NNA -nbsp;Onnbsp;26 July 2023, a Memorandum of Understanding wasnbsp;concludednbsp;between thenbsp;North Lebanon Merchants Associationnbsp;and the Embassy of the Republic of Indonesianbsp;in Beirutnbsp;in the field of trade.
The North Lebanon Merchants Association
was represented by the President of the Association Asaad Al Hariri, and the Embassy of the Republic of Indonesia in Beirut was represented by His Excellency Ambassadornbsp;Hajriyanto Y. Thohar.
This MoU aims to enhance cooperation and develop relations between the two parties with regard to trade and facilitation of commercial activities.
1. Objectives:
This MoU aims to strengthen and develop trade and cooperation relations between the association#39;s members and Indonesian companies interested in dealing with the North Lebanon region, by facilitating trade exchange, increasing the volume of investment, and promoting products and servicesnbsp;in a legal manner.
2.nbsp;Mutualnbsp;Commitments:
2.1 The members of the Association are committed to encourage and facilitate the visit of Indonesian trade delegations to the stores that fall under the association#39;s members registrations.
2.2 Thenbsp;Embassynbsp;facilitates the issuance of the visa throughnbsp;helping in the process of the application tonbsp;the members of the association with the sponsoring offices without guaranteeing the issuance of the visa.
2.3 Thenbsp;Embassynbsp;facilitates the requests fornbsp;permits and licenses necessary to facilitate trade proceduresnbsp;from the relevant institutionsnbsp;by connecting the members of the association with the institutions and bodies entitled to issue these licenses without guaranteeing the results.
2.4 Thenbsp;North Lebanon Merchants Associationnbsp;is committed to help the Economic Affairs Section at the Embassy to spread the information related to Trade, Tourism, andnbsp;Investment among the members. The Embassy also will inform the Association for the latest news and information that need to be spread.
3. Meetings:
3.1 Periodic meetings will benbsp;organisednbsp;between the members of the Association and Indonesian companies to discuss business opportunities and exchange information and experiences.
3.2 Joint trade fairs might benbsp;organisednbsp;by the Association and the Embassy to display products and promote bilateral trade.
4. Privacy and Confidentiality:
The parties are obligated to maintain the confidentiality of commercial information, contracts and other documents related to the agreement and not to disclose them to third parties without prior written consent.nbsp;This clausenbsp;excludesnbsp;any government entity in Indonesia and the Embassy is always able to report any documents to the Central Government of the Republic of Indonesia and its entities.
5. Duration and Cancellation:
This agreement is valid for a period of one year from the date of its signature, and it is renewable automatically, unless one of the parties wishes to cancel it by giving a written notice three months before the date of termination of the agreement.
The two parties have agreed to conform to the above terms and joint cooperation to increase trade volume and strengthen bilateral relations. Both the Association and the Embassy carry a copy of this agreementnbsp;which was signed in English.
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