RESTRICTED  
  
WT/BOP/R/122  
 
13 April 2023  
(23-2535) Page: 1/1 
Committee on Balance -of-Payments Restrictions  Original: English  
 
 
REPORT ON THE MEETING OF  
22 MARCH 2023  
1.  The Committee on Balance -of-Payments Restrictions  met on 22  March  2023. The agenda of the 
meeting was contained in WTO/AIR/BOP/15.  
2.  During the meeting, the departing Chairman , Ambassador Saqer  Abdullah  ALMOQBEL 
(Kingdom  of Saudi  Arabia) referred to the Report on the Informal Consultations Regarding the 
Functioning of the Committee, which he had held bilaterally with Members on 
24 and 29 November  2022, following paragraph 3 of the MC12 Outcome Declaration. A summary of 
the discussion and the views expressed by Members during the consultations was contained in 
document WT/BOP/R/121.  
3.  Ambassador Saqer  Abdullah  ALMOQBEL noted that during the consultations, Members had 
expressed support for holding further discussions on the issue of reform, considered important from 
a systemic point of view. Some Members had bee n of the view that balance -of-payments issues had 
become increasingly important under current conditions, as the emergence of the COVID -19 
pandemic and its ensuing consequences had resulted in an increase in balance -of-payments 
problems and a resurgence of  protective trade measures. Several Members had expressed concern 
with respect to the lack of notifications of these measures to the Committee. In general, Members 
had agreed that transparency was important for the stability of the multilateral trading sys tem, and 
that notifying balance -of-payments measures was part of the transparency obligations.  
4.  He noted that some Members were of the view that solutions may be found by discussing 
balance -of-payments problems in the Committee of Balance -of-Payments Restr ictions, as it was 
important that Members relied on the WTO to deal with these problems, and that now was the time 
for the Committee to act in this respect. Some Members considered that a more detailed analysis of 
the balance -of-payments situation of a rev iewed country should be included in the Trade Policy 
Review reports prepared by the Secretariat and suggested further educational activity to remind 
Members of their notification obligations.  
5.  Members welcomed the discussion and highlighted the importance o f notifications and 
transparency. Some Members expressed their support for continuing to work on improving the 
functioning of the Committee and recalled that notifying balance -of-payments measures to the 
Committee was an obligation. One Member stressed tha t developing countries were facing 
challenges which had been exacerbated by the pandemic. The Secretariat was encouraged to 
organize a workshop on balance -of-payments issues, including notification obligations, and one 
member suggested including representa tives of the IMF in the discussions.  
6.  No issues were discussed under the "Other Business" item. Regarding the election of officers, the 
Permanent Representative of Cameroon, H.E. M r. Salomon  EHETH  was elected as the Chairperson 
of the Committee on Balance -of-Payments Restrictions for 2023. Ambassador EHETH  stated that the 
work of the Committee was more important than ever. He thanked Ambassador  ALMOQBEL for his 
valuable contribution towards revitalizing the work of the Committee and stated that he looked 
forward to redoubling efforts in coming months to follow the guidelines of paragraph 3.  
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