AGREEMENT ON CREATION OF THE ADVISORY BOARD OF CENTRAL BANKS OF THE REPUBLIC OF BELARUS AND UKRAINE

of November 15, 2001

The National Bank of the Republic of Belarus and the National Bank of Ukraine which further are referred to as with the Parties, being guided by the General agreement about cooperation between National Bank of the Republic of Belarus and the National Bank of Ukraine of April 27, 1999, for the purpose of assistance to development of the external economic relations between two countries, the foreign exchange markets and payment systems, improvements of conditions of activities of subjects of managing of the Republic of Belarus and Ukraine agreed as follows:

I. General provisions

1. The advisory board of the Central banks of the Republic of Belarus and Ukraine (which is hereinafter referred to as - Council) is created for the purpose of ensuring effective interaction of the Parties in the questions mentioned in preamble of this Agreement.

2. Council is consultative interbank body.

3. In the activities Council is guided by this agreement.

4. Meetings of Council are held, as a rule, once in quarter. The place of the regular meeting of Council is determined by the decision of Council.

II. Tasks and functions of Council

1. Coordination of actions of the Parties concerning enhancement and interaction of national monetary and bank systems.

2. Assistance to deepening of the external economic relations between the Republic of Belarus and Ukraine by means of development of the bilateral payment and settlement relations and ensuring mutual converting of national currencies on all segments of the market according to the international obligations and the national foreign exchange legislation assumed by the Parties.

3. Preparation and the organization of accomplishment of bilateral agreements in the field of banking activity.

4. Solution of the current problems of bilateral cooperation and experience exchange.

III. Structure of Council

1. About three permanent representatives from each of the Parties are part of Council:

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