Contract on deepening of economic integration between the Republic of Uzbekistan and Ukraine

of June 20, 1995

The Republic of Uzbekistan and Ukraine which are hereinafter referred to as "Party"

being guided by the Contract on bases of the interstate relations, friendship and cooperation between the Republic of Uzbekistan and Ukraine of August 25, 1992,

wishing to develop and deepen the comprehensive economic relations on equal basis,

based on interest in development of mutually beneficial economic cooperation and deepening of integration processes between the Republic of Uzbekistan and Ukraine,

aiming to strengthen interstate cooperation in stabilization of economy, effective use of economic capacity of both countries,

agreed as follows:

Article 1

The parties will perform coordination of actions in the course of carrying out economic reforms, to promote preserving and development of mutually advantageous commercial ties between business entities of all patterns of ownership, areas and regional formations of the Republic of Uzbekistan and Ukraine.

Article 2

The parties will promote rapprochement of price, tax and monetarist policies for the purpose of creation of conditions for phased transition to free movement of goods, services, the capitals and labor power between both states based on the market relations.

Article 3

Each of the Parties proceeds from recognition of the property rights to the property of legal entities and physical persons of other Party located in its territory.

The parties will determine the mechanism of the state recognition and guarantees of protection of the property rights to this property.

Article 4

For the purpose of creation of conditions for free movement of goods and development of mutual trade of the Party speed up the joint operation directed on:

consecutive decrease and cancellation in mutual trade of non-tariff restrictions;

harmonization and standardization of the customs legislation, mechanisms of tariff and non-tariff regulation, simplification of customs procedures;

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