Common use of PROCESSED AGRICULTURAL PRODUCTS Clause in Contracts

PROCESSED AGRICULTURAL PRODUCTS. 1. In order to take account of differences in the cost of the agricultural raw materials incorporated into the products referred to in Article 2 of this Annex, this Agreement does not preclude: (a) the levying, upon import, of a duty; (b) the application of measures adopted upon export. 2. The duty, levied upon import, shall be based on, but not exceed, the differences between the domestic price and the world market price of the agricultural raw materials incorporated into the products concerned. Article 2 Taking into account the provisions laid down in Article 1 of this Annex, the EFTA States shall accord to products listed in Table 1, originating in GCC, treatment as indicated in the Table, and no less favourable than that accorded to the European Community. Article 3 For products listed in Table 2 to this Annex, originating in an EFTA State, GCC shall accord treatment as indicated in the Table and no less favourable than that accorded to the European Community. 1. The EFTA States shall notify GCC and GCC shall notify the EFTA States at an early stage, at least before the entering into force of this Agreement, of all measures applied under Article 1 of this Annex. 2. GCC and the EFTA States shall inform each other of all changes in the treatment accorded to the European Community. Article 5 The Parties shall review periodically the development of their trade in products covered by this Annex. In the light of these reviews and taking into account the arrangements between the Parties and the European Community or in WTO, the Parties shall decide on possible changes to the product coverage of this Annex, as well as on a possible development of the measures applied under Article 1 of this Annex.