Ministry of Finance - Kingdom of Bahrain

Economic Agreements >> Bangladesh >> Agreement on Economic, Trade and Technical Cooperation

Signature Date: 8 August, 1992 Into Force: 8 August, 1992
Posted: 12 June, 2006 Reads:12023

Agreement on economic commercial and technical relations
between the state of bahrian and the people’s republic of bangladesh

The Government of the State of Bahrain and the People’s Republic of Bangladesh, Desirous of strengthening the friendly relations existing between the two brotherly States and their peoples and Inspired by the need to have optimum economic commercial and technical cooperation between them Have agreed ad follows:

ARTICLE 1
The Contracting Parties undertake to promote, facilitate and strengthen economic, commercial and technical relations between the two States in a spirit of cooperation and in accordance with the respective laws of the two States.

ARTICLE 2
The Contracting Parties agree that the relations referred to in Article 1 include and comprise the fields of trade, agriculture, industry, transportation and communications and manpower.

ARTICLE 3
The Contracting Parties shall endeavour to their respective private sectors to mutually strengthen their economic, commercial and technical relations and to facilitate projects and contracts between them including short or long term commodity agreements which ensure the regular supply of commodities of particular interest to both Contracting Parties in accordance with the laws thereof.

ARTICLE 4
The Contracting Parties shall endeavour to encourage their respective private sectors to mutually strengthen their economic, commercial and technical relations and to facilitate projects and contracts between them including short or long term commodity agreements which ensure the regular supply of commodities of particular interest to both Contracting Parties in accordance with the laws thereof.

ARTICLE 5
The Contracting Parties agree to assist, on a reciprocal basis, to meet the requirements of the other with respect to the supply of exports and expertise, technical training and manpower through their respective organizations and arrangements and in accordance with their respective laws, regulations and needs, both prevalent and projected.

ARTICLE 6
The Contracting Parties shall encourage their commercial enterprises and organizations to participate in industrial, commercial and technical exhibitions which they may from time to time hold in their respective territories.

ARTICLE 7
The Contracting Parties shall accord to each other most favoured nation treatment in regard to economic, commercial and technical matters without prejudice to the special terms and concessions accorded to Arab countries under bilateral and multilateral agreements or special arrangements entered into with them.

ARTICLE 8

The provisions of this Agreement shall be implemented by way of a Joint Committee the composition of which shall be decided by mutual consultations.
The Joint Committee shall implement and coordinate all aspects of economic, commercial and technical cooperation between the Contracting Parties and consider new programmes of action within the stated fields with a view to strengthening the economic relations between two Contracting Parties.
The Joint Committee shall meet alternatively in Dhaka and Bahrain in accordance with a future a program of work decided by the Joint Committee.

ARTICLE 9
The Contracting Parties shall settle all differences arising out of the interpretation or application of this Agreement by the reference of such differences to the Joint Committee or, alternatively, through the normal diplomatic process.

ARTICLE 10
This Agreement shall be valid for a period of five years and its validity shall automatically by extended for the same period unless either of the countries declares in writing its intention to terminate the Agreement. This Agreement shall terminate on the expiry of six months from the date of such notice.

ARTICLE 11
Where the implementation of contracts signed within the framework of the present Agreement is not completed during the validity thereof, the present Agreement shall be considered valid until such time as the contracts in question are fully implemented.

ARTICLE 12
This Agreement shall come into force upon signature of the Contracting Parties.

IN DWITESS WHEREOF, the undersigned, being authorized by their respective governments, have signed this Agreement.

Done at Manama on the 8th day of August 1992 which corresponds to 9th day of Saffar 1413 A.H., in three languages, Bengali, Arabic and English, in three original copies, all of which are equally authentic. In case difference, the English text shall prevail.

PRIME MINISTER OF THE GOVERNMENT STATE OF BAHRAIN
PRIME MINISTER OF THE GOVERNMENT OF THE PEOPLE’S REPUBLIC OF BANGLACESH