In order to strengthen the links of friendship and the economic
relations existing between the respective countries and more pa-
rticularly in order to promote temporary admission of goods in
favour of enterprises from the European Community and from Chin-
a-Taiwan,
EUROCHAMBRES, the Association of European Chambers of Commerce
and Industry, acting on behalf of the guaranteeing associations
of the European Community and represented by its President, Mr.
R. DELOROZOY,
and
CHINA EXTERNAL TRADE DEVELOPMENT COUNCIL, represented by its Se-
cretary General, MR. AGUSTIN TINGTSU LIU
following consultation in Brussels held on February 7, 1990, ha-
ve agreed to organize a system to facilitate the temporary admi-
ssion of goods in accordance with the following provisions:
RTICLE 1
The protocol on the organization of a system of international c-
ustoms deposits with China-Taiwan for temporary admission of go-
ods, its enclosures and all the conventions and texts mentioned
therein are an integrant part of the present agreement.
ARTICLE 2
The management of the present agreement is ensured by the parti-
es to the agreement.
The administration and management of the protocol are ensured by
the International Bureau of Chambers of Commerce of the Interna-
tional Chamber of Commerce.
All matters pertaining to the interpretation and implementation
of the protocol shall be settled with the participation of the
parties to the agreement.
ARTICLE 3
The present agreement will enter into force on the date followi-
ng its signature by the two parties.
It will be applicable upon signature of the protocol by the 12
guaranteeing associations for the European Community, by the Ch-
ina External Trade Development Council for China-Taiwan and by
the International Bureau of Chambers of Commerce of the Interna-
tional Chamber of Commerce.
The International Bureau of Chambers of Commerce of the Interna-
tional Chamber of Commerce will inform the parties about the da-
te when all the required signatures will have been collected for
the applicability of the agreement.
ARTICLE 4
As of its date of applicability, in accordance with the provisi-
ons of the abovementioned Article 3 § 3, this agreement will be
valid for a period of 2 years. This period will be renewable by
tacit agreement, except if notice of termination is given 3 mon-
ths before the date of expiry by anyone party by means of a reg-
istered letter with acknowledgment of receipt.
Done at Brussels, on March 20 1991
R. DELOROZOY
[Signed]
President
EUROCHAMBRES
Done at Taipei , on Dec. 29,1990
[Signed]
AGUSTIN TINGTSU LIU
Secretary General
China External Trade
Development Council