AGREEMENTBETWEEN THE GOVERNMENT OF THE REPUBLIC OF SERBIA AND THE GOVERNMENT OF THE REPUBLIC OF MALDIVES ON TRADE, INVESTMENT AND ECONOMIC COOPERATION("Off. Herald of RS - Treaties", No. 10/2025) |
The Government of the Republic of Serbia and the Government of the Republic of Maldives hereinafter referred to individually as "Party" and together as "the Parties",
DESIRING to strengthen the friendly relations and to enhance the economic cooperation between the Parties.
RECOGNIZING the common interest of the Parties in enhancing and promoting cooperation in trade, investments on the basis of mutual benefit.
ACKNOWLEDGING the significance of further widening bilateral economic relations which will provide suitable base for a mutually advantageous economic cooperation between the Parties,
CONSIDERING their common interest in promoting trade, investment and economic cooperation on the basis of mutual advantage,
Have agreed as follows:
ARTICLE 1
The Parties, subject to the terms of this Agreement and the laws, rules, regulations, and national policies in force in each Party and the provisions of the international treaties to which they are parties to, agree to promote and develop trade, investments and economic cooperation on the basis of equality and mutual benefit.
ARTICLE 2
Each Party shall, subject to the laws, rules, regulations, and national policies in force, governing the subject matter in their respective countries, undertake to facilitate economic cooperation through the following forms:
(a) collaboration where appropriate, on trade matters, in investment promotion events, trade and investment missions and on initiatives and projects of mutual benefit and interest.
(b) promote exchange of information related to trade and investment.
(c) promote capacity building activities related to trade and investments, including study tours, convening meetings, seminars, workshops, and conferences.
(d) endeavour to promote joint venture cooperation and collaborations between representatives of the private sector to enhance trade and investments.
(e) promoting business linkages in order to facilitate the growth of bilateral trade and investments and exchange of visits between officials and experts in the areas of cooperation mutually identified between the Parties.
(f) encourage cooperation and exchange of visits between the representatives of the Chamber of Commerce and Industry and other similar institutions and as well as between businessmen of both Parties.
(g) permit each other, subject to their respective laws and regulations in force, to organize fairs and exhibitions in each other and provide all necessary assistance.
(h) other forms of cooperation as may be mutually agreed upon by the Parties.
ARTICLE 3
For the practical implementation of this Agreement, relevant Government officials will be assigned from both Parties as the focal points under the Agreement.
The focal points shall liaise with and work on various economic cooperation aspects covered under the Agreement as and when appropriate.
ARTICLE 4
All correspondences pursuant to this Agreement shall be in English language, in writing, sent to the following addresses:
In the case of Serbia:
Ministry for Internal and Foreign Trade,
Nemanjina 22-26 St, Belgrade
Phone: (+381) 11 363 3721; (+381) 11 3633722
e-mail: kabinet@must.gov.rs; bilaterala@must.gov.rs
In the case of Maldives:
Ministry of Economic Development,
Velaanaage, Male’ Republic of Maldives.
Phone: +(960) 332 3668, Fax +(960) 3323840,
e-mail: international@trade.gov.mv
ARTICLE 5
Any difference or dispute between the Parties relating to the interpretation and/or implementation and/or application of any of the provisions of this Agreement shall be settled amicably through mutual consultations and negotiations between the Parties through diplomatic channels, without reference to any third party or international tribunal.
ARTICLE 6
The financial arrangements to cover expenses for the cooperative activities undertaken within the framework of this Agreement shall be mutually agreed upon by the Parties on a case-by-case basis, subject to the availability of funds and resources.
ARTICLE 7
Each Party shall undertake to observe the confidentiality and secrecy of documents, information and other data received from or supplied to the other Party during the period of the implementation of this Agreement or any other agreements made pursuant to this Agreement.
Both Parties agree that the provisions of this Article shall remain in force after the expiry or termination of this Agreement.
ARTICLE 8
Each Party reserves the right for reasons of national security, national interest, public order, or public health to suspend temporarily, either in whole or in part, the implementation of this Agreement.
Such suspension shall take effect immediately after written notification has been given to the other Party through diplomatic channels.
ARTICLE 9
Either Party may request in writing a revision or amendment of all or any part of this Agreement.
Any revision or amendment agreed to by the Parties shall be in writing and shall form an integral part of this Agreement.
Such revision or amendment shall enter into force on such date as may be determined by the Parties.
Any revision or amendment shall not prejudice the rights and obligations arising from or based on this Agreement before or up to the date of the entry into force of such revision or amendment.
ARTICLE 10
ENTRY INTO FORCE, DURATION AND TERMINATION
This Agreement shall enter into force on the 30th day following the receipt of the last notification in which a Party notifies the other in writing through diplomatic channels that its respective internal procedures for the entry into force of this Agreement have been completed.
Thereafter, this Agreement shall remain in force for a period of five (5) years, which shall be automatically extended for successive One (1) year periods, unless a written notice of termination is given by either Party through diplomatic channels, at least six (6) months prior to its expiry.
IN WITNESS WHEREOF, the undersigned duly authorized thereto by their respective Government, have jointly signed this Agreement.
SIGNED in Belgrade, on 9.5.2023, in two original texts in English, both texts being equally authentic.
FOR THE GOVERNMENT _________________________ |
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FOR THE
GOVERNMENT _________________________ |