[Title] TRADE AND PAYMENTS ARRANGEMENT BETWEEN THE REPUBLIC OF CHINA AND JAPAN
TRADE AND PAYMENTS ARRANGEMENT BETWEEN THE REPUBLIC OF CHINA AND JAPAN
Signed on May 23, 1961;
Entered into force on Ownbcr 1, 1961.
The Government of the Republic of China and the Government of Japan, desiring to expand trade and strengthen further economic relations between the Republic of China and Japan, have agreed as follows:
ARTICLE I
Both Governments shall take every possible measure to increase the volume of trade between the two countries to the highest possible level.
ARTICLE II
Both Governments shall endeavour to facilitate the exportation and importation of the commodities listed in Schedules "A" and "B" appended hereto in accordance with the laws and regulations which are or may hereafter be in force in the respective countries.
These Schedules shall not be construed as excluding the exchange of goods other than those enumerated therein.
ARTICLE Ill
(a) All payments betweet the two countries shall be effected in United States dollars and such other convertible currencies as are acceptable to the respective Gorvenments for international transactions in accordance with the laws and regulations which are or may hereafter be in force in the respective countries.(b) Payments may be effected in other currencies as may be approved by the competent authorities of the respective countries.
ARTICLE IV
Representatives of both Governments will consult each other at the request of either Government for the purpose of reviewing and facilitating trade between the two countries.
ARTICLE V
(a) This Arrangement shall come into force as from October 1, 1961 and shall remain in force for the period of one year. This Arrangement shall be automatically evtended for one successive year, unless written notice to terminate this Arrangement is given by either Government three months prior to the end of each effective period. (b) This Arrangement may be revised by mutual consent of both Governments.
(c) Any revision or termination of this Arrangement shall be without prejudice to any right or obligation accruing or incurred hereunder prior to the effective date of such revision or termination.
DONE at Tokyo in English in duplicate on the Twenty-third day of May, 1961.
For the Government of the Republic of China
(Signed) Chang Li-sheng
For the Government of Japan
(Signed) Zentaro Kosaka
SCHEDULE "A" Exports from Japan to the Republic of China
I. Fertilizer
(nitrogenous fertilizer and calcium superphosphate)
2. Textiles
3. Chemicals
4. Dyestuff, Paints and Pigments
5. Rolling stock
(locomotives and others)
6. Communication equipment
7. Ships
8. Vehicles and parts
9. Machinery (including bicycles)
10. Electric supplies
(complete plants and others)
11. Ferrous products
(semi-finished products, plates, black sheets, tin-plates, galvanized sheets, bars, rails, pipes, wires, cables and others)
12. Non-ferrous products
(plates, rods, bars, pipes, wires, cables and others)
13. Pharmaceuticals, medical supplies and equipment
14. Wood and wood products
(poles, railway-sleepers, mining, props and others)
15. Rebber products
(tires and tubes, industrial products, rubber cloth for raincoat and others)
16. Paper and paper products
(newsprints, cigarette paper, aluminium foil, paper braids and others)
17. Aquatic products
(dried and salted fish and others)
18. Manufactured food stuffs
(dairy products, canned goods, beverage, seasonings (pepper, curry powder, amino-acid and others) and others)
19. Agricultural products
(wheat flour, potatoes, ginseng,mushrooms, apples and others)
20. Miscellaneous
(ceramics, sheet glass, glass manufactures, porcelain ware, cement and others), graphite propucts,enamelleds iron ware (including brewing tank), insulating materials, fountain pens, pencils, and nother stationery, cutlery, hardware, celluloid goods, synthetic resin products, umbrellas and parts, buttons, slidefasteners sporting goods, musical instruments, leather ,manufactures, construction materials (including roofing, vulcanized fibre sheets and products, and building hardware), metal propucts, refractory goods (including crucibles), abrasive products, asbestos products, hand sewing needles, hand knitting machines, movies films, books, magazines, Yomeishu, succinic acid, tartaric acid, lactic acid, newspaper and others)
SCHEDULE "B"
Exports from the Republic of China to Japan
1. Sugar:RawBrown
2. Rice
3. Salt
4. Coal
5. Banana
6. Canned Pineapple
7. Black tea,tea by-products and tea waste
8. Molasses
9. Dried bamboo shoots
10.Taiwan cedar1
1.Bagasse pulp
12.Natural essence
13. Hat body
14. Miscllaneous
(cassava powder, malt sugar, degenea, ramie, sisal, jute, flax, dolomite, rice wine (or shaoshing wine), millet wine (or kaoliang wine), tomato paste, peanuts (excluding virginia type), karasumi, dried fruits (excluding pineapple), feather, hog, hog bristles, frozen pork, tsa-tsai, water chestnut, books, magazines, newspapers, movie films, camphor, animal feeds, leather goods and others)
EXCHANGE OF NOTES
Note from Mr. Zentaro Kosaka, Minister of Foreign Affairs of Japan, to Mr. Chang Li-sheng, Ambassador of the Republic of China to Japan
Monsieur l'Ambassadeur,
Tokyo, May 23, 1961.
On the occasion of the signing of the Trade and Payments Arrangement between Japan and the Republic of China, I have the honour to refer to the exchange of views at the recent trade talks held at Tokyo between the representatives of the Government of Japan and of the Government of the Republic of China with regard to appropriate measures for further promotion of our mutual trade and economic co-operation after the coming into force of the said Arrangement, and to inform Your Excellency that in accordance with the relevant laws and regulations of Japan and also taking into consideration the capability of banking institutions and exporters in Japan to extend credits, the Government of Japan will endeavor to facilitate and expedite the extension of credits by banking institutions and exporters in Japan to such institutions and importers in your country.
I avail myself of this opportunity to renew to Your Excellency, Monsieur l'Ambassadeur, the assurances of my highest considertion.
(Signed) Zentaro Kosaka
His Excellency
Mr. Chang Li-sheng,
Ambassador Extraordinary and
Plenipotentiary of the Republic of China.
Note from Mr. Chang Li-sheng, Ambassador of the Republic of China to Japan, to Mr. Zentaro Kosaka, Minister of Foreign Affairs of Japan
Tokoy, May 23, 1961.
Monsieur le Ministre,
I have the honour to acknowledge with appreciation receipt of Your Excellency's Note of today's date reading as follows:
"On the occasion of the signing of the Trade and Payments Arrangement between Japan and the Republic of China, I have the honour to refer to the exchange of views at the recent trade talks heId at Tokyo between the representatives of the Government of Japan and the Government of the Republic of China with regard to appropriate measures for further promotion of our mutual trade and economic co-operation after the coming into force of the said Arrangement, and to inform Your Excellency that in accordance with the relevant laws and regulations of Japan and also taking into consideration the capability of banking institutions and exporters in Japan to extend credits, the Government of Japan will endeavor to facilitate and expedite the extension of credits by banking institutions and exporters in Japan to such institutions and importers in your country."
I avail myself of this opportunity renew to Your Excellency, Monsieur le Ministre, the assurance of my highest consideration.
(Signed) Chang Li-sheng
His Excellency
Mr. Zentaro Kosaka,
Minister for Foreign Affairs of Japan.
AGREED OFFICIAL MINUTES
Tokyo, May 23, 1961.
The representatives of the Government of the Republic of China and of the Government of Japan have agreed on the following points in the course of their discussions on trade and payments held at Tokyo from March 28 to May 19, 1961:
1. The Trade Arrangement and the Payments Arrangement both signed at Tokyo on June 13, 1953 shall be terminated on September 30, 1961.
2. The China-Japan Open Account (herein-after referred to as "the Account) shall be closed in accordance with following measures:
(a) Both Governments undertake not to authorize new transactions involving the use of the Account on and after October 1, 1961.
(b) The Account shall, however, be kept open on and after October 1, 1961 for the purpose of settling outstanding balances until it is closed on or before March 29,1962 after the final payment referred to in sub-paragraph (e) will have been completed.
(c) Payments for the transactions for which import licences (including licences for imports on deferred payment basis) or authorization for remittances (including authorization for remittance of principals of investments as well as profits, dividends, interests and other accruals therefrom) have been issued on or before September 30, 1961 may be effected through the Account until January 28, 1962.
(d) Payments for the transactions described in the preceding sub-paragraph which will not have been completed by January 28, 1962 shall be effected in such currencies as provided for in Article III of the Trade and Payments Arrangement signed today.
(e) The final net balance of the Account shall be determined by the two Governments and the payment thereof shall be made by March 29, 1962 in United States dollars or such other currencies as mutually agreed upon by both Governments. The Account will be closed upon the completion of the payment.
(f) Technical details pertaining to the settlement of the Account shall be established by mutual agreement between the Bank of Taiwan through its agent, the Bank of China, Tokyo and the Bank of Japan.
3. Both representatives, taking into reference the 1960-61 Trade Plan, have stated their expectation that the volume of trade for the year beginning April 1, 1961 would reach the figure around 140 million U.S. dollars (exclusive of invisibles and transactions financed by the International Cooperation Administration of the United States of America). They have also expressed the earnest desire of their Governments for the expansion of trade to the highest possible level as stated in Article 1 of the Trade and Payments Arrangement signed today.
For the Government of the Republic of China
(Signed) Chang Li-shengFor the Government of Japan
(Signed) Zentero Kosaka