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Agreement between the Government of the Republic of Latvia and the Government of THE REPUBLIC OF MOLDOVA on Economic, INDUSTRIAL, SCIENTIFIC AND TECHNICAL Cooperation

The Government of the Republic of Latvia and the Government of the Republic of Moldova, hereinafter referred to as "the Contracting Parties",

recalling the development of friendly relations between the Republic of Latvia and the Republic of Moldova,

desiring to strengthen, maintain and develop 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 Latvia's commitments as 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 the Republic of Moldova, of the other part, signed on 28 November 1994,

Hereby agree as follows:

Article 1

Objectives

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 a mutually beneficial basis and in all spheres of mutual interest.

While applying this Agreement, the Republic of Latvia shall respect all obligations arising from its membership in the European Union.

2. Such cooperation shall be aimed in particular at:

(i) strengthening and diversifying economic links between the Contracting Parties;

(ii) encouraging cooperation between enterprises, including small and medium-sized enterprises, with a view to promote investments, joint ventures and other forms of cooperation between them.

Article 2

Scope

1. The cooperation agreed in Article 1, shall be extended between the Contracting Parties, in particular, in the following sectors:

(i) industry;

(ii) science, technologies and innovations;

(iii) investment policy;

(iv) transport and transit;

(v) tourism;

(vi) energy;

(vii) other sectors of mutual interest which promote the further expansion of economic, industrial, scientific and technical cooperation.

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

Article 3

Cooperation measures

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

(i) communication and cooperation between governmental institutions;

(ii) links between professional organizations, chambers, and associations;

(iii) visits, contacts and activities designed to promote cooperation, between individuals, officials and economic organizations;

(iv) the organization of fairs and exhibitions;

(v) the organization of seminars and symposia;

(vi) the forming of joint ventures and other forms of joint economic activities;

(vii) participation of small and medium-sized enterprises in bilateral economic relations;

(viii) trade promotion activities.

Article 4

Exchange of information

1. The Contracting Parties will regularly exchange information about trade, commerce, investment, financial services and other information, necessary for the 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

Establishment of the Intergovernmental Commission

1. With the purpose of performing the tasks set out in Article 1 of this Agreement the Contracting Parties shall establish the Republic of Latvia - the Republic of Moldova 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 in two years by turns in Latvia and Moldova.

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

Article 6

Terms of the Intergovernmental Commission

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

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

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

(iii) to examine problems that could hinder the development of economic cooperation and trade between the Contracting Parties;

(iv) to compare statistics of the Contracting Parties.

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

Article 7

Other obligations

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 to invalidate or otherwise affect the obligations imposed by the Partnership and Cooperation Agreement or other agreements between the European Union and the Republic of Moldova.

Article 8

Amendments

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

2. 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

Final provisions

1. This Agreement shall enter into force on the date of receipt of the last written notification through diplomatic channels by which the Contracting Parties inform each other that the internal legal requirements necessary for its entry into force have been fulfilled.

2. This Agreement is concluded for an indefinite period of time.

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

Done at Riga this 11 day of May, two thousand and seven, in two original copies, each in the Latvian, Moldovan and English languages, all texts being equally authentic.

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

 

For the Government of the Republic of Latvia

For the Government of the Republic of Moldova