The agreement between Chamber of Commerce and Industry of the Russian Federation and Chamber of Commerce and Industry of the Kyrgyz Republic on cooperation in the field of the international commercial arbitration

of December 1, 2005

Chamber of Commerce and Industry of the Russian Federation and Chamber of Commerce and Industry of the Kyrgyz Republic, hereinafter referred to as "Contracting parties", in view of that the Russian Federation and the Kyrgyz Republic are participants of the Convention on recognition and carrying out of foreign arbitral decisions (New York, 1958), wishing to promote development of full cooperation of participants of foreign economic activity of two countries, being convinced that wide use of opportunities of the international commercial arbitration will allow to create the effective tool of permission of civil disputes between participants of foreign economic activity from the Russian Federation and the Kyrgyz Republic which can arise between these parties during their commercial relations, including investment, agreed as follows.

Article 1

Contracting parties agreed to recommend according to the Russian and Kyrgyz participants of foreign economic activity, including investment, to include the following arbitration clause in their contracts:

"All disputes or disagreements which can arise from this contract or in connection with it are subject, with cognizance exception to national courts, permission in the arbitral way.

If defendant in such dispute or disagreement is the Russian physical person or legal entity, then arbitration proceeding will be performed in the International commercial Arbitration Court under Chamber of Commerce and Industry of the Russian Federation according to its Regulations.

If defendant in such dispute or disagreement is the Kyrgyz physical person or legal entity, then arbitration proceeding will be performed in the International reference tribunal under Chamber of Commerce and Industry of the Kyrgyz Republic according to its Regulations.

The award of arbitration passed according to this arbitration clause will be final and binding upon both parties".

Article 2

Contracting parties will cooperate among themselves with the purpose of development of the international commercial arbitration, including by rendering organizational assistance to the arbitration formed especially for consideration of separate case ("ad hoc" arbitration) in the territory of the respective countries.

For this purpose Contracting parties will render each other administrative services, including provision of rooms, for carrying out arbitration procedure. The incurred expenses shall be refunded by the Contracting party which requested provision of administrative services.

Article 3

Contracting parties will inform each other on the legislation of the countries in the field of the international commercial arbitration, to represent the available data on the developing arbitral practice, on activities of the relevant arbitral centers, to exchange rules of trial of disputes (regulations) and Lists of arbitrators.

Contracting parties agreed to hold joint seminars and conferences on questions of the international commercial arbitration within the powers and to provide participation of representatives of other party in the similar actions organized by the Contracting party independently in the territory.

Article 4

Contracting parties agreed to meet periodically for consideration of the questions connected with accomplishment of this agreement.

Questions of carrying out and the agenda of the specified meetings will be approved by consultations between Contracting parties.

Article 5

This agreement becomes effective from the date of its signing.

It can be terminated by means of the prior written notice in twelve months of one of Contracting parties.

In case of cancellation of this agreement all obligations assumed by Contracting parties before its termination will be executed according to provisions of this agreement.

It is made also Bishkek on December 1, 2005 in two authentic copies in Russian, and both texts are equally authoritative.

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