MEMORANDUM OF UNDERSTANDING ON COOPERATION OF THE MINISTRY OF CONSTRUCTION, TRANSPORT AND INFRASTRUCTURE OF THE REPUBLIC OF SERBIA AND THE IMPORT-EXPORT BANK OF CHINA ("Off. Herald of RS - Treaties", No. 1/2015)

This Memorandum of Understanding on Cooperation (hereinafter referred to as "this Memorandum of Understanding") is made on 17th December, 2014 by and between:

Ministry of Construction, Transport and Infrastructure of the Republic of Serbia, with its head office at 22-26 Nemanjina Street, Belgrade, Republic of Serbia (hereinafter referred to as the "Party A");

And

The Export-Import Bank of China, with its head office at No. 30, Fu Xing Men Nei Street, Xicheng District, Beijing 100031, People’s Republic of China, (hereinafter referred to as the "Party B"), as the other party.

Each party in this Memorandum of Understanding is individually referred to as a "Party" and collectively as the "Parties".

Whereas

1. Parties have established a good relationship through friendly cooperation;

2. The Party A has demonstrated intention to strengthen cooperation with the Party B for the execution of infrastructure projects.

Now therefore, the Parties agree as follows:

Article 1

Under this Memorandum of Understanding, the Party A hopes to strengthen the cooperation with the Party B, and seeks financial support from the Party B for the execution of infrastructure projects in Serbia.

Article 2

The Party A will determine the priority of projects at its own discretion by taking into account their significance and feasibility and then submit the proposed projects to the Party B one by one. The Parties will decide jointly the financing model for each individual project according to its particularity.

Article 3

The organization to implement a project shall be chosen in accordance with the process stipulated in Article 5 of the AGREEMENT ON ECONOMIC AND TECHNICAL COOPERATION IN THE FIELD OF INFRASTRUCTURE BETWEEN THE GOVERNMENT OF THE REPUBLIC OF SERBIA AND THE GOVERNMENT OF THE PEOPLE’S REPUBLIC OF CHINA, signed on 20th August 2009 in Beijing.

The qualified Chinese contractors need to be approved by the Party B. Any selected projects need to meet the Party B’s relevant requirements.

Article 4

Both Parties shall keep the contents of this Memorandum of Understanding confidential and either Party shall not disclose them to any third party without the prior written consent of the other Party.

Article 5

This Memorandum of Understanding is a statement of intention of the Parties to strengthen cooperation and does not represent any legally binding commitment with regard to funding on the part of either Party.

This Memorandum of Understanding shall come into effect upon signing.

This Memorandum of Understanding is made in English in two originals, and being equally authentic.

Signed for and on behalf of: Ministry of Construction, Transport and Infrastructure of the Republic of Serbia Deputy Prime Minister and Minister		Signed for and on behalf of: The Export-Import Bank of China Chairman and President
Professor Zorana Mihajlovic, PhD		Li Rougu