1. For the purposes of the effective implementation and operation of this Chapter, the Parties hereby establish a Subcommittee on Economic Cooperation ("Economic Cooperation Subcommittee").
2. The Economic Cooperation Subcommittee shall be chaired on the Serbia side by the Serbian Ministry in charge of bilateral economic cooperation and on the UAE side by the UAE Ministry of Economy.
3. The Economic Cooperation Subcommittee shall undertake the following functions:
(a) monitor and assess the implementation of this Chapter;
(b) identify new opportunities and agree on new ideas for prospective cooperation or capacity building activities;
(c) formulate and develop Annual Work Programme proposals and their implementation mechanisms;
(d) coordinate, monitor, and review progress of the Annual Work Programme to assess its overall effectiveness and contribution to the implementation and operation of this Chapter;
(e) suggest amendments to the Annual Work Programme through periodic evaluations;
(f) cooperate with other subcommittees and/or subsidiary bodies established under this Agreement to perform stocktaking, monitoring, and benchmarking on any issues related to the implementation of this Agreement, as well as to provide feedback and assistance in the implementation and operation of this Chapter; and
(h) report to and, if deemed necessary, consult with the Joint Committee in relation to the implementation and operation of this Chapter.
Article 14.4. Annual Work Program on Economic Cooperation Activities
1. The Economic Cooperation Subcommittee shall adopt the Annual Work Program based on proposals submitted by the Parties.
2. Each activity in the Annual Work Program developed under this Chapter shall:
(i) be guided by the objectives agreed in Article 14.1;
(ii) be related to trade or investment and support the implementation of this Agreement;
(iii) involve both Parties;
(iv) address the mutual priorities of the Parties; and
(v) avoid duplicating existing economic cooperation activities.
Article 14.5. Competition Policy
1. The Parties recognise the importance of general cooperation in the area of competition policy. The Parties may cooperate to exchange information relating to the development of competition policy, subject to their domestic laws and regulations and available resources. The Parties may conduct such cooperation through their competent authorities.
2. The Parties may consult on matters related to anti-competitive practices and their adverse effects on trade. The consultations shall be without prejudice to the autonomy of each Party to develop, maintain and enforce its domestic competition laws and regulations.
Article 14.6. Global Value Chains
1. The Parties acknowledge the importance of Global Value Chains ("GVCs"), as a means to modernize and widen bilateral economic relation between their traders and investors.
2. The Parties acknowledge that international trade and investment are engines of economic growth and intend to facilitate their companies' internationalization and their insertion into GVCs.
3. The Parties affirm the relevance of micro, small and medium enterprises in a country's productive structure and their impact on employment, and that their adequate insertion into GVCs will contribute to a better allocation of resources and the economic benefits derived from international trade, including the diversification and enhancing of value added in exports.
4. The Parties acknowledge the importance of the participation of the private sector as well as the entrepreneurial community as fundamental actors within GVCs, and the relevance of creating an adequate environment.
Article 14.7. Resources
1. Resources for economic cooperation under this Chapter shall be provided in a manner as agreed by the Parties and in accordance with the laws and regulations of the Parties.
2. The Parties, on the basis of mutual benefit, may consider cooperation with, and contributions from, external parties to support the implementation of the Annual Work Program.
Article 14.8. Means of Cooperation
The Parties shall endeavour to encourage technical, technological and scientific economic cooperation, through the following:
(a) joint organization of conferences, seminars, workshops, meetings, training sessions and outreach and education programs;
(b) exchange of delegations, professionals, technicians and specialists from the academic sector, institutions dedicated to research, private sector and governmental agencies, including study visits and internship programs for professional training;
(c) dialogue and exchange of experiences between the Parties' private sector and agencies involved in trade promotion;
(d) initiation of the knowledge-sharing platform aiming to transfer experience and best practices in the field of government development and modernization to other countries through UAE's Government Experience Exchange Programme;
(e) promotion of joint business initiatives between entrepreneurs of the Parties; and
(f) any other form of cooperation that may be agreed by the Parties.
Article 14.8. Dispute Settlement
Neither Party shall have recourse to Chapter 15 (Dispute Settlement) of this Agreement for any matter arising under this Chapter.
Chapter 15. DISPUTE SETTLEMENT
Article 15.1. Objective
The objective of this Chapter is to establish an effective and efficient mechanism for avoiding and settling disputes between the Parties concerning the interpretation and application of this Agreement with a view to reaching, where possible, a mutually agreed solution.
Article 15.2. Cooperation
The Parties shall endeavor to agree on the interpretation and application of this Agreement, and shall make every attempt through cooperation to arrive at a mutually satisfactory resolution of any matter that might affect its operation.
Article 15.3. Scope of Application
1. Unless otherwise provided for in this Agreement, this Chapter shall apply with respect to the settlement of any dispute between the Parties concerning the interpretation, implementation, or application of this Agreement (hereinafter referred to as "covered provisions''), wherever a Party considers that:
(a) a measure of the other Party is inconsistent with its obligations under this Agreement; or
(b) the other Party otherwise failed to carry out its obligations under this Agreement.
2. This Chapter shall not cover non-violation complaints and other situation complaints.
Article 15.4. Contact Points
Any request, notification, written submission or other document made in accordance with this Chapter shall be delivered to the other Party through its contact point referred to in Article 17.2 (Communications).
Article 15.5. Request for Information
Before a request for consultations, good offices, conciliation or mediation is made pursuant to Article 15.6 or 15.7 respectively, a Party may request in writing any relevant information with respect to a measure at issue. The Party to which that request is made shall make all efforts to provide the requested information in a written response to be submitted no later than 20 days after the date ofreceipt of the request.
Article 15.6. Consultations
1. The Parties shall endeavor to resolve any dispute referred to in Article 15.3 by entering into consultations in good faith with the aim of reaching a mutually agreed solution.
2. A Party shall seek consultations by means of a written request delivered to the other Party giving the reasons for the request, including identification of the measures at issue, a description of the factual basis, and an indication of the legal basis specifying the covered provisions that it considers applicable.
3. The Party to which the request for consultations is made shall reply to the request promptly, but no later than IO days after the date of receipt of the request. Consultations shall be held within 30 days of the date of receipt of the request. The consultations shall be deemed to be concluded within 30 days of the date ofreceipt of the request, unless the Parties agree otherwise.
4. Consultations on matters of urgency, including those which concern perishable goods, shall be held within 15 days of the date of receipt of the request. The consultations shall be deemed to be concluded within those 15 days unless the Parties agree otherwise.
5. During consultations, each Party shall provide sufficient information so as to allow a complete examination of the measure at issue including how that measure is affecting the operation and application of this Agreement.
6. Consultations, including all information disclosed and positions taken by the Parties during consultations, shall be confidential, and without prejudice to the rights of either Party in any further proceedings.
7. Consultations may be held in person or by any other means of communication agreed by the Parties. Unless the Parties agree otherwise, consultations, if held in person, shall take place in the territory of the Party to which the request is made.
8. If the Party to which the request is made does not respond to the request for consultations within 10 days of the date of its receipt, or if consultations are not held within the timeframes laid down in paragraph 3 or in paragraph 4, respectively, or if the Parties agree not to have consultations, or if consultations have been concluded and no mutually agreed solution has been reached, the Party that sought consultations may have recourse to Article 15.8.
Article 15.7. Good Offices, Conciliation or Mediation
1. The Parties may at any time agree to enter into procedures for good offices, conciliation or mediation. They may begin at any time and be terminated by either Party at any time.
2. Proceedings involving good offices, conciliation or mediation, and the particular positions taken by the Parties in these proceedings, shall be confidential and without prejudice to the rights of either Party in any further proceedings under this Chapter or any other proceedings before a forum selected by the Parties.
3. If the Parties agree, procedures for good offices, conciliation or mediation may continue while the panel procedures proceed.
Article 15.8. Establishment of a Panel
1. The complaining Party may request the establishment of a Panel if:
(a) the respondent Party does not reply to the request for consultations within the time frames in Article 15.6;
(b) the consultations referred to in Article 15.6 are not held or fail to settle a dispute within 30 days, or 15 days in relation to urgent matters including those which concern perishable goods, after the date of the receipt of the request for consultations by the respondent Party.
2. The request for the establishment of a Panel shall be made by means of a written request delivered to the other Party and shall identify the measure at issue and indicate the factual basis of the complaint and the legal basis specifying the relevant covered provisions in a manner sufficient to present how such measure is inconsistent with those provisions.
3. When a request is made by the complaining Party in accordance with paragraph 1, a Panel shall be established.
Article 15.9. Composition of a Panel
1. Unless the Parties agree otherwise, a Panel shall consist of three panelists.
2. Within 20 days after the establishment of a Panel, each Party shall appoint a panelist. The Parties shall, by common agreement, appoint the third panelist, who shall serve as the chairperson of the Panel, within 40 days after the establishment ofa Panel.
3. If either Party fails to appoint a panelist within the time period established in paragraph 2, the other Party may request that the Director-General of the WTO designate the unappointed panelist within 20 days of that request.
4. If the Parties do not agree on the chairperson of the Panel within the time period established in paragraph 2, they shall within the next 10 days, exchange their respective lists comprising three nominees each who shall not be nationals or permanent residents of either Party. The chairperson shall then be appointed by draw oflot from the lists within 10 days after the expiry of the time period during which the Parties shall exchange their respective lists ofnominees. The selection by lot of the chairperson of the Panel shall be made by the Joint Committee.
5. If a Party fails to submit its list of three nominees within the time period established in paragraph 4, the chairperson shall be appointed by draw of lot from the list submitted by the other Party.
6. The date of composition of the Panel shall be the date on which the last of the three selected panelists has notified to the Parties the acceptance of his or her appointment.
Article 15.10. Decision on Urgency
If a Party so requests, the Panel shall decide, within 15 days of its composition, whether the dispute concerns matters of urgency.
Article 15.11. Requirements for Panelists
1. Each panelist shall:
(a) have demonstrated expertise in law, international trade, and other matters covered by this Agreement;
(b) be independent of, and not be affiliated with or take instructions from, either Party;
(c) serve in their individual capacities and not take instructions from any organization or government with regard to matters related to the dispute;
(d) comply with the Code of Conduct for Panelists established in Appendix 158; and
(e) be chosen strictly on the basis of objectivity, reliability, and sound judgment.
2. The chairperson shall also have experience in dispute settlement procedures.
3. Persons who provided good offices, conciliation or mediation to the Parties pursuant to Article 15.7, in relation to the same or a substantially equivalent matter, shall not be eligible to be appointed as panelists in that matter.
Article 15.12. Replacement of Panelists
If any of the panelists of the original Panel becomes unable to act, withdraws or needs to be replaced because that panelist does not comply with the requirements of the Code of Conduct, a successor panelist shall be appointed in the same manner as prescribed for the appointment of the original panelist and the successor shall have the powers and duties of the original panelist. The work of the Panel shall be suspended during the appointment of the successor panelist.
Article 15.13. Functions of the Panel
Unless the Parties otherwise agree, the Panel:
(a) shall make an objective assessment of the matter before it, including an objective assessment of the facts of the case and the applicability of and conformity of the measure at issue with the covered provisions;
(b) shall set out, in its decisions and reports, the findings of fact and law and the rationale behind any findings and conclusions that it makes;
(c) may make recommendations on the means to resolve the dispute; and
(d) should consult regularly and simultaneously with the Parties and provide adequate opportunities for the development of a mutually agreed solution.
Article 15.14. Terms of Reference
1. Unless the Parties otherwise agree within 15 days after the date of establishment of the Panel, the terms of reference of the Panel shall be: "to examine, in the light of the relevant covered provisions of this Agreement cited by the Parties, the matter referred to in the request for the establishment of the Panel, to make findings on the conformity of the measure at issue with the relevant covered provisions of this Agreement, as well as recommendations, if any, on the means to resolve the dispute, and to deliver a report in accordance with Articles 15.18 and 15.19."
2. If the Parties agree on other terms of reference than those referred to in paragraph I, they shall notify the agreed terms of reference to the Panel no later than five days after their agreement.
Article 15.15. Rules of Interpretation
1. The Panel shall interpret the covered provisions in accordance with customary rules of interpretation of public international law.
2. When appropriate, the Panel may also take into account relevant interpretations in reports of prior panels established under this Agreement and reports of panels and the Appellate Body adopted by the Dispute Settlement Body of the WTO. Article
Article 15.16. Procedures of the Panel
1. Unless the Parties otherwise agree, the Panel shall follow the model rules of procedure set out in Appendix 15A.
2. The Panel may, after consulting with the Parties, adopt additional rules of procedure consistent with the model rules of procedure and which ensure equal treatment between the Parties.
3. There shall be no ex parte communications with the Panel.
4. The deliberations of the Panel and the documents submitted to it shall be kept confidential.
5. A Party asserting that a measure of the other Party is inconsistent with the provisions of this Agreement shall have the burden of establishing such inconsistency. A Party asserting that a measure is subject to an exception under this Agreement shall have the burden of establishing that the exception applies.
6. The Panel should consult with the Parties as appropriate and provide adequate opportunities and simultaneous participation for the development of a mutually agreed solution.
7. The Panel shall adopt its decisions, including its reports, by consensus, but if consensus is not possible then by a majority of its members. Any member of the Panel may furnish separate opinions on matters not unanimously agreed, but dissenting opinions of members shall in no case be disclosed.
Article 15.17. Receipt of Information
1. Upon the request of a Party, or on its own initiative, the Panel may seek from the Parties relevant information it considers necessary and appropriate. The Parties shall respond promptly and fully to any request by the Panel for information.
2. Upon request of a Party or on its own initiative, the Panel may seek from any source any information that it considers appropriate. The Panel also has the right to seek the opinion of experts, as it considers appropriate, and subject to any terms and conditions agreed by the Parties, where applicable.
3. Upon request of a Party, or on its own initiative, the Panel may seek information and technical advice from any individual or body that it deems appropriate, provided that the Parties agree and subject to such terms and conditions as the Parties agree.
4. Any request submitted and information obtained by the Panel under this Article shall be made simultaneously available to both the Parties and the Parties may provide comments on that information.
Article 15.18. Interim Report
1. The Panel shall deliver an interim report to the Parties within 90 days after the date of composition of the Panel. When the Panel considers that this deadline cannot be met, the chairperson of the Panel shall notify the Parties in writing, stating the reasons for the delay and the date on which the Panel plans to deliver its interim report. Under no circumstances shall the delay exceed 30 days after the deadline.
2. The interim report shall set out a descriptive part and the Panel's findings, and conclusions and may make recommendations.
3. Each Party may submit to the Panel written comments and a written request to review precise aspects of the interim report within 15 days of the date of issuance of the interim report, subject to notification to the other Party. A Party may comment on the others Party's request within six days of the delivery of the request.
4. After considering any written comments and requests by each Party on the interim report, the Panel may modify the interim repmt and make any further examination it considers appropriate.
Article 15.19. Final Report
1. The Panel shall deliver its final report to the Parties within 120 days of the date of composition of the Panel. When the Panel considers that this deadline cannot be met, the chairperson of the Panel shall notify the Parties in writing, stating the reasons for the delay and the date on which the Panel plans to deliver its final report. Under no circumstances shall the delay exceed 30 days after the deadline.
2. The final report shall include a discussion of any written comments and requests made by the Parties on the interim report. The Panel may, in its final report, suggest ways in which the final report should be implemented.
3. The final report shall be made public within 15 days of its delivery to the Parties, unless the Parties otherwise agree to publish the final report only in parts or not to publish the final report. Upon request of a Party, the published version of the final report shall not contain confidential information, in accordance with its legislation.
Article 15.20. Implementation of the Final Report
1. Where the Panel finds that the respondent Party has acted inconsistently with a covered provision, the respondent Party shail take any measure necessary to comply promptly and in good faith with the findings and conclusions in the final report.
2. The respondent Party shall promptly comply with the ruling of the Panel. If it is impracticable to comply immediately, the respondent Party shall, no later than 30 days after the delivery of the final report, notify the complaining Party of the length of the reasonable period of time necessary for compliance with the final report and the Parties shall endeavour to agree on the reasonable period of time required for compliance with the final report.
Article 15.21. Reasonable Period of Time for Compliance
1. If the Parties have not agreed on the duration of the reasonable period of time, the complaining Party may, no later than 20 days after the date of receipt of the notification made by the respondent Party in accordance with Article 15.20.2 request in writing the original Panel to determine the length of the reasonable period of time. Such request shall be notified simultaneously to the respondent Party. The 20-day period referred to in this paragraph may be extended by mutual agreement of the Parties.
2. The original Panel shall deliver its decision to the Parties within 20 days from the relevant request.
3. The duration of the reasonable period of time for compliance with the final report may be extended by mutual agreement of the Parties.
Article 15.22. Compliance Review
1. The respondent Party shall deliver a written notification of its progress in complying with the final report to the complaining Party at least one month before the expiry of the reasonable period of time for compliance with the final report unless the Parties agree otherwise.
2. The respondent Party shall, no later than at the date of expiry of the reasonable period of time, deliver a notification to the complaining Party of any measure that it has taken to comply with the final report along with a description of how the measure ensures compliance sufficient to allow the complaining Party to assess the measure before the expiry of the reasonable period of time.
3. Where the Parties disagree on the existence of measures to comply with the final report, or their consistency with the covered provisions, the complaining Party may request in writing the original panel to decide on the matter before compensation can be sought or suspension of benefits can be applied in accordance with Article 15.23.1(c). Such request shall be notified simultaneously to the respondent Party.
4. The request shall provide the factual and legal basis for the complaint, including the identification of the specific measures at issue and an indication of why any measures taken by the respondent fail to comply with the final report or are otherwise inconsistent with the covered provisions.
5. The Panel shall deliver its decision to the Parties within 60 days of the date of delivery of the request.
Article 15.23. Temporary Remedies In Case of Non-Compliance
1. If the respondent Party:
(a) fails to notify any measure taken to comply with the final report before the expiry of the reasonable period of time;
(b) notifies the complaining Party in writing that it is not possible to comply with the final report within the reasonable period of time; or
(c) the original Panel finds that no measure taken to comply exists or that the measure taken to comply with the final report as notified by the Party complained against is inconsistent with the covered provisions; the respondent Party shall, on request of the complaining Party, enter into consultations with a view to agreeing on a mutually satisfactory agreement or any necessary compensation.
2. If the Parties fail to reach a mutual satisfactory agreement or to agree on compensation within 20 days after the date ofreceipt of the request made in accordance with paragraph I, the complaining Party may deliver a written notification to the respondent Party that it intends to suspend the application to that Party of benefits or other obligations under this Agreement. The notification shall specify the level of intended suspension of benefits or other obligations.
3. The complaining Party may begin the suspension of benefits or other obligations referred to in the preceding paragraph 20 days after the date when it served notice on the Party complained against, unless the respondent Party made a request under paragraph 6.
4. The suspension of benefits or other obligations:
(a) shall be at a level equivalent to the nullification or impairment that is caused by the failure of the respondent Party to comply with the final report; and
(b) shall be restricted to benefits accruing to the respondent Party under this Agreement.
5. In considering what benefits to suspend in accordance with paragraph 2, the complaining Party shall apply the following principles: