Regulation (EEC) No 2051/74 of the Council of 1 August 1974 on the customs procedure applicable to certain products originating in and coming from the Faroe Islands

REGULATION (EEC) No 2051/74 OF THE COUNCIL  of 1 August 1974  on the customs procedure applicable to certain products originating in and coming from the Faroe Islands
THE COUNCIL OF THE EUROPEAN COMMUNITIES
,
Having regard to the Treaty establishing the European Economic Community;
Having regard to the proposal from the Commission;
Whereas in its resolution of 4 February 1974, the Council stated that it was at present prepared to adopt, for the purpose of promoting exports from the Faroe Islands to the Community, an arrangement for the progressive elimination of customs duties on imports of products originating in and coming from the Faroe Islands which are essential for their economic and social development ; whereas in this resolution the Council also recognized that fishing is of vital importance for the Faroe Islands and that because of the geographical situation of this region of the Kingdom of Denmark, fishing and related industries are essential activities for the population, since possibilities of alternative employment are extremely limited ; whereas on this occasion the Council expressed its desire that the Community should play its part in the development of the Faroe Islands and its willingness to re-examine, in the light of the results of the Conference on the Law of the Sea, the decisive factors for the economic and social development of this region of the Kingdom of Denmark;
Whereas, by virtue of Protocol No 2 annexed to the Act of Accession (1), products imported from the Faroe Islands into the other regions of Denmark which come within the customs procedure applicable on 1 January 1973, cannot be considered as being in free circulation in the other regions of Denmark within the meaning of Article 10 of the Treaty when they are exported to another Member State ; whereas, furthermore, as regards products coming within the common organization of the market in the fishing sector the benefits of this provision are dependent upon the Faroe Islands respecting the reference prices fixed or to be fixed by the Community,