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The agreement on assistance in creation and development of the production, commercial, credit and financial, insurance and mixed transnational associations

of April 15, 1994

The governments of the State Parties of this agreement which are hereinafter referred to as - the Parties,

being guided by provisions of the Agreement on creation of Economic union of September 24, 1993,

confirming the aspiration to provide favorable conditions for every possible development of commercial ties for the benefit of the people on mutually advantageous and equal basis, and also to increase efficiency of trade and economic relations within the Commonwealth of Independent States,

attaching importance to use of modern forms of interaction in the field of the productive, research, investing, business and financial and credit activity directed to recovery and expansion of the high-integrated technological and cooperation interrelations it is direct between the companies and the organizations of various patterns of ownership and on intensification on this basis of mutual barter,

agreed as follows:

Article 1

The parties will keep development of effective forms joint production, scientific and technical, investment, commercial and other types of activity of the business entities registered in the territories of the State Parties of the Agreement as participants of foreign economic relations according to the national legal system which are not forbidden by the national legal system.

The parties, coordinating the actions, will promote creation and development of the production, commercial, credit and financial, insurance and mixed transnational associations (further referred to as "transnational associations") which activities answer the purpose determined by this agreement and does not contradict the antitrust national legal system.

Article 2

Transnational associations can be created in any spheres of activity which are not forbidden by the national legal system in various forms, including: joint financial and industrial groups, the international economic associations, corporations, holding companies, associations, the unions, joint businesses, the trade and intermediary organizations like trading houses, the agencies and the international exchanges, joint commercial banks and their associations, finance and insurance companies.

The created transnational associations can perform at the same time several types of the specified activities.

Article 3

Transnational associations can be created both on the basis of intergovernmental agreements, and by the conclusion of contracts directly between business entities of various patterns of ownership according to the national legal system.

As founders of transnational associations bodies in cases when it is not forbidden by the legislation of the State Parties of this agreement can act state (federal, republican, municipal, municipal).

The parties can provide to transnational associations of quota, the license, including for implementation of intergovernmental obligations on deliveries of goods for the state needs, in cooperation and for export of products on the markets of the third countries.

Article 4

The parties will promote forming of favorable conditions for:

developments of cooperation within transnational associations, cooperation of the companies of various patterns of ownership basing the activities on close technological ties, specializations and cooperations of production, implementation of interstate programs, production and economic projects;

creations of the joint commercial organizations aimed at every possible development of direct trade and economic relations of business entities;

ensuring effective financial and credit servicing of the companies entering transnational associations for implementation of their productive activity and the foreign trade transactions;

release and placement by transnational associations of shares and other securities;

participations in joint investment projects;

organizations of joint insurance companies.

Article 5

Transnational associations are legal entities by the legislation of the state of the place of their registration.

The status of branches (departments) and representations of transnational associations is determined in constituent documents according to the legislation of the state of the location of branches (departments) and representations.

Article 6

The evaluation procedure of the financial, material resources and property brought by founders in authorized capital of transnational associations is determined by coordination between them.

Article 7

The authorized capital of transnational associations is created on the conditions approved by founders by consolidation of their financial, material resources and property.

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