TRADE AGREEMENT BETWEEN THE GOVERNMENT OF THE COOPERATIVE REPUBLIC OF GUYANA AND THE GOVERNMENT OF THE PEOPLE’S REPUBLIC OF CHINA

The Government of the Cooperative Republic of Guyana and the Government of the People’s Republic of China, (hereinafter referred to as the Contracting Parties), with a view to developing and strengthening the economic and trade relations between the two countries on the basis of equality and mutual benefit, have agreed as follows through amicable consultations:

ARTICLE I

The Contracting Parties shall take appropriate measures to promote growth of trade and economic relations between their two countries and endeavour to reduce and eliminate gradually all obstacles to exchange of goods, provision of services and technical cooperation in accordance with their respective laws and regulations in and binding international accords in force.

ARTICLE II

1. The Contracting Parties shall accord each other most-favoured-nation treatment regarding.
i. Customs duties, charges, taxes applied to importation or exportation of goods.

ii. Regulations, procedures and formalities concerning importation or exportation of goods.

iii. Administrative formalities for issuance of import or export licenses.

2. However, the provisions of paragraph (1) shall not apply in the case of:
i. Advantages and privileges which have been or will be accorded to neighbouring countries by either Contracting Party for the purpose of facilitating border trade.

ii. Advantages and privileges which have been or will be accorded to
members of any customs union, free trade zone, or regional
organisation to which the Contracting Party is, or will be a member.

ARTICLE III

1. The Contracting Parties shall encourage their corporations and enterprises involved in foreign trade to negotiate and enter into transactions in accordance with regular commercial terms and conditions.

2. The payment for transactions conducted between the two countries shall be made in any freely convertible currency in accordance with their respective foreign exchange laws and regulations.

3. In order to facilitate trade, other payment arrangements may be considered.

ARTICLE IV

1. The Contracting Parties agree to foster exchange visits by trade and/or
industrial groups or delegations, and fairs and exhibitions for the purpose of
commerce and trade in accordance with their respective laws and regulations in
force.

2. The Contracting Parties shall encourage their corporations and enterprises to
develop various forms of economic and trade cooperation and establish favourable
conditions for such cooperation in accordance with their respective laws and
regulations in force.

ARTICLE V

1. At the request of either Contracting Party, the Contracting Parties shall solve problems that may arise from the implementation of this Agreement through negotiation and in the spirit of cooperation and mutual understanding.

2. The time and place of negotiations shall be decided by the Contracting Parties through consultation.

ARTICLE VI

This agreement will enter into force on the date of signing and shall remain in force for a period of five (5) years and thereafter it shall be automatically renewed for successive periods of one year each unless terminated in accordance with Article VII.

ARTICLE VII

1. Either Contracting Party may denounce this Agreement. The denunciation shall take effect six (6) months from the date on which written notification of this intention was communicated through diplomatic channels to the other Contracting Party.

2. In the event of termination of this Agreement, the transactions in progress at the time of notification of termination shall not be affected thereby and shall continue until completion unless the Parties otherwise agree.

3. This Agreement may be amended by consent of the Contracting Parties.

This Agreement is signed in GEORGETOWN, GUYANA on SEPTEMBER 17, 2001.
The Agreement is in duplicate in the English and Chinese languages, both texts being
equally authentic.

SGD:
Hon. Clement J. Rohee
Minister of Foreign Trade & International Cooperation
For the Government of the Cooperative Republic of Guyana.

SGD:
HE Wu Zhenglong
Ambassador of the People’s Republic of China to Guyana
For the Government of the People’s Republic of China.

17/09/01