A Commission proposal for a Council Decision on the conclusion of a Trade and Economic Cooperation Agreement between the European Economic Community and the Republic of Mongolia (COM(92) 50, submitted on 21 February 1992) sets out, inter alia, that economic cooperation shall aim to encourage the development of industry and agriculture, diversify economic links, encourage scientific and technical progress, and open new sources of supply and new markets. It shall be undertaken in particular with regard to: Mining; agriculture and forestry; science and technology; energy; telecommunications; environmental protection; tourism; intellectual and industrial property, norms and standards; statistics. Joint production and joint ventures shall be encouraged as well as the common exploitation of resources, the transfer of technology, visits and promotional activities facilitating contacts between enterprises or economic organizations, seminars and symposia, and consultancy services. In view of the difference in the levels of development of the two Contracting Parties, the Community will extend its financial and technical cooperation activities to the development of Mongolia, within the framework of its aid programmes in favour of non-associated developing countries. The Agreement is to be concluded for a period of five years, and may be amended by mutual consent in order to take account of new situations.