The Gazette of India
EXTRAORDINARY
PART I—Section 1
PUBLISHED BY AUTHORITY
No. 52] NEW DELHI, WEDNESDAY, FEB. 21, 1979/PHALGUNA 2, 1900
Separate paging is given to this Part in order that it may be filed
as a separate compilation.
322 THF GAZhTTi: OF INDIA : EXTRAORDINARY [PART I—SIX. J|MINISTRY OF COMMERCE. CIVIL SUPPLIES AND CO OPERATION
(Department of Commerce)
IMPORT TRADE CONTROL
PUBLIC NOTICE NO. 12-ITC(PN)/79
New Delhi, the 21st Febmar>. 1979
Subject : Trade and Payments' Agreement with People's Republic of Bulgaria envisaging trade and payment transactions between India and Bulgaria in any freely convertible currency from 1st January, 1979.
[F. No. IPC/5I(2)/Rupee/79-80|.—Anew Trade Agreement with People's Re- public of Bulgaria has come into force on January 1. 1979 and will remain valid initially for a period of three years upto December 31, 1981.
2. The Trade Agreement envisages thai all trade and payments transactions- between India and Bulgaria from January 1. 1979 shall be concluded and settled in any freely convertible currency mutually agreed upon between the individual contracting parties in accordance with the foreign exchange laws, rules and regulations of the two countries. However, .payments falling due after Decem- ber 31, 1978 in respect of all export/import con'racts/agreementy and all other contracts/agreements concluded between India and Bulgaria before January 1. 1979 will continue to be implemented in non-convertible Indian rupees in accordance with the terms of the relevant contracts/agreements; provided that payments in respect of contracts othci than tho'
K. V. SESHADRI,
Chief Contioiler of Imports and Exports