hold sessions when necessary, but not less than once a year by turns in the Republic of Latvia and in Georgia.

4. The Intergovernmental Commission may invite representatives of business circles to take part in its work.

Article 6

1. The main tasks of the Intergovernmental Commission are as follows:

- to monitor and examine the functioning of this Agreement and any questions that may arise in the implementation of this Agreement;

- to discuss programs of economic, industrial, scientific and technical cooperation in the spheres of mutual interest;

- to examine problems that could hinder the development of economic co-operation and trade between the Contracting Parties;

- to compare statistics of the Contracting Parties.

2. The Intergovernmental Commission shall make recommendation on the chan­ges and amendments of this Agreement.

Article 7

This Agreement shall apply without prejudice to the obligations following from membership of the Republic of Latvia in the European Union. The provisions of the Agreement may not be invoked or interpreted in such a way as to invalidate or otherwise affect the obligations imposed by the Partnership and Cooperation Agreement or other agreements between the European Union and Georgia.

Article 8

The provisions of this Agreement may be changed and amended by the mutual agreement of the Contracting Parties.

Such changes and amendments shall be formed as additional Protocols which shall constitute an integral part of this Agreement and shall enter into force in accordance with the procedure described in Article 9 of this Agreement.

Article 9

1. This Agreement shall enter into force on the date of receipt of the latter written notice through diplomatic channels confirming that the internal procedures for the entry into force of this Agreement have fulfilled.

2. This Agreement is concluded for the indefinite term.

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

Done at Tbilisi on this 5 day of October, 2005, in two original copies, each in the Latvian, Georgian and English, all texts being equally authentic.

In case of any differences in the interpretation of this Agreement, the English text shall prevail.