Decision Of The Joint EFTA - Latvija Committee No. 3 of 1999

(Adopted at the fourth meeting on 23 September 1999)

Amendments To Prococol B

THE JOINT COMMITTEE,

Having regard to Protocol B to the Agreement between the EFTA States and Latvia signed 7 December 1995, hereinafter referred to as "this Agreement" concerning the definition of the concept of "originating products" and methods of administrative cooperation, amended by Decision No. 1 of 1996 and No. 1 of 1999 of the Joint EFTA-Latvia Committee,

Having regard to paragraph 1 of the Record of Understanding relating to the Agreement between the EFTA States and Latvia according to which the Parties to the Agreement declared their readiness, in case of any decision taken in the appropriate bodies concerning the implementation of European cumulation, to adapt Protocol B accordingly,

Noting that to take account of changes in processing techniques and shortages of certain raw materials, some corrections should be made to the list of working and processing requirements which non-originating materials have to fulfil in order to qualify for originating status,

Noting that to take account of the introduction of the euro, the "units of account" shall be the equivalent to the single currency of the European Union (euro),

Having regard to Article 31 of the Agreement, empowering the Joint Committee to amend Protocol B to this Agreement,

DECIDES:

1. Sub-paragraph (n) of Article 1 of Protocol B shall be amended to read as follows:

"(n) "units of account" shall be the equivalent to the single currency of the European Monetary Union (euro),"

2. Paragraph 3 of Article 30 of Protocol B shall be amended to read as follows:

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

3. In Annex II to Protocol B, the entries for HS headings 1904, 2207, ex 8401 and 9608 as well as HS chapter 57 shall be replaced by the following:

(1) This rule shall apply until 31 December 2005.

4. This Decision shall enter into force on 1 January 2000. For the Republic of Latvia the entry into force of this Decision is subject to ratification.

5. If the Republic of Latvia has not notified the other States Parties on the ratification before 1 January 2000 it shall apply this Decision provisionally from that date until the ratification has been notified.

6. The Secretary-General of the European Free Trade Association shall deposit the text of this Decision with the Depository.