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THIRD ADDITIONAL PROTOCOL

to the Agreement between the European Economic Community and the State of Israel

THE EUROPEAN ECONOMIC COMMUNITY,

of the one part, and

THE STATE OF ISRAEL,

of the other part,

HAVING REGARD to Article 22 (2) of the Agreement between the European Economic Community and the State of Israel,

ANXIOUS to ensure the harmonious development of their trade and in particular to take measures which could help to reduce the State of Israel's trade deficit with the Community,

WHEREAS the State of Israel should have the option, for a further period of two years, of taking the protective measures essential to its industrialization and development, under the conditions laid down in Article 3 of Protocol 2 to the Agreement, as amended by the Second Additional Protocol to the Agreement signed on 18 March 1981;

WHEREAS there should be a two-year delay in implementing the prohibition contained in Article 30 of Protocol 3 to the Agreement, as amended by Decision No 1/83 of the EEC-Israel Cooperation Council, on drawback or remission of any kind being granted in respect of customs duties on non-originating products used in the manufacture of originating products, so that this rule does not have economic consequences damaging to preferential trade,

HAVE DECIDED TO CONCLUDE THIS PROTOCOL:

Article 1

The table in Article 1 (2) of Protocol 2 to the Agreement is hereby replaced by the following:

1.2 // 'Timetable // Rate of reduction // - from 1 July 1977 // 5 % // - from 1 July 1978 // 20 % // - from 1 July 1981 // 30 % // - from 1 January 1983 // 50 % // - from 1 January 1987 // 80 % // - from 1 January 1989 // 100 %'.

Article 2

In Article 3 (1) of Protocol 2 to the Agreement, '31 December 1985' is hereby replaced by '31 December 1987'.

Article 3

In Article 30 of Protocol 3 to the Agreement, paragraph 1 is hereby replaced by the following:

'1. As from 1 January 1988 no drawback or remission of any kind may be granted from customs duties in the Community or in Israel in respect of products referred to in Article 1 of Protocols 1 and 2 and used in manufacture which do not originate in the Community or Israel.' Article 4

This Protocol shall form an integral part of the Agreement.

Article 5

This Protocol is drawn up in duplicate in the Danish, Dutch, English, French, German, Greek, Italian and Hebrew languages, each text being fully authentic.

This Protocol shall be approved by the Contracting Parties in accordance with their own procedures.

It shall enter into force on the first day of the first month following the date on which the Contracting Parties notify each other that the necessary procedures have been carried out.