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MEMORANDUM OF UNDERSTANDING BETWEEN THE MINISTRY FOR SMALL AND MEDIUM SIZED ENTERPRISES AND COOPERATIVES OF ROMANIA AND THE MINISTRY OF ECONOMIC AFFAIRES OF THE REPUBLIC OF ALBANIA REGARDING COOPERATION IN THE FIELD OF SMALL AMD MEDIUM ENTERPRISES

The Ministry for Small and Medium Sized Enterprises and Cooperatives of Romania and The Ministry of Economic Affaires of the Republic of Albania (hereinafter reffered to as ‘the Parties')

DESIRING to further on promote bilateral economic cooperation between the Parties;

REALIZING that the small and medium enterprises (here in after referred to as ‘SMEs') are an important part of the economic development of the States of the two Parties;

RECOGNIZING the need to expand and strengthen cooperation on the basis of equality and mutual benefit, among the SMEs of the States of the two Parties;

PURSUANT to the prevailing laws and regulations in each of the two countries;

HAVE AGREED AS FOLLOWS:

ARTICLE 1

OBJECTIVE OF COOPERATION

The objectives of the Memorandum of Understanding is to promote and carry out activities which will strengthen the cooperation between the SMEs of the States of the two Parties.

ARTICLE 2

DEFINITIONS

For the purpose of this Memorandum of Understanding, the term ‘SMEs' shall be in conformity with the definition stipulated by the laws and regulations within each of the two countries.

ARTICLE 3

ACTIVITIES

Subject to availabilities of appropriate funds and personnel and the valid laws and regulations within the respective states, the Parties shall encourage and contribute to the promotion of bilateral cooperation for the support and development of SMEs trough the following activities:

  1. Exchange visits, experience and information with respect to the legal regulations that are enforceable within the two states;

  2. Falicitate the cooperation of SMEs trough such means as joint research, technology transfer, marketing cooperation and creation of business partnership;

  3. Developing training, educational, managerial skill and professional development programmes for entrepreneurs and government officials involved in the development and support of SMEs;

  4. Support the organization of symposium, seminars, workshops and exhibitions;

  5. Hold the meeting on SMEs cooperation as necessary in both states based on mutual agreements;

  6. Facilitate access to the respective SMEs financial resources available from banking and other related financial institutions;

  7. xchange of experts and civil servants as and when necessary to assist the above mentioned and other cooperative missions; and

  8. Other SMEs related precise measures and activities.

ARTICLE 4

ARRANGEMENT WITH RELEVANT AGENCIES

  1. With a view to facilitating the bilateral cooperation, the Parties shall encourage, where appropriate, the conclusion of supplementary arrangements between the governmental agencies, research institutes and enterprises of the respective two states, specifying the terms and conditions of particular cooperative programmes and projects, the procedure to be followed and other appropriate matters.

  2. The cooperation between the two Parties will be carried out on the basis of action plans determining concrete arrangements on realizing of this Memorandum of understanding.

ARTICLE 5

COOPERATION WITH INTERNATIONAL ORGANIZATIONS

The Parties shall consult closely and exchange their points of view within international organizations in the field of SMEs.

ARTICLE 6

JOINT COORDINATING COMMITTEE

  1. The Joint Coordinating Committee (hereinafter referred to as ‘The Committee') composed of representatives designated by the Parties shall be established with a view to formulate, implement, coordinate and monitor the cooperative activities determined under this Memorandum of Understanding.

  2. The function of the Committee is to identify and develop the possible areas of cooperation agreed upon by the Parties, to coordinate and monitor the implementation of action plans of the agreed cooperation based on this Memorandum of Understanding and to consider issues of mutual interests arising from its implementation.

  3. The Committee meetings shall be organized as and when necessary on mutually agreed dates, alternatively in Romania and in the Republic of Albania.

ARTICLE 7

AMENDMENTS

The herein Memorandum of Understanding will be subject to period amendment at any time, by mutual consent of the Parties. Such amendments shall be in writing and shall come into force according to the procedure provided in art. 9, paragraph 1.

ARTICLE 8

SETTLEMENT OF DISPUTE

Any dispute arising out of the interpretation or application of the herein memorandum of Understanding shall be settled amicably trough consultations or negotiations between the Parties.

ARTICLE 9

THE MEMORANDUM'S ENTRY INTO FORCE, DURATION AND TERMINATION

  1. This Memorandum of Understanding shall come intro force on the date of the receipt of the latest notification by means of which the Parties inform each other on the completion of the necessary internal procedures and shall be in force for a period of 5 (five) years.

  2. The herein memorandum of Understanding shall be automatically extended for new 5 (five) years long periods, unless one of the Parties notifies the other in writing within at least 6 (six) months before the expiry date of its validity period with respect to its decision to terminate this Memorandum of Understanding.

  3. Should this memorandum of Understanding be terminated, the arrangements agreed upon by the Parties shall remain in force until such time when the implementation of the action plans has been accomplished.

IN WITNESS THEREOF, the undersigned have signed the herein Memorandum of Understanding.

DONE in Bucharest on June 13, 2003, in 2 (two) original copies, one for each Party, in Romanian, Albanian language and English, all texts being equally authentic. In case any divergences of interpretation arise, the English text shall prevail.

FOR THE MINISTRY FOR SMALL AND MEDIUM SIZED ENTERPRISES AND COOPERATIVES OF ROMANIA
MINISTER,
Silvia CIORNEI

FOR THE MINISTRY OF ECONOMIC AFFAIRS OF THE REPUBLIC OF ALBANIA
MINISTER,
Arben MALAJ



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