CELEX: 51980PC0326
Language: en
Date: 1980-06-12
Title: PROPOSAL FOR A COUNCIL DECISION AMENDING THE COUNCIL DECISION OF 4 APRIL 1978 ON THE APPLICATION OF CERTAIN GUIDELINES IN THE FIELD OF OFFICIALLY SUPPORTED EXPORT CREDITS (presented by the Commission to the Council)

ARCHIVES HISTORIQUES
DE LA COMMISSION
COLLECTION RELIEE DES
DOCUMENTS "COM"
COM (80) 326
Vol. 1980/0118
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 ---pagebreak---                                                                       COM(80)326 final
      COMMISSION                                                     Brussels, 12th June 1980
        OF THE
EUROPEAN COMMUNITIES                                                 FOR OFFICIAL USE ONLY
    General Secretariat
                                         PROPOSAL FOR A COUNCIL DECISION
                                  AMENDING THE COUNCIL DECISION OF 4 APRIL 1978
                                 ON THE APPLICATION OF CERTAIN GUIDELINES IN THE
                                  FIELD OF OFFICIALLY SUPPORTED  EXPORT CREDITS
                                   (presented by the Commission to the Council )
                        COM ( 80 ) 326 final
 ---pagebreak---                            EXPLANATORY MEMORANDUM
   The Arrangement on guidelines for officially supported export credits
   ( the Consensus ), to which the Community acceded on 1 April 1978, applies
   to export credits of two years or more , for which it fixes the terms which
   Participants in the Arrangement are to respect .   These terms are mainly
   concerned with cash payments , interest rates and repayment terms .
    »
   The Community , like the third country providers of credit which are members
   of the Arrangement , has up to now, felt reasonably satisfied with the
" application of the guidelines .
   Nevertheless , developments in the world economic situation have inevitably
   affected the export credit field since the Arrangement on officially
   supported export credits came into force .
  On a proposal from the Commission , the Council adopted- a decision on 5 May
  on the Community 's position during the international negotiations on the
  amendment of certain provisions of the Consensus and authorized the
  Commission to put forward this position on behalf of the Community .
  The Commission conducted these negotiations in consultation with the
  Article 113 Committee .    The negotiations were concluded on 14 May 1980 and
  the results , although incomplete , may be regarded as satisfactory in that
  the aim of the Council 's negotiating directives on interest rates was
  achieved .
  Therefore , and without prejudice to the continuation of these negotiations ,
  the Commission is proposing , in accordance with Article 113 , that the
  Council approve these results and take the action required to implement
  them by adopting the attached decision .
 ---pagebreak---                            Proposal for a
                            COUNCIL DECISION
         amending the Council Decision of 4 April 1978 on the
         application of certain guidelines in the field of
         officially supported export credits
THE COUNCIL OF THE EUROPEAN COMMUNITIES ,
Having regard to the Treaty establishing the European Economic Community ,
and in particular Article 113 thereof ,
Having regard to the proposal from the Commission ,
Whereas the Community participates in the Arrangement on
    officially supported export credits ;
Whereas this Arrangement was the subject of the Council Decision of
4 April 1978; whereas that Decision has been extended on a number of
occasions and was last extended until 30 November 1980 by the Decision of
28 May 1980;
Whereas , in view of developments in the world economic situation, it is
still necessary to reduce unproductive competition in the field of officia
supported export credits as far as possible and to reinforce international
cooperation so that the terms of such credits do not deteriorate;
 ---pagebreak---                                           - 2 -
/
        Whereas to this end the Council gave directives on the basis of which the
        Commission was to express the Community 's position during the international
        negotiations on the amendment of the Arrangement which was the subject of
        the Council Decision of 4 April 1978;
        Whereas the amendments made to the Arrangement as a result of these
        negotiations are , as regards the interest rates , in conformity with the
    . sa'id directives ;
       Whereas .the other participants in the Arrangement intend to take the necessary
     • steps to . implement the revised Arrangement ;
       Whereas , in the interests of the Community and in order to implment the
       principle of international cooperation , it is necessary for the revised
       Arrangement on export credits to be applied in the Community ;
       Whereas it is desirable for the application of the revised Arrangement in
       the Community to be limited in time in order to enable the Community to re-examine
       the situation in the light of experience gained from its application or
  «   of any other factor which might affect its assessment of the said
      Arrangement ;    whereas it is not therefore appropriate to amend Article 1
      of the Council Decision of 28 May 1980 extending its Decision of
       4 April 1978;
       HAS ADOPTED THIS DECISION :
                                      Article 1
      Paragraph 3(a ) of the Arrangement annexed to the Council Decision of
      4 April 1978 shall be amended with effect from 1 July 1980 as indicated
       in the Annex to this Decision .
 ---pagebreak---                           Article 2
This Decision is addressed to the Member States .
                                     Done at Brussel
                                     For the Council
                                     The President
 ---pagebreak---                                  ANNEX
Arrangement on officially supported export credits
New Paragraph 3(a ) :
The minimum interest rates shall be as follows
ClassiT tcation                              Number of years in maximum
of country                                   repayment term
                      2 to 5         over 5 to 8.5          over 8.5 to 10
Relatively rich        8.50%             8.75%              not applicable
Intermediate           8.00%             8.50%              not applicable
Relatively poor        7.50%             7.75%                  7.75%