Page:United States Statutes at Large Volume 107 Part 3.djvu/753

From Wikisource
Jump to navigation Jump to search
This page needs to be proofread.

PROCLAMATION 6577^JULY 2, 1993 107 STAT. 2691 Article XVI—Entry into Force, Term, Suspension and Termination 1. This Agreement (including its side letters, which are an integral part of the Agreement) shall enter into force upon an exchange of diplomatic notes in which the Parties notify each other that all necessary legal requirements for entry into force have been fulfilled, and shall remain in force as provided in paragraphs 3 and 4 of this Article. 2. This Agreement shall, upon entry into force, supercede in all respects the Agreement on Trade Relations Between the United States of America and the Socialist Republic of Romania, done on April 2, 1975, and the Agreement Suspending Mutual Application of Most Favored Nation Tariff Treatment Under the Trade Agreement of April 2, 1975, done on June 22, 1988, which agreements shall have no further force or effect. 3. (a) The initial term of this Agreement shall be three years, subject to subparagraph (b) and (c) of this paragraph. (b) If either Party encounters or foresees a problem concerning its domestic legal authority to carry out any of its obligations under this Agreement, such Party shall request immediate consultations with the other Party. Once consultations have been requested, the other Party shall enter into such consultations as soon as possible concerning the circumstances that have arisen with a view to finding a solution to avoid action under subparagraph (c). (c) If either Party does not have domestic legal authority to carry out its obligations under this Agreement, either Party may suspend the application of this Agreement or, with the agreement of the other Party, any part of this Agreement. In that event, the Parties will, to the fullest extent practicable and consistent with domestic law, seek to minimize disruption to existing trade relations between the two countries. 4. This Agreement shall be extended for successive terms of three years each unless either Party has given written notice to the other Party of its intent to terminate this Agreement at least 30 days prior to the expiration of the then current term. IN WITNESS WHEREOF, the undersigned, being duly authorized, have signed this Agreement. DONE at Bucharest on this 3rd day of April 1992, in duplicate, in the English and the Romanian languages, both texts being equally authentic. FOR THE GOVERNMENT OF THE FOR THE GOVERNMENT UNITED STATES OF AMERICA: OF ROMANIA: John R. Davis, Jr. Constantin Fota Bucharest, April 3, 1992. The Honorable Constantin Fota, Minister of Commerce and Tourism Romania Dear Mr. Minister, I have the honor to confirm receipt of your letter that reads as follows: