Ministers decide to refer the following texts to
the Committee on Customs Valuation established under the Agreement
on Implementation of Article VII of GATT 1994, for adoption.
Where a developing country makes a reservation to retain officially
established minimum values within the terms of paragraph 2 of Annex
III and shows good cause, the Committee shall give the request for the
reservation sympathetic consideration.
Where a reservation is consented to, the terms and conditions
referred to in paragraph 2 of Annex III shall take full account of the
development, financial and trade needs of the developing country
A number of developing countries have a concern that problems may
exist in the valuation of imports by sole agents, sole distributors and
sole concessionaires. Under paragraph 1 of Article
20, developing country
Members have a period of delay of up to five years prior to the
application of the Agreement. In this context, developing country Members
availing themselves of this provision could use the period to conduct
appropriate studies and to take such other actions as are necessary to
2. In consideration of this, the Committee recommends that the Customs Co-operation Council assist developing country Members, in accordance with the provisions of Annex II, to formulate and conduct studies in areas identified as being of potential concern, including those relating to importations by sole agents, sole distributors and sole concessionaires.