The Contracting Parties agree,
- a.to promote the development of maritime transport in a spirit of consideration of their mutual interests and to remove any difficulties in this field;
- b.to facilitate the transfer of technology and know-how as well as the establishment of joint ventures in the field of shipping;
- c.that the shipping companies of a Contracting Party have the freedom to offer an efficient total transport system (multimodal transport services) and engage in joint venture investments;
- d.in respect of activities undertaken by shipping companies for the provision of international maritime transport services, including intermodal activities involving a sea leg, each Contracting Party shall permit to the companies of the other Party their commercial presence in its territory in the form of subsidiaries or branches, under conditions of establishment and operation no less favourable than those accorded to its own companies or to subsidiaries or branches of companies of any third country, whichever are the better.