WORLD TRADE WT/REG23/2
19November 1996
ORGANIZATION(96-4912)
Committee onRegional Trade Agreements
FREE TRADE AGREEMENT BETWEEN THE GOVERNMENT OFICELAND
AND THE FAROE ISLANDS (GOVERNMENT OFDENMARK)
Terms ofReference fortheExamination
Terms ofReference adopted on29January 1996
"Toexamine, inthelightoftherelevant provisions oftheGATT 1994, theAgreement between
theGovernment ofDenmark andtheHome Government oftheFaroe Islands, ontheonepart,
andtheGovernment ofIceland, ontheother part,andtosubmit areport totheCouncil for
Trade inGoods."
Understanding readoutbytheChairman oftheCouncil forTrade inGoods
atitsmeeting of29January 1996
Itisunderstood thatthestatement readoutbytheChairman oftheCouncil forTrade inGoods
underitem7oftheAgendaofitsmeetingon20February1995,andcontainedindocumentWT/REG3/1,
applies mutatis mutandis tothisworking party. Itisalsounderstood that,during theexamination,
dueaccount willbetaken oftheintrinsic differences between customs unions andfree-trade areas.