His Majesty's Government of Nepal and the Government of the People's Republic of Bulgaria (hereinafter referred to as the contracting parties).
Being desirous of promoting economic and commercial relations between Nepal and People's Republic of Bulgaria on the basis of equality and mutual benefit.
Have agreed as follows:
The two contracting parties shall take all appropriate measures to facilitate and develop the trade between their two countries and agree to promote the exchange of goods between them.
Trade between the two countries shall be based as far as possible on the principle of equilibrium and shall be carried out by their authorized juridical and physical persons.
The contracting parties shall grant to each other the most favoured nation treatment in all matters relating to the conduct of trade between them.
This provision however shall not apply to:
The exchange of goods between the two countries shall be conducted in accordance with Annexure "A" and Annexure "B" together with their values which may be mutually agreed upon as and when necessary. However this Agreement shall not preclude the trade in commodities other than those mentioned in aforesaid Annexure "A" and "B".
The trade between the two countries shall be conducted in accordance with their respective laws, regulations and procedures relating to importation and exportation of goods.
The contracting parties shall accord to each other necessary facilities in connection with the organization of or participation in trade exhibitions and fairs.
All payments in connection with exportation and importation of goods between the two countries shall be affected in any freely convertible currency.
The contracting parties to explore ways and means and take necessary steps for the most efficient and economical transportation of goods and commodities between the two countries.
Nothing in this agreement shall be constructed to prevent the adoption and enforcement by either party of measures necessary to protect public morals, human animal or plant life or health and for the security of its own territory.
In order to further develop their economic and commercial relations, the contracting parties shall consult with each other on all such matters as are of mutual interests in the implementation of this Agreement. The consultation shall be held at such place and intervals as may be mutually agreed upon.
This Agreement shall be valid for a period of five years. It shall be extended thereafter for addition periods of two years unless either contracting party notifies the other of its intention to terminate this Agreement six months prior to the expiration of each period of two years.
This Agreement shall come into force provisionally from the date of signature and finally from the day of the receipt of the exchange of note informing each other about its approval by the competent authorities of either contracting party.
Done and signed at Kathmandu of Fourth Day of July one thousand nine hundred and eighty in two original texts in the English language, both text being equally authentic.
|On behalf of
His Majesty's Government of
(Dr. Ram Prasad Rajbahak)
Minister of State
For Industry and Commerce
|On behalf of
The Government of the People's
Republic of Bulgaria Sd/
First Deputy Minister
For Foreign Trade
Goods available for exports from Bulgaria to Nepal
Goods available for export from the Kingdom of Nepal to the People's Republic of Bulgaria