Considering that the prompt and
equitable settlement of
disputes which may arise from
commercial transactions relating to
goods and
services and
contracts for
industrial co-operation
would
contribute to expanding and facilitating
trade and co-
operation,
Considering that
arbitration is an appropriate means of
settling such
disputes,
recommend that the
provisions on
arbitration should provide
for
arbitration under a mutually acceptable set of
arbitration
rules, and
permit arbitration in a
third country, taking into
account existing intergovernmental and other
agreements in this
field.