WORLD TRADE
ORGANIZATIONWT/TPR/M/74/Add.1
15 November 2000
(00-4863)
Trade Policy Review Body
11 and 13 October 2000
TRADE POLICY REVIEW
BAHRAIN
Minutes of Meeting
Addendum
Chairperson:  H.E. Dr. Iftekhar Ahmed Chowdhury (Bangladesh)
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ANNEX III ADDITIONAL RESPONSES TO QUESTIONS RAISED 3WT/TPR/M/74/Add.1
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ANNEX III
ADDITIONAL RESPONSES TO QUESTIONS RAISED
1.  OPEC/OAPEC – a question raised by the EU delegateOPEC:  Nature of business
The Organisation of Petroleum Exporting Countries  (OPEC) is an organisation of 12 major oil
producers and exporters.  It was founded in 1960 to  unify and coordinate its members' petroleum
policies and safeguard their interests.  It conducts research into energy studies, energy finance,
economics and technology.  It also holds regular meetings of members' oil ministers to set productionquotas and discuss oil prices.
OPEC also provides financial assistance to de veloping countries through its OPEC Fund for
International Development.  This agency was formed in 1976 by OPEC member countries to assist
developing states through financial cooperation and funding of projects.
The twelve members of OPEC, in order of size of crude oil reserves, are Saudi Arabia (crude reserves
35,500 million tonnes, gas reserves 5.3 trillion cubic metres), Iraq (13,400, 3.1), Kuwait (13,300, 1.5),
United Arab Emirates (12,900, 6.0), Iran (12,700, 20.7), Venezuela (9,100, 3.7), Libya (3,000, 1.3),
Nigeria (2,400, 3.4), Algeria (1,200, 3.6), Indonesi a (800, 1.8), Qatar (500, 7.1), Gabon (100, 0).
Ecuador withdrew from OPEC in 1992.
OPEC publications include OPEC Bulletin  (monthly), OPEC Review  (quarterly), Annual Report  and
Annual Statistical Review.
OAPEC:  Nature of business
The organisation's objectives are summed up in these three main aims:
A.  To carry out common projects that would achieve a diversified economic investment for the
members.  This, in turn, would lessen their dependency on petroleum as a sole source of income.  And
consequently, this would slow down the consumption of their petroleum and prolong the period of its
investment for future generations.
B.  To consider the legitimate rights of the consumer by making sure that petroleum reaches the
market under just and reasonable conditions.
C.  To develop and promote the international petroleum industry by means of providing suitable
circumstances for capital and experience to be invested in the member countries.  The text, in this
general sense, is applied to both national and foreign capital and experience as long as it is invested inthe petroleum industry of member states.
There is no direct relationship between OPEC and OAPEC, other than that some members of OAPEC
are also members of OPEC.
2.  DIFFICULTY EXPERIENCED BY INDIAN EXPORTERS OF MEDICINES
This matter is under investigation with the Ministry of Health, and we will respond shortly.WT/TPR/M/74/Add.1
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3.  CUSTOMS VALUATION AGREEMENT
Bahrain has requested a three-year extension up to year 2003, and the following actions are being
taken:
- appropriate national legislation so as to be in compliance with WTO and WCO
regulations are being formulated and finalized;
- adequate training of staff at the Customs Directorate is being carried out, in order to
enable them to understand the Customs Valuation Agreements, its terms and methods
of application, and in consultation and under the guidance of the WTO and WCO.  Atechnical mission from the Technical Cooperation Division of the WTO is being
scheduled;
- the unified GCC Customs Ordinance is currently being finalized, and expected to be
in force from year 2002;  and
- the unified Customs Ordinance Article No. 26 of Section (IV) will be in compliance
with the WTO Valuation Agreement.
In the meantime Bahrain is planning to establish an efficient Section under the Customs Directorate to
be responsible for the implementation of the Agreement.
At the present time Bahrain is still applying and charging customs duty on carrier media bearing
software.  However, this is currently under evaluation, and being evaluated to be in compliance with
the WTO.
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