His Majesty's Government of Nepal and the Government of the Republic of Poland, hereinafter referred to as the "Contracting Parties". Being desirous of expanding and developing trade relations between the two countries on the basis of equality and mutual benefit, Have agreed as follows:
The Contracting Parties shall, subject to the laws and regulations in force in their respective countries, take all appropriate measures to facilitate and develop trade between the two countries.
The Contracting Parties shall grant each other the most favoured nation treatment particularly with respect to duties/taxes and other charges as well as customs formalities in connection with the importation and exportation of goods from one country to another.
The provisions of article 2 shall not be applied to the advantages, exemptions and privileges, which the Contracting Parties grant or shall grant:
Commercial transactions within the framework of this Agreement shall be concluded between the natural and juridical persons of both countries. The above mentioned natural and juridical persons shall carry out their commercial transactions on their own responsibility in every respect.
The Contracting Parties shall facilitate to the extent possible each other's participation in trade fairs to be held in either country, and in arranging trade exhibitions of either country in the territory of the other, on terms to be agreed between respective authorities.
The Contracting Parties shall subject to the laws and regulations in force in their respective countries and on conditions agreed upon by the respective authorities of both parties, permit the importation and exportation, free of customs duties, taxes and other similar levies or charges not related to the payment for services, the following:
All payments for goods and services between natural and juridical persons of both countries shall be made in freely convertible currencies, in accordance with the foreign exchange regulations in force in each country.
The Contracting Parties will ensure mutually the recognition and enforcement of the awards of the arbitration tribunals agreed upon in commercial contracts concluded within the frameword of the present Agreement between natural and juridical persons of both countries, incase of disputes related to these contracts
Both Contracting Parties shall consult each other whenever necessary in order to recommend measures for expanding mutual or to overcome difficulties that might arise in connection with implementation of the provisions of this Agreement.
For this purpose a consultative meeting attended by representatives of both Parties may be held upon the request of either Contracting Party within a convenient term and at a place to be agreed upon by the Contracting Parties.
In the event of termination of this Agreement, its provisions shall continue to apply in respect of unfulfilled obligations of commercial contracts entered into during the period of validity of this Agreement.
In witness whereof the undersigned, duly authorized by their respective Governments have signed this Agreement.
Done and signed in Kathmandu on the twelfth day of May 1992 in two originals in English language, both being equally authentic.
|(On behalf of His Majesty's
Government of Nepal)
Durga Prakash Panday
Ministry of Commerce
|(On behalf of the
Government of the Republic of Poland)
Extraordinary and plenipotentiary of the
Republic of Poland to the Kingdom of Nepal