ITALY-COMMERCIAL RELATIONS-DECEMBER 16, 1937 If either High Contracting Party establishes or maintains, directly coAdinstratio ea of international pay- or indirectly, any form of control of the means of international paye- t e r n a t . nl pay- ment,' it shall, in the administration of such control: (a) Impose no prohibition, restriction, or delay, on the transfer Tran'sfer of pay-r of payment for imports of articles the growth, produce, or manu- tionsetc. facture of the other High Contracting Party, or on the transfer of payments necessary for and incidental to the importation of such articles; (b) With respect to rates of exchange, and taxes or surcharges on etcl.ts of exchange, exchange transactions, in connection with payments for or payments necessary and incidental to the importation of articles the growth, produce, or manufacture of the other High Contracting Party, accord unconditionally treatment no less favorable than that accorded in connection with the importation of any article the growth, produce, or manufacture of any third country; and (c) With respect to all rules and formalities relating to exchange tiesreelatig to ex transactions in connection with payments for or payments necessary change transactions. and incidental to the importation of articles the growth, produce, or manufacture of the other High Contracting Party, accord uncon- ditionally treatment no less favorable than is accorded in connection with the importation of the like article the growth produce, or manufacture of any third country. With respect to non-commercial transactions each High Con- tronctionsrcal tracting Party shall apply every form of control of foreign exchange in a non-discriminatory manner as between the nationals of the other High Contracting Party and the nationals of any third country. In the event that either High Contracting Party establishes or ernrmentmonopolies. maintains a monopoly for the importation, production or sale of a particular product or grants exclusive privileges, formally or in effect, to one or more agencies to import, produce or sell a particular product, the High Contracting Party establishing or maintaining such monop- oly, or granting such monopoly privileges, shall, in respect of the foreign purchases of such monopoly or agency, accord the commerce of the other High Contracting Party fair and equitable treatment. In making its foreign purchases of any article such monopoly or agency shall be influenced solely by competitive considerations such as price, quality, marketability, and terms of sale. Either High Contracting Party shall supply such information with respect to the foreign purchases of every such monopoly or agency as the other Party may at any time request.utual consu The High Contracting Parties will consult with each other in respect tion respecting provi- of any matter presented by either Party relating to the application onsof article. of the provisions of this article.
- TMemorandum
of Memorandum of Interpretationof Article VIII. interpretation of rti- cle VIMI. Paragraphe three.-The total amount of any permitted import, of share of imports. which a share is to be assigned by either country to the other, shall include all imports of the regulated article, including such imports as may be made through public or private clearing, compensation, or payment arrangements. So in original. 363
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