121.4. The Community may establish and maintain, in its territory, non-profit organizations whose objects are economic promotion and development, assist or participate in the creation and maintenance of such organizations, entrust them with the organization and management, on its behalf, of activities relating to economic promotion and development and, for such purposes, make contracts with them and grant them the necessary material resources and funds.
The non-profit organizations established by the Community may carry out the contracts made with any person and exercise the rights and privileges and fulfil the obligations arising therefrom, even outside the territory of the Community.