Wto Agreement Part Ix

3. No Party shall impose significant penalties for minor breaches of customs or procedural rules. In particular, no penalty for an omission or error in customs documents, which are easily correctable and are manifestly committed without intent or gross negligence, may be higher than necessary to serve solely as a reminder. (b) In the case of import restrictions involving the establishment of quotas, the Party applying the restrictions shall publicly inform of the quantity or total value of the product(s) that may be imported in a given future period and of any change in that quantity or value. Deliveries of the product in question which were en route at the time of the public announcement shall not be excluded from importation; Provided that they can be counted as far as possible on the quantity that may be imported during the period concerned and, if necessary, on the quantities that may be imported during subsequent periods; and provided further that, for a period of thirty days from the date of this public announcement, a Party is deemed to be fully consistent with this paragraph if, for a period of thirty days from the date of this public announcement, it normally exempts from such restrictions products that are transferred to the tax service for consumption through the tax service through the tax service through the tax service. 5. Where, under this Article, a general imbalance indicating a general imbalance restricting international trade remains under this Article, the PARTIES shall enter into discussions to determine whether further measures could be taken either by Parties whose balance of payments is under pressure or by those whose balance of payments tends to be exceptionally favourable; or through an appropriate intergovernmental organization to address the underlying causes of the imbalance. At the invitation of the CONTRACTING PARTIES, the Contracting Parties shall participate in these deliberations. 1.

Prohibitions or restrictions other than customs duties, taxes or charges, whether or not they take effect through quotas, import or export licences or other measures, may be imposed by a Contracting Party on the importation of a product from the territory of another Contracting Party or on the export or sale for export of products destined for the territory of another Contracting Party: introduced or maintained. 5. There shall be a Council for Trade in Goods, a Council for Trade in Services and a Council for Trade-Related Aspects of Intellectual Property Rights (hereinafter referred to as the TRIPS Council), which shall operate under the general direction of the General Council. The Council for Trade in Goods oversees the operation of the multilateral trade agreements set out in Annex 1A. The Council for Trade in Services monitors the operation of the General Agreement on Trade in Services (hereinafter referred to as “GATS”). The TRIPS Council monitors the operation of the Agreement on Trade-Related Aspects of Intellectual Property Rights (hereinafter referred to as the “TRIPS Agreement”). These Councils carried out the tasks entrusted to them by their respective agreements and by the General Council. .