ARCHIVESHISTORIQUES
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DOCUMENTS "COM"
COM(75)123
Vol.1975/0042

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COMMISSION OFTHEBUKOI2ÂN COMMUMTIBS
COM(75)123final
Brussels,26March1975
Recommendation fora
DECISION(EEC)OFTHECOUNCIL
concerningthenegotiation withthePeople's
RepublicofBangladeshwithaviewtothe
conclusionofacommercialcooperation agreement
(submittedtotheCouncil "bytheCommission)
C0il(7^)123final

EXPLANATORY MEMORANDUM
IntheCouncilDirectivesforthenegotiationofaCommercialCooperation
Agreement(CCA)betweentheCommunityandBangladesh(l),theCommission
wasrequestedtoexplorethetermsonwhichtheCommunitycouldobtainan
undertaking fromBangladeshwithregardtonon-discriminatory accessto
itsnaturalresources.
Aseriesofpreliminary meetingshave'feenheld"betweenrepresentatives
oftheCommissionandrepresentatives ofBangladeshtoshedlightonthe
approachofbothsidestothisproblem.
TheGovernmentofBangladeshisnotwillingtoenterintoageneral
commitmentwhichwouldgivetheCommunitynon-discriminatory accesstoall
itsnaturalresources.IIwouldhowever,readilycondiserco-operation
withinspecifiedsectorsontertisthatwouldgivetheCommunityaccessto
thenaturalresourcesrelatedtosuchsectors,providedthatthisofferwould.
leadtoinvestments byCommunityenterprises which,inturn,wouldcontri-.
butesignificantly totheeconomicdevelopmentoftheircounctry.Further,.
Bangladeshispreparedtoguaranteesuchinvestments .
for
Thenaturalforumdefininginthelongterraspecificareasforthe
typeofco-operation envisagedisobvious^theJointCommissiontobeset
upundertheAgreement'.
ThepresentlegislationofBangladeshguaranteesforeigninvestors
againstnationalisation foraperiodoftenyearsafterthedateof
acquisitionofaninterestinaparticularventure.TheBangladeshrepre­
sentativesindicated,however,thattheirGovernmentarepreparedto
increasetheguaranteesinfavourofinvestorswhowouldengageinprojects
whichhadbeenselectedafterconsultation withintheframeworkoftheCCA.
(l)Doc.S/IO21/75(COMER196)of30September1974andCorr.1of8October

Bangladeshranksto-dayasoneofthepoorestamongthedeveloping
Countries.Yet,eventhoughprospecting has"beensofaronalimitedscale,
itisknownthatthecountrypossessescertainpotentialresourceswhich
couldcontributesignificantly toitsdevelopment and,concurrently ,supply
overseaspartnerswithneededrequirements.Inparticular,itwasreported(l)
in1973thatBangladeshdisposes,intheBayofBengal,of.depositsof
natural ,gasofauniquedegreeofpurityandinquantitiesestimatedatsome
8-9trillioncubicfeet.Therearealsoindicationsofoilreserves.
'ItistheopinionoftheCommissionthatthetermsonwhichBangladesh
ispreparedtoofferaocesstoitsnaturalresourcescouldbeofadvantage
forthetradinginterestsoftheCommunityand,simultaneously ,couldfawur
anovelformofco-operation whichwouldbringgenuinesocialandeconomic
progresstoanon-associated developingcountry.
FortheCommissiontoengageinnegotiation ontheselines,however,
wouldseemtocallforamodification onthenegotiationdirectivesto.
includeGommunityaccessonanon-reciprocal basistothenaturalresources
ofBangladeshinspecified 'sectors,ontheunderstanding thattheCommunity
willpromoteinvestmentsinthesesectorsbyCommunityenterprises andthat
Bangladeshwilloffersatisfactory guaranteesforsuchinvestments.
Tothisend,theCommissionrecommendsthattheCouncilmodifyinthe
mannersuggesteditsnegotiationdirectivesinthematterofaccessto
naturalresourcesand,tothateffect,adoptthe"Recommendation fora
Decision(EEC)oftheCouncil"appendedherewith..
(l)International BankforReconstruction andDevelopment,ReportNo455a-BD

Recommendation foraDECISION(EEC)OFTHECOUNCIL
concerningthenegotiationwiththePeople'sRepublicofBangladesh
withaviewtotheconclusionofacommercialcooperation agreement
THECOUNCILOPTHEEUROPEANCOMMUNITIES ,
HavingregardtotheTreatyestablishing theEuropeanEconomicCommunity,
andinparticularArticle113thereof,
Havingre/jardtotherecommendation oftheCommission,
WhereastheCouncil,byitsDecisionof15October1974»authorizedthe
Commissiontoopennegotiations withaviewtotheconclusionofa
commercialcooperation agreementbetweenEuropeanEconomicCommunityand
thePeople'sRepublicofBangladesh ;
Whereas,inviewoftheoutcomeofexploratorytalkswiththe
representatives ofBangladesh,itappearsnecessary,inregardtothe
conditionsofaccessbytheCommunitytothenaturalresourcesofthat
country,tomodifythedirectivesappendedtotheabove-mentioned
Decision,
HASDECIDED: SOLEARTICLE
ChapterB.IV,entitled"Accesstonaturalresources",ofthe
negotiationdirectivesappendedtotheCouncil'sDecision(EEC)of
15October1974authorizingtheCommissiontoopennegotiations with
thePeople'sRepublicofBangladeshwithaviewtotheconclusionsof
acommercialcooperation agreement,isreplacedbythetextgiveninthe
Annexehereto.
DoreatBrussels, FortheCouncil
ThePrésident,

AMEXE
IV.AccesstonaturalresourcesinBangladesh
TheCommissionshallendeavourtoobtaintheinclusioninthe
Agreer.entofprovisionssecuringfortheCommunitynon-discrininatory
acccsetothenaturalresourcesofBangladeshinsuchsectorsasmight
"berc-iconrnended bytheJointCommission.Theseprovisionswouldalso
relate,ontheonehand,tospecialstateguaranteeswhichmijhtbe
extendedbyBangladeshtoCommunityenterprisesinvestinginthese
r
sectorsand,ontheotherhand,tothemeasureswhichtheCoinroinity
mighttaketopromotesuchinvestments .