Article 16

The Contracting Powers reserve the right of declaring at the time of the coming into force of the present Convention, that its provisions do not apply to all or any of their Dominions enjoying responsible government, of their colonies, protectorates, possessions or territories beyond the sea subject to their sovereignty or authority, and in this case Turkey will be released from her obligations under the present Convention to the said dominions, colonies, protectorates, possessions and territories.

The said Powers may, however, accede subsequently in the name of every Dominion enjoying responsible government, colony, protectorate, possession or territory for which they have, in accordance with the terms of the present Convention, made a declaration of exclusion.

Article 17

Natural and manufactured products coming from or going to Libya will receive in Turkey the same treatment as Italian natural or manufactured products. Natural and manufactured products coming from or going to Turkey will receive in Libya most-favoured-nation treatment.

Article 18

The present Convention will remain in force for a period of five years.

As regards Section I. Turkey on the one hand, and Greece, Roumania and the Serb-Croat-Slovene State on the other hand, recognising the necessity of settling a new basis for their commercial exchanges within a shorter period, agree to recognise in each other's favour the right to denounce this Convention at any time after the termination of the first period of thirty months; the Convention will cease to have effect six months after the denunciation.

Turkey on the one hand and each of the other Contracting Powers on the other hand undertake at any time during the periods herein before fixed for the duration of the Convention, on request being made, to begin negotiations for new commercial treaties, and to proceed actively with those negotiations so that they may be concluded before the expiration of the said periods.

If the said negotiations have not been concluded before the expiration of the aforesaid periods, each of the High Contracting Parties will resume its freedom of action.

Article 19

The present Convention shall be ratified.

The ratification's shall be deposited at Paris as soon as possible.

It shall enter into force in the same way as the Treaty of Peace signed this day.

In faith whereof, the above-mentioned Plenipotentiaries have signed the present Convention.

Done at Lausanne, the 24th July, 1923, in a single copy, which will be deposited in the archives of the Government of the French Republic, which will transmit a certified copy thereof to each of the Signatory Powers.