1. This Agreement shall be valid for an indefinite period.
2. Any Party may withdraw from this Agreement by means of a written Diplomatic Note to the other Party. Such withdrawal shall become effective six months after the date of receipt of such notification by the other Party.
Article 15.5. MODIFICATIONS TO THE WTO AGREEMENT
The Parties understand that any provision of the WTO Agreement incorporated into this Agreement, is incorporated with any amendments which have entered into force at the time such provision is applied.
Conclusion
IN WITNESS WHEREOF, the undersigned, being duly authorized by their respective Governments, have signed this Agreement.
Done in Jerusalem, Israel, on ,____________ which corresponds to the _____ day of ______in the year _________ in the Hebrew calendar, in two original copies, each in the Hebrew, Spanish and English languages, all texts being equally authentic. In case of divergence of interpretation or any discrepancies, the English text shall prevail.
For the Government of the Republic of Colombia
For the Government of the State of Israel
Attachments
Exchange of Letters
S-DM-20-012096
REPUBLIC OF COLOMBIA
MINISTRY OF FOREIGN AFFAIRS
Bogotá, April 27, 2020
Your Excellency:
I have the honor to address Your Excellency with the purpose of referring to the "Free Trade Agreement between the Republic of Colombia and the State of Israel', made in Jerusalem on September 30, 2013 (hereinafter, the "Free Trade Agreement").
In this regard, as the Israeli authorities are aware, the Colombian Constitutional Court in its Decision C-254/19 dated June 6, 2019, by which it declared the Free Trade Agreement constitutional, ordered the President of the Republic that, if in exercise of his constitutional competence to direct international relations he decided to ratify this treaty, he should take the necessary steps to promote the adoption of a joint interpretative declaration with the representative of the State of Israel regarding the conditions indicated in the second to fourth resolutions of the aforementioned decision.
In accordance with the foregoing, the Government of the Republic of Colombia submits for consideration and approval of your Government the following interpretative declaration to the Free Trade Agreement:
"Taking into account Article 31 of the Vienna Convention on the Law of Treaties, done at Vienna on May 23, 1969, and in connection with the conclusion of the Free Trade Agreement between the Republic of Colombia and the State of Israel, done at Jerusalem on September 30, 2013, /the Parties have reached the following joint understanding vis-à-vis Chapter 10 of the Agreement:
1. Protection of Investments
The Republic of Colombia reserves the right not to deny its own investors treatment no less favorable than that provided to investors and covered investments of other nationalities.
2. Most-Favored-Nation Treatment
In connection with Article 10.5 and without prejudice to Article 10.5.3:
Substantive provisions contained in other international investment treaties and other trade agreements that are not accompanied by measures that are adopted or maintained by a Party pursuant to those provisions shall not in themselves constitute "treatment" and thus shall not give rise to a breach of this Article.
3. Reasonable Expectations
In relation to Article 10. 7.3(b):
For greater certainty, determining whether an investor's investment-based expectation is reasonable will depend, to the extent relevant, on factors such as whether the Government provided the investor with binding, written assurances and the nature and extent of government regulation or potential government regulation in the respective sector."
In this regard, I would be grateful to Your Excellency to confirm whether the terms of the above proposed interpretative statement are acceptable to your Government.
I take this opportunity to renew to Your Excellency the assurances of my highest and distinguished consideration.
His Excellency Mr. ISRAEL KATZ
Minister of Foreign Affairs of the State of Israel
Jerusalem
MINISTER OF FOREIGN AFFAIRS
Jerusalem, May 25, 2020
Your Excellency,
I have the honor to address your Excellency, in order to refer to your note no. S-DM-20-012096, dated to April 27, 2020, regarding the Interpretative Declaration to the Free Trade Agreement between the State of Israel, and the Republic of Colombia, done in Jerusalem, on September 30th, 2013.
In this regard, I confirm that the terms of the Declaration are acceptable to the Govemment of the State of Israel.
I avail myself of this opportunity to renew to your Excellency the assurances of my highest consideration.
Gabi Ashkenazi
Minister of Foreign Affairs