Agreementon cooperation between the Lithuanian Industrialists' Confederation and the Industrialists Confederation of Latvia

The Lithuanian Industrialists' Confederation and the Industrialists Confederation of Latvia (hereinafter named as "Parties"),

Considering the significant changes in the industries of both countries,

Recognising the importance of promoting the multilateral contacts between the economies of the Lithuanian Republic and the Latvian Republic,

Guiding by the aspiration for further collaboration and developing the economic cooperation between the Republic of Lithuania and the republic of Latvia,

Have agreed as follows:

Article 1. The Parties shall establish and develop the partnership links between industrialists and businessmen of both countries.

Article 2. The Parties shall develop and strengthen all mutually beneficial cooperation between members of Confederations and other economic subjects of Lithuania and Latvia. Particular attention shall be noted to interstate economic integration, manufacturing cooperation, establishing of joint ventures.

Article 3. The Parties within the frame of their competence shall influence on the legal and governmental institutions of their respective countries to implement bilateral beneficial principles and mechanisms of economic cooperation between Lithuania and Latvia.

The Parties will commonly promote and coordinate the workout and realization of mutually beneficial production development programme for the common market.

Article 4. The parties shall encourage and facilitate the international trade between Lithuania and Latvia. The Parties shall facilitate to solve problems concerning taxes, customs duties and transport arising while collaboration of business subjects.

Article 5. The Parties shall facilitate the establishing of joint ventures in their countries.

The Parties shall encourage the establishing of commercial missions of their members in other country and members of another Party in own country.

Article 6. The Parties shall exchange with information about commercial activities and export-import intentions of members of both Parties.

The Parties shall exchange with information about laws and regulations concerned in economic collaboration between both states.

Article 7. The Parties shall consider a possibility to set up a joint working group, which would suggest how to accomplish national jurisdictions in order to support mutually beneficial cooperation and development of commodities market.

Article 8. The Parties shall encourage and support the participation of industrialists in fairs and exhibitions organised in other country and shall organise visits of delegations, meetings and conferences.

Article 9. Present Agreement can be changed and amended only by written accord of both parties.

Article 10. Present Agreement will run since the moment of signing till the time when one of the contracting Parties in writing form inform the other about conditional discharge beforehand six months.

Done in Riga, on 14 November 1996 in two copies either in Lithuanian, Latvian and English, both copies are authentic.

For Lithuanian Industrialists' For Industrialists Confederation

Confederation of Latvia