AGREEMENT between The Government of the Republic of Kazakhstan and The Government of the United Arab Emirates on Trade & Economic Co-operation

The Government of the Republic of Kazakhstan and the Government of the United Arab Emirates, hereinafter, referred to as the “Parties",

being aware of the significant importance of the development of the trade and economic co-operation between the two countries,

being guided by the principles of sovereign equality, mutual benefit and other generally recognized principles and rules of international law,

have agreed as follow:

Article 1

  1. The Parties shall, within the framework of rules and regulation in force in each country, take all the necessary measures to develop the long-term and stable relations between the Republic of Kazakhstan and the United Arab Emirates and to this end shall create the appropriate and favorable conditions.
  2. The Parties have agreed that there are possibilities for cooperation in the following priority fields :
  • agriculture
  • industry
  • consumer goods production

Article 2

Delivery of goods and services shall be performed on the basis of contracts signed between the legal and/or physical persons of both countries entitled to execute the foreign economic activities, hereinafter referred to as the “Participants", pursuant to the laws of each country and provisions of this Agreement.

Delivery of goods and services shall be performed on the basis of contracts signed between the legal and/or physical persons of both countries entitled to execute the foreign economic activities, hereinafter referred to as the “Participants", pursuant to the laws of each country and provisions of this Agreement.

Article 3

All payments and transactions for delivery of goods and services shall be done in freely convertible currency at the prices of international markets and under the terms and conditions accepted in the international trade, financial and banking practices in accordance with the legislations of each country.

Article 4

The responsible and competent bodies of the Republic of Kazakhstan and the United Arab Emirates, in accordance with their national legislations, shall in cases necessary grant in time licenses for delivery of goods and services on the contracts concluded between the Participants under this Agreement.

Article 5

The parties shall grant each other the required facilities in exchange of information, particularly in the field of laws and other statutory documents related to trade, economy and currency -and-finance relations, arrangement of fairs, exhibitions and other events for the purpose of developing trade and economic relations between the two countries.

Either Party, in accordance with its laws, shall promote establishment and activity of the representative offices of the foreign economic organizations of the other Party on its territory, as well as exchange of trade delegations.

Article 7

The Parties shall promote the development of the private sector in the field of production, implementation of joint projects and other forms of co-operation in accordance with the legislations of both countries.

Article 8

Procedure of transportation and transit of goods and passengers through the territory of both countries shall be specified in a separate Agreement.

Article 9

The Parties have agreed to establish the Inter-governmental Commission on trade and economic co-operation to supervise the implementation of the present Agreement and to take essential measures for the development of trade and economic co-operation.

The Commission will hold its meetings in turn in Kazakhstan and in the United Arab Emirates according to the wish of a Party, approved by the other Party.

Article 10

The Parties have agreed that the Republic of Kazakhstan may establish its Trade Representative Office in the United Arab Emirates and the United Arab Emirates may establish its Trade Representative Office in the Republic of Kazakhstan. The legal status and the location of the Trade Representative Offices shall be specified in a separate Agreement.

Article 11

Disputes between the Participants shall be settled in accordance with the arrangements stipulated in the contracts or in accordance with separate written agreements of the Participants.

Article 12

The provisions of this Agreement do not stipulate any terms of the Parties to accord to one another any favored treatment, preferences and privileges which come out of this Agreement or any other international, regional or sub regional norms related to trade and economic co-operation.

Article 13

The present Agreement may be amended as agreed by the Parties.

This Agreement shall come into force after exchange of notes in which the Parties shall inform each other of the execution of legislative procedures required for its coming into force and shall be valid for a period of five years.

Thereafter, it shall be automatically extended for a similar period of five years, unless six months before the expiration of the validity of the Agreement, either Party notifies in writing to the other Party of its intention to terminate this Agreement.

In case of termination of this Agreement, its provisions will be applicable to all the contracts concluded in accordance with this Agreement, obligations under which have arisen in the period of its validity but have not been fulfilled by the moment of termination of this Agreement.

Done in Abu Dhabi on the 25 day of May 1998 in the Kazakh, Arabic and English languages, all texts being equally authentic.

In case of divergence of interpretation of the particular provisions of this Agreement, the English text shall prevail.

For the Government of the Republic of Kazakhstan For the Government of the United Arab Emirates
Created at : 25.05.1998, 10:35, Updated at : 25.05.1998, 10:35