CELEX: 51984PC0329
Language: en
Date: 1984-06-27 00:00:00
Title: RECOMMANDATION FOR A COUNCIL DECISION Authorizing the Commission to negotiate a Euro-Arab Agreement to promote and protect investments (submitted to the Council by the Commission)

ARCHIVES HISTORIQUES
DE LA COMMISSION
COLLECTION RELIEE DES
DOCUMENTS "COM"
COM (84) 329
Vol. 1984/0146
 ---pagebreak--- Disclaimer
Conformément au règlement (CEE, Euratom) n° 354/83 du Conseil du 1er février 1983
concernant l'ouverture au public des archives historiques de la Communauté économique
européenne et de la Communauté européenne de l'énergie atomique (JO L 43 du 15.2.1983,
p. 1), tel que modifié par le règlement (CE, Euratom) n° 1700/2003 du 22 septembre 2003
(JO L 243 du 27.9.2003, p. 1), ce dossier est ouvert au public. Le cas échéant, les documents
classifiés présents dans ce dossier ont été déclassifiés conformément à l'article 5 dudit
règlement.
In accordance with Council Regulation (EEC, Euratom) No 354/83 of 1 February 1983
concerning the opening to the public of the historical archives of the European Economic
Community and the European Atomic Energy Community (OJ L 43, 15.2.1983, p. 1), as
amended by Regulation (EC, Euratom) No 1700/2003 of 22 September 2003 (OJ L 243,
27.9.2003, p. 1), this file is open to the public. Where necessary, classified documents in this
file have been declassified in conformity with Article 5 of the aforementioned regulation.
In Übereinstimmung mit der Verordnung (EWG, Euratom) Nr. 354/83 des Rates vom 1.
Februar 1983 über die Freigabe der historischen Archive der Europäischen
Wirtschaftsgemeinschaft und der Europäischen Atomgemeinschaft (ABI. L 43 vom 15.2.1983,
S. 1), geändert durch die Verordnung (EG, Euratom) Nr. 1700/2003 vom 22. September 2003
(ABI. L 243 vom 27.9.2003, S. 1), ist diese Datei der Öffentlichkeit zugänglich. Soweit
erforderlich, wurden die Verschlusssachen in dieser Datei in Übereinstimmung mit Artikel 5
der genannten Verordnung freigegeben.
 ---pagebreak---                                                                 COM (84) 329 final
      COMMISSION
                                                              Brussels, 27 June 1984
        OF THE
EUROPEAN COMMUNITIES
    General Secretariat                                 FOR OFFICIAL USE ONLY
                          RECOMMANDATION FOR A COUNCIL DECISION
            Authorizing the Commission to negotiate a Euro-Arab Agreement to promote
            and protect investments
                        (submitted to the Council by the Commission)
   COM(84) 329 final
 ---pagebreak---                                     EXPLANATORY MEMORANDUM
                    S i n c e S e p t e m b e r 1 9 8 1 , t h e Working C o m m it te e on F i n a n c i a l
C o o p e r a t i o n s e t u p u n d e r t h e E u r o - A r a b D i a l o g u e h a s met t h r e e t i m e s i n
B r u s s e l s and t w i c e i n T u n i s t o draw up a d r a f t Agreement on p r o m o t i n g
a n d m u t u a l l y p r o t e c t i n g i n v e s t m e n t . The s c o p e o f t h e d r a f t i s v e r y b r o a d ,
f o r i t i n c l u d e s m o n e t a r y and f i n a n c i a l a s s e t s i n i t s d e f i n i t i o n o f
investm ent.
                    The Community i n v e s t s i n t h e Arab c o u n t r i e s
by g r a n t i n g l o a n s and p r o v i d i n g r i s k c a p i t a l u n d e r f i n a n c i a l p r o t o c o l s
w i t h t h e Maghreb and Mashrek c o u n t r i e s , a n d u n d e r t h e Lome C o n v e n t i o n .
                    I t i s t h e r e f o r e d e s i r a b l e f o r t h e Community t o b e a p a r t y t o t h
A g r e e m e n t . Commenting on t h e p r o t e c t i o n o f i n v e s t m e n t a r i s i n g o u t o f t h e
C o m m u n i t y 's i n t e r n a t i o n a l c o m m i t m e n t s , t h e L e g a l S e r v i c e o f t h e C o u n c i l
p o n t e d o u t i n document DEA 3 / 8 3 t h a t t h e Member S t a t e s would n o t be i n a
p o s i t i o n t o s t a n d i n f o r t h e Community by u n d e r t a k i n g t h e r e s p o n s i b i l i t y
f o r e n s u r i n g t h e s e c u r i t y o f Community i n v e s t m e n t s .
                    The C o u n c i l i s t h e r e f o r e r e q u e s t e d t o a p p r o v e t h e a t t a c h e d
D e c i s i o n a u t h o r i z i n g t h e Commission t o n e g o t i a t e            at appropriate levels
w i t h a view t o b r i n g i n g i t s i n v e s t m e n t s w i t h i n t h e p u r v i e w o f t h e
 Agreement.
                     I t i s o b v i o u s t h a t su ch a u t h o r i z a t i o n makes no d i f f e r e n c e t o
 the    c o m p e t e n c e o f t h e Member S t a t e s t o p r o t e c t t h e i r own i n v e s t m e n t s .
 ---pagebreak---                  RECOMMANDATION FOR A COUNCIL DECISION
                        OF . . . . . . . . . . . . . .
Authorizing the Commission to negotiate a Euro-Arab Agreement to promote
and protect investments
The Council of the European Communities,
Having regard to the Treaty establishing the European Economic Community
and in particular Article 238 thereof,
Having regard to the Recommandation'from the Commission,
Whereas an Agreement on the promotion and mutual protection of investments
 is in the process of negotiation in the framework of the Euro-Arab dialogue,
Whereas the Community participates in financial investment in Arab
 countries, under financial protocols with the Maghreb and Mashrek countries
 and under the Lomé Convention; whereas it is desirable that these invest­
 ments should be protected under the terms of the aforesaid Agreement;
 whereas the Community ought therefore to participate in the negotiations
 with a view to becoming a party to the aforesaid Agreement,
 Has decided as follows :
                            Sole Article
 The Commission is hereby authorized to represent the Community at
 negotiations to conclude the Euro-Arab Agreement on mutual promotion and
 protection of investments, in order that its own investment may be
 protected under the terms of that Agreement.
                                         Done at Brussels
                                         For the Council
                                         The President