Agreement between the Government of the Republic of Kazakhstan, Government of the Kyrgyz Republic and Government of the Republic of Uzbekistan on assistance on creation of joint businesses, production associations

of March 14, 1997

The government of the Republic of Kazakhstan, the Government of the Kyrgyz Republic and the Government of the Republic of Uzbekistan - hereinafter referred to as - the Parties, being guided by the Contract on creation of common economic space between the Republic of Kazakhstan, the Kyrgyz Republic and the Republic of Uzbekistan, for the purpose of forming of general scientific and technical and humanitarian space of the Republic of Kazakhstan, the Kyrgyz Republic and the Republic of Uzbekistan on bases of equality, respect of the state sovereignty and mutual advantage:

- proceeding from need of further strengthening and development of the equal and mutually beneficial trade and economic, research and production and humanitarian relations, giving of long-term and steady nature to them for the benefit of three states and growth in prosperity of their people;

- including important carrying out economic reforms, structural adjustment of economy, creating favorable conditions for development of the market relations between business entities of three countries;

- aiming to develop on qualitatively new bases traditional economic, scientific and technical and production and technological ties between the companies, the organizations and other market subjects, to activate interaction on stabilization and rise in national economies, effective use of economic capacity of three states;

agreed in the following:

Article 1

The parties will render assistance to creation of joint businesses, production associations in priority industries.

Each of the Parties will refrain from the actions capable to cause damage to interests of other Party, will create favorable conditions for development of cooperation on long-term basis to business entities of three countries, will provide recognition and immunity of the property rights of legal entities and physical persons of the states of other party in the territory of the state according to the national legal system.

Article 2

Joint businesses production associations will be created on the basis of consolidation of the capitals of business entities irrespective of patterns of ownership among themselves by organization of form of business according to the procedure provided by national legal systems of the Parties.

Article 3

The authorized fund of joint businesses, production associations will be constituted by shares, tangible and intangible assets of participants. The evaluation procedure of deposits, shares, share fractions are determined between the Parties on the basis of constituent documents.

Article 4

Relations of members of joint businesses, production associations are determined according to their location. Joint businesses are created, are effective, are registered according to national legal systems of the states of the Parties.

Article 5

The parties will take measures for ensuring support of productive, research, investing, foreign trade activity.

Article 6

The parties guarantee provision of the tax and customs privileges provided by their legislations and interstate agreements concerning movement of the capitals, goods, services in case of cooperation of labor power.

Article 7

This agreement is signed for a period of 5 years and will be prolonged automatically for the next five-year periods if the Parties do not make other decision.

This agreement will temporarily be applied from signature date and becomes effective from the moment of receipt by depositary of the third notification on accomplishment of interstate procedures by the Parties necessary for its entry into force.

Each of the Parties can stop the participation in the Agreement, having in writing notified on it depositary in one year prior to exit from it.

Article 8

Changes and additions by mutual consent of the Parties which are drawn up by the separate protocol can be made to this agreement. The specified protocol is integral part of this agreement and this agreement becomes effective in the same order, as.

Article 9

All matters of argument connected with interpretation or application of this agreement are permitted by consultations and negotiations of the Parties.

It is made in the city of Bishkek on March 14, 1997 in one authentic copy in Russian.

The authentic copy is in Executive committee of Interstate Council of the Republic of Kazakhstan, the Kyrgyz Republic and the Republic of Uzbekistan which sends its verified copy to each State Party.

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