Treaty (15 July 1994)

July 15, 1994

MEMORANDUM

Republic of the Philippines EC-Philippines Business Cooperation Conference ALA/PH1/A9401 Rev. 1.1 10.06.94 The European Commission, hereinafter referred to as "THE COMMISSION", acting for and on behalf of the European Community, hereinafter referred to as "THE COMMUNITY" of the one part, and the Government of the Republic of the Philippines, hereinafter referred to as "THE GOVERNMENT" of the other part, HAVE AGREED AS FOLLOWS : The project referred to in Article 1 below shall be executed and financed out of the budget resources of THE COMMUNITY in accordance with the provisions set out in this memorandum. The technical, legal, and administrative framework within which the project referred to in Article 1 below shall be implemented is set out in the General Conditions annexed to the Framework Agreement of 8 November 1984 between THE COMMISSION and THE GOVERNMENT, as supplemented by the terms of this Memorandum and the Special Provisions annexed hereto.

ARTICLE 1 - NATURE AND SUBJECT

As part of its 1994 aid programme, THE COMMUNITY shall contribute, by way of grant, towards the financing of the following project: Project Number : ALA/PHI/A9401 Title : EC-Philippines Business Cooperation Conference Executing Agency Department of Foreign Affairs (DFA) : hereinafter referred to as "THE PROJECT".

ARTICLE 2 - COMMITMENT OF THE COMMUNITYThe commitment of THE COMMUNITY is fixed at 187,920.00 ecu (one hundred

and eighty-seven thousand nine hundred and twenty ecu), hereinafter referred to as "THE EC GRANT". This commitment is subject to an expiry date, after which any balance of funds remaining available under THE EC GRANT shall be automatically cancelled. THE COMMISSION may however, depending on the circumstances, agree to an Appropriate extension of this expiry date, should such an extension be requested and properly justified by THE RECIPIENT. For the present project, the expiry date of THE EC GRANT is hereby set at 31 December 1995 (Thirty-first December Nineteen hundred and ninety five).

ARTICLE 3 - ADDRESSES

Correspondence relating to the execution of THE PROJECT, stating THE PROJECT'S number and title, shall be addressed to the following : for THE COMMUNITY : Commission of the European Communities, Directorate-General for External Economic Relations, Ruede la Loi 200, B-1049 Brussels, Belgium. Telex : 21877 COMEU B Facsimile : (32 2) 299 0204 for THE RECIPIENT : Department of Foreign Affairs, Roxas Boulevard, Manila, Philippines Telex : Facsimile : 831.44.11 (EDU)

ARTICLE 4 - NUMBER OF COPIES

This memorandum is drawn up in the English language in two copies each being equally valid.

ARTICLE 5 - ENTRY INTO FORCE

This memorandum shall enter into force on the date that it has been signed by both parties. The Annex shall be deemed an integral part of this memorandum. Done at Pasay City, Metro Manila Done at this July 15 day of 1994 this July 15 day of 1994 THE GOVERNMENT THE COMMUNITYANNEX A TECHNICAL AND ADMINISTRATIVE PROVISIONS Recipient : The Republic of the Philippines Project Title : EC-Philippines Business Cooperation Conference Executing Agency : Department of Foreign Affairs (DFA) Project Number : ALA/PHI / A9401 PROJECT DETAILS EC-PHILIPPINES BUSINESS COOPERATION CONFERENCE 1) Background The Philippines is still hobbled by a lingering international perception as an unattractive investment destination arising from the poor economic performance of the Marcos regime and from the difficult transition back to democracy. However today, major analysts recognise that the country has turned around; that the country looks set for a period of political stability and economic growth. In an attempt to improve its perception by the European business community, the Philippine government intends to develop a communication campaign in Europe during 1994. The starting point of this campaign is the exhibition in Paris of artifacts of a Spanish galleon discovered in Manila Bay. This exhibition will be inaugurated in September 1994 in addition, around 30 cultural events will be organised in France during 1994. At the request of the Philippine government, the Commission has accepted to support the organisation of a conference to which the highest levels of the Philippines administration would participate by presenting the political and economic situation of their country to a public made up of high level representatives of European businesses.

2) General objectives To increase economic relations (trade and investment) between the European Community and the Philippines.

3) Immediate objectives - to provide a focus for an objective discussion and presentation of the Philippines and the country's economy today; - to highlight the major advantages for European companies to start or increase business with the Philippines.

4) Costs and financing The total cost of the project is estimated at 254,920 Ecu. Of this, the EEC grant will cover 187,920 Ecu, with the remaining costs being met by revenues from ticketsales.

5) Timing and location The conference will take place in Brussels, on 15 to 16 September 1994. Its title will be "Philippines Business Opportunities in the Heart of Asia".

6) Cost Estimates Technical assistance 76,200Ecu Travel 58,000 Accommodation and Catering 73,670 Marketing and Documentation 47,050 Total Cost Less : 254,920 Minimum deduction for ticket sales (67,000) Net Cost 187,920Ecu The EC grant will cover the entire net cost of the project, as shown above.

7) Implementation The project will be implemented by a European consulting company to be selected and contracted by the Commission, this company being entirely responsible for the organisation and implementation of the conference within the contractual terms of reference annexed as Attachment A.1, and updated as necessary by this present Agreement.

8) Project Details Full details of the organisation, time schedule and expected outputs of the conference are set out in Attachment A.1 annexed hereto. The substance of the programme of the Conference, and the selection of speakers, shall be established in concurrence with the relevant Philippine authorities (DFA and DTI), not later than the end of May 1994.