The Party that enters into an Agreement not provided for in the Treaty of Montevideo 1980, shall:
a) Inform the other parties, within fifteen (15) days of the signed agreement, accompanying the text of the Agreement and its supplementary instruments;
b) Announce, at the same time, the provision to negotiate, within a period of ninety (90) days, equivalent to those granted concessions and received in a comprehensive manner;
c) In the event of failure to reach a mutually satisfactory solution in the negotiations provided for in subparagraph (b), the parties shall negotiate equivalent compensation within a period of ninety (90) days;
d) If no agreement is reached in the negotiations referred to in subparagraph (c), the Contracting Party concerned may resort to the procedure established in the settlement of disputes that form part of this Agreement.
Title XXII. CONVERGENCE
Article 41.
On the occasion of the Evaluation and Convergence Conference referred to in Article 33 of the Treaty of Montevideo 1980, the Signatory Parties shall examine the possibility of proceeding to the progressive convergence of the treatments provided for in this Agreement.
Title XXIII. ACCESSION
Article 42.
In compliance with the provisions of the Treaty of Montevideo 1980, this Agreement is open to the accession, through prior negotiation, of the other member countries of ALADI. The accession shall be formalized, once its terms have been negotiated between the Signatory Parties and the acceding country, through the execution of an Additional Protocol to this Agreement, which shall enter into force 30 (thirty) days after being deposited with the General Secretariat of ALADI.
Title XXIV. Entry Into Force
Article 43.
This Agreement shall enter into force as of its protocolization at the General Secretariat of ALADI and shall be of indefinite duration.
General Secretariat of ALADI and shall be of indefinite duration. This Agreement shall be incorporated by each of the Signatory Parties, in accordance with their national legislation. As from its protocolization and until the procedure mentioned in the preceding paragraph is completed, the Signatory Parties of MERCOSUR and Peru may apply the Agreement bilaterally, to the extent authorized in their respective domestic legislations.
The Signatory Parties shall communicate to the General Secretariat of LAIA, which shall notify the Signatory Parties, the date of compliance with the requirement mentioned in the second paragraph of this Article, as well as, if applicable, the decision to apply this Agreement according to the provisions of the previous paragraph.
Title XXV. DENUNCIATION
Article 44.
The Signatory Party wishing to denounce this Agreement shall communicate its decision to the Administrative Commission 60 (sixty) days prior to the deposit of the respective instrument of denunciation at the General Secretariat of ALADI. The denunciation shall take effect for the Signatory Parties, once one year has elapsed counted from the deposit of the instrument and from that moment on, the rights acquired and the obligations contracted by virtue of this Agreement shall cease for the denouncing Signatory Party. Notwithstanding the foregoing and before the expiration of 6 (six) months after the formalization of the denunciation, the Signatory Parties may agree on the rights and obligations that shall continue in force for the term to be agreed upon. in force for the term to be agreed upon.
Title XXVI. EVOLUTION
Article 45.
The Signatory Parties may agree on modifications to the Trade Liberalization Program, as well as adopt other specific rules and disciplines. Trade Release Program, as well as adopt other specific rules and disciplines.
Title XXVII. AMENDMENTS AND ADDITIONS
Article 46.
Amendments or additions to this Agreement may only be made by consensus of the Signatory Parties. They shall be submitted for approval by decision of the Administrative Commission and formalized by means of a Protocol. Other amendments or additions to the present Agreement may be adopted by consensus among the Signatory Parties involved, shall be valid exclusively among them, shall be communicated to the Administrative Commission and shall be formalized by means of a Protocol
Title XXVIII. EVALUATION CLAUSE
Article 47.
The Signatory Parties shall convene a Conference to evaluate the results and refine all mechanisms and disciplines of this Agreement in August 2018, in order to ensure the dynamic balance of the results for all Parties and the deepening of the integration process between MERCOSUR and the Republic of Peru.
Title XXIX. FREE ZONES
Article 48.
The signatory Parties agree to continue to address the issue of free trade zones and special customs areas.
Title XXX. FINAL PROVISIONS
Article 49.
The General Secretariat of ALADI shall be the depository of this Agreement, of which it shall send duly authenticated copies to the Signatory Parties.
Conclusion
In WITNESS WHEREOF the respective Plenipotentiaries have signed the present Agreement in the city of Montevideo on the 30th day of November, two thousand five in the Spanish and Portuguese languages, both texts being equally valid. FDO (.): by the Government of the Argentine Republic: Juan Carlos Olima; by the Government of the Federative Republic of Brazil: Bernardo pericás net; by the Government of the Republic of Paraguay: Juan Carlos Ramírez montalbetti; by the Government of the Eastern Republic of Uruguay: Gonzalo Rodríguez gigena; by the Government of the Republic of Peru: William BELEVAN Mc Bride.