WORLD TRADE
ORGANIZATIONWT/BOP/R/59
11 October 2001
(01-4899)
REPORT (2001) OF THE COMMITTEE ON
BALANCE-OF-PAYMENTS RESTRICTIONS
1. This report has been prepared in pursuance of the Procedures for an Annual Overview of
WTO Activities and for Reporting under WTO (WT/L/105).
2. The Committee resumed consultations with Bangladesh, suspended on 5 May 2000, on
15 December 2000.  The Chairman recalled that the purpose of the continued consultations was to
consider a plan by Bangladesh to phase-out the measures notified under Article XV III:B.   Members
commended the efforts made by Bangladesh in submitting the phase-out plan which they considered a
step forward.  The representative of Bangladesh confirmed that the lists of products included in
Annexes II and III of WT/BOP/N/54 covered the tota lity of products in respect of which Bangladesh
currently maintains balance-of-payments measures.  The Committee approved the phase out plan
presented by Bangladesh in Annex III of WT/BOP/N/54 and Corrigendum 1 in the period startingfrom 1 January 2002 and ending 1 January 2005, when all items in the respective HS categories
would be liberalized.   The Committee agreed to come back to discuss Annex II for which Bangladesh
will seek other justification under WTO provisions. On this understanding, it was agreed to resume in
June 2001.
1
3. In May, Tunisia submitted a notification with respect to the completion of the final stage of its
phase out program.2
4. In accordance with the General Council decision of 9 February (WT/GC/M/63), the new
Chairman of the Committee on Balance-of-Payments Restrictions, Ambassador
Hernando José Gómez of Colombia, assumed his duties on 1 April 2001.3
5. The Committee resumed consultations with Bangladesh, suspended on 15 December 2000, on
24 July 2001.  The meeting was chaired by the incoming Chairman,  Ambassador Hernando Gómez
(Colombia).   The Chairman recalled that the purpose of the resumed consultation was to discuss theitems listed in Annex II of WT/BOP/N/54 for wh ich Bangladesh would seek other justification.
Members welcomed the detailed report by the representative of Bangladesh, but expressed some
disappointment that the matter had not yet been settled.  The representative of Bangladesh explained
that the statements made to the Committee in December had been preliminary and the internal
discussions had not yet been completed; however, the study of the options available to Bangladeshwould be completed soon.  Given the existence, currently, of a caretaker Government and elections
expected in early October, the representative explained that he would come back to the Committee in
November with a definitive plan. Members expressed support for this request and the Committee
agreed to resume in November at which time  Bangladesh would communicate the option it had
chosen.  On this basis, the Committee agreed to suspend.
4
__________
                                                     
1 WT/BOP/R/57, 23 January 2001.
2 WT/BOP/N/58, 22 May 2001.
3 WT/BOP/INF/8, 30 March 2001.
4 WT/BOP/R/58, 13 September 2001.