BETWEEN THE GOVERNMENT OF THE SOCIALIST REPUBLIC OF VIETNAM AND THE ROYAL GOVERNMENT OF CAMBODIA IN MARCH 24, 1998
Vietnam-Cambodia Trade Agreement
The Government of the Socialist Republic of Vietnam and the Royal Government of Cambodia, desiring to develop trade relations between the two governments on the principle of equality and mutual benefits, have agreed as follows:
The two parties shall develop and reinforce trade relations between the two countries through specific measures. One Party shall study proposals made by the other Party to consider and carry out decisions agreed by the two parties with the aim of reaching closer economic and trade relations between the two countries.
One Party shall allow exportation of commodities of its own country to the other country and facilitate importation of commodities from the other country and in case import or export permits are required, shall facilitate issuance of such permits according to applicable regulations of each country and international practice.
One Party shall grant to the other Party the most favored nation (MFN) status in the areas of tariffs, duties, fees and customs procedures in connection with importation and exportation of commodities from this country to the other.
Notwithstanding, this Agreement shall not be applied to favors, immunities or incentives of which either of the two countries have already made or shall make commitments to other countries in a customs union, free trade zone or in an existing or to-be-established economic cooperation framework.
One Party shall grant MFN status to the other Party for merchant ships entering, unloading/loading cargo or casting anchor in its international ports according to laws and regulations of each country for ships from any third country.
All the payments in connection with goods sold or bought by the two countries shall be made in convertible currencies accepted by the two parties according to applicable regulations on exchange rate in each country.
The two parties shall consult with each other when necessary to propose measures to expand bilateral trade relations or deal with potential problems in connection with the implementation of this Agreement.
Provisions prescribed hereof shall be still in force after the Agreement expires for any contract that was signed within the frame work of the Agreement but remains uncompleted before the expiration date of the Agreement.
Either country shall remove tariffs or any other duty on following goods originating from the other country according to applicable laws and regulations of each country:
A) Goods that are temporarily imported for trade fair events or exhibitions without commercial purposes and shall be returned to the country of origin within a period of time as prescribed by each Party;
B) Goods that are used as samples and bear no commercial value;
Provisions prescribed hereof shall not restrict authority of each Party on acceptance or application of measures to protect its own essential security interests, community health or prevent epidemic diseases from attacking domestic animals and plants.
This Agreement may be amended, supplemented or terminated only when the two parties reach an agreement in writing. Any supplement or amendment or termination made to this Agreement shall not affect rights or obligations arising under this Agreement before such supplement, amendment or termination takes effect.
This Agreement takes effect since the signing date and its validity period is one year.
Validity of the Agreement shall be automatically extended for one year unless either Party makes a written notification of its intention to terminate the Agreement three months before the Agreement expires.
In witness whereof the undersigned, being duly authorized thereto, by their respective Governments, have signed this Agreement.
Done in duplicate at Hanoi this March 24, 1998 each in the Vietnamese, Khmer and English languages, all texts being equally authentic. In case of divergence of interpretation, the English text shall prevail.
FOR THE GOVERNMENT OF THE SOCIALIST REPUBLIC OF VIETNAM
Truong Dinh Tuyen
FOR THE ROYAL GOVERNMENT OF CAMBODIA
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