52 STAT.] VENEZUELA-COMMERCIAL RELATIONS-MAY 12, 1938 de America, sus territorios o posesiones o la Zona del Canal de Panama, con prescindencia de cualquier cambio en el estatuto politico de cualquier territorio o posesi6n de los Estados Unidos de America. 3. A los articulos que se importen a Venezuela y que hayan sido trasbordados en Puerto Rico o en las Islas Virgenes. Articulo 3°.- E1 presente convenio entrara en vigor desde esta fecha, y permanecera vigente por un periodo de un anio, a menos que sea sustituido antes por un convenio comercial mas extenso, o denun- ciado por uno de los paises mediante notificaci6n por escrito con treinta dias de anticipaci6n por lo menos. Sirvase aceptar V. S . las seguridades de mi muy distinguida con- sideraci6n, E. GIL BORGES Al Hon. Sefor DANIEL M. BRADDOCK, Encargadode Negocios ad-interim de los Estados Unidos de America. Presente.- [Translation] UNITED STATES OF VENEZUELA MINISTRY FOR FOREIGN AFFAIRS Bureauof Economic Policy No. 2264 Economic Section CARACAS, May 12, 1938. MR. CHARGE D'AFFAIRES: For the purpose of formalizing the result of the conversations which I have had with Your Honor, I have the honor to inform you that the Government of Venezuela is disposed, pending the conclusion of the reciprocal trade agreement which the two Governments have under consideration, to regulate the commercial relations between the two countries by a modus vivendi on the basis of the application of the most-favored-nation principle, in conformity with the following articles: Article I.-Both Governments agree to concede reciprocally uncon- ditional and unlimited most-favored-nation treatment in all that concerns customs duties and all accessory imposts, the manner of applying such duties, as well as the rules and formalities to which customs operations can be submitted. Article II.- The provisions of the foregoing article shall not apply: 1. To the advantages now accorded or which may hereafter be accorded by the United States of Venezuela or by the United States of America to adjacent countries in order to facilitate frontier traffic; nor shall they apply to the advantages resulting from customs unions to which the United States of Venezuela or the United States of America may become a party.
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