MEMORANDUMOF UNDERSTANDING BETWEEN THE MINISTRY OF INTERNAL AND FOREIGN TRADE OF THE REPUBLIC OF SERBIA AND THE NATIONAL DEVELOPMENT AND REFORM COMMISSION OF THE PEOPLE’S REPUBLIC OF CHINA FOR THE ESTABLISHMENT OF A COORDINATING MECHANISM TO MONITOR THE IMPLEMENTATION OF THE MEDIUM TERM ACTION PLAN ON JOINTLY BUILDING THE BELT AND ROAD INITIATIVE BETWEEN THE GOVERNMENT OF THE REPUBLIC OF SERBIA AND THE GOVERNMENT OF THE PEOPLE’S REPUBLIC OF CHINA("Off. Herald of RS - Treaties", No. 1/2024) |
The Ministry of Internal and Foreign Trade of the Republic of Serbia and the National Development and Reform Commission of the People’s Republic of China, in correspondence with the Memorandum of Understanding on the Joint Construction of the Silk Road Economic Belt and the 21st Century Maritime Silk Road between the Government of the Republic of Serbia and the Government of the People’s Republic of China, signed in November 2015, and in accordance with the Bilateral Cooperation Plan on Jointly Building the Belt and Road Initiative between the Government of the Republic of Serbia and the Government of the People’s Republic of China, signed in April 2019, and Medium Term Action Plan on Jointly Building the Belt and Road Initiative between the Government of the Republic of Serbia and the Government of the People’s Republic of China (2023-2025) (hereinafter referred to as the "Medium Term Action Plan"), signed in October 2023, agree to establish a Coordination Mechanism as follows:
Chapter 1. Objectives of the Coordinating Mechanism
1.1. The Ministry of Internal and Foreign Trade of the Republic of Serbia and the National Development and Reform Commission of the People’s Republic of China jointly establish the Coordinating Mechanism, with the objective of, within the framework of the Medium Term Action Plan, promoting implementation of relevant cooperation projects and tasks, deepening practical cooperation in various fields between the two sides, and realizing mutual benefit, win-win outcomes and common development.
Chapter 2. Co-chairing of the Coordinating Mechanism
2.1. The Department of Bilateral Economic Cooperation of the Ministry of Internal and Foreign Trade of the Republic of Serbia and the Department of Regional Opening-up of the National Development and Reform Commission of the People’s Republic of China are designated as the departments in charge of the functioning of the Coordination Mechanism on the Serbian side and on the Chinese side respectively.
2.2. The Coordinating Mechanism shall be co-chaired on the Serbian side by the Assistant Minister of Internal and Foreign Trade of the Republic of Serbia in charge of bilateral economic cooperation, and on the Chinese side by the Director General of the Department of Regional Opening-up of the National Development and Reform Commission of the People’s Republic of China.
Chapter 3. Terms of Reference of the Coordinating Mechanism
3.1. The Coordinating Mechanism, comprising of the representatives of relevant institutions according to the cooperation areas identified in the Medium Term Action Plan, shall have the following terms of reference: jointly promote and monitor the implementation of the projects defined in the Medium Term Action Plan, analyse achieved results, set priorities and activities for the upcoming period, contribute to solving any potential difficulties in the process of implementation of the projects, as well as exchange of experience and information relevant for the realization of the Medium Term Action Plan.
Chapter 4. Coordinating Mechanism Meetings
4.1. The meetings of the Coordinating Mechanism shall be held annually or with the frequency as negotiated by the Parties in accordance with the working need, in alternate venues, once in the Republic of Serbia and the People’s Republic of China, in person or virtually, at a date, place and time to be agreed upon by the Parties.
4.2. The co-chairs of the coordinating mechanism may chair the meetings of the Coordinating Mechanism or delegate this function to their deputy.
4.3. Two parties shall prepare Agreed Minutes from the meetings of the Coordinating Mechanism which shall include the agreed measureas and activities with the aim of further monitoring and implementation of the projects from the Medium Term Action Plan.
Chapter 5. Distribution of Expenses for the Holding of the Meetings of the Coordinating Mechanism
5.1. Meeting expenses shall be borne by the organizer.
5.2. In principle, the travel and accommodation expenses of the participants in the Coordinating Mechanism shall be borne by each Party for its delegation.
5.3. In special circumstances, the Parties may agree on another way to bear the expenses.
6.1. Any differences or disputes arising from the interpretation and implementation of this Memorandum shall be solved through friendly consultations.
7.1. The period of validity of this Memorandum is the same with that of the Medium Term Action Plan.
Chapter 8. Entry into Force, Modification and Termination
8.1. The Memorandum shall enter into force upon signature by the duly authorized representatives of each Party.
8.2. Either Party may terminate the Memorandum through written notice to the other Party. In such case, this Memorandum shall be terminated upon 3 months after a Party receives such notice.
8.3. As of the date of termination of the Memorandum, only those provisions related to ongoing cooperative activities shall remain in effect.
8.4. All amendments and annexes of this Memorandum shall be effective if made in written notice and signed by the duly authorized representatives of each Party.
The Memorandum is signed in Belgrade on May 8th 2024 in three equall copies in the Serbian, Chinese and English languages, each text being equally authenic. In case of divergence, the English text shail prevail.
For the Ministry of Internal |
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For the National Development |