Memorandum of Understanding between the Eurasian Economic Commission and the General Secretariat of the Andean Community (Lima, March 23, 2017)

The Eurasian Economic Commission and the General Secretariat of the Andean Community, hereinafter referred to as the Parties,

based on the Treaty on the Eurasian Economic Union dated May 29th 2014 and the Cartagena Agreement dated May 26th 1969,

desiring to lay the groundwork for comprehensive cooperation of the Parties,

standing for development of closer interaction between the Eurasian Economic Union and the Andean Community,

seeking to open new prospects of cooperation in different areas between the Eurasian Economic Union Member States and the Andean Community Member States,

relying on the principles of mutual respect, transparency, mutually beneficial cooperation and equality of the Parties,

have agreed as follow:

1. The goal of this Memorandum is to promote comprehensive cooperation between the Parties.

2. The Parties will endeavor to cooperate within their competences in the areas of mutual interest by means of:

conducting conferences, forums, seminars, round table discussions, inter alia, with participation of representatives of the authorities and business communities of the Eurasian Economic Union Member States and the Andean Community Member States;

exchanging information, including statistical information, in compliance of confidentiality obligations and protection of information envisaged by international treaties and acts constituting the Eurasian Economic Union law, the Andean Community law, and the legislation of the Eurasian Economic Union Member States and the Andean Community Member States;

exchanging experience in the area of the regional economic integration;

carrying out other activities.

3. The Parties will endeavor to carry out regular contacts between the Members of the Board of the Eurasian Economic Commission and the officials of the General Secretariat of the Andean Community.

4. This Memorandum is not an international agreement, does not create rights and obligations regulated by international law and does not impose any financial obligations on the Parties.

5. This Memorandum may be amended by the signing of a relevant protocol upon mutual agreement of the Parties.

6. This Memorandum will come into effect upon signing.

7. Either Party may terminate this Memorandum by sending a written notification to the other Party through the diplomatic channels. This Memorandum shall be terminated from the date of receipt of such notification by the other Party.