Agreement between the Government of the Republic of Belarus and Government of the Russian Federation on the basic principles of creation of financial and industrial groups

of January 6, 1995

The government of the Republic of Belarus and the Government of the Russian Federation which further are referred to as with the Parties

for the purpose of realization in the bilateral relations of provisions of the Agreement on creation of the Economic union signed on September 24, 1993, and the Agreement on assistance in creation and development of the production, commercial, credit and financial, insurance and mixed transnational associations signed on April 15, 1994

aiming to provide favorable conditions for maintenance and development of production cooperation between the companies of both states,

attaching importance to use of modern forms of interaction in the field of productive, investing, business and financial and credit activity,

agreed as follows:

Article 1

The parties will promote creation of financial and industrial groups based on business entities of the Republic of Belarus and the Russian Federation.

Understand the group of companies, organizations, the organizations, financial institutions and investment institutes created on the basis of consolidation of the capitals of her participants for the purpose of maintaining joint productive and investing activities, establishment and development of technological and cooperation bonds, generation of profit, development and realization socially and economically significant programs and projects as financial and industrial group of the Party.

Article 2

When forming financial and industrial groups each of the Parties proceeds from need of settlement of the property rights to the property of legal entities of other state located in its territory falling under operation of the Agreement on mutual recognition of the rights and regulation of the relations of property signed on October 9, 1992.

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