Memorandum on co-operation between the Ministry of the Russian Federation for Antimonopoly Policy and Support to Entrepreneurship and the Fair Trade Commission of the Republic of Korea
Ministry of the Russian Federation for Antimonopoly Policy and Support to Entrepreneurship and Fair Trade Commission of the Republic of Korea hereinafter referred as Parties, expressing the wish to promote co-operation in the field of competition policy, aiming at creation of favourable conditions for development of the bilateral relations, proceeding from the principles of equality and mutual benefit, have agreed as follows:
1. The Parties will promote and strengthen co-operation in the field of competition policy.
2. Co-operation between the Parties will be realised in the case of mutual interest in the basic directions as follows:
- improvement of legal framework on restrictive business practices, unfair competition; state antimonopoly control and regulation;
- exchange of experience in the field of investigation of cases, concerning the infringement of competition legislation;
- setting up of the conditions for effective functioning both product markets and stock markets;
- development of scientific and methodological basis for research in the field of competition policy.
3. The main forms of the Parties interaction in field of competition policy may be as follows:
- exchange of legal documents and information ;
- rendering methodological assistance, exchange of expert studies and consultations;
- organisation of regular contacts between higher authorities and experts in Moscow and Seoul;
- involving each other in training for the specialists of both Parties with the purpose to exchange of experience;
- organisation of bilateral and multilateral symposiums, conferences and seminars.
Transfer of textual information shall be provided in English either via international mail or at the meetings of the Parties' representatives.
4. Co-operation between the Parties will be realised on the basis of the programmes.
5. Budgeting of co-operation will be determined in each separate case.
6. The Parties should make their best to settle, through friendly means, all discrepancies
and disputes if any arising from co-operation under this Memorandum.
7. The Memorandum will not infringe and/or otherwise affect the rights and obligations of
the Parties relating to other international agreements where thev participate.
8. The present Memorandum will come into force from the date of effective signatures and will be effective before expiration of 6 months from the date of the written notification by one of the Parties on its intention to cease its effect.
Discontinuance of the present Memorandum will not affect the programs and projects started in the framework of the mentioned Memorandum.
The Memorandum in signed on 7 December 1999 in Seoul.
Two copies of the Memorandum, written in Korean, Russian and English languages are all of equal authenticity and force. In case of any divergence of interpretation, the English text shall prevail
