Explanatory Memorandum to COM(2011)600 - Implementation of the bilateral safeguard clause and the stabilisation mechanism for bananas of the Trade Agreement with Colombia and Peru - Main contents
Please note
This page contains a limited version of this dossier in the EU Monitor.
| dossier | COM(2011)600 - Implementation of the bilateral safeguard clause and the stabilisation mechanism for bananas of the Trade Agreement with ... |
|---|---|
| source | COM(2011)600  |
| date | 03-10-2011 |
Grounds for and objectives of the proposal
This proposal concerns the incorporation in the European Union law of the safeguard clause and the Stabilisation Mechanism foreseen in the Trade Agreement with Colombia and Peru.
General context
On 19 January 2009 the Council authorised the Commission to open negotiations with the Member Countries of the Andean Community, which resulted in a Trade Agreement with Colombia and Peru. The Agreement was initialled on 23 March 2011.
The agreement includes a bilateral safeguard clause that provides for the possibility to re-instate the MFN customs duty rate when, as a result of a trade liberalisation, imports take place in such increased quantities and under such conditions as to cause (or threaten to cause) serious injury to the Union Industry producing the like or directly competitive product.
Furthermore, the agreement also incorporates a Stabilisation Mechanism for Bananas according to which, until 1 January 2020, preferential customs duties can be suspended when a certain annual import volume is reached.
In order for these measures to be operational, the safeguard clause and the Stabilisation Mechanism should be incorporated in European Union law, and the procedural aspects of their application as well as the rights of interested parties need to be specified.
Contents
This proposal for an implementing Regulation is directly derived from the text of the Agreement negotiated with Colombia and Peru. Consequently, no separate , consultation with interested parties nor any impact assessment is necessary. It is largely based on existing implementing regulations.
Summary of the proposed action
The attached proposal for a Regulation of the European Parliament and of the Council constitutes the legal instrument for the implementation of the safeguard clause and the Stabilisation Mechanism of the EU- Colombia and Peru FTA.
Legal basis
Article 207(2) of the Treaty on the Functioning of the European Union.