Page:United States Statutes at Large Volume 104 Part 6.djvu/969

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PROCLAMATION 6175—SEPT. 6, 1990 104 STAT. 5359 Rules in a country other than the United States of America or Czechoslovakia. 4. Unless otherwise agreed between the parties, the parties should specify as the place of arbitration a country other than the United States of America or Czechoslovakia, that is a party to the 1958 U.N. Convention on the Recognition and Enforcement of Foreign Arbitral Awards. 5. Nothing in this Article shall be construed to prevent, and the Parties shall not prohibit, the parties from agreeing upon any other form of arbitration or dispute settlement which they mutually prefer and agree best suits their particular needs. 6. Each Party shall ensure that an effective means exists within its territory for the recognition and enforcement of arbitral awards. ARTICLE XV.— CONS ULTATIONS 1. The Parties shall, in accordance with their respective policies and objectives, cooperate bilaterally and at the international level in the solution of commercial problems of common interest. 2. The Parties agree to set up a Joint Commercial Commission which will, subject to the terms of reference of its establishment, foster economic cooperation and the expansion of trade under this Agreement, and review periodically the operation of this Agreement and make recommendations for achieving its objectives. 3. The Parties agree to consult promptly through appropriate channels at the request of either Party to discuss any matter concerning the interpretation or implementation of this Agreement or other relevant aspects of the relations between the Parties. ARTICLE XVI. — ARE AS FOR FURTHER ECONOMIC COOPERATION 1. For the purpose of further developing bilateral trade and providing for a steady increase in exchange of products and services, both Parties shall strive to achieve mutually acceptable agreements on taxation and investment issues, including the repatriation of profits and transfer of capital. 2. The Parties shall take appropriate steps to foster economic cooperation on as broad a base as possible in all fields deemed to be in their mutual interest, including with respect to statistics and standards. Among the objectives of such cooperation shall be: —the development and prosperity of the Czechoslovak and American economies and standards of living, —the encouragement of scientific and technological programs, — the creation of new employment opportunities, — the protection and improvement of the environment.