TNAG-1173-FCO40-1465-Future-of-Hong-Kong-special-study-by-FCO-for-the-Prime-Minis-1982 — Page 23

ARTICLE 7

Trade in goods and the provision of services between the two Contracting Parties shall be effected at market-related prices and rates.

ARTICLE 8

The Contracting Parties agree that payments for transactions shall be made, in accordance with their respective existing laws and regulations, in currencies of the Member States of the Community, Renminbi or any convertible currency accepted by the two parties concerned in the transactions.

ARTICLE 9

1. An EEC-China Joint Committee for Trade shall be set up, comprising representatives of the European Economic Community on the one hand and representatives of the People's Republic of China on the other.

2. The tasks of the Joint Committee shall be as follows:

to monitor and examine the functioning of this Agreement;

to examine any questions that may arise in the implementation of this Agreement;

-to examine problems that could hinder the development of trade

between the Contracting Parties;

to examine means and new opportunities of developing trade between the Contracting Parties and other problems relating to their trade and to make recommendations that may help to attain the objectives of this Agreement.

3. The Joint Committee shall meet once a year, in Brussels and Peking alternately. Extraordinary meetings may be convened by mutual agreement, at the request of either Contracting Party. The office of chairman of the Joint Committee shall be held by each of the two Contracting Parties in turn. Where both Parties consider it necessary, the Joint Committee may set up working parties to assist it in its work.

ARTICLE 10

As far as the European Economic Community is concerned, this Agreement shall apply to the territories in which the Treaty establishing the European Economic Community is applied, and under the conditions laid down in that Treaty.

ARTICLE 11

This Agreement shall enter into force on the first day of the month following the date on which the Contracting Parties have notified each other of the completion of the legal procedures necessary for this purpose(1). It is

() The Agreement entered into force on 1 June 1978.

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