chapter  5
9 Pages

Legal Status of the Foreign Trade Organizations of Branch-Industrial Ministries and Departments

WithM. M. Boguslavsky, P. S. Smirnov

In extending to a number of ministries and departments “access to foreign markets,” the Joint Decree No. 991 of the CPSU Central Committee and the USSR Council of Ministers, of 19 August 1986, in effect aimed at the creation of specialized foreign economic organizations to operate under the umbrellas of the relevant state administrative agencies. The foreign trade association is constituted on the basis of USSR legislation governing the conduct of export and import operations in an assigned list of goods and services. It also undertakes operations on the provision of technical assistance, on the basis of economic contracts with organizations belonging to the USSR State Committee for Foreign Economic Relations, including under contractor’s agreements. The foreign trade association’s assets consist of fixed and working capital, which make up its charter capital, and also of other types of capital and assets assigned to it.