The Minister for Foreign Affairs of the Hellenic Republic George Papandreou and the Minister for Foreign Affairs of the Czech Republic Jan Kavan met in London on the 13th January 2000 and

- Having stated that relations between the Hellenic Republic and the Czech Republic have reached an excellent level with an upward trend;
- Wishing to promote the development of friendly ties and close cooperation between the two countries in all fields, including economic cooperation;
- Proceeding from the positive experiences gained from activities jointly developed hitherto between their respective States aimed at the achievement of peace and stability in Kosovo;
- Guided by the desire to create, in conformity with the Stability Pact for South Eastern Europe as a political project of the European Union aimed at the achievement of peace, prosperity and stability in the region, favourable conditions for economic development of the stricken areas;

Have agreed as follows:

1. The Ministers for Foreign Affairs of the two States shall work closely together with the aim to provide the most effective assistance possible to the economic entities in both States that wish to participate in the economic reconstruction and development of the conflict and war-stricken areas.

2. The Ministry of Foreign Affairs of the Hellenic Republic and the Ministry of Foreign Affairs of the Czech Republic shall consult with each other on issues related to the participation of Greek and Czech enterprises in the economic reconstruction of the region. In particular, they shall exchange information on market opportunities for such enterprises and cooperate for the promotion of the business opportunities offered by the work of Stability Pact and the European Agency for Reconstruction.

3. The Ministry of Foreign Affairs of the Hellenic Republic and the Ministry of Foreign Affairs of the Czech Republic shall promote all activities of their respective Governments aimed at working out mechanisms in support of concrete cooperation between the Hellenic Republic and the Czech Republic in the reconstruction and development of the region of South Eastern Europe.

4. Such cooperation will be promoted through a joint Greek-Czech Board (hereinafter referred as the "Board") to be based in Thessaloniki under the auspices of the respective Ministers for Foreign Affairs who will chair the common sessions. Organisationally, the Board will be supported by the Ministry of Macedonia and Thrace and its activities facilitated, from the Greek side, by the staff of the service of International Relations of the Ministry of Macedonia and Thrace and, from the Czech side, by two diplomats of the Czech Embassy in Greece.

5. In order to realise its tasks in achieving Greek-Czech cooperation in the economic reconstruction of South Eastern Europe, the Board shall establish a close working relationship with the Inter-Balkan and Black Sea Business Center (DIPEK S.A.) which was founded and supported by the Hellenic Republic and collective business organisations and has the appropriate infrastructure and expertise to provide business support services within the region of South Eastern Europe.

6. The Board shall also closely cooperate with the commercial and economic section of the respective Embassies of the Hellenic Republic in Prague and the Czech Republic in Athens, as well as with the Hellenic-Czech Chamber of Commerce.

7. The members of the Board shall be appointed by the respective Ministers for foreign Affairs.

8. The present Memorandum will enter into force upon notification from each party that their internal procedures concerning its approval have been completed.

Done in London on the 13th January 2000 in two original copies in the English language.