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Agreement on SAARC Preferential Trading Arrangement
(SAPTA)
Article - 13
Balance-of-Payments Measures
- Notwithstanding the provisions of this agreement, any contracting
state facing serious economic problems including balance of payments
difficulties may suspend provisionally the concessions as to the quantity
and value of merchandise permitted to be imported under the agreement.
When such action has taken place, the contracting state, which initiates
such action, shall simultaneously notify the other contracting states
and the committee.
- Any contracting state which takes action according to paragraph
1 of this Article shall afford, upon request from any other contracting
stated, adequate opportunities for consultations with a view to preserving
the stability of the concessions negotiated under the SAPTA. It no
satisfactory adjustment is effected between the contracting states
concerned within 90 days of such nitrification, the matter may be
referred to the committee for review.
Article - 14
Safeguard Measures
If any product, which is a subject of a concession with respect to
a preference under this agreement, is imported into the territory
of a contracting state in such a manner or in such quantities as to
cause or threaten to cause, serous injury in the importing contracting
state, the importing contracting state concerned may, with prior consolations,
except in critical circumstances, suspend provisionally without discrimination,
the concession accorded under the agreement. When such action has
taken place the contracting state which initiates such action shall
simultaneously notify the other contracting state(s) concerned and
the committee shall enter into consultations with the concerned contracting
state and endeavor to reach mutually acceptable agreement to remedy
the situation. In the event of the failure of the contracting state
to resolve the issue within 90 days of the receipt of original notification,
the committee of participants shall meet within 60 days, the parties
affected by such action shall have the right to withdraw equivalent
concessions(s) or other obligation(s) which the committee does not
disapprove of.
Article - 15
Maintenance of the Value of Concessions
Any of the concessions agreed upon under this agreement shall not
be diminished or nullified, by the application of any measures restricting
trade by the c contracting state except under the provisions as spelt
out in other Article of this agreement.
Article - 16
Rules of Origin
Products contained in the National Schedules of Concessions annexed
to this agreement shall be eligible for preferential treatment if
they satisfy the rules of origin, including special rules of origin,
in respect of the Least Developed Contracting State, which are set
out in Annex - III
Article - 17
Modification and Withdrawal of Concessions
- Any contracting state may, after a period of three years from
the day the concession was extended, notify the committee of its
intention to modify or withdraw any concession included in its
appropriate schedule.
- The contracting state intending to withdraw or modify a concession
shall enter into consultation and/or negotiations, with a view
to reaching agreement on any necessary and appropriate compensation,
with contracting state with which such concession was initially
negotiated and with any other contracting state that have a principal
or substantial supplying interest as ma be determined by the committee
principal or substantial supplying interest as may be determined
by the committee.
- Should o agreement be reached between the contracting state
concerned within six months of the receipt of notification and
should the notifying contracting state as determined by the committee
may withdraw or modify equivalent concessions in their appropriate
schedules. Any such modification withdrawal shall be notified
to the committee.
Article - 18
Withholding or Withdrawal of Concessions
A contracting state shall at any time be free to withhold or to withdraw
whole or in part any item in its schedule of concessions in respect
of which determines that it was initially negotiated with a state
which has ceased to be notify the committee, and upon request, consult
with contracting state that have substantial interest in the product
concerned,
Article - 19
Consultations
- Each contracting state shall accord sympathetic consideration
to and shall afford adequate opportunity for consultation regarding
such representations as may be made by another contracting state
with respect to any matter affecting the operation of this agreement.
- The committee may, at the request of a contracting state, consult
with any contracting state in respect of any matter for which
it has not been possible to find a satisfactory solution through
such consultation under paragraph 1 above.
Article - 20
Settlement of Disputes
Any dispute that may arise among the contracting state regarding the
interpretation and application of the provisions of this agreement
or any instrument adopted within its framework shall be amicably settled
by agreement between the parties concerned. In the event of failure
to settle a dispute, it may be referred to the committee by a party
to the dispute. The committee shall review the matter and make a recommendation
thereon within 120 days from the date on which the dispute was submitted
to it. The committee shall adopt appropriate rules for this purpose.
Article - 21
Withdrawal from SAPTA
- Any contracting state may withdraw from this agreement at any
time after its entry into force. Such withdrawal shall be effective
six months from the day on which written notice thereof is received
by the SAARC Secretariat, the depositary of this agreement. That
contracting state shall simultaneously inform the committee of
the action it has taken,
- The rights and obligations of a contracting state which has
withdrawn from this agreement shall cease to apply as of that
effective date.
- Following the withdrawal by any contracting state, the committee
shall meet within 30 days to consider action subsequent to withdrawal.
Article - 22
Entry into Force
This agreement shall enter into force on the thirtieth day after the
notification issued by the SAARC Secretariat regarding completion
of the formalities by all contracting states.
Article - 23
Reservations
This agreement may not be signed with reservations nor shall reservations
be admitted at the time of notification to the SAARC Secretariat of
the completion of formalities.
Article - 24
Amendments
This agreement may be modified through amendments to its agreement.
All amendments shall become effective upon acceptance by all contracting
states.
Article - 25
Depositary
This agreement shall be deposited with the Secretary General of SAARC
who shall promptly furnish a certified copy thereof to each contracting
states.
IN WITNESS WHEREOF the undersigned being duly authorized thereto by
their respective Governments have signed this agreement on the SAARC
preferential trading agreement.
Done at DHAKA this ELEVENTH day of APRIL One Thousand Nine Hundred
Ninety Three in eight originals in the English language.
| A.S.M. MOSTAFIZUR RAHMAN
Minister of Foreign Affairs
People's Republic of Bangladesh
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DAWA TSERING
Minister of Foreign Affairs
Kingdom of Bhutan |
DINESH SINGH
Minister of External Affairs
Republic of India |
FATHULLA JAMEEL
Minister of Foreign Affairs
Republic of Maldives |
MAHESH ACHARY
State Minister of Finance
His Majesty's Government of Nepal |
MOHAMMAD SIDDIQUE KHAN KAJU
Minister of State for Foreign Affairs
Islamic Republic of Pakistan |
HAROLD HERAT
Minister of Foreign Affairs
Democratic Socialist Republic of Sri Lanka
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