TIFAاقرأ باللغة العربية
TRADE AND INVESTMENT FRAMEWORK AGREEMENT BETWEEN THE
GOVERNMENT OF THE REPUBLIC OF LEBANON AND
THE GOVERNMENT OF THE UNITED STATES OF AMERICA
CONCERNCNG THE DEVELOPMENT OF TRADE AND INVESTMENT RELATIONS
The Government of the Republic of Lebanon and the Government of the United States of America (individually a "Party" and collectively the "Parties"):
- Desiring to enhance the bonds of friendship and the spirit of cooperation between the two Parties;
- Desiring to promote international trade and to strengthen economic relations between the two Parties;
- Recognizing the importance of fostering an open and predictable environment for international trade and investment;
- Recognizing the benefits to each Party resulting from increased international trade and investment, and that trade-distorting investment measures and protectionist trade barriers would deprive the Parties of such benefits;
- Recognizing the essential role of private investment, both domestic and foreign, in furthering growth, creating jobs, expanding trade, improving technology, and enhancing economic development;
- Recognizing that foreign direct investment confers positive benefits on each Party;
- Desiring to encourage and facilitate private sector contacts between the two countries;
- Recognizing the desirability of resolving trade and investment problems as expeditiously as possible;
- Recognizing the .increased importance of services in trade between the Parties` economies and in their bilateral relations;
- Taking into account the need to eliminate non-tariff barriers in order to facilitate greater access to the markets of both countries and the mutual benefits thereof;
- Recognizing the importance of providing adequate and effective protection and enforcement of intellectual property rights and of membership in and adherence to intellectual property rights conventions;
- Recognizing the importance of providing adequate and effective protection and enforcement of worker rights in accordance with each Party`s own labor laws, and of improving the observance and promotion of internationally recognized labor rights and principles in the ILO Declaration On Fundamental Principles and Rights at Work and its Follow-up (1998);
- Desiring to ensure that trade and environmental policies are mutually supportive in the furtherance of sustainable development;
- Desiring to promote transparency and to eliminate bribery and corruption in international trade and investment;
- Desiring that this Trade and Investment Framework Agreement ("Agreement"} reinforce the multilateral trading system; and
- Considering that it would be in their mutual interest to establish a bilateral mechanism between the Parties for encouraging the liberalization of trade and investment between them.
To this end, the Parties agree as follows:
The Parties affirm their desire to promote an attractive investment climate and expand trade in products and services consistent with the terms of this Agreement. They shall take appropriate measures to encourage and facilitate the exchange of goods and services and to secure favorable conditions for long-term development and diversification of trade between the two countries.
The Parties shall establish a Lebanon -United States Council on Trade Investment ("the Council"), which shall be composed of representatives of both Parties. The side of the Republic of Lebanon will be chaired by the Ministry of Economy and Trade, and the U.S. side will be chaired by the Office of the U.S. Trade Representative ("USTR"). Both Parties may be assisted by officials of other government entities as circumstances require. The Council shall meet at least once a year and at such times as agreed by the two Parties.
The objectives of the Council are as follows:
- To monitor trade and investment relations, to identify opportunities for expanding trade and investment, and to identify issues relevant to trade or investment, such as intellectual property, labor, or environmental issues that may be appropriate for negotiation in an appropriate forum.
- To hold consultations on specific trade and investment matters of interest to the Parties.
- To identify and work toward the removal of impediments to trade and investment flows between the Parties.
- To seek the advice of the private sector and civil society, where appropriate, in their respective countries on matters related to the work of the Council.
Either Party may raise for consultation any trade or investment matter between the Parties.
Requests for consultation shall be accompanied by a written explanation of the subject to be discussed and consultations shall be held within 60 days of the request, unless the requesting
Party agrees to a later date. Each Party shall endeavor to provide for an opportunity for consultations before taking actions that could affect adversely the trade or investment interests of the other Party.
This Agreement shall be without prejudice to the domestic law of either Party or the rights and obligations of either Party under any other agreement to which it is a party.
This Agreement shall enter into force 30 days after the Parties complete an exchange of diplomatic notes certifying that they have completed any internal procedures necessary to implement the Agreement.
This Agreement shall remain in force unless terminated by mutual consent of the Parties or by either Party upon six months written notice to the other Party.
IN WITNESS WHEREOF, the undersigned, being duly authorized by their respective governments, have signed this Agreement.
DONE at Beirut, Lebanon this 30th day of November 2006, in the English and Arabic languages, with both texts being equally authentic.
Click Here to download the Agreement document.
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