Page:United States Statutes at Large Volume 105 Part 3.djvu/764

 105 STAT. 2648 PROCLAMATION 6320—AUG. 2, 1991 tary data on the national economy and individual sectors, including information on foreign trade. 3. Each Party shall allow the other Party, when interested, the opportunity to consult on the formulation of rules and regulations which affect the conduct of 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 Soviet organizations and United States nationals and companies shall be made in United States dollars or any other freely convertible ciurency that may be mutually agreed upon by such organizations, nationals and companies. 2. No restrictions shall be placed by either Party upon the export from its territory of freely convertible currencies, including deposits or instnunents representative of such currencies, obtained in an authorized manner in connection with frade in products and services by nationals, companies and organizations of the other Party. 3. Nationals, companies and organizations of a Party holding currency of the other Party received in an authorized manner may deposit such currency in authorized financial institutions located in the territory of the other Party and may maintain and use such currency for local expenses in accordance with applicable laws and regulations of the other Party. 4. Without derogation from paragraph 2, in connection with frade in products and services, each Party shall grant to nationals, companies and organizations of the other Party most-favored-nation treatment with respect to: (a) opening and maintaining accounts, in both foreign and local currency, and having access to funds deposited, in financial institutions located in the territory of the Party; (b) payments, remittances and transfers of freely convertible currencies, or frnancial 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 offered by financial institutions authorized to deal in foreign exchange, and authorized means of obtaining freely convertible currencies; and [d] the receipt and use of local ciurency. Article VIII.—Protection of Intellectual Property 1. Proceeding from the importance of intellectual property and the necessity of its legal protection to promote trade and economic cooperation and acknowledging the necessity of creating more favorable condi-

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