Agreement between the Government of the Russian Federation and Government of the Republic of Latvia on the principles of trade and economic relations between the Russian Federation and Republic of Latvia

of October 28, 1992

The government of the Russian Federation and the Government of the Republic of Latvia, further referred to as - Contracting Parties, wishing to promote development and strengthening of trade relations between two countries on the basis of equality and mutual advantage, recognizing importance of the measures directed to creation of strong basis for successful cooperation increase between two countries

proceeding from need of creating favorable conditions for development of the market relations between business entities of two countries,

intending to develop the relations in the field of trade according to the principles of the General Agreement on Tariffs and Trade and meaning further to switch over to free trade regime,

agreed as follows:

Article 1

Contracting parties will aim at providing is greatest possible harmonious and all-round development of trade relations between two countries. Each of Contracting Parties will abstain from the actions causing damage to other Contracting Party.

Article 2

For the purpose of providing mutually advantageous conditions for development of trade relations between two countries Contracting Parties will provide regime of the most favored nation in that, as for:

customs duties, taxes and fees applied concerning import and export including methods of collection of such duties, taxes and fees;

the provisions concerning customs clearance, transit, warehousing, overload and other services of this sort;

taxes and other internal duties of any sort levied directly or indirectly;

payment methods and transfer of such payments;

the rules concerning sale, purchase, transportation, distribution and use of goods in the domestic market;

issues of import licenses and commodity export.

Article 3

Provisions of Article 2 of this agreement do not extend on:

the benefits provided to the certain countries for the purpose of simplification of border trade;

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