AGREEMENT
BETWEEN
the government of the slovak republic 
aND
the government of the republic of cuba
ON ECONOMIC COOPERATION

	The Government of the Slovak Republic and the Government of the Republic of Cuba (hereinafter referred to as the “Parties”), 
	inspired by the traditionally amicable relations existing between the Slovak Republic and the Republic of Cuba, 
	desiring to further develop and intensify their mutual economic, industrial and technical cooperation on the basis of reciprocity and mutual benefit, 
	conscious of the necessity for the existence of an adequate legal framework for Slovak–Cuban relations in compliance with the domestic laws and regulations applicable in the two countries;
	have agreed as follows: 

ARTICLE I
Objectives

The Parties have agreed that the objectives of this Agreement, in compliance with the laws and regulations in force in each country, are to: 

(a)	support the activities of various industries in an attempt to increase bilateral economic, technical and technological cooperation,
(b)	encourage and develop business contacts and opportunities,
(c)	 encourage cooperation in areas of mutual interest concerning economic development,
(d)	 strengthen cooperation in the interest of the general development of economic relations between the two countries. 

ARTICLE II
Economic Cooperation

1.	The Parties, in compliance with their applicable legislation, will aspire to develop and strengthen economic cooperation in all those areas which they consider to be of mutual interest and benefit. The Parties agree to support and facilitate, in accordance with domestic laws and regulations, broader cooperation between their state and their private institutions. For the sake of meeting the aforementioned objectives the Parties agree:

(a)	to exchange information concerning economic development and bilateral trade between the two countries,
(b)	to seek and support investment opportunities,
(c)	to encourage business and investment missions, the preparation of market analyses, the exchange of business and marketing information, relations between businesses and institutions and other initiatives enabling potential partners to establish business contacts,
(d)	to exchange information on existing incentives relating to fairs, exhibitions, business missions and other promotion activities,
(e)	to facilitate the exchange of experts and technicians,
(f)	to explore and support joint business opportunities in third countries arising from the cooperation between Slovak and Cuban companies,
(g)	to support and increase industrial, technical and technological cooperation, and
(h)	to promote and develop cooperation in tourism.

2.	The Parties may, if they find it necessary, conclude Supplementary Agreements on Cooperation under this Agreement, which will serve as the basis.

ARTICLE III
Intergovernmental Commission for Economic Cooperation

1.	In order to develop the cooperation and for the needs of its organisation, approval, management and systematic monitoring, an Intergovernmental Commission for Economic Cooperation between the Government of the Slovak Republic and the Government of the Republic of Cuba, hereinafter referred to as the “Commission”, shall be established. 
2.	The Commission will be chaired by Ministers or State Secretaries appointed by the Parties, who will lead individual delegations.

ARTICLE IV
Obligations of the Commission

1.	The obligations of the Commission are as follows:
(a)	to assess and determine priority areas of cooperation where there is the possibility to implement specific projects;
(b)	to analyse and recommend to the Parties the adoption of adequate forms of implementation for the identified areas of cooperation;
(c)	to oversee proper fulfilment of this Agreement and to propose adequate recommendations to the Parties.
2.	As needed, the Commission may establish technical and other commissions to perform its obligations. 
3.	To fulfil the provisions of this Agreement the Commission may decide that one of the Parties shall contract the services of institutions, organisations and persons in order to gather information, prepare studies, carry out professional surveys and provide recommendations.
4.	The Commission shall propose to the Parties the adoption of agreements and protocols necessary for the implementation of specified areas of cooperation.
5.	The Commission shall meet regularly in order to evaluate, and if necessary to amend any Agreement, Protocol or recommendation carried out in accordance with this Agreement, as well as to answer any questions concerning the implementation of this Agreement.

ARTICLE V
Appointment of Representatives

The Parties agree that the authorities responsible for execution of this Agreement and for the performance of the Commission shall be:
(a)	for the Government of the Slovak Republic: the Ministry of Economy of the SR;
(b)	for the Government of the Republic of Cuba: the Ministry of Foreign Investments and Economic Cooperation. 

ARTICLE VI
Meetings, Venues and Procedures of the Commission

1.	Regular sessions of the Commission shall be held once a year. If requested by one of the Parties, the Commission may convene an extraordinary meeting, as needed.
2.	The Commission shall hold sessions alternately in Slovakia and Cuba, while the dates shall be set by mutual agreement of the Parties.
3.	The Commission shall establish its own procedures.
4.	Decisions and conclusions made by the Commission shall be adopted in the form of Minutes, or, according to their content, in the form of protocols, exchanges of notes or memoranda of understanding.

ARTICLE VII
Participants and Costs

1.	The respective national laws and regulations of the hosting country shall apply to staff posted under this Agreement in either of the countries. 
2.	Costs of the business travel related to the implementation of the cooperation programme shall be agreed by the Parties, on the basis of whichever alternative is the most acceptable for both sides.

ARTICLE VIII
Participation of International Organisations and Institutions of Third Countries 

To implement programmes and projects in accordance with this Agreement, the Parties may, by mutual agreement, invite and request the participation of and funding by international and regional organisations for cooperation as well as institutions of third countries.

ARTICLE IX
Amendments and Consultation

1.	Any amendment or modification to the present Agreement shall be in writing  and approved by the Parties.
2.	The Parties may request consultations, through diplomatic channels, at any time. Consultations will be processed within ninety days (90) from the date of request unless the Parties agree on a shorter or longer term, depending on the specific case.

ARTICLE X
Settlement of Disputes

         Any dispute between the Parties relating to the interpretation or implementation of this Agreement shall be resolved within the Commission by consultations and negotiations.  

ARTICLE XI
Validity, Duration and Termination of the Agreement

1.	This Agreement shall enter into force thirty (30) days after the latter notification by which the Parties have informed each other that the legal and other procedures necessary for bringing into force this Agreement have been completed.
2.	 This Agreement is concluded for an indeterminate duration and may be denounced in writing by each of the Parties. The validity of the Agreement in that case shall expire six  (6) months from the date on which either of the Parties receives the denouncement.

ARTICLE XII
Final Provisions 

1. The provisions of this Agreement may not be interpreted in such a way as to invalidate or otherwise affect the obligations arising from Slovakia’s membership in the European Union. 

2. Amendment or termination of this Agreement shall not affect the validity of contracts which were concluded on the basis of this Agreement. 

Done in………………..on………………………… in two originals, one each in the Slovak, Spanish and English language. In case of divergence in the interpretation of this Agreement, the English text shall prevail.
For the Government of the Slovak Republic 	For the Government of the Republic of Cuba