AGREEMENT ON ECONOMIC COOPERATION
                                                                      BETWEEN
                                       THE GOVERNMENT OF THE SLOVAK REPUBLIC
                 AND THE GOVERNMENT OF THE REPUBLIC OF INDONESIA

The Government of the Slovak Republic and the Government of the Republic of Indonesia
Hereafter referred to as “the Parties”;
Inspired by the traditional links of friendship and cordial relations, which exist between the Slovak Republic and the Republic of Indonesia;
Desirous of developing and intensifying their economic cooperation on the basis of reciprocity and mutual benefit;
Conscious of the necessity of existence of an adequate legal framework for Slovak - Indonesian relations in accordance with the applicable laws and regulations in the respective countries;
Have agreed as follows:

ARTICLE I
Objectives

The Parties agree that the objectives of the Agreement, in accordance with applicable laws and regulations in respective countries, are:

1.	to promote activities aimed at the development of bilateral economic cooperation,
2.	to support and develop business contacts,
3.	to facilitate the expansion of bilateral investment and identification of economic and investment opportunities in their respective countries,
4.	to reinforce cooperation for the enhancement of economic relations between the two countries.

ARTICLE II
Economic Cooperation

The Parties share a commitment to the principles of free market economy.  They consequently agree to encourage and facilitate greater cooperation between their natural and legal persons including business associations, institutions and agencies, in accordance with applicable laws and regulations in respective countries.  To this end, they agree to:

1.	exchange information on economic development and bilateral trade, economic plans, forecasts, and strategies,
2.	inform each other of existing possibilities concerning trade fairs, exhibitions, entrepreneurial missions and other promotional activities,
3.	facilitate an exchange of experts, technicians, investors, and business representatives of the public an private sectors, and
4.	explore and promote joint business possibilities in third countries arising from partnership between Slovak and Indonesian companies.

ARTICLE III
Competent Authorities

For the purpose of this Agreement, the Government of the Slovak Republic will be represented by the Ministry of Economy of the Slovak Republic and the Government of the Republic of Indonesia will be represented by the Department of Foreign Affairs of the Republic of Indonesia.

ARTICLA IV
Joint Committee

1.	The Parties shall establish a Joint Economic Committee, hereafter referred to as “the Committee”, comprised of representatives of the Ministry of Economy of the Slovak Republic, Ministry of Foreign Affairs of the Slovak Republic and the Department of Foreign Affairs of the Republic of Indonesia to accomplish the objectives of this Agreement.

2.	The meetings of the Committee shall be convened once a year alternately in Slovakia and Indonesia, the date and venue of the meetings shall be mutually agreed upon by representatives of the Parties.

3.	The duties of the Committee shall include, in particular, the following:
a)	  discussions on the development of bilateral economic relations;
b)	  identifying new possibilities for further development of trade and economic cooperation;
c)	  drawing up suggestions for the improvement of terms of economic cooperation between enterprises of both countries; 
d)	  making recommendations for the implementation of this Agreement.

4.	The Committee shall be composed of experts of the two Parties and representatives of relevant organizations and institutions.

5.	At the conclusion of the meetings, an Agreed Minutes prepared by the host delegation shall be agreed upon and signed by both heads of delegations.

ARTICLE V
Amendment

This Agreement may be reviewed and amended at any time by mutual written consent of the Parties. Such revisions or amendments shall come into effect on such date as may be determined by the Parties and shall form an integral part of this Agreement.

ARTICLE VI
Settlement of Disputes

Any disputes or differences arising out of the interpretation or implementation of this Agreement shall be settled amicably through negotiation or consultation between the Parties.

ARTICLE VII
Final Provisions

1.	Concerning the Slovak Republic this Agreement may not be interpreted in such a way as to affect in any way the obligations arising from its membership in the European Union.

2.	This Agreement shall enter into force 60 (sixty) days after the date of the last notification, by which the Parties inform each other through diplomatic channels, that constitutional requirements for giving effect to this Agreement in the respective countries have been fulfilled. 

3.	The Agreement shall remain in force for a period of 5 (five) years and upon the expiry thereof shall be renewed for another 5 (five) years thereafter, unless either Party wishes to terminate it or renew it for a shorter period, in which case a written notification shall be made 6 (six) months in advance. 
4.	The termination of this Agreement shall not have effect on the validity and duration of any arrangements, programs, activities, or projects being implemented under this Agreement until the completion of such arrangements, programs, activities, or projects unless the Parties decide otherwise.

IN WITNESS WHEREOF, the undersigned, being duly authorized  by their respective Governments, have signed this Agreement. 

DONE at…………………., this…………..day of………………2006, in duplicate, in the Slovak, Indonesian and English languages; all texts being equally authentic. In case of any divergence of interpretation of this Agreement, the English text shall prevail. 

For the Government of the Slovak Republic	For the Government of the Republic of Indonesia