(b) a mutually agreed period between the parties to the dispute within 45 days of the adoption of the recommendations and decisions; or, in the absence of such an agreement, 2. The DPO shall inform the relevant WTO Councils and Committees of any developments in disputes relating to the provisions of the relevant agreements. 2. In accordance with Article 3(2), the panel and the Appellate Body may not, in their conclusions and recommendations, supplement or reduce the rights and obligations provided for in the covered agreements. 9. The provisions of this Agreement are without prejudice to the right of Members to request a binding interpretation of the provisions of a covered agreement by decision under the WTO Agreement or a covered agreement that is a plurilateral trade agreement. 2. The rules and procedures of this Agreement shall apply subject to the special or supplementary rules and procedures for dispute settlement set out in Annex 2 to this Agreement contained in the Covered Agreements. To the extent that there is a difference between the rules and procedures of this Agreement and the special or additional rules and procedures set out in Annex 2, the special or additional rules and procedures set out in Annex 2 shall prevail. In the case of disputes concerning rules and procedures arising out of more than one covered agreement, where there is a conflict between special or supplementary rules and procedures of those agreements to be considered and the parties to the dispute are unable to agree on rules and procedures within 20 days of the establishment of the panel, the Chair of the Dispute Settlement Body provided for in Article 2(1) (referred to ex officio as a panel in this Agreement); establish, in consultation with the parties to the dispute, the rules and procedures to be followed within 10 days of a member`s request.
The Chair shall be guided by the principle that, to the extent possible, special or additional rules and procedures should be applied and that the rules and procedures established in this Agreement should be applied to the extent necessary to avoid conflicts. 1. If Members seek compensation for a breach of obligations or any other cancellation or deterioration of services under the covered agreements or an obstacle to the achievement of any of the objectives of the covered agreements, they shall have recourse to and comply with the rules and procedures of this Agreement. 11. This Agreement shall apply only to new requests for consultation under the provisions on consultation of covered agreements made on or after the date of entry into force of the WTO Agreement. Disputes in respect of which the request for consultation under GATT 1947 or any other predecessor of the covered agreements was made before the date of entry into force of the WTO Agreement shall continue to be governed by the relevant dispute settlement rules and procedures in force immediately before the date of entry into force of the WTO Agreement. (2) 5. A Council for Trade in Goods, a Council for Trade in Services and a Council for Trade-Related Aspects of Intellectual Property Rights (hereinafter referred to as the TRIPS Council), acting under the general direction of the General Council, is hereby established. The Council for Trade in Goods monitors the operation of the multilateral trade agreements listed in Annex 1A.
The Council for Trade in Services monitors the operation of the General Agreement on Trade in Services (hereinafter referred to as “GATS”). The TRIPS Council monitors the operation of the Agreement on Trade-Related Aspects of Intellectual Property Rights (hereinafter referred to as the “TRIPS Agreement”). These Councils shall carry out the tasks entrusted to them by their respective agreements and by the General Council. They shall adopt their rules of procedure, subject to the approval of the General Council. Membership in these councils is open to representatives of all members. These councils shall meet to the extent necessary for the performance of their functions. (b) Similar provisions shall apply to any Party that is not a member of the Fund from the date on which that Party becomes a member of the Fund or enters into a special exchange agreement in accordance with Article XV. 3. The agreements and related legal instruments listed in Annex 4 (hereinafter referred to as “plurilateral trade agreements”) shall also form part of this Agreement and shall be binding on the Members which have adopted them. Plurilateral trade agreements do not create obligations or rights for members who have not accepted them. (g) for the purposes of this paragraph, agreement means: 4.
(a) Except as otherwise provided in this paragraph, where it is necessary, for the purposes of paragraph 2, for a Party to convert a price expressed in the currency of another country into its own currency, the conversion rate to be used for each currency concerned shall be used, at the nominal value determined in accordance with the Articles of the Agreement on the International Monetary Fund; either the exchange rate recognized by the Fund or the nominal value determined in accordance with a special exchange agreement concluded in accordance with Article XV of this Agreement. 2. In all cases where the CONTRACTING PARTIES are required to examine or deal with problems relating to foreign reserve assets, balances of payments or exchange rate arrangements, they shall consult the International Monetary Fund in full. In the course of such consultations, the CONTRACTING PARTIES shall accept all findings of statistical data and other statistical and other facts submitted by the Fund concerning currencies, foreign reserves and balances of payments and shall agree that the Fund shall determine whether a Party`s exchange rate behaviour is consistent with the Articles of the Agreement on the International Monetary Fund or with the terms of a special exchange rate agreement between the Fund and the United Kingdom. Contracting Party and contracting parties. IN their final decision, the CONTRACTING PARTIES shall accept, in cases relating to the criteria laid down in Article XII (2) (a) or Article XVIII (9), the recognition of the Fund as constituting a serious deterioration in the foreign exchange reserves of the Contracting Parties, a very low level of its foreign exchange reserves or an appropriate rate of increase in its foreign reserve assets, and with regard to the financial aspects of other matters, which are consulted in such cases. 1. Where a panel or appellate body concludes that a measure is inconsistent with a covered agreement, it shall recommend that the Member concerned(9) align the measure with that agreement. 10. In addition to its recommendations, the panel or appellate body may propose ways in which the Member concerned could implement the recommendations. 11. Where one or more of the Parties are members of a developing country, the panel report shall explicitly indicate the form in which account has been taken of the relevant provisions relating to the differential and more favourable treatment of developing country Members that are part of the covered agreements submitted by the developing country Member during the dispute settlement proceedings.
2. Decisions on accession shall be taken by the Ministerial Conference. The Ministerial Conference approves the Agreement on the Conditions of Accession by a Two-Thirds Majority of WTO Members. 4. Where a third party considers that a measure which is already the subject of a special investigation procedure nullifies or impairs the benefits conferred on it under a covered agreement, that Member may have recourse to the normal dispute settlement procedures provided for in that agreement. Such a dispute shall be submitted to the organ of origin as far as possible. The role of the bodies shall be to assist the Mutual Banking Council in the performance of its tasks under this Agreement and the agreements referred to. Accordingly, a panel should make an objective assessment of the matter before it, including an objective assessment of the facts of the case and the applicability and consistency with the relevant covered agreements, and draw other conclusions to assist the dispute settlement body in making the recommendations or taking the decisions provided for in the covered agreements. Panels should consult regularly with the parties to the dispute and give them an appropriate opportunity to develop a mutually satisfactory solution. 10.7 If a Member has reached agreement with one or more other countries on matters relating to technical regulations, standards or conformity assessment procedures that may have a significant impact on trade, at least one Party Member to the Agreement shall communicate to the other Members, through the Secretariat, the products covered by the Agreement and include a brief description of the Agreement. The members concerned are invited to enter into consultations with other members upon request in order to conclude similar agreements or to organize their participation in such agreements. (c) follow the procedures set out in Article 22 to determine the degree of suspension of concessions or other obligations and seek the approval of the dispute settlement body in accordance with those procedures before suspending concessions or other obligations under covered agreements if the Member concerned has not implemented the recommendations and decisions within that reasonable period of time.
(d) Contracting Parties shall invite any Party applying restrictions under this Article to enter into consultations with each Party at the request of any Party that can provide prima facie evidence that the restrictions are inconsistent with this Article or with those of Article XIII (subject to Article XIV) and that their trade is affected by them. However, such a request may be made only if the CONTRACTING PARTIES have established that the direct discussions between the Contracting Parties concerned have not been concluded. .
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