Pursuant to Item 2 of Clause 21 of the Agreement, it can be denounced at any moment by any of the Contractual Parties. The Agreement is terminated in six months after the receipt of a written notification by one Contractual Party forwarded to other Contractual Parties by diplomatic means.
According to the Committee members, denouncement of the trilateral agreement will prevent demands of the Bulgarian Party to refer to the trilateral agreement and assign a part of the Ukrainian export freight traffic to the Bulgarian ferry service representative. The Ukrainian Party will also prevent possible impediment of the development of ferry crossing lines between Ukraine and the third countries by the Bulgarian Party.
The Agreement being denounced, Ukrainian carriers will be able to increase the number of ferries at the ferry crossing lines between Ukraine and Georgia. They will also be authorized to regulate tariff issues without obligatory consent of the Bulgarian Party, which enables further development of ferry transportation with account for national interests.
A relevant Bill was registered under Reg. No. 0160.