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WTO: 2009 NEWS ITEMS

COMMITTEE ON BALANCE OF PAYMENTS RESTRICTIONS

The Committee approved its report on the consultations with Ecuador. The conclusions of the report included the following:

• The trade measures applied by Ecuador covered about 8.7% of all tariff lines, affecting a volume of trade equivalent to some 23% of its total 2008 imports;

• Ecuador will replace most of the quantitative restrictions for price-based measures no later than 1 September 2009;

• Ecuador will progressively modify the level and scope of the measures as its balance-of-payments situation improves; and

• The Committee welcomed Ecuador's commitment to remove all trade measures for balance-of-payments purposes no later than 22 January 2010.

Ecuador thanked the efforts of the Chair (Amb. Darlington Mwape of Zambia) and the WTO Secretariat, and the flexibility of members in the consultations. It said the decision showed that WTO members are willing to negotiate pragmatic solutions, and that this sends a good signal for the day-to-day work of the organization. It promised to continue to be transparent, and to listen to concerns from members.

Many delegations welcomed the report, and commended Ecuador's constructive engagement in the consultations.

The Chair informed the Committee that Ukraine had notified that it had eliminated its 13% import surcharge measures taken for balance-of-payments purposes, except for those imposed on imports of refrigerators and motor vehicles. The surcharge on these two items is expected to remain until 7 September 2009.

The Chair proposed, and the Committee agreed, to hold consultations with Ukraine regarding its restrictions on the two products on 23 and 25 June 2009.

On another matter, the Committee approved a draft decision that would automatically make any WTO member a member of the BOP Committee (under current procedures, a WTO member has to notify its interest to become a member of the Committee before it can participate in the Committee's work), and forwarded it to the General Council for adoption.

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