76/753/Euratom: Commission Decision of 17 September 1976 concluding the framework Agreement for commercial and economic cooperation between the European Communities and Canada

The Framework Agreement for commercial and economic cooperation between the European Communities and Canada is hereby concluded and approved on behalf of the European Atomic Energy Community. The text of the Agreement is annexed to this Decision.

The President of the Commission shall give, as regards the Community, the notification provided for in Article 8 of the Agreement .

This Decision shall enter into force on the day following its publication in the Official Journal of the European Communities.

In accordance with the rights and obligations under the General Agreement on tariffs and trade, the Contracting Parties undertake to accord each other, on an equal and reciprocal basis, most-favoured-nation treatment.

1 The Contracting Parties undertake to promote the development and diversification of their reciprocal commercial exchanges to the highest possible level. To this end, they shall, in accordance with their respective policies and objectives; (a) cooperate at the international level and bilaterally in the solution of commercial problems of common interest; (b) use their best endeavours to grant each other the widest facilities for commercial transactions in which one or the other has an interest; (c) take fully into account their respective interests and needs regarding access to and further processing of resources.

2 The Contracting Parties shall use their best endeavours to discourage, in conformity with their legislation, restrictions of competition by enterprises of their respective industries, including pricing practices distorting competition.

3 The Contracting Parties agree, upon request, to consult and review these matters in the Joint Cooperation Committee referred to in Article IV..

1 The Contracting Parties, in the light of the complementarity of their economies and of their capabilities and long-term economic aspirations, shall foster mutual economic cooperation in all fields deemed suitable by the Contracting Parties. Among the objectives of such cooperation shall be: the development and prosperity of their respective industries, the encouragement of technological and scientific progress, the opening up of new sources of supply and new markets, the creation of new employment opportunities, the reduction of regional disparities, the protection and improvement of the environment, generally to contribute to the development of their respective economies and standards of living.

2 As means to such ends, the Contracting Parties shall as appropriate encourage and facilitate inter alia: broader inter-corporate links between their respective industries, especially in the form of joint ventures, greater participation by their respective firms in the industrial development of the Contracting Parties on mutually advantageous terms, increased and mutually beneficial investment, technological and scientific exchanges, joint operations by their respective firms and organizations in third countries.

3 The Contracting Parties will as appropriate encourage the regular exchange of industrial, agricultural and other information relevant to commercial and economic cooperation as well as the development of contacts and promotion activities between firms and organizations in these areas in the Communities and Canada.

4 Without prejudice to the relevant provisions of the Treaties establishing the Communities, the present Agreement and any action taken thereunder shall in no way affect the powers of the Member States of the Communities to undertake bilateral activities with Canada in the field of economic cooperation and to conclude, where appropriate, new economic cooperation agreements with Canada.

A joint Cooperation Committee shall be set up to promote and keep under review the various commercial and economic cooperation activities envisaged between the Communties and Canada. Consultations shall be held in the Committee at an appropriate level in order to facilitate the implementation and to further the general aims of the present Agreement. The Committee will normally meet at least once a year. Special meetings of the Committee shall be held at the request of either Party. Subcommittees shall be constituted where appropriate in order to assist the Committee in the performance of its tasks.

1 Nothing in this Agreement shall affect or impair the rights and obligations of the Contracting Parties under the General Agreement on tariffs and trade.

2 To the extent that the provisions of the present Agreement are incompatible with the provisions of the Agreement between the European Atomic Energy Community and Canada of 6 October 1959, the provisions of the present Agreement shall prevail.

3 Subject to the provisions concerning economic cooperation in Article III (4), the provisions of this Agreement shall be substituted for provisions of Agreements concluded between Member States of the Communities and Canada to the extent to which the latter provisions are either incompatible with or identical to the former.

A separate Protocol is agreed between the European Coal and Steel Community and its Member States, on the one hand, and Canada, on the other.

This Agreement shall apply to the territory of Canada and to the territories to which the Treaties establishing the Communities apply, on the conditions laid down in those Treaties.

This Agreement shall enter into force on the first day of the month following that during which the Contracting Parties have notified each other of the completion of the procedures necessary for this purpose. It shall be of indefinite duration and may be terminated by either Contracting Party after five years from its entry into force, subject to one year's notice.

This Agreement is drawn up in two copies in the Danish, Dutch, English, French, German and Italian languages, each of these texts being equally authentic.