Wto Legal Texts Marrakesh Agreement

(d) CONTRACTING PARTIES require, at the request of a contracting party who applies restrictions under this section, that they be able to find that the restrictions are inconsistent with the provisions of this article or Article XIII (subject to Article XIV) and that they affect their exchanges. However, such a request is only made if contractING PARTIES have found that direct discussions between the parties concerned have not been successful. If there is no agreement as a result of the consultations with contractING PARTIES and if it finds that the restrictions are contrary to these provisions and that they cause or threaten harm to the trade of the party setting up the procedure, they recommend termination or modification of the restrictions. If the restrictions are not lifted or amended within the time limit prescribed by contractING PARTIES, they may exempt the party challenging the proceedings from these obligations to the party applying the restrictions they deem appropriate in the current circumstances. 2. In all cases where contracting PARTIES are invited to examine or address problems related to foreign exchange reserves, balances of payments or exchange agreements, they consult fully with the International Monetary Fund. During these consultations, contractING PARTIES accept all statistical findings and other data presented by the Fund with respect to currencies, foreign exchange reserves and balances of payments and accept the Fund`s determination of the compliance of a party`s trade activities with the articles of the International Monetary Fund agreement. , or under a special exchange agreement between that party and contractING PARTIES. CONTRACTING PARTIES, when deciding on their final decision when the criteria set out in Article XII, paragraph 2, point a), or Article XVIII, paragraph 9, apply, accept the Fund`s determination of what constitutes a significant decrease in the foreign exchange reserve assets of the contracting parties, a very low level of its foreign exchange reserve assets or a reasonable increase in its reserve assets. , and with respect to the financial aspects of other inconsistencies in such cases. 4. The dispute resolution procedures of the agreement can only be used if the members concerned have made specific commitments or commitments and if dispute resolution procedures have been exhausted under bilateral or multilateral agreements or agreements.

3. Paragraph 1 applies between a member and another member who has joined under Article XII only if the member who does not accept the application has informed the Ministerial Conference of the terms of membership before the agreement is approved by the Ministerial Conference.

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