MEMORANDUM OF UNDERSTANDING FOR
FREE TRADE ZONE COOPERATION BETWEEN
BAT AM INDONESIA FREE ZONE AUTHORITY OF THE REPUBLIC OF INDONESIA
AND
SANTACRUZ ELECTRONICS EXPORT PROCESSING ZONE SPECIAL ECONOMIC ZONE OF
THE REPUBLIC OF INDIA
Batam Indonesia Free Zone Authority (BIFZA) of the Republic of Indonesia and Santacruz Electronics Export Processing Zone Special Economic Zone (SEEPZ) of the Republic of India, hereinafter referred to as "the Parties";
Acknowledging the role of both Parties in encouraging and accelerating overall economic development of their respective countries;
Considering the need for the strengthening and institutionalizing of friendly relations between the Parties;
Referring to the Trade Agreement Between the Government of the Republic of Indonesia and the Government of the Republic of India, signed in Jakarta on 3 June 1978;
Referring to the Agreement Between the Government of the Republic of Indonesia and the Government of the Republic of India concerning the Promotion and Protection of Investment signed in Montego Bay on 8 February 1999;
Taking into Account the Agreed Minutes of the third meeting of the Joint Commission between the Republic of Indonesia and the Republic of India signed in Jakarta on 18 June 2007.
Pursuant to the prevailing laws and regulations in their respective countries; Have agreed as follows:
Article 1 Objective
Article 2
Scope of Cooperation
The scopes of cooperation as mutually agreed by the Parties in this MOU shall include: 1. Exchange of information and sharing of experiences through, among others, visits of
officials, expert and businessmen;
2. Co-operation in trade, industry and investment mission organized by each other; 3. Conducting studies on relevant projects for the interest of the Parties;
4. Informing each other about the economic event related to trade and investment developing activities to be held by the Parties. In case of joint exhibitions, the Parties will share available facilities on reciprocal basis, unless agreed otherwise;
5. Render service and provide advice to the investors of the Parties; 6. Act in good faith to implement the terms of the MOU;
7. Promoting trade, industry and investment cooperation between the two countries' business community;
8. Exploring further ways and means to implement the objectives stipulated in Article 1.
Article 3 Implementation
1. In realizing the objectives stipulated in Article 1, and implementing the programs mentioned in Article 2, the Parties will initiate and conduct relevant activities based on mutually beneficial co-operation.
2. Concerning cost facilities to the implementation of this cooperation, both Parties agree not to impose any financial obligation on either Party and shall make available facilities based on reciprocal basis, unless the Parties agree otherwise.
Article 4
Joint Consultative Committee
1. The Parties agree to establish a Joint Consultative Committee (hereinafter referred to as
ｾｾ｣ｯｭｭｩｴｴ･･ＢＩＮ＠ The composition and terms of reference of the Committee will be decided by the Parties in coordination with their respective Government institutions.
2. The Committee will convene a meeting annually or at any time agreed by both Parties, alternately in Indonesia and in India. In case of the meeting can not be held due to certain circumstances, documents shall be exchanged in lieu of the meeting.
