WORLD TRADE WT/REG21/2
20November 1996
ORGANIZATION(96-4908)
Committee onRegional Trade Agreements
AGREEMENT BETWEEN THE EUROPEAN COMMUNITY
AND THE FAROE ISLANDS (GOVERNMENT OFDENMARK)
Terms ofReference fortheExamination
Terms ofReference adopted on1December 1995
"Toexamine, inlightoftherelevant provisions oftheGATT 1994, theAgreement between
theEuropean Community ontheonepartandtheGovernment ofDenmark andtheHome
Government oftheFaroe Islands ontheother partandtosubmit areport totheCouncil for
Trade inGoods."
Understanding readoutbytheChairman oftheCouncil forTrade inGoods
atitsmeeting of1December 1995
Itisunderstood thatthestatement readoutbytheChairman oftheCouncil forTrade inGoods
under item7oftheAgenda ofitsmeeting on20February 1995, ascontained indocument WT/REG3/1,
applies mutatis mutandis tothisworking party. Itisalsounderstood that,during theexamination,
dueaccount willbetaken oftheintrinsic differences between customs unions andfree-trade areas.