ARCHIVESHISTORIQUES
DELACOMMISSION
COLLECTION RELIEEDES
DOCUMENTS "COM"
COM(80)326
Vol.1980/0118

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COMMISSION
OFTHE
EUROPEAN COMMUNITIES
GeneralSecretariatCOM(80)326 final
Brussels,12th June 1980
FOROFFICIAL USEONLY
PROPOSAL FOR ACOUNCIL DECISION
AMENDING THE COUNCIL DECISION OF4APRIL 1978
ONTHE APPLICATION OFCERTAIN GUIDELINES INTHE
FIELD OFOFFICIALLY SUPPORTED EXPORT CREDITS
(presented bytheCommission totheCouncil )
COM (80)326 final

EXPLANATORY MEMORANDUM
TheArrangement onguidelinesforofficially supportedexportcredits
(theConsensus),towhichtheCommunityaccededon1April1978,applies
toexportcreditsoftwoyearsormore,forwhichitfixesthetermswhich
Participants intheArrangement aretorespect.Thesetermsaremainly
concernedwithcashpayments,interestratesandrepaymentterms.
»
TheCommunity,likethethirdcountryprovidersofcreditwhicharemembers
oftheArrangement,hasuptonow,feltreasonablysatisfiedwiththe
"applicationoftheguidelines.
Nevertheless ,developments intheworldeconomicsituation haveinevitably
affectedtheexportcreditfieldsincetheArrangement onofficially
supportedexportcreditscameintoforce.
OnaproposalfromtheCommission,theCounciladopted -adecisionon5May
ontheCommunity'spositionduringtheinternational negotiations onthe
amendmentofcertainprovisions oftheConsensus andauthorized the
Commission toputforwardthispositiononbehalfoftheCommunity.
TheCommission conductedthesenegotiations inconsultation withthe
Article113Committee.Thenegotiations wereconcludedon14May1980and
theresults,althoughincomplete,mayberegardedassatisfactory inthat
theaimoftheCouncil'snegotiating directives oninterestrateswas
achieved.
Therefore,andwithoutprejudicetothecontinuation ofthesenegotiations ,
theCommissionisproposing,inaccordance withArticle113,thatthe
Councilapprovetheseresultsandtaketheactionrequiredtoimplement
thembyadoptingtheattacheddecision.

Proposal fora
COUNCIL DECISION
amending theCouncil Decision of4April 1978 onthe
application ofcertain guidelines inthe field of
officially supported export credits
THECOUNCIL OFTHEEUROPEAN COMMUNITIES ,
Having regard totheTreaty establishing theEuropean Economic Community ,
and inparticular Article 113thereof ,
Having regard totheproposal from theCommission ,
Whereas theCommunity participates intheArrangement on
officially supported export credits ;
Whereas this Arrangement wasthesubject ofthe Council Decision of
4April 1978 ;whereas that Decision hasbeen extended onanumber of
occasions andwas last extended until 30November 1980 bythe Decision of
28May 1980 ;
Whereas ,inview ofdevelopments intheworld economic situation ,itis
still necessary toreduce unproductive competition inthefield ofofficia
supported export credits asfar aspossible andtoreinforce international
cooperation sothat theterms ofsuch credits donotdeteriorate ;

/-2-
WhereastothisendtheCouncilgavedirectives onthebasisofwhichthe
Commission wastoexpresstheCommunity'spositionduringtheinternational
negotiations ontheamendmentoftheArrangement whichwasthesubjectof
theCouncilDecisionof4April1978;
Whereastheamendments madetotheArrangement asaresultofthese
negotiations are,asregardstheinterestrates,inconformitywiththe
.sa'iddirectives;
Whereas .theotherparticipants intheArrangementintendtotakethenecessary
•stepsto.implementtherevisedArrangement;
Whereas,intheinterestsoftheCommunity andinordertoimplmentthe
principleofinternational cooperation,itisnecessaryfortherevised
Arrangement onexportcreditstobeappliedintheCommunity;
Whereasitisdesirablefortheapplication oftherevisedArrangement in
theCommunitytobelimitedintimeinordertoenabletheCommunitytore-examine
thesituationinthelightofexperience gainedfromitsapplication or
«ofanyotherfactorwhichmightaffectitsassessmentofthesaid
Arrangement;whereasitisnotthereforeappropriate toamendArticle 1
oftheCouncilDecisionof28May1980extendingitsDecisionof
4April1978;
HASADOPTEDTHISDECISION :
Article 1
Paragraph3(a)oftheArrangement annexedtotheCouncilDecisionof
4April1978shallbeamendedwitheffectfrom1July1980asindicated
intheAnnextothisDecision.

Article2
ThisDecisionisaddressedtotheMemberStates.
DoneatBrussel
FortheCouncil
ThePresident

ANNEX
Arrangement onofficiallysupportedexportcredits
NewParagraph3(a):
Theminimuminterestratesshallbeasfollows
ClassiTtcation
ofcountry
2to5Numberofyearsinmaximum
repaymentterm
over5to8.5 over8.5to10
Relativelyrich
Intermediate
Relativelypoor8.50%
8.00%
7.50%8.75%
8.50%
7.75%notapplicable
notapplicable
7.75%