AGREEMENT in the form of an Exchange of Letters complementing the Agreement between the European Economic Community and the Argentine Republic on the conclusion of negotiations under Article XXIV.6 of GATT

A. Letter from the Community

Sir,

I have the honour to refer to recent consultations between representatives of the European Community and the Argentine Republic pertaining to the 1986 accession of Portugal and Spain to the European Economic Community and to the agreement between the Argentine Republic and the European Economic Community on the conclusion of negotiations under Article XXIV.6 of GATT, dated 20 October 1987, together with its Annexes.

In connection therewith, I wish to confirm the agreement reached between the European Community and the Argentine Republic to extend until 31 December 1991 all of those rights and obligations in the Agreement which would otherwise expire on 31 December 1990. This extension shall be without prejudice to the continuation in force of those rights and obligations in the Agreement which do not expire on 31 December 1990.

In particular, the European Community and the Argentine Republic have agreed, inter alia, that:

(i) the commitment in paragraph II.B (1) of the Agreement to ensure a minimum annual level of imports of corn and sorghum into Spain until 31 December 1990, in accordance with the procedures set forth in Annex II to the Agreement, shall be extended until 31 December 1991; and

(ii) this extension of the agreement is without prejudice to the legal interpretations of Article XXIV of either party.

The European Community and the Argentine Republic further agree to resume the review referred to in paragraph III of the Agreement not later than during June 1991 in order to achieve a final and mutually satisfactory understanding prior to 30 September 1991.

I have the further honour to propose that if this understanding is shared by your government, this letter and your affirmative letter in reply shall constitute an agreement between the European Community and the Government of the Argentine Republic which shall enter into force on the date of your reply.

Please accept, Sir, the assurance of my highest consideration.

On behalf of

the Council of the European Communities

B. Letter from the Argentine Republic

Sir,

I have the honour to acknowledge receipt of your letter of today's date, which reads as follows:

'I have the honour to refer to recent consultations between representatives of the European Community and the Argentine Republic pertaining to the 1986 accession of Portugal and Spain to the European Economic Community and to the agreement between the Argentine Republic and the European Economic Community on the conclusion of negotiations under Article XXIV.6 of GATT, dated 20 October 1987, together with its Annexes.

In connection therewith, I wish to confirm the agreement reached between the European Community and the Argentine Republic to extend until 31 December 1991 all of those rights and obligations in the Agreement which would otherwise expire on 31 December 1990. This extension shall be without prejudice to the continuation in force of those rights and obligations in the Agreement which do not expire on 31 December 1990.

In particular, the European Community and the Argentine Republic have agreed, inter alia, that:

(i) the commitment in paragraph II.B (1) of the Agreement to ensure a minimum annual level of imports of corn and sorghum into Spain until 31 December 1990, in accordance with the procedures set forth in Annex II to the Agreement, shall be extended until 31 December 1991; and

(ii) this extension of the agreement is without prejudice to the legal interpretations of Article XXIV of either party.

The European Community and the Argentine Republic further agree to resume the review referred to in paragraph III of the Agreement not later than during June 1991 in order to achieve a final and mutually satisfactory understanding prior to 30 September 1991.

I have the further honour to propose that if this understanding is shared by your government, this letter and your affirmative letter in reply shall constitute an agreement between the European Community and the Government of the Argentine Republic which shall enter into force on the date of your reply.'

I have the further honour to confirm that my government agrees to the foregoing and that your letter and this letter in reply constitute an agreement between the European Community and the Government of the Argentine Republic which shall enter into force on this date.

Please accept, Sir, the assurance of my highest consideration.

For

the Government of the Argentine Republic

Information concerning the signature of the agreement in the form of an Exchange of Letters complementing the Agreement between the European Economic Community and the Republic of Argentina on the conclusion of negotiations under Article XXIV.6 of GATT

The agreement between the Community and Argentina on the conclusion of negotiations under Article XXIV.6 of the GATT was signed in Brussels on 25 September 1991 by Mr. R. Moeller on behalf of the Council of the Community and by Mr. D. R. Guelar for the Government of the Republic of Argentina.