The agreement between Chamber of Commerce and Industry of the Russian Federation and Chamber of Commerce and Industry of the Kyrgyz Republic on cooperation in the field of the international commercial arbitration

of December 1, 2005

Chamber of Commerce and Industry of the Russian Federation and Chamber of Commerce and Industry of the Kyrgyz Republic, hereinafter referred to as "Contracting parties", in view of that the Russian Federation and the Kyrgyz Republic are participants of the Convention on recognition and carrying out of foreign arbitral decisions (New York, 1958), wishing to promote development of full cooperation of participants of foreign economic activity of two countries, being convinced that wide use of opportunities of the international commercial arbitration will allow to create the effective tool of permission of civil disputes between participants of foreign economic activity from the Russian Federation and the Kyrgyz Republic which can arise between these parties during their commercial relations, including investment, agreed as follows.

Article 1

Contracting parties agreed to recommend according to the Russian and Kyrgyz participants of foreign economic activity, including investment, to include the following arbitration clause in their contracts:

"All disputes or disagreements which can arise from this contract or in connection with it are subject, with cognizance exception to national courts, permission in the arbitral way.

If defendant in such dispute or disagreement is the Russian physical person or legal entity, then arbitration proceeding will be performed in the International commercial Arbitration Court under Chamber of Commerce and Industry of the Russian Federation according to its Regulations.

If defendant in such dispute or disagreement is the Kyrgyz physical person or legal entity, then arbitration proceeding will be performed in the International reference tribunal under Chamber of Commerce and Industry of the Kyrgyz Republic according to its Regulations.

The award of arbitration passed according to this arbitration clause will be final and binding upon both parties".

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