1 Recognizing the mutual interests and benefits in strengthening tourism cooperation within a framework of friendship and in pur-suance of their desire to cooperate in defined areas, the Touri-sm Bureau in Taipei and the Tourist Promotion Board in Singapore(hereinafter referred to as the "Parties") have reached the fol-lowing understanding: 1. (1) Both Parties agree to cooperate in tourism promotion, tr-aining and information exchange in order to develop the healthy growth of their tourism industries. (2) Both Parties agree to pursue the above by: (a) carrying out joint projects identified in areas of m- utual interests; (b) exchanging information on tourism in du s trie s and tourism development projects; (c) facilitating upgrading of personnel through exchanges and study visits of personnel of the two bodies; and (d) exploring opportunities for cooperation in any other areas of mutual interests. 2. (1) The form and cost for individual activities of cooperati-on under paragraph 1 of this Memorandum of Understanding shall be agreed upon by both Parties. Each project enter- ed into by the Parties under this Memorandum of Understa- nding shall be governed by its own project document. (2) When agree, the activities concerned shall be implementedin conformity with the prevailing laws and regulations in the relevant place in which the activity is being undert- aken. (3) Both Parties shall endeavour to facilitate all formaliti-es in connection with the preparation, negotiation and i- mplementation of activities within the framework of this Memorandum of Understanding and shall maintain close and direct contact. 3. (1) Both Parties may appoint project representatives to nego-tiate specific projects within the areas of cooperation referred to in paragraph 1. (2) Both Parties agree to review regularly the progress of t-ourism cooperation under this Memorandum of Understanding . Meetings will be convened as required and at a venue a- nd date agreed between the Parties. (3) Each Party shall be responsible for its own expenses inc-urred in sending representatives to attend review meetin- gs. 4. (1) This Memorandum of Understanding shall come into effect on the date on which it is signed by both Parties. It wi- ll continue for a period of Five years. Thereafter this memorandum of Understanding may be extended for a further period by agreement between both Parties. (2) Either Party may at any time terminate this Memorandum ofUnderstanding by giving the other Party at least three mo- nths' notice in writing. (3) This Memorandum of Understanding may be amended and supp-lemented at any time as decided and agreed by both Parti- es. The Tourism Bureau in Taipei and the Tourist Promotion Board in Singapore wish to extend their fullest cooperation to work with each other with the signing of this Memorandum of Understanding in TAIPEI on MAY 11, 1991. (Signed) MAO CHI KUO (DR) DIRE CTOR GENERAL TOURISM BUREAU IN TAIPEI (Signed) PEK HOCK THIAM EXECUTIVE TOURIST PROMOTION BOARD IN SINGAPORE