The Contracting Parties shall take all necessary measures to promote continual and steady development of trade and economic relations between the two countries and create favourable conditions to this end.
The Contracting Parties shall accord each other the most favourable nation treatment with regard to the imposition of customs duties and other charges, as well as to regulations of customs administration and customs clearance.
This provision shall not apply to:
1) advantages accorded or to be accorded by either Contracting Party to neighbouring countries in order to facilitate frontier trade;
2) advantages accorded or to be accorded by either Contracting Party to the member countries of a customs union and a free trade area.
The Contracting Parties shall, in accordance with the provisions of this Agreement and within the framework of their respective laws and regulations in force, encourage and protect the investment by the investors of one Contracting Party in the territory of the other Contracting Party.
The Contracting Parties shall, within the framework of their respective laws and regulations in force, encourage the firms, enterprises and organizations of both countries to develop diversified economic cooperation and create favourable conditions to this end.
The firms, enterprises and organizations of both countries, which undertake foreign trade and economic activities, shall follow the existing laws and regulations of their respective countries and international trade practices with regard to the conclusion and performance of contracts.
The prices of commodities and services shall be decided on the basis of the current international prices of the corresponding commodities and services.
Payments for commodities shall be made in a freely convertible currency or in other forms accepted by the parties in each contract and in accordance with the existing laws and regulations of foreign exchange of their respective countries.
In order to facilitate and promote the exchange of commodities and service, the Contracting Parties will stimulate and support making of agreements between authorized banks in accordance with the common international banking practices.
The Contracting Parties shall facilitate each other in the organization of trade fairs, exhibitions, economic and technical symposiums and the exchange of trade delegations and groups in their own territory.
Either Contracting Party shall, within the framework of its laws and regulations in force, permits the firms, enterprises and organizations of the other Contracting Party, which undertake trade and economic activities between the two countries, to establish permanent representative offices and provide necessary conditions for their normal operation in its own territory.
1. The Contracting Parties agree to set up a Joint Commission on Trade and Economic Cooperation Comprising representatives of both governments. Both presidents of the Joint Commission shall be on the level of general director of department of ministry which is in charge of foreign economic relations and trade.
2. The duties of the Commission are: to promote mutual understanding, to examine the implementation of this Agreement, to solve the problems which may arise from trade and economic activities between the two countries, to put forward proposals which aim to promote the development of bilateral trade and economic relations to submit them to their respective government.
3. The Joint Commission, under the agreement between two sides, shall hold meeting annually in Beijing and Zagreb alternately.
This Agreement enters into force thirty days after the date on which both Contracting Parties have notified each other that they have fulfilled their respective internal legal procedures, and shall remain in force for five years. It shall be tacitly renewed from year to year provided that neither Contracting Party notifies the other Party in writing of its denunciation of the Agreement six months before the date of expiry.
In case of termination of this Agreement, its provisions shall be effected for all contracts concluded during the valid period of this Agreement until these contracts have completely fulfilled.
This Agreement is done in duplicate at Beijing this day of 27. October 1992 in Chinese, Croatian and English languages, all the three texts being equally authentic.
In case of any divergence of interpretation and implementation of this Agreement, the English text shall prevail.
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