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(1) The competent authorities of the Parties to this Agreement shall make all reasonable efforts to resolve through agreement between them any dispute about its interpretation or application.
(2) If any dispute cannot be resolved as in paragraph (1) it shall be submitted, by the competent authority of any Party, to an arbitration tribunal. Each Party shall appoint an arbitrator within one month from receipt of the demand for arbitration. The three arbitrators shall appoint two more arbitrators within two months from the date on which the Party which was the last to appoint its arbitrator has notified the other Parties of the appointment.
(3) The decision of the arbitration tribunal, which shall be binding on all Parties, shall be by majority vote. The arbitration tribunal shall determine its own rules of procedure, and its costs shall be borne equally by all Parties.
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