Page:United States Statutes at Large Volume 107 Part 3.djvu/749

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PROCLAMATION 6577-nJULY 2, 1993 107 STAT. 2687 3. Each Party shall allow the other Party, and the other Party's nationals and companies, the opportunity to comment, to the extent practicable, on the fonnulation of laws, regulations, standards, and achninistrative rulings which affect the conduct of their business activities. Article VII—Financial Provisions Relating to Trade in Products and Services 1. Unless otherwise agreed between the parties to individual transactions, all commercial transactions between nationals and companies of the Parties shall be made in United States dollars or any other currency that may be designated by the International Monetary Fund as being a freely usable currency. 2. Neither Party shall restrict the transfer from its territory of convertible currencies or deposits, or payment instruments representative thereof, obtained in connection with trade in products and services by nationals and companies of the other Party. 3. Nationals and companies of a Party holding currency of the other Party received in an authorized manner may deposit such currency in financial institutions located in the territory of the other Party and may maintain and use such currency for local expenses. 4. Without derogation from paragraphs 2 or 3 of this Article, in connection with trade in products and services, each Party shall grant to nationals and companies of the other Party the better of most-favored-na- tion or national treatment with respect to: (a) opening and maintaining accounts, in both local and foreign currency, and having access to thefr funds deposited, in financial institutions located in the territory of the Party; (b) payments, remittances and transfers of convertible currencies, or financial instruments representative thereof, between the territories of the two Parties, as well as between the territory of that Party and that of any third country; (c) rates of exchange and related matters, including access to freely usable currencies, such as through ciuxency auctions; and (d) the receipt and use of local currency. Article VIII—Protection of Intellectual Property Rights 1. Each Party shall provide adequate and effective protection and enforcement for patents, trademarks, copyrights, trade secrets, and integrated circuit layout designs as set fortii in the text of the attached side letter on intellectual property. Article IX—Areas for Further Cooperation 1. For the purpose of further developing bilateral trade and promoting a steady increase in the exchange of products and services, both Parties