Page:United States Statutes at Large Volume 115 Part 3.djvu/585

 PROCLAMATION 7449—JUNE 8, 2001 115 STAT. 2659 respect to commercial transactions They also shall not claim or enjoy immunities from taxation with respect to commercial uansactions, except as may be provided in other bilateral agreemems. 2 The Parties encourage the adoption of arbitrationforthe settlemem ofdisputes arising out ofcommercial transactions conchided between nationals or companies of the United States of America and nationals or companies of the Socialist Republic of Vietnam. Such arbitration may be provided for by agreemems in contracts between such nationals and companies, or in separate written agreements between them. 1 The parties to such transactions may provide for arbitration under any imemationally recognized arbitration rules, includingthe UNCITRAL Rules of December 15, 1976, and any modifications thereto, in which case the parties should designate an Appointii^ Authority under said rules in a country other than the United States of America or the Socialist Republic of Vietnam A. The parties to the dispute, unless otherwise agreed between them, should specify as the place of arbitration a coumry other than the United States of America or the Socialist Republicof Vietnam, that is apattyto theConvention on theRecognition and Enforcement of Foreign Arbitral Awards, done at New York, June 10, I9S8. > Nothing in this Article shall be construed to prevent,, and the Parties shall not prohibit, the parties from agreeing upon any other fotm of arbitration or on thelawto be applied in such arbitration, or other form of dispute settlement which they mutually prefer and agree best suits their particular needs. > EachParty shall ensure that an effective means exists within its territory for the recognition and enforcement of arbitral awards. Articles State Tracing 1. The parties may establish or maintain a state enterprise, or grant to any enterprise, formally or in effect, exclusive or special privileges, toimport and export theproduas listed in Annex C,provided however, that any such enterprise shall, in its purchases or sales involving either imports or exports, act in a manner consistent with the general principles of nondiscriminatory treatment prescribed in this Agreement for governmental measures affecting imports or exports by private traders. ! The provisions of paragraph 1 of thk Article shall be understood to require that such enterprises shali, having due regard to the other provisions of this Agreement, make any such purchases or sales solely in accordaace with commercial considerations, including ^^ h

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