Inexequible - Through Which The Agreement On The Global System Of Trade Preferences Among Developing Countries, Signed In Belgrade On 13 April 1988 Approved

Original Language Title: INEXEQUIBLE - Por medio de la cual se aprueba el Acuerdo sobre el sistema global de preferencias comerciales entre países en desarrollo, suscrito en Belgrado el 13 de abril de 1988

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ACT 8 OF 1992

(July 15)

Official Journal No. 40,506 of 17 July 1992

By means of which the Agreement on the global system of trade preferences between developing countries, signed in Belgrade on April 13, 1988, is approved

COLOMBIA CONGRESS

Viewed the text of the Agreement on the Global System

Trade Preferences between Developing Countries,

subscribed in Belgrade on April 13, 1988, which to the letter reads:

AGREEMENT ON THE GLOBAL SYSTEM OF PREFERENCES

COMMERCIAL BETWEEN DEVELOPING COUNTRIES

PREAMBLE:

States Parties to the Present Agreement,

Recognizing that economic cooperation among developing countries is a decisive element in the strategy of collective self-confidence and an indispensable instrument for promoting structural changes that contribute to a balanced process and equitable world economic development and the establishment of the New International Economic Order.

Recognizing also that a Global System of Trade Preferences (hereinafter referred to as the SGPC) would be one of the main instruments for promoting trade among developing countries in the group of 77, and for the increase in production and employment in these countries,

Having presented the Arusha Program for Collective Self-Confidence, the Caracas Program of Action, and the SGPC declarations approved by the Group of 77 Foreign Ministers in New York in 1982 and in the Ministerial meetings on the SGPC held in New Delhi, in Brasilia in 1986 and in Belgrade in 1988,

Believing that high priority should be assigned to the establishment of the SGPC as it constitutes one of the main instruments of South-South cooperation, for the promotion of collective self-confidence as well as for the strengthening of trade as a whole,

Have agreed to the following:

CHAPTER I.

INTRODUCTION

ARTICLE 1o. DEFINITIONS.

For the purposes of this Agreement:

a) By "participant" is understood:

i) Any member of the Group of 77 listed in Annex I that has exchanged concessions and has become a party to this Agreement in accordance with its Articles 25, 27 or 28.

(ii) Any sub-regional-regional-interregional grouping of developing countries members of the Group of 77 listed in Annex I which has exchanged concessions and which has become a party to this Agreement in accordance with its items 25, 27 , or 28.

(b) 'Less advanced country' means a country designated as such by the United Nations.

c) By "State" or "country" means any State or member country of the Group of 77.

(d) "domestic producers" means natural or legal persons who are established in the territory of a participant and who are engaged in the production of basic products and articles, including products industrial, agricultural, mining or mining, whether raw or semi-finished or processed. In addition, in order to determine the existence of 'serious injury', the expression 'domestic producers' or 'a threat of serious injury', the expression 'national producers' used in this Agreement shall be understood as meaning that it covers the (a) all the national producers of the same or similar products, or those of them whose joint production constitutes a major part of the total national production of such products.

e) 'serious injury' means significant damage to domestic producers of equal or similar products resulting from a substantial increase in preferential imports under conditions causing substantial losses, in terms of of production or employment, which are unsustainable in the short term. The examination of the effects on national production in question shall also include an assessment of other relevant economic factors and indices having a bearing on the state of the national production of those products.

(f) 'threat of serious injury' means a situation where a substantial increase in preferential imports is of such a nature that it can cause 'serious injury' to domestic producers and that such injury, although still does not exist, be clearly imminent. The determination of the threat of serious injury shall be based in fact and not on mere claims, conjectures or remote or hypothetical possibilities.

g) "Critical circumstances" means the emergence of an exceptional situation in which massive preferential imports cause or threaten to cause "serious injury", which is difficult to repair and which requires immediate action.

(h) "Sectoral agreements" means agreements between participants regarding the elimination or reduction of tariff barriers, non-tariff and non-tariff barriers, as well as other measures to promote trade and cooperation for certain products or groups of products which are closely linked to each other in terms of their final use or production.

(i) "Direct trade measures" means measures likely to promote trade between participants, such as long-and medium-term contracts including import and supply commitments in relation to products specific agreements, commercial agreements with payment on goods produced, state trade and purchases of the State or public sector.

(j) "Tariff duties" means the customs duties set out in the national tariffs of the participants.

k) By "non-tariff measures" means any measure, regulation or practice, with the exception of "tariff duties" or "tariff measures", the effect of which is to restrict imports or to introduce a significant distortion in the trade.

(l) For "tariff measures" means rights and charges. With the exception of 'tariff duties', levied at the border on foreign trade transactions which have effects similar to customs duties and which only tax imports, but not the other taxes and charges Indirect taxes levied in the same way on equal national products. The import duties for certain services provided are not considered to be tariff measures.

CHAPTER II.

GLOBAL TRADE PREFERENCE SYSTEM

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ARTICLE 2o. ESTABLISHMENT AND PURPOSES OF THE SGPC.

By this Agreement, the participants establish the SGPC in order to promote and sustain the mutual trade and development of economic cooperation among developing countries, through the exchange of concessions in accordance with this Agreement. Agreement.

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ARTICLE 3o. PRINCIPLES.

The SGPC will be established in accordance with the following principles:

a) The SGPC will be reserved for the exclusive participation of the developing countries members of the Group of 77;

(b) The benefits of the SGPC shall correspond to the developing countries members of the Group of 77 who are participants in accordance with Article 1a);

(c) The SGPC shall be based and implemented in accordance with the principle of mutual advantage in such a way as to benefit equally all participants, taking into account their respective levels of economic and industrial development, the structure of the of its external trade and its commercial systems and policies;

d) The SGPC will be negotiated step by step, improved and extended in successive stages and will be subject to periodic reviews;

(e) The SGPC should not replace the present and future sub-regional, regional and inter-regional economic groupings of the developing countries of the Group of 77, but complement and strengthen them, and take into account the interests and commitments of such economic groupings;

(f) The special needs of the least developed countries should be clearly recognised and specific preferential measures agreed in favour of those countries, the least developed countries will not be required to make concessions on a basis of reciprocity;

g) All products, articles and basic products, both raw and semi-finished or processed, must be included in the SGPC;

(h) Sub-regional, regional and inter-regional inter-regional economic cooperation groupings between developing countries in the Group of 77 will be able to participate fully as such, provided they deem it appropriate, in all the phases of the jobs on the SGPC or any of them.

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ARTICLE 4. SGPC ELITEMS.

The SGPC may include, inter alia, the following items:

a) Agreements on tariff duties;

(b) Agreements on tariff for tariff preferences;

c) Agreements on non-tariff measures;

(d) Agreements on direct trade measures, including medium and long-term contracts;

e) Sectoral agreements.

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ARTICLE 5o. CONCESSIONS LISTS

The tariff, non-tariff and non-tariff concessions negotiated and exchanged between the participants shall be entered in lists of concessions which shall be reproduced in the Annex to this Agreement and shall form an integral part thereof.

CHAPTER III.

NEGOTIATIONS

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ARTICLE 6o. NEGOTIATIONS.

1. Participants will be able to hold time-to-time rounds of bilateral-plurilateral-multilateral negotiations with a view to further expansion of the SGPC and to the fullest achievement of its purposes.

2. Participants may enter into negotiations in accordance with the following approaches and procedures or any combination thereof:

a) Product by product negotiations;

b) General tariff reductions;

c) Sectoral negotiations;

d) Direct trade measures, including medium and long-term contracts.

CHAPTER IV.

PARTICIPANTS ' COMMITTEE

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ARTICLE 7o. ESTABLISHMENT AND FUNCTIONS.

1. Upon entry into force of this Agreement, a committee of participants (hereinafter referred to as the "Committee") shall be established by the representatives of the governments of the participants. The Committee shall carry out the tasks necessary to facilitate the functioning of this Agreement and contribute to the achievement of its objectives. It shall be for the Committee to examine the implementation of this Agreement and the instruments to be adopted in the framework of its provisions, to monitor the implementation of the results of the negotiations, to hold consultations, to make recommendations and to take the necessary decisions and, in general, to take the necessary measures to ensure that the objectives and the proper implementation of the provisions of this Agreement are met.

(a) The Committee will examine on a permanent basis the possibility of promoting the conclusion of new negotiations to extend the lists of concessions and to increase trade between the participants by adopting other measures and may at any time sponsor such negotiations. The Committee shall ensure the rapid and complete dissemination of commercial information in order to promote trade between the participants;

b) The Committee shall examine disputes and make recommendations in accordance with Article 21 of this Agreement;

(c) The Committee may establish the subsidiary bodies that are necessary for the effective performance of its functions;

(d) The Committee may adopt the regulations and rules necessary for the implementation of this Agreement.

2. (a) The Committee shall endeavour to ensure that all its decisions are taken by consensus.

(b) Notwithstanding any measures that may be taken pursuant to paragraph 2 (a) of this Article, any proposal or motion submitted to the Committee shall be put to the vote if requested by a representative;

c) Decisions shall be taken by a two-thirds majority on substantive matters and by a simple majority on procedural matters.

3. The Committee shall adopt its rules of procedure.

4. The Committee shall adopt a financial regulation.

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ARTICLE 8o. COOPERATION WITH INTERNATIONAL ORGANISATIONS.

The Committee shall take the appropriate steps to hold consultations or to cooperate with the United Nations and its organs, in particular the United Nations Conference on Trade and Development (UNCTAD) and the United Nations The European Commission has also called on the Member States to take the necessary measures to ensure that they are not in the process of being taken into account.

CHAPTER V.

BASIC RULES

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ARTICLE 9o. EXTENSION OF NEGOTIATED CONCESSIONS.

1. Without prejudice to paragraphs 2 and 3 of this Article, all tariff, non-tariff and non-tariff concessions negotiated and exchanged between the participants in bilateral-plurilateral negotiations, when In practice, they will be extended to all participants in the negotiations on the SGPC on the basis of the most favoured nation (IMF) clause.

2. Subject to the rules and guidelines set out in this respect, participants parties to direct trade measures, sectoral agreements or agreements on non-tariff concessions may decide not to extend to others. the concessions provided for in such agreements. The non-extension shall not have adverse effects on the commercial interests of other participants and, in the event of such effects, the question shall be submitted to the Committee for examination and decision. Such agreements shall be open to all participants in the SGPC through direct negotiations. The Committee shall be informed of the initiation of the negotiations on the said agreements and of the provisions of these agreements once they have been concluded.

3. By way of derogation from paragraphs 1 and 2 of this Article, participants may grant tariff, non-tariff and non-tariff concessions exclusively applicable to exports from the least developed countries. participants. Such concessions, when put into practice, will apply in equal measure to all the least developed countries participating. If, after granting any exclusive right, it is detrimental to the legitimate commercial interests of other participants, the matter may be submitted to the Committee to examine such concessions.

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ARTICLE 10. MAINTAINING THE VALUE OF THE CONCESSIONS.

Subject to the terms, conditions or requirements that may be established in the grant lists granted, none of the participants shall prejudice or cancel these concessions, after the entry into force of this Agreement, by the application of any restrictive measure or burden on trade which did not already exist before, except where that burden consists of a domestic tax which is a serious domestic product, an anti-dumping duty or a countervailing duty or a duty proportionate to the cost of the services provided, and with the exception of the measures authorised fixed to items 13 and 14.

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ARTICLE 11. MODIFICATION AND WITHDRAWAL OF CONCESSIONS.

1. Any participant may, after a period of three (3) years after the date on which the concession was granted, notify the Committee of its intention to amend or withdraw any concession included in the relevant list of that participant.

2. A participant intending to withdraw or modify a concession shall enter into consultations and/or negotiations, with a view to reaching an agreement on any compensation that is necessary and appropriate, with the participants with whom the originally negotiated that concession and with any other participants having an interest as major or substantial suppliers as determined by the Committee.

3. If no agreement is reached between the participants involved within six months of receipt of the notification, and if the participant who made the notification thereafter with the modification or withdrawal of such a concession, the participants concerned, as determined by the Committee, may withdraw or amend equivalent concessions in their lists. All such modifications or withdrawals must be notified to the Committee.

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ARTICLE 12. SUSPENSION OR WITHDRAWAL OF CONCESSIONS.

Any participant may at any time freely suspend or withdraw all or part of any of the concessions included in its list if it concludes that such concession was initially negotiated with a State that has not the past to be, or has ceased to be, a participant in this Agreement. The participant who takes such a measure shall notify the Committee and, when required to do so, hold consultations with participants who have a substantial interest in the product concerned.

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ARTICLE 13. SAFEGUARD MEASURES.

A participant should be able to take safeguard measures to avoid serious injury or the threat of serious injury to domestic producers of equal or similar products that may be a direct consequence of a substantial increase (a) the provision of imports which enjoy preferences under the SGPC.

1. The safeguard measures shall be in accordance with the following

:

(a) The safeguard measures should be compatible with the purposes and objectives of the SGPC. Those measures should be applied in a non-discriminatory manner between the participants in the SGPC.

(b) The safeguard measures should be in force only to the extent and for the time necessary to prevent or remedy such injury.

c) As a general rule and except in critical circumstances, any safeguard measure shall be adopted after consultation between the parties concerned. Participants who intend to take safeguard measures shall be obliged to prove, to the satisfaction of the parties involved within the Committee, the serious injury or threat of serious injury which justify the adoption of such measures. measures.

2. The adoption of safeguard measures to avoid serious injury or a threat of serious injury should comply with the following procedures:

(a) Notification: Any participant intending to take a safeguard measure should notify the Committee of its intention, which shall transfer this notification to all participants. Once the notification has been received, the interested participants who wish to consult with the initiating participants of the measure shall notify the Committee within 30 days. Where, in critical circumstances, a delay may cause damage which is difficult to repair, the safeguard measure may be provisionally adopted without prior consultation, provided that such consultations are held immediately after consultation. to be taken.

b) Consultations: Interested participants should hold consultations with the purpose of reaching an agreement with regard to the nature and duration of the safeguard measure to be adopted, or which has already been adopted, and to the granting of the of compensation or the renegotiation of the concessions. These consultations should be concluded within three months of the receipt of the initial notification. If these consultations do not lead to a satisfactory agreement for all parties within the time limit specified, the matter should be submitted to the Committee for a resolution. If the Committee does not resolve the matter within four weeks of the date on which it has been referred to it, the parties concerned by the safeguard measure shall be entitled to withdraw equivalent concessions or other obligations arising from the SGPC not disapproved by the Committee.

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ARTICLE 14. MEASURES RELATING TO THE BALANCE OF PAYMENTS.

If a participant stumbles with serious economic problems during the implementation of the SGPC, that participant should be able to take measures to deal with serious balance of payments difficulties.

1. Any participant who considers it necessary to impose or intensify a quantitative restriction or other measure in order to limit imports in respect of products or areas covered by concessions with a view to avoiding the threat of a (a) a reduction in the value of its currency reserves or a reduction in the value of the negotiated concessions will be made in such a way as to ensure that the value of the negotiated concessions is preserved as much as possible.

2. Those measures shall be notified immediately to the Committee, which shall forward such notification to all participants.

3. Any participant taking one of the measures referred to in paragraph 1 of this Article shall, at the request of any other participant, provide appropriate opportunities for consultations with a view to maintaining the stability of the negotiated concessions. under the SGPC. If a satisfactory agreement is not reached between the participants concerned within three months of the date of notification, the matter may be referred to the Committee for examination.

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ARTICLE 15. SOURCE RULES.

Products contained in the concessions lists set out in the Annex to this Agreement shall enjoy preferential treatment if they comply with the rules of origin, which shall be reproduced in the Annex to this Agreement and shall form an integral part thereof.

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ARTICLE 16. Procedures for the negotiation of medium and long-term contracts between participants in the SGPC concerned.

1. In the framework of this Agreement, medium-and long-term contracts may be concluded between the participants, with commitments for the import and export of certain basic products or other products.

2. In order to facilitate the negotiation and consultation of such contracts:

(a) The exporting participants should indicate the commodities or other products in relation to which they are prepared to undertake supply commitments, with a specification of the corresponding quantities.

(b) The importing participants should indicate the commodities or other products in relation to which they could undertake import commitments, with specification, where possible, of the corresponding quantities, and

(c) The Committee shall provide assistance for the multilateral exchange of information provided for in paragraphs (a) and (b), as well as for the conclusion of bilateral and/or multilateral negotiations between the exporting and importing participants. interested in order to conclude contracts in the medium and long term.

3. Involved participants should notify the Committee of long-and medium-term contract concertation as soon as possible.

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ARTICLE 17. SPECIAL TREATMENT FOR THE LEAST DEVELOPED COUNTRIES.

1. In line with the Ministerial Declaration on the SGPC, the special needs of the least developed countries will be fully recognized and an agreement will be reached on specific preferential measures in favour of these countries.

2. In order to acquire the status of participants, no less advanced country will be required to make concessions on a reciprocal basis, and the least developed countries participating will benefit from all tariff concessions. non-tariff and non-tariff tariffs exchanged in bilateral multilateral negotiations which are multilateralized.

3. The least developed countries involved should identify the export products in relation to which they wish to obtain concessions in the markets of other participants. To assist them in this task, the United Nations and other participants who are in a position to do so should provide such countries, as a matter of priority, with technical assistance which will include relevant information on trade in the products in question and the main import markets of the developing countries, as well as market trends and prospects and the trade regimes of the participants.

4. The least developed countries participating may, in relation to export products and markets determined in accordance with paragraph 3 of this Article, make specific requests to other participants on tariff concessions, non-tariff and non-tariff and/or direct trade measures, including long-term contracts.

5. Particular account shall be taken of exports from the least developed countries participating in the application of safeguard measures.

6. The concessions requested in respect of those export products may include the following:

(a) Free access of rights, in particular for processed and semi-finished products;

b) The removal of non-tariff barriers;

c) The deletion, where appropriate, of tariff barriers;

d) The negotiation of long-term contracts with a view to helping the least developed countries to reach reasonable and sustainable levels in the export of their products.

7. Participants will examine with understanding the requests made by the least developed countries participating to obtain concessions under paragraph 6 of this article and, whenever possible, they will try to access such requests, in all or, in part, as a manifestation of the concrete preferential measures to be agreed in favour of the least developed countries participating.

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ARTICLE 18. SUB-REGIONAL, REGIONAL AND INTER-REGIONAL GROUPINGS.

Tariff, non-tariff and non-tariff preferences applicable within existing sub-regional, regional and inter-regional groupings of developing countries notified as such and recorded in this Agreement retain their essential character, and members of such groupings shall have no obligation to extend the benefits of such concessions, nor shall the other participants, be entitled to enjoy the benefits of such preferences. The provisions of this paragraph shall also apply to preferential agreements with a view to establishing sub-regional, regional and interregional groupings of developing countries and to future subregional, regional and interregional groupings. of developing countries which are notified as such and duly registered in this Agreement. In addition, these provisions will apply in equal measure to all tariff, non-tariff and non-tariff preferences which in the future will be applied within such sub-regional, regional or inter-regional groupings.

CHAPTER VI.

QUERIES AND DISPUTE RESOLUTION

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ARTICLE 19. QUERIES.

1. Each participant shall consider with understanding the possibility of holding consultations on representations that may be made by another participant in respect of any issue affecting the functioning of this Agreement and shall give opportunities appropriate to hold such consultations.

2. The Committee may, at the request of a participant, consult with any participant on any matter to which a satisfactory solution could not be found by means of the consultations referred to in paragraph 1 of this Article. item.

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ARTICLE 20. NULLIFICATION OR IMPAIRMENT.

1. If any participant considers that another participant has altered the value of a concession listed in its list or that any benefit that it directly or indirectly enjoys under this Agreement is being disallowed or impaired as the result of the non-compliance by another participant of any of the obligations incumbent upon it under the same, or as a result of any other circumstance related to the functioning of this Agreement, may, with a view to satisfactorily resolve the issue, make written representations or proposals to the other or the other participants it considers involved, which, in such a case, will consider as understanding the representations or proposals that will be made to them in this way.

2. If, within 90 days of the date on which the observations have been made or the request for consultation has been made, no satisfactory solution has been reached between the participants, the matter may be submitted for consideration by the Committee, which consult with the participants concerned and make appropriate recommendations within 75 days of the date on which the matter was referred to the Committee's consideration. If within 90 days of the date on which the recommendations were made, the question has not yet been resolved satisfactorily, the participant concerned may suspend the application of a substantially equivalent grant, or other obligations under the SGPG that the Committee does not approve.

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ARTICLE 21. DISPUTE RESOLUTION.

Any dispute which may arise between the participants in the interpretation and application of the provisions of this Agreement or of any instrument adopted within the framework of its provisions shall be resolved amicably by means of agreement between the parties involved in accordance with Article 19 of this Agreement. Where a dispute cannot be resolved by that procedure, it may be submitted to the Committee for consideration by either party. The Committee shall examine the matter and make a recommendation on the matter within 120 days of the date on which the dispute has been submitted to it. The Committee shall adopt the appropriate rules.

CHAPTER VII.

FINAL PROVISIONS

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ARTICLE 22. APPLICATION.

Each participant shall take the legislative or other measures necessary to implement this Agreement and the instruments to be adopted within the framework of its provisions.

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ARTICLE 23. DEPOSITARY.

The Government of the Socialist Federal Republic of Yugoslavia is hereby designated as depositary of this Agreement.

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ARTICLE 24. FIRST.

This Agreement shall be open for signature in Belgrade, Yugoslavia, from 13 April 1988 to the date of its entry into force in accordance with Article 26.

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ARTICLE 25. DEFINITIVE SIGNATURE, RATIFICATION, ACCEPTANCE OR APPROVAL.

Any of the participants referred to in paragraph (a) of Article 1and in Annex I to this Agreement that have exchanged concessions may:

(a) At the time of signature of this Agreement, declare that by that signature it expresses its consent to be bound by this Agreement (definitive signature), or

(b) After the signature of this Agreement, ratify, accept or approve it by depositing an instrument to the effect held by the depositary.

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ARTICLE 26. ENTRY INTO FORCE.

1. This Agreement shall enter into force 30 days after 15 of the States referred to in Article 1 a) and Annex I to the Agreement, of the three regions of the Group of 77, which have exchanged concessions have deposited their instruments of definitive signature, ratification, acceptance or approval in accordance with paragraphs (a) and (b) of Article 25.

2. For any State which deposits an instrument of ratification, acceptance, approval or accession or a notification of provisional application after the entry into force of this Agreement, it shall enter into force for that State 30 days after the entry into force of this Agreement. made such a deposit or notification.

3. Upon entry into force of this Agreement, the Committee shall set a deadline for the deposit of the instruments of ratification, acceptance or approval by the States referred to in Article 25. That date may not be later more than three years after the date of entry into force of this Agreement.

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ARTICLE 27. PROVISIONAL APPLICATION NOTIFICATION.

Any signatory State intending to ratify, accept or approve this Agreement, but which has not yet deposited its instrument, may, within 60 days of the entry into force of the Agreement, notify the depositary that apply this Agreement provisionally. The provisional application will not exceed a two-year period.

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ARTICLE 28. ADHESION.

Six months after the entry into force of this Agreement in accordance with its provisions, it shall be open to the accession of other members of the Group of 77 who fulfil the conditions laid down in this Agreement. For this purpose, the following procedures shall apply:

(a) The applicant shall notify its intention of accession to the Committee;

b) The Committee shall distribute the notification among the participants;

(c) The applicant shall submit a list of tenders to the participants and any participant may submit a list of requests to the applicant;

(d) Once the procedures provided for in paragraphs (a), (b) and (c) have been completed, the applicant shall enter into negotiations with the participants concerned with a view to reaching an agreement on their list of concessions;

e) The applications for accession of the least developed countries will be examined taking into account the provision on special treatment to the least developed countries.

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ARTICLE 29. AMENDMENTS.

1. Participants may propose amendments to this Agreement. The Committee shall examine the amendments and recommend them for adoption by the participants. The amendments shall take effect 30 days after the date on which the two-thirds of the participants referred to in paragraph (a) of Article 1 have notified the depositary that they accept them.

2. By way of derogation from paragraph 1 of this Article.

a) Any amendment relating to:

i) the definition of members listed in paragraph (a) of article 1;

(ii) The procedure for amending this Agreement shall enter into force once it has been accepted by all participants in accordance with the provisions of paragraph (a) of Article 1of this Agreement. Agreement.

b) Any amendment relating to:

i) the principles stipulated in article 3;

(ii) the basis of consensus and any other voting bases mentioned in this Agreement shall enter into force after acceptance by consensus.

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ARTICLE 30. RETIREMENT.

1. Any participant may withdraw from this Agreement at any time after its entry into force. Such withdrawal shall be effective six months after the date on which the depositary has received the relevant written notification. Such participant shall inform the Committee at the same time of the action taken.

2. The rights and obligations of the participant which has been withdrawn from this Agreement shall cease to apply from that date. After this date, participants and the participant who has withdrawn from the Agreement will jointly decide whether to withdraw, in whole or in part, the concessions received or granted by those and by this.

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ARTICLE 31. RESERVATIONS.

Reservations may be made regarding any provision of this Agreement, provided that they are not incompatible with the purpose and purpose of this Agreement and are accepted by the majority of the participants.

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ARTICLE 32. NO APPLICATION.

1. The SGPC shall not apply to participants if they have not undertaken direct negotiations with each other and if any of them are unaware of such application at the time any of them agree to this Agreement.

2. The Committee may examine the application of this article in certain cases, at the request of any of the participants, and make appropriate recommendations.

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ARTICLE 33. SECURITY EXCEPTIONS.

None of the provisions of this Agreement shall be construed as preventing any participant from taking any measures deemed necessary for the protection of their essential security interests.

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ARTICLE 34. ATTACHMENTS.

1. The Annexes form an integral part of this Agreement and any reference to this Agreement or to one of its chapters includes a reference to the respective Annexes.

2. The Annexes to this Agreement shall be as follows:

(a) Annex I Participants to the Agreement

(b) Annex II Rules of origin.

(c) Annex III Additional measures in favour of the least developed countries.

(d) Annex IV List of concessions.

Made in Belgrade, Yugoslavia, on the thirteenth of April of a thousand nine hundred and eighty-eight, the texts of this Agreement being equally authentic in Arabic, Spanish, French and English.

In faith of which, the undersigned, duly authorized to do so have signed this Agreement on the dates indicated.

The undersigned Counsellor of Foreign Relations of the Section of the Treaties in charge of the functions of the Office of the Division of Legal Affairs of the Ministry of Foreign Affairs.

NOTES:

That the present reproduction is a faithful photocopy and integrates the certified text of the "Agreement on the Global System of Trade Preferences among Developing Countries", made in Belgrade, Yugoslavia, on 13 April 1988, which rests on the Archives of the Division of Legal Affairs-Section of the Treaties-of the Ministry of Foreign Affairs.

Dada en Bogotá D.E., 19 July 1990.

The Section's External Relations Advisor

of Treaties Enloaded with Dispatch functions

from the Division of Legal Affairs,

JOHN CARLOS ESPINOSA ESCALON.

Executive Branch of the Public Power-Presidency of the Republic

Bogotá, D.E., October 3, 1990

Approved. Submit to the honorable consideration

National Congress for Constitutional Effects.

(Fdo.) CESAR GAVIRIA TRUJILLO

The Deputy Foreign Minister in charge

of the Minister's Office functions,

RODRIGO PARDO GARCIA-PENA.

DECRETA:

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ARTICLE 1o. ApThe Agreement on the Global System in Trade Preferences between Developing Countries, signed in Belgrade on April 13, 1988.

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ARTICLE 2o. In accordance with the provisions of Article 1. of Law 7 of 1944, the Agreement on the Global System of Trade Preferences between Developing Countries, signed in Belgrade on April 13, 1988, which by the first article of this law is approved, will force the country from the date the international link is perfected.

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ARTICLE 3o. This Law governs from the date of its publication.

Dada en Santafe de Bogota, D.C. a los ... dias

of the month of ... thousand nine hundred and ninety-two (1992).

The President of the Honorable Senate of the Republic,

CARLOS ESPINOSA FACCIO-LINCE.

The President of the Honorable House of Representatives,

RODRIGO HERNANDO TURDAY COTE.

The Secretary General of the Honorable Senate of the Republic,

GABRIEL GUTIERREZ MACIAS.

The Secretary General of the Honorable House of Representatives,

SILVERIO SALCEDO MOSQUERA.

Republic of Colombia-National Government

Publish and execute.

Santafe de Bogota, D.C., July 15, 1992.

CESAR GAVIRIA TRUJILLO

The Foreign Minister,

NOHEMI SANIN DE RUBIO.

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