CELEX: 51991PC0169
Language: en
Date: 1991-05-16
Title: PROPOSAL FOR A COUNCIL REGULATION ( EEC ) ON AN EXPORT EARNINGS STABILIZATION SYSTEM FOR LEAST-DEVELOPED COUNTRIES IN ASIA AND LATIN AMERICA ( ALA )

6. 6. 91                              Official Journal of the European Communities                             N o C 147/15
                                                              II
                                                       (Preparatory Acts)
                                                 COMMISSION
             Proposal for a Council Regulation (EEC) on an export earnings stabilization system for least-
                                   developed countries in Asia and Latin America (ALA)
                                                        (91/C 147/05)
                                                     COM(91) 169 final
                                      (Submitted by the Commission on 23 May 1991)
THE COUNCIL OF THE EUROPEAN COMMUNITIES,                           Whereas in exercising its implementing powers the
                                                                   Commission should be assisted by an advisory committee
Having regard to the Treaty establishing the European              consisting of representatives of the Member States;
Economic Community, and in particular Article 235
thereof,
                                                                   Whereas the Treaty has not provided the necessary
Having regard to the proposal from the Commission,                 powers other than those of Article 235,
Having regard      to   the   opinion   of   the   European
Parliament,                                                        HAS ADOPTED THIS REGULATION:
Whereas in pursuance of the Community development
cooperation policy it is desirable to give effect on certain                                 TITLE I
conditions to an export earnings stabilization system for
least-developed countries in Asia and Latin America                             Objectives and general provisions
(ALA);
                                                                                            Article 1
Whereas amongst the objectives that make up the                    1.    As part of its policy for cooperation with
importance and significance of development there is inter          developing countries, the Community shall set up an
alia that of promoting the welfare and respecting the              export earnings stabilization system for certain ALA
fundamental rights of the communities concerned;                   countries classed by the United Nations among the least-
whereas it is therefore necessary to obtain the fullest            developed countries (LLDCs). The list of beneficiary
guarantees that the system will operate to the benefit of          countries shall be adopted in accordance with the
those communities;                                                 procedure set out in Article 6 (2).
Whereas for the purposes of implementation, the aims
and outlines of the system should be established in a              2.    The system shall cover the period from 1991 to
basic regulation;                                                  2000; the first transfers shall be made from 1992
                                                                   onwards and the last in 2001.
Whereas to ensure that the system attains its objectives it
is necessary to provide that the countries concerned
should benefit only if they undertake to abide by certain
conditions;                                                                                 Article 2
                                                                   1.    The aim of the system referred to in Article 1 shall
Whereas it is necessary to estimate the amount of                  be to help stabilize the earnings of the countries
Community funding needed to carry out the operation;               concerned from exports to the Community of products
whereas the appropriations available will be determined            on which their economies are dependent, which are
as part of the budget procedure in compliance with the1            affected by fluctuations in price or quantity or both.
financial perspective attached to the Interinstitutional
Agreement of 29 June 1988 (»);
                                                                   2.    The list of products concerned shall be adopted in
(') OJ No L 185, 15. 7. 1988, p. 33.                               accordance with the procedure set out in Article 6 (2).
 ---pagebreak--- No C 147/16                            Official Journal of the European Communities                                6. 6. 91
3.    The system referred to in paragraph 1 shall help                                     TITLE III
stabilize export earnings by means of non-repayable
transfers of financial resources, hereinafter referred to as              Rules and procedures for implementation
'transfers'.
                                                                                            Article 5
4.    In order to attain the objectives set, transfers shall     The implementing rules concerning the matters referred
be devoted, in accordance with a framework of mutual             to in Articles 1 (1) and 2 (2) shall be adopted in
obligations to be agreed between the recipient country            accordance with the procedure set out in Article 6.
and the Commission in each case, either to the sector,
interpreted in the widest possible sense, that recorded the
                                                                                            Article 6
drop in export earnings and be used there for the benefit
of economic operators adversely affected by this drop,            1.    The Commission shall be assisted by an advisory
or, where appropriate, directed towards diversification,         committee consisting of representatives of the Member
either for use in other agricultural productive sectors, or      States, with a Commission representative in the chair,
for the processing of agricultural products.                     called the 'ALA Stabex Committee'.
                                                                 2.     The Commission representative shall put before the
                          Article 3                              committee the draft measures to be adopted. The
                                                                 committee shall deliver its opinion on the draft measures,
The system shall apply to earnings derived from imports
                                                                 by vote if necessary, within a period which the chairman
into the Community of each of the products referred to
                                                                 may determine in the light of the urgency of the matter
in Article 2 (2), originating in one of the beneficiary
                                                                 under consideration.
countries.
                                                                 The opinion shall be entered in the minutes; in addition,
                                                                 each Member State shall have the right to request that its
                          TITLE II                               position be entered in the minutes.
             Funding and financial management
                                                                 The Commission shall take the fullest account of the
                          Article 4                               opinion delivered by the committee. It shall inform the
                                                                  committee on the way in which it has done so.
1.    The estimated amount of Community expenditure
needed to fund the operation set up by this Regulation is
ECU 90 million for the five-year period from the 1992                                       Article 7
financial year to the 1996 financial year.                       The Commission shall report annually to Parliament and
                                                                 the Council on the administration of the system during
2.    The budget authority shall determine the appropri-          the preceding year.
ations available for each financial year.
                                                                                            Article 8
3.    The estimated amount needed for the second
five-year period from the 1997 financial year to the 2001        This Regulation shall enter into force on 1 January 1992.
financial year shall be decided in 1996 on the basis of an
evaluation of the operation of the system during the first       This Regulation shall be binding in its entirety and
five years.                                                       directly applicable in all Member States.
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