WORLD TRADE
ORGANIZATIONWT/BOP/R/67
19 November 2002
(02-6407)
REPORT (2002) OF THE COMMITTEE ON
BALANCE-OF-PAYMENTS RESTRICTIONS
1. This report has been prepared pursuant to the Procedures for an Annual Overview of WTO
Activities and for Reporting under WTO (WT/L/105).
2. At its first meeting on 27 February 2002, the Committee welcomed the new Chairperson,
Ambassador Anda Cristina Filip (Romania).
3. The Committee was informed that the Government of Pakistan had completed its phase-out
plan ahead of schedule.1
4. The Committee met with the Government of Bangladesh in February and again in October to
conclude its consultations under Article XVIII:B. The Committee approved the maintenance of import
restrictions for balance-of-payments purposes under Article XVIII:B on four additional products until
2009.2  Members recognized the unique circumstances of Bangladesh's least-developed country status
and the continuing balance-of-payments difficulties it faced.  Members recalled the conclusions
agreed on 15 December 2000 (WT/BOP/R/57) with regard to Bangladesh's maintenance of importrestrictions for balance-of-payments purposes, and welcomed the fact that Bangladesh had already
begun the removal of these restrictions under the agreed timetable.
5. The Committee met in February, April, June, October and November to undertake work on
outstanding implementation issues in accordance with paragraph 12(b) of the Doha Ministerial
Declaration.
3  The Committee agreed that it should address tiret 14 (of Job (01)/152/Rev.1 and part of
tiret 3.5   A Note by the Secretariat on "Reserve Adequacy", prepared at the request of the Committee
to facilitate discussion, was circulated.6  The Committee agreed on 18 November to submit its report
to the Trade Negotiations Committee.
6. The Committee also conducted, on 18 November, the first annual review under the TRM in
accordance with China's protocol of Accession.
__________
                                                     
1 WT/BOP/N/59.
2 WT/BOP/R/60; WT/BOP/R/64.
3 WT/BOP/R/61, WT/BOP/R/62, WT/BOP/R63, and WT/BOP/R/65.
4 Only the Committee on Balance-of-Payments Restrictions shall have the authority to examine the
overall justification of balance-of-payments measures.
5 A complete review of Article XVIII shall be undertaken with a view to ensuring that it subserves the
original objective of facilitating the progressive development of economies in developing countries and to allowthem to implement programmes and policies of economic development designed to raise the general standard ofliving of their people.
6 WT/BOP/W/21.