Nothing in this Chapter shall be construed as disentitling a disadvantaged country, region or sector, being the beneficiary of any other technical assistance programme, from simultaneously benefiting from technical assistance pursuant to the provisions herein set forth.
- There is hereby established a Development Fund for the purpose of providing financial or technical assistance to disadvantaged countries, regions and sectors.
- Subject to the provisions of this Article and relevant provisions of this Treaty, the Community Council, in collaboration with COFAP, shall:
(a) determine the status, composition and functions of the Development Fund; (b) determine the contributions of the Member States to the Development Fund.
- The Development Fund may accept subventions from public or private sector entities of the Member States or from other entities external to the Community. Subventions shall not be accepted nor applied by the Development Fund on conditions which discriminate against Member States, regions or sectors except in accordance with the provisions of this Treaty.
- As soon as practicable after the entry into force of this Treaty, the Community Council shall, in collaboration with other competent Organs of the Community, make adequate arrangements to extend to disadvantaged countries, regions and sectors such technical and financial assistance as may be required to allow them to participate effectively in the CSME and to administer international trade agreements.
- Pursuant to paragraph 1 of this Article, COTED shall evaluate the need for technical and financial assistance to disadvantaged countries, regions and sectors, and promote and facilitate appropriate programmes and projects. Such assistance may include:
(a) grants or access to low-cost financing;
(b) preparation of project proposals for financing;
(c) performance guarantees and other guarantees to enterprises;
(d) accessing technology including information technology;
(e) product design or quality enhancement;
(f) factory design and market development.
- Technical assistance within the meaning of this Article may also include:
(a) assistance to establish or upgrade national standardising bodies;
(b) assistance to countries to advance their diversification programmes;
(c) professional assistance in meeting obligations under trade-related agreements;
(d) assistance to establish institutions or centres for the training or retraining of employees as the case may require;
(e) provision of relevant expertise to formulate a legal policy framework conducive to fair trading and fair competition;
(f) professional expertise in espousing and defending claims arising in connection with the WTO Agreement and other trade-related agreements;
(g) professional assistance in preparing for disputes resolution arising in connection with trade-related agreements;
(h) professional assistance in preparing legislation.
- The evaluation mentioned in paragraph 2 of this Article may be undertaken by COTED on its own initiative, or in response to an application for assistance issuing from a Member State.
- COTED shall, from time to time, examine the impact of the measures mentioned in paragraph 2 with a view to determining their adequacy and establishing a time-frame for their discontinuance.
COTED shall to the extent necessary and for a a period to be determined, apply the provisions of the Special Regime for the less developed countries to Highly-Indebted Poor Countries.
Notwithstanding any provisions to the contrary in this Treaty, Guyana shall be allowed, for as long as it continues to benefit from wheat imports under PL 480 Agreements with the United States of America, to impose quantitative restrictions on the importation of wheat flour.
- COTED shall promote the establishment of infrastructure in a disadvantaged country, region or sector to encourage or stimulate economic activity.
- COTED may also adopt measures for the establishment of new industries or for the retooling or expansion of existing industries in a disadvantaged country, region or sector.
- The Member States undertake to provide opportunities for access to their technological and research facilities by nationals of disadvantaged countries.
- COTED shall encourage close collaboration between research institutions and facilities located in disadvantaged countries with others located in other Member States.
Notwithstanding any provisions to the contrary in this Treaty, disadvantaged countries may, with the prior approval of COTED, maintain, in respect of public undertakings, measures, the effect of which is to afford support to domestic production where such measures are in the form of:
(a) a duty or charge having equivalent effect; or
(b) quantitative restrictions
- COTED may authorise a Member State having a sensitive industry which can be disadvantaged by the operation of the CSME to suspend Community treatment to products of other Member States.
- The suspension authorised in paragraph 1 of this Article shall be granted upon application to COTED in that behalf where the applicant establishes that the product is from a sensitive industry.
- For the purpose of this Article, an industry may be considered to be sensitive by reason of its vulnerable nature and:
(a) the significance of its contribution to, inter alia:
(i) Gross Domestic Product;
(iii) foreign exchange earnings; or
(b) its designation as vital within the national industrial policy.
- Notwithstanding any other provisions of this Treaty, a disadvantaged country may, for the period of suspension decided upon by COTED, suspend Community treatment in respect of imports of like description from the Member State granted the suspension.
- COTED, in authorising the suspension mentioned in paragraph 1 of this Article may impose terms and conditions for the grant of the suspension.
- COTED shall monitor the progress of the industry concerned and undertake a periodic review.
- Where, in accordance with paragraph 1 of Article 92, a disadvantaged country establishes an entitlement to limit imports of goods from other Member States, then, notwithstanding any other provisions to the contrary in this Treaty, the disadvantaged country may limit such imports for a period of up to three (3) years unless COTED authorises the limitation for a longer period and take such other measures as COTED may authorise.
- A disadvantaged country applying restrictions in accordance with paragraph 1 of this Article shall notify them to COTED, if possible, before they come into force. COTED may, at any time, consider those restrictions and shall, in light of such consideration, make recommendations designed to moderate any damaging effect of such restrictions or to assist the disadvantaged country to overcome its difficulties.
- Nothing in this Treaty shall be construed as entitling any Member State to apply safeguard measures against the products of Community origin of a disadvantaged country where such products do not exceed 20 per cent of the market of the importing Member State.
- COTED shall take appropriate measures to ensure that, in establishing the programme for the removal of restrictions by the Member States on the right of establishment in the Community mentioned in paragraph 3 of Article 33, the peculiar economic vulnerability of disadvantaged countries in the Community is taken into account, bearing in mind Article 49.
- Without prejudice to the generality of the provisions of paragraph 1 of this Article, COTED shall, in establishing the said programme, determine in respect of disadvantaged countries:
(a) a list of economic activities in respect of which national treatment may not be accorded to persons exercising the right of establishment for a specified period of time;
(b) the manner in which restrictions on the right of establishment in respect of economic activities not mentioned in sub-paragraph
(a) of this paragraph shall be removed:
Provided that such disadvantaged countries shall accord to the Member States rights of establishment no more restrictive than those accorded to third States.
- COTED, in establishing the programme for removal of restrictions by Member States on the provision of services in the Community mentioned in paragraph 2 of Article 37 shall give due consideration to the peculiar economic vulnerability of disadvantaged countries, bearing in mind Article 49.
- Without prejudice to the generality of the provisions set out in paragraph 1 of this Article, COTED shall, in establishing the said programme, determine in respect of disadvantaged countries:
(a) a list of services in respect of which national treatment may not be applied for a specified period of time;
(b) the manner in which restrictions on services not mentioned in sub-paragraph
(a) of this paragraph shall be removed:
Provided that such disadvantaged countries shall accord the Member States rights no more restrictive than those accorded to other parties of the WTO under the General Agreement on Trade in Services (GATS).
COFAP shall promote investment in disadvantaged countries by, inter alia, facilitating:
(a) the establishment of joint ventures among nationals of disadvantaged countries as well as between nationals of disadvantaged countries and nationals of other Member States;
(b) the establishment of joint ventures between nationals of disadvantaged countries and nationals of third countries;
(c) investment for economic diversification including diversification of the agricultural sector;
(d) research, development and the transfer of technology in the development of disadvantaged countries; and
(e) capital flows from other Member States to disadvantaged countries through the conclusion of double taxation agreements and appropriate policy instruments.
- The Member States agree that where economic dislocation arising from the operation of the CSME occurs, and notwithstanding any provisions to the contrary in this Treaty, COTED may, as the case may require on a temporary basis and subject to Article 144, adopt effective measures to arrest or mitigate adverse effects on economic activity. Such measures may include the grant of incentives to address the dislocation and shall be without prejudice to any incentives provided for in Articles 52 and 69.
- Notwithstanding any provisions to the contrary in this Treaty, the measures mentioned in this Article may, where necessary, provide for temporary derogations from rights and obligations set out in the Treaty.
- COTED shall periodically examine the impact of the measures mentioned in paragraph 2 with a view to determining their adequacy and establishing a time-frame for their discontinuance.
- The Member States shall co-operate with the Community Organs in implementing the measures mentioned in paragraph 2 of this Article and shall take the action required to secure compliance therewith.