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1 In order to strengthen the links of friendship and the economicrelations existing between the respective countries and more pa-rticularly in order to promote temporary admission of goods infavour of enterprises from the European Community and from Chin-a-Taiwan,EUROCHAMBRES, the Association of European Chambers of Commerceand Industry, acting on behalf of the guaranteeing associationsof the European Community and represented by its President, Mr.R. DELOROZOY, and CHINA EXTERNAL TRADE DEVELOPMENT COUNCIL, represented by its Se-cretary General, MR. AGUSTIN TINGTSU LIUfollowing consultation in Brussels held on February 7, 1990, ha-ve agreed to organize a system to facilitate the temporary admi-ssion of goods in accordance with the following provisions:RTICLE 1The protocol on the organization of a system of international c-ustoms deposits with China-Taiwan for temporary admission of go-ods, its enclosures and all the conventions and texts mentionedtherein are an integrant part of the present agreement.ARTICLE 2The management of the present agreement is ensured by the parti-es to the agreement.The administration and management of the protocol are ensured bythe International Bureau of Chambers of Commerce of the Interna-tional Chamber of Commerce.All matters pertaining to the interpretation and implementationof the protocol shall be settled with the participation of theparties to the agreement.ARTICLE 3The present agreement will enter into force on the date followi-ng its signature by the two parties.It will be applicable upon signature of the protocol by the 12 guaranteeing associations for the European Community, by the Ch-ina External Trade Development Council for China-Taiwan and by the International Bureau of Chambers of Commerce of the Interna-tional Chamber of Commerce. The International Bureau of Chambers of Commerce of the Interna-tional Chamber of Commerce will inform the parties about the da-te when all the required signatures will have been collected forthe applicability of the agreement.ARTICLE 4As of its date of applicability, in accordance with the provisi-ons of the abovementioned Article 3 § 3, this agreement will bevalid for a period of 2years. This period will be renewable bytacit agreement, except if notice of termination is given 3 mon-ths before the date of expiry by anyone party by means of a reg-istered letter with acknowledgment of receipt.Done at Brussels, on March 20 1991 R. DELOROZOY[Signed]PresidentEUROCHAMBRESDone at Taipei , on Dec. 29,1990[Signed]AGUSTIN TINGTSU LIUSecretary GeneralChina External TradeDevelopment Council