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October 08, 1995

The Department of Agriculture of the Republic of the Philippines and the Ministry of Jehade Sazandegi, Islamic Republic of Iran, hereinafter referred to as the "Contracting Parties", with intention of developing technical and trade cooperation between both parties:

Taking into account that both Parties have special interests in technical and trade cooperation of fisheries and aquatic resources,

Considering that this Memorandum of Understanding (hereinafter referred to as the Memorandum) will promote technical cooperation and trade activities between the two countries,

Hereby Agree as Follows:

ARTICLE I

Implementation of this Memorandum will be the responsibility of the Department of Agriculture/Bureau of Fisheries and Aquatic Resources of the Republic of the Philippines and the Fisheries Company of the Ministry of Jahade Sazandegi of the Islamic Republic of Iran.

ARTICLE II

The Parties will develop and pursue the following cooperation activities:

1. Training Cooperation in the field of:

a. Shrimp Breeding and Production

b. Brackishwater Fish Production such as milkfish, Groupers, Siganids, Mullet

c. Seaweed Production and Processing through the private sector of both countries

2. Joint Research Undertaking on Shrimps and Brackishwater Fish

3. Joint-Venture on Shrimp, Seaweeds and Brackishwater Fishery Business through the private sector of both countries

4. Marketing Agreement on Shrimp Feeds and Shrimp Feed Ingredients (The Philippines shall supply to Iran)

5. Exchange of Information through;

a. Field visits

b. Technical reading materials

c. Conferences

ARTICLE III

In order to facilitate implementation of this memorandum, each Party will designate a Coordinator who will oversee the activities under this Memorandum.

The Philippine coordinator will be Director Dennis B- Araullo of the Bureau of Fisheries and Aquatic Resources, Department of Agriculture. The Iranian coordinator will be Director M. Yassaie of the Aquaculture Department, Iranian Fisheries Company, Ministry of Jihade Sazandegi.

Both Parties shall also appoint their respective representatives to discuss and mutually agree on details of implementation of the agreed projects.

ARTICLE IV

As a general rule, each Party shall defray the costs of its own participation, unless the Parties mutually agree on other arrangements.

ARTICLE V

Import and export of materials under the exchange activities mutually agreed upon by the parties, will be effected in conformity with the issuance of authorization by authorities of both Parties.

ARTICLE VI

This Memorandum shall enter into force upon signature and shall remain in force for five (5) years, unless terminated earlier by either Party upon six-month written notice to the other Party.

ARTICLE VII

This Memorandum may be modified upon mutual agreement by both parties, with the modifications entering into force upon approval of both Parties.

Any amendment to this Memorandum mutually agreed upon shall be effected by an exchange of notes.

ARTICLE VIII

In the event of the termination of this Memorandum, the Parties shall consult with each other regarding the completion of cooperation activities and progress.

Done in Manila, the Republic of the Philippines this 08th day of October 1995, (16 Mehr, 1374) during the state visit of His Excellency President Akbar Hashemi Rafsanjani of the Islamic Republic of Iran to the Philippines on 8-10 October 1995, (16-18 Mehr, 1374)