Kuwait, 13 February 1974The Government of Republic of India
AND
The Government of State of KUWAIT
HEREINAFTER referred to in this Agreement as the Contracting Parties, being desirous of consolidating and furthering economic and
trade relations between their two countries on the basis of their mutual interests,
HAVE AGREED as follows :
Article I
The two Contracting Parties, shall, within the rules, regulations and laws in force in each of their two countries do their best to
facilitate the import and export of the agricultural and animal products, natural and mineral resources and industrial products of
each of them.
Article 2
The two Contracting Parties agree that :
(1) The trade between their two countries, unless otherwise agreed to between them, shall be conducted through normal trade channels.
(2) The payments arising out of the transactions under this Agreement shall be settled in any freely convertible currency which the
two Contracting Parties agree upon.
(3) Facilities to further promote trade between the national companies/corporations of both countries, shall be encouraged.
Article 3
For furthering and expanding trade between them the two Contracting Parties shall, subject to their respective laws, rules and regulations
accord to the nationals, organisations or institutions of each other, all necessary facilities for the holding of trade fairs and
exhibitions in their respective territories.
Article 4
Merchant ships and sailing vessels belonging to either of the two Contracting Parties together with their cargoes, shall enjoy, in
respect of all matters relating to navigation, free entry into ports open to foreign trade, use of ports and harbour facilities and
other facilities according to the rules and regulations prescribed for the purpose. Any concessions accorded to ships engaged in
coastal trade of either party shall not be available under this Article to the other Party.
Article 5
Nationals of either Contracting Party shall be permitted to enter, sojourn, travel or reside in territory of the other Party for purposes
of promoting trade and commerce between the two countries, provided that enjoyment of above rights shall be subject to laws and regulations
in force of the other party.
Article 6
The two Contracting Parties undertake to cooperate for mutual benefit with a view to strengthening economic relations between the
two countries, and to furthering inter-change and use of scientific and technical knowledge particularly by affording opportunities
for technical training and assistance wherever possible.
Article 7
The two Contracting Parties agree to explore the possibilities for establishment of joint ventures for mutual benefit of both countries.
Article 8
The two Contracting Parties may, within the terms of the present Agreement, enter into specific trading arrangements from time to
time as may be found necessary.
Article 9
In order to ensure smooth implementation of this Agreement, the two Governments agree to establish within 3 months from the date of
coming into force of this Agreement, a Joint Committee composed of representatives to be appointed by the two Governments. This Committee
shall convene upon request of either party in New Delhi and Kuwait alternately and shall have the following tasks :
(i) To formulate specific trading arrangements envisaged in Article 8.
(ii) To eliminate difficulties and settle all problems that may arise in implementation of this Agreement.
(iii) To make suggestions aiming at improvement and expansion of economic relations between the two countries.
(iv) To identify fields, projects, commodities etc. for expansion of economic cooperation and for promoting trade exchanges between
the two countries.
Article 10
This Agreement shall be subject to approval by the competent authorities in accordance with the constitutional procedures of the Contracting
Parties concerned and shall enter into force with effect from the date on which the documents conveying ratification of approval
are exchanged.
This Agreement shall remain in force for a period of five years and shall thereafter continue to be renewed automatically for further
period of five years unless a notice of termination in writing is given by either of the Contracting Parties three months before
the expiry of the Agreement.
Both Contracting Parties have agreed that the provisions of the present Agreement shall be applied provisionally from the date of
its signature.
IN WITNESS WHEREOF the representatives duly authorised by their respective Governments have signed this Agreement.
DONE at Kuwait on 13th February 1974 in duplicate, in the Arabic and English languages, both texts being equally authentic. In case
of any divergency, the English text will prevail.
Sd/-
Prof. D.P. CHATTOPADHYAYA
Minister of Commerce,
For the Government of the Republic of India
Sd/-
KHALID AL-ADSANI
Minister of Commerce and Industry,
For the Government of the State of Kuwait
