Article 1 
The criteria referred to in Article 6 of Regulations (EC) No 3281/94 and (EC) No 1256/96 are as follows: — a per capita gross national product exceeding US $ 8 210 for 1995 in accordance with the most recent World Bank figures, — a development index, calculated in accordance with the formula and on the basis of the figures given in Part 2 of Annex II to Regulations (EC) No 3281/94 and (EC) No 1256/96, greater than -1. These criteria shall be applicable cumulatively.
Article 2 
The withdrawal of one country or territory from the list of countries and territories benefiting from generalized preferences by virtue of the criteria set out in Article 1 shall not affect the possibility of using products originating in that country under the regional cumulation mechanism applicable to regional groupings referred to in Article 72 (3) of Commission Regulation (EC) No 2454/93 of 2 July 1993 laying down provisions for the implementation of Council Regulation (EEC) No 2913/92 establishing the Community Customs Code ( 5 ) , provided that the country has been a member of the regional grouping since the multiannual system of preferences applicable to the product concerned entered into force and is not considered to be the country of origin of the final product within the meaning of Article 72a of Regulation (EC) No 2454/93.
Article 3 
Under the criteria listed in Article 1, the following countries and territory shall be withdrawn from the list of countries and territories benefiting from the generalized preferences set out in Annex III to Regulations (EC) No 3281/94 and (EC) No 1256/96: — Hong Kong, — Singapore, — South Korea.
Article 4 
This Regulation shall enter into force on 1 May 1998. This Regulation shall be binding in its entirety and directly applicable in all Member States. Done at Brussels, 19 December 1997. For the Council The President F. BODEN This Regulation shall be binding in its entirety and directly applicable in all Member States. Done at Brussels, 19 December 1997. For the Council The President F. BODEN For the Council The President F. BODEN