Common use of Article Five Clause in Contracts

Article Five. The role of the Council shall be to consult on specific trade- and investment-related issues of special interest to the Parties. The Council shall also be responsible for identifying and working towards the removal of impediments to trade and investment, and to coordinate, as necessary, the Parties’ efforts in fora dealing with subjects of mutual interest. Each Party may raise for consultation in the Council any bilateral trade or investment matter. Requests for consultation shall be accompanied by a written explanation of the subject to be discussed. Council consultations shall be held within no more than six months of the date on which the request is submitted, unless the Parties decide otherwise. For the purposes of further developing their trade and investment, and with a view to achieving a steady increase in the pace of trade in products and services, the Parties may conclude further agreements, particularly in the areas of commerce, taxation, intellectual property, labor, and investment. This Agreement shall be without prejudice to the rights of either Party under its domestic law, its regulations, or any other international legal instrument to which either is a party.