Resolution No 1/1999

On the changes of Protocol A to the Free Trade Agreement between the Republic of Estonia, the Republic of Latvia and the Republic of Lithuania signed on September 13, 1993

THE JOINT COMMITTEE,

making reference to the Free Trade Agreement between the, the Republic of Estonia, the Republic of Latvia and the Republic of Lithuania, signed on September 13, 1993 and the amendments to Protocol A of the Free Trade Agreement between the Republic of Estonia, the Republic of Latvia and the Republic of Lithuania signed on February 6, 1997 by the Resolution of the Joint Committee No 1/1997 and as well as amendments to Protocol A of the Free Trade Agreement between the Republic of Estonia, the Republic of Latvia and the Republic of Lithuania signed on December 22, 1998 by the Resolution of the Joint Committee No 1/1998;

making reference to Article 24 of the Free Trade Agreement between, the Republic of Estonia, the Republic of Latvia and the Republic of Lithuania (hereinafter referred to as Agreement);

Whereas the definition of the term "originating products" needs to be amended to ensure the proper operation of the extended system of cumulation which permits the use of materials originating in the European Community, Poland, Hungary, the Czech Republic, the Slovak Republic, Bulgaria, Romania, Latvia, Estonia, Lithuania, Slovenia, Turkey, Iceland, Norway and Switzerland (including Liechtenstein);

Whereas it would seem advisable to revise the Articles concerning the amounts in order to fully take into consideration the entry into force of the euro;

Whereas, to take account of changes in processing techniques and shortages of certain raw materials, some corrections must be made to the list of working and processing requirements which non-originating materials have to fulfil to quality for originating status,

HAS DECIDED AS FOLLOWS:

Article 1

Protocol A concerning the definition of the concept of "originating products" and methods of administrative co - operation is hereby amended as follows:

1. In Articles 21 and 26 the word "ECU" shall be replaced by "euro".

2. Article 30 shall be replaced by the following:

" Article 30

Amounts expressed in euro

1. Amounts in the national currency of the exporting country equivalent to the amounts expressed in euro shall be fixed by the exporting country and communicated to the importing country.

2. When the amounts exceed the corresponding amounts fixed by the importing country, the latter shall accept them if the products are invoiced in the currency of the exporting country. When the products are invoiced in the currency of another country referred to in Article 4, the importing country shall recognise the amount notified by the country concerned.

3. The amounts to be used in any given national currency shall be the equivalent in that national currency of the amounts expressed in euro as at the first working day of October 1999.

4. The amounts expressed in euro and their equivalents in the national currencies of Latvia, Estonia and Lithuania shall be reviewed by the Joint Committee at the request of Latvia, Estonia or Lithuania. When carrying out this review, the Joint Committee shall ensure that there will be no decrease in the amounts to be used in national currency and shall furthermore consider the desirability of preserving the effects of the limits concerned in real terms. For this purpose, it may decide to modify the amounts expressed in euro."

3. Annex II shall be amended as follows:

(a) the entry for HS heading 1904 shall be replaced by

Article 2

This Resolution shall enter into force on the first day of the second month after all the Parties have notified the Depositary of completing the internal legal procedures necessary for the entry into force of this Resolution

The Resolution shall be applied provisionally from1 January 2000.

This Resolution shall be deposited with the Depositary of the Free Trade Agreement between the Republic of Estonia, Republic of Latvia and the Republic of Lithuania signed on 13 September, 1993, the Republic of Estonia.

IN WITNESS WHEREOF the undersigned plenipotentiaries, being duly authorised thereto, have signed this Resolution.

DONE at Tallinn, this 25 day of November, one thousand nine hundred and ninety nine in one copy in the English, Estonian, Latvian, Lithuanian languages. In case of divergence the English text shall prevail.