AGREEMENT in the form of exchanges of letters concerning the extension of the duration of the Interim Agreement on trade and trade-related measures between the European Economic Community and the European Coal and Steel Community, of the one part, and the Republic of Hungary, of the other part

A. Letter from the Community

Sir,

The Europe Agreement establishing an association between the European Communities and their Member States of the one part and the Republic of Hungary of the other part was signed in Brussels on 16 December 1991.

For the entry into force of this Europe Agreement, the approval by the Contracting Parties, in accordance with their own procedures, is required.

Pending the completion of the abovementioned formalities, the Parties signed on 16 December 1991 the Interim Agreement between the European Economic Community and the European Coal and Steel Community of the one part and the Republic of Hungary of the other part setting out the provisions of the Europe Agreement which relate to trade and trade-related measures in order to ensure swift implementation of those provisions.

The Interim Agreement entered into force on 1 March 1992. According to Article 45, the Interim Agreement is to apply until the entry into force of the Europe Agreement signed on 16 December 1991 and at the latest until 31 December 1992.

Since all ratification procedures might not be completed by 30 November 1992, the entry into force of the Europe Agreement cannot be guaranteed.

In order to avoid a disruption of the trade relations between the Parties established by the Interim Agreements, the Parties have agreed to amend Article 45 (1) of the Interim Agreement by deleting the part which reads 'and at the latest until 31 December 1992`.

It is understood that this extension of duration includes the extension of the exchanges of letters and declarations annexed to the Final Act of the Interim Agreement.

This Agreement, in the form of exchanges of letters, enters into force on the first day after receipt of your answer.

I would be grateful if you would confirm your Government's agreement to the contents of this letter.

Please accept, Sir, the assurance of our highest consideration.

For the Council and the Commission of the European Communities >REFERENCE TO A FILM>

B. Letter from the Republic of Hungary

Sirs,

I have the honour to acknowledge receipt of your letter bearing today's date, the contents of which are as follows:

'The Europe Agreement establishing an association between the European Communities and their Member States of the one part and the Republic of Hungary of the other part was signed in Brussels on 16 December 1991.

For the entry into force of this Europe Agreement, the approval by the Contracting Parties, in accordance with their own procedures, is required.

Pending the completion of the abovementioned formalities, the Parties signed on 16 December 1991 the Interim Agreement between the European Economic Community and the European Coal and Steel Community of the one part and the Republic of Hungary of the other part setting out the provisions of the Europe Agreement which relate to trade and trade-related measures in order to ensure swift implementation of those provisions.

The Interim Agreement entered into force on 1 March 1992. According to Article 45, the Interim Agreement is to apply until the entry into force of the Europe Agreement signed on 16 December 1991 and at the latest until 31 December 1992.

Since all ratification procedures might not be completed by 30 November 1992, the entry into force of the Europe Agreement cannot be guaranteed.

In order to avoid a disruption of the trade relations between the Parties established by the Interim Agreements, the Parties have agreed to amend Article 45 (1) of the Interim Agreement by deleting the part which reads "and at the latest until 31 December 1992".

It is understood that this extension of duration includes the extension of the exchanges of letters and declarations annexed to the Final Act of the Interim Agreement.

This Agreement, in the form of exchanges of letters, enters into force on the first day after receipt of your answer.

I would be grateful if you would confirm your Governments's agreement to the contents of this letter.` I have the honour to confirm my Government's agreement to the contents of your letter.

Please accept, Sirs, the assurance of my highest consideration.

For the Government of the Republic of Hungary >REFERENCE TO A FILM>