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December 19, 2013
AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF THE PHILIPPINES AND THE GOVERNMENT OF THE SWISS CONFEDERATION ESTABLISHING A JOINT ECONOMIC COMMISSION
The Government of the Republic of the Philippines and the Government of the Swiss Confederation (hereinafter referred to as "the Parties"):
Considering the longstanding bonds of friendship and cooperation between the two countries;
Conscious of the importance of an institutionalized dialogue for the development and the diversification of reciprocal trade and investment flows;
Desiring to explore the possibilities to enlarge their cooperation in trade and economic fields;
Recognizing that eliminating barriers to bilateral trade and investment will enhance economic growth and encourage increased productivity to the benefit of both people;
Noting the importance of regional integration processes in which both countries are engaged;
Reaffirming their rights and obligations under the Agreement establishing the Word Trade Organization and other bilateral and multilateral trade and economic cooperation instruments;
The Parties have reached the following understanding:
ARTICLE I: ESTABLISHMENT
The Parties hereby establish a Philippine-Swiss Joint Economic Commission, (hereinafter referred to as "the Commission").
ARTICLE II: OBJECTIVES
The Joint Economic Commission shall discuss issues related to the improvement of business environment, particularly to:
DONE in Makati City, Philippines, this 28th day June 2013.
Considering the longstanding bonds of friendship and cooperation between the two countries;
Conscious of the importance of an institutionalized dialogue for the development and the diversification of reciprocal trade and investment flows;
Desiring to explore the possibilities to enlarge their cooperation in trade and economic fields;
Recognizing that eliminating barriers to bilateral trade and investment will enhance economic growth and encourage increased productivity to the benefit of both people;
Noting the importance of regional integration processes in which both countries are engaged;
Reaffirming their rights and obligations under the Agreement establishing the Word Trade Organization and other bilateral and multilateral trade and economic cooperation instruments;
The Parties have reached the following understanding:
The Parties hereby establish a Philippine-Swiss Joint Economic Commission, (hereinafter referred to as "the Commission").
The Joint Economic Commission shall discuss issues related to the improvement of business environment, particularly to:
- identify the means to increase bilateral trade and investment flows;
- facilitate trade and investment;
- examine opportunities to conclude economic agreements;
- organize consultations and official visits through delegation(s) or missions to deal with specific economic and trade issues of interest to both Parties;
- establish a mechanism for regular data exchange on trade and investment;
- enhance cooperation and develop initiatives with relevant business associations; and
- raise at any time any economic and trade issues.
ARTICLE III: ORGANIZATION
- The Commission shall be co-chaired by a representative of the Philippine Department of Trade and Industry and a representative of the Swiss Federal Department of Economic Affairs, Education and Research.
- Representatives of other governmental entities and private sectors may participate in the Commission as appropriate and will be appointed by the respective Co-Chairpersons.
ARTICLE IV: PROCEDURES
- The Commission shall meet regularly or when considered appropriate by the Parties, the venue alternating between the Philippines and Switzerland, as may be arranged by the Parties.
- The Commission shall adopt joint minutes and a work programme with the aim of achieving the objectives of this Agreement.
- The agenda for each Commission meeting shall be agreed at least one month in advance in order to allow for necessary preparations by the Parties.
- If considered necessary, the Commission may establish working groups on specific issues.
- The working groups shall present their reports to the Commission for its final approval or adoption.
ARTICLE V: RELATIONS WITH THE PRIVATE SECTOR
- The Commission shall work closely with the private sector in identifying issues to be dealt with.
- The Commission may seek the advice and active participation of representatives of business associations and of the private sector at its meetings and its work.
- The working groups established by the Commission may be co-chaired by a representative of both governments and by a representative of the private sector of both countries, when appropriate.
ARTICLE VI: FINAL CLAUSES
- This Agreement shall not lead the Philippines and the Swiss Confederation to take any measure contrary to or inconsistent with their international obligations. This Agreement shall not have any financial obligations of whatever nature for the Parties or other participants.
- This Agreement shall enter into force on the date of later written notification by the Parties, through diplomatic channels, indicating that the domestic requirements for its entry into force have been complied with.
- This Agreement may be amended or revised by mutual consent of both Parties. Such amendment or revision shall enter into force in accordance with the provisions of paragraph 2 of this Article.
- Either Party may terminate this Agreement, at any time by giving, through diplomatic channels, notice to terminate six (6) months prior to the date of the intended termination.
DONE in Makati City, Philippines, this 28th day June 2013.
FOR THE GOVERNMENT OF THE REPUBLIC OF THE PHILIPPINES | FOR THE SWISS FEDERAL COUNCIL |
(SGD.) GREGORY L. DOMINGO | (SGD.) MARIE-GABRIELLE INEICHEN-FLEISCH |
Secretary | State Secretary and Director of the |
DEPARTMENT OF TRADE AND INDUSTRY | STATE SECRETARIAT FOR ECONOMIC AFFAIRS |
Entry into Force: December 19, 2013