Common use of Safeguard Measures Clause in Contracts

Safeguard Measures. 1. Each Party which is a WTO member retains its rights and obligations under Article XIX of GATT 1994 and the WTO Agreement on Safeguards. Actions taken pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards shall not be subject to the Agreement on Dispute Settlement Mechanism under the Framework Agreement. 2. With regard to ASEAN-Korea FTA safeguard measures, a Party shall have the right to initiate such a measure on a good within the transition period for that good. The transition period for a good shall begin from the date of entry into force of this Agreement and end seven (7) years from the date of completion of tariff reduction/elimination for that good. 3. Subject to the following paragraphs of this Article, a Party shall be free to take ASEAN-Korea FTA safeguard measures if as an effect of the obligations incurred by the Party under this Agreement, including tariff concessions, or, if as a result of unforeseen developments and of the effects of the obligations incurred by the Party, a good is being imported from the other Parties to which tariff concession was made for that good in such increased quantities, absolute or relative to domestic production, and under such conditions so as to substantially cause or threaten to cause serious injury to the domestic industry of the importing Party that produces like or directly competitive goods in its territory. 4. If an ASEAN-Korea FTA safeguard measure is taken, a Party taking such a measure may: (a) suspend the further reduction of any rate of tariff provided for under this Agreement for the good; or (b) increase the tariff rate on the good concerned to a level not to exceed the lesser of: (i) the applied MFN tariff rate on the good in effect at the time the action is taken; and (ii) the applied MFN tariff rate on the good in effect on the day immediately preceding the date of entry into force of this Agreement. 5. Any ASEAN-Korea FTA safeguard measure may be maintained for an initial period of up to three (3) years and may be extended for a period not exceeding one year if it is determined pursuant to the procedures referred to in paragraph 6 that the measure continues to be necessary to prevent or remedy serious injury and to facilitate adjustment and that there is evidence that the domestic industry is adjusting. Notwithstanding the duration of an ASEAN- Korea FTA safeguard measure on the good, such a measure shall terminate at the end of the transition period for that good. 6. In applying ASEAN-Korea FTA safeguard measures, the Parties shall adopt the rules for the application of safeguard measures, including provisional measures, as provided under the WTO Agreement on Safeguards, with the exception of the quantitative restriction measures set out in Article 5, and Articles 9, 13, and 14 of the WTO Agreement on Safeguards. As such, all other provisions of the WTO Agreement on Safeguards shall, mutatis mutandis, be incorporated into and form an integral part of this Agreement. 7. An ASEAN-Korea FTA safeguard measure shall not be applied against a good originating in the territory of a Party, so long as its share of imports of the good concerned in the importing Party does not exceed 3% of the total imports from the Parties. 8. In seeking compensation under Article 8 of the WTO Agreement on Safeguards for an ASEAN-Korea FTA safeguard measure, the Parties concerned shall seek the good offices of the Implementing Committee to determine the substantially equivalent level of concessions to that existing under this Agreement between the Party taking the safeguard measure and the exporting Parties which would be affected by such a measure prior to any suspension of equivalent concessions. Any proceedings arising from such good offices shall be completed within ninety (90) days from the date on which the ASEAN-Korea FTA safeguard measure was applied. 9. On a Party’s termination of an ASEAN-Korea FTA safeguard measure on a good, the tariff rate for that good shall be the rate that, according to that Party’s tariff reduction and elimination programme as provided in Annexes 1 and 2, would have been in effect but for the measure. 10. Notwithstanding the provisions of this Article, no Party may impose an ASEAN-Korea FTA safeguard measure on a good to which actions are being applied pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards. When a Party intends to apply, pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards, an action on a good to which ASEAN-Korea FTA safeguard measure is being applied, it shall terminate the ASEAN-Korea FTA safeguard measure prior to the imposition of the action to be applied pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards. 11. All official communications and documentations exchanged among the Parties and to the Implementing Committee relating to any ASEAN-Korea FTA safeguard measures shall be in writing and shall be in the English language.

Appears in 4 contracts

Samples: Trade Agreement, Trade Agreement, Trade Agreement

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Safeguard Measures. 1. Each Party which is a WTO member retains its rights and obligations under Article XIX of GATT 1994 and the WTO Agreement on Safeguards. Actions taken pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards shall not be subject to the Agreement on Dispute Settlement Mechanism under the Framework Agreement. 2. With regard to ASEANKorea-Korea ASEAN FTA safeguard measures, a Party shall have the right to initiate such a measure on a good within the transition period for that good. The transition period for a good shall begin from the date of entry into force of this Agreement and end seven (7) years from the date of completion of tariff reduction/elimination for that good. 3. Subject to the following paragraphs of this Article, a Party shall be free to take ASEANKorea-Korea ASEAN FTA safeguard measures if as an effect of the obligations incurred by the Party under this Agreement, including tariff concessions, or, if as a result of unforeseen developments and of the effects of the obligations incurred by the Party, a good is being imported from the other Parties to which tariff concession was made for that good in such increased quantities, absolute or relative to domestic production, and under such conditions so as to substantially cause or threaten to cause serious injury to the domestic industry of the importing Party that produces like or directly competitive goods in its territory. 4. If an ASEANa Korea-Korea ASEAN FTA safeguard measure is taken, a Party taking such a measure may: (a) suspend the further reduction of any rate of tariff provided for under this Agreement for the good; or (b) increase the tariff rate on the good concerned to a level not to exceed the lesser of: (i) the applied MFN tariff rate on the good in effect at the time the action is taken; and (ii) the applied MFN tariff rate on the good in effect on the day immediately preceding the date of entry into force of this Agreement. 5. Any ASEANKorea-Korea ASEAN FTA safeguard measure may be maintained for an initial period of up to three (3) years and may be extended for a period not exceeding one year if it is determined pursuant to the procedures referred to in paragraph 6 that the measure continues to be necessary to prevent or remedy serious injury and to facilitate adjustment and that there is evidence that the domestic industry is adjusting. Notwithstanding the duration of an ASEAN- Korea a Korea-ASEAN FTA safeguard measure on the good, such a measure shall terminate at the end of the transition period for that good. 6. In applying ASEANKorea-Korea ASEAN FTA safeguard measures, the Parties shall adopt the rules for the application of safeguard measures, including provisional measures, as provided under the WTO Agreement on Safeguards, with the exception of the quantitative restriction measures set out in Article 5, and Articles 9, 13, and 14 of the WTO Agreement on Safeguards. As such, all other provisions of the WTO Agreement on Safeguards shall, mutatis mutandis, be incorporated into and form an integral part of this Agreement. 7. An ASEANA Korea-Korea ASEAN FTA safeguard measure shall not be applied against a good originating in the territory of a Party, so long as its share of imports of the good concerned in the importing Party does not exceed 3% of the total imports from the Parties. 8. In seeking compensation under Article 8 of the WTO Agreement on Safeguards for an ASEANa Korea-Korea ASEAN FTA safeguard measure, the Parties concerned shall seek the good offices of the Implementing Committee to determine the substantially equivalent level of concessions to that existing under this Agreement between the Party taking the safeguard measure and the exporting Parties which would be affected by such a measure prior to any suspension of equivalent concessions. Any proceedings arising from such good offices shall be completed within ninety (90) days from the date on which the ASEANKorea-Korea ASEAN FTA safeguard measure was applied. 9. On a Party’s termination of an ASEANa Korea-Korea ASEAN FTA safeguard measure on a good, the tariff rate for that good shall be the rate that, according to that Party’s tariff reduction and elimination programme as provided in Annexes 1 and 2, would have been in effect but for the measure. 10. Notwithstanding the provisions of this Article, no Party may impose an ASEAN-Korea Korea- ASEAN FTA safeguard measure on a good to which actions are being applied pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards. When a Party intends to apply, pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards, an action on a good to which ASEANKorea-Korea ASEAN FTA safeguard measure is being applied, it shall terminate the ASEANKorea-Korea ASEAN FTA safeguard measure prior to the imposition of the action to be applied pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards. 11. All official communications and documentations exchanged among the Parties and to the Implementing Committee relating to any ASEANKorea-Korea ASEAN FTA safeguard measures shall be in writing and shall be in the English language.

Appears in 2 contracts

Samples: Asean Korea Free Trade Agreement, Framework Agreement

Safeguard Measures. 1. Each Party which is a WTO member retains its rights and obligations under Article XIX of GATT 1994 and the WTO Agreement on Safeguards. Actions taken pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards shall not be subject to the Agreement on Dispute Settlement Mechanism under the Framework Agreement. 2. With regard to ASEAN-Korea FTA safeguard measures, a Party shall have the right to initiate such a measure on a good within the transition period for that good. The transition period for a good shall begin from the date of entry into force of this Agreement and end seven (7) years from the date of completion of tariff reduction/elimination for that good. 3. Subject to the following paragraphs of this Article, a Party shall be free to take ASEAN-Korea FTA safeguard measures if as an effect of the obligations incurred by the Party under this Agreement, including tariff concessions, or, if as a result of unforeseen developments and of the effects of the obligations incurred by the Party, a good is being imported from the other Parties to which tariff concession was made for that good in such increased quantities, absolute or relative to domestic production, and under such conditions so as to substantially cause or threaten to cause serious injury to the domestic industry of the importing Party that produces like or directly competitive goods in its territory. 4. If an ASEAN-Korea FTA safeguard measure is taken, a Party taking such a measure may: (a) : suspend the further reduction of any rate of tariff provided for under this Agreement for the good; or (b) or increase the tariff rate on the good concerned to a level not to exceed the lesser of: (i) : the applied MFN tariff rate on the good in effect at the time the action is taken; and (ii) and the applied MFN tariff rate on the good in effect on the day immediately preceding the date of entry into force of this Agreement. 5. Any ASEAN-Korea FTA safeguard measure may be maintained for an initial period of up to three (3) years and may be extended for a period not exceeding one year if it is determined pursuant to the procedures referred to in paragraph 6 that the measure continues to be necessary to prevent or remedy serious injury and to facilitate adjustment and that there is evidence that the domestic industry is adjusting. Notwithstanding the duration of an ASEAN- ASEAN-Korea FTA safeguard measure on the good, such a measure shall terminate at the end of the transition period for that good. 6. In applying ASEAN-Korea FTA safeguard measures, the Parties shall adopt the rules for the application of safeguard measures, including provisional measures, as provided under the WTO Agreement on Safeguards, with the exception of the quantitative restriction measures set out in Article 5, and Articles 9, 13, and 14 of the WTO Agreement on Safeguards. As such, all other provisions of the WTO Agreement on Safeguards shall, mutatis mutandis, be incorporated into and form an integral part of this Agreement. 7. An ASEAN-Korea FTA safeguard measure shall not be applied against a good originating in the territory of a Party, so long as its share of imports of the good concerned in the importing Party does not exceed 3% of the total imports from the Parties. 8. In seeking compensation under Article 8 of the WTO Agreement on Safeguards for an ASEAN-Korea FTA safeguard measure, the Parties concerned shall seek the good offices of the Implementing Committee to determine the substantially equivalent level of concessions to that existing under this Agreement between the Party taking the safeguard measure and the exporting Parties which would be affected by such a measure prior to any suspension of equivalent concessions. Any proceedings arising from such good offices shall be completed within ninety (90) days from the date on which the ASEAN-Korea FTA safeguard measure was applied. 9. On a Party’s termination of an ASEAN-Korea FTA safeguard measure on a good, the tariff rate for that good shall be the rate that, according to that Party’s tariff reduction and elimination programme as provided in Annexes 1 and 2, would have been in effect but for the measure. 10. Notwithstanding the provisions of this Article, no Party may impose an ASEAN-Korea FTA safeguard measure on a good to which actions are being applied pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards. When a Party intends to apply, pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards, an action on a good to which ASEAN-Korea FTA safeguard measure is being applied, it shall terminate the ASEAN-Korea FTA safeguard measure prior to the imposition of the action to be applied pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards. 11. All official communications and documentations exchanged among the Parties and to the Implementing Committee relating to any ASEAN-Korea FTA safeguard measures shall be in writing and shall be in the English language.

Appears in 2 contracts

Samples: Trade Agreement, Trade Agreement

Safeguard Measures. 1. Each Party which is a WTO member retains its rights and obligations under Article XIX of GATT 1994 and the WTO Agreement on Safeguards. Actions taken pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards shall not be subject to the Agreement on Dispute Settlement Mechanism under the Framework Agreement. 2. With regard to ASEANKorea-Korea ASEAN FTA safeguard measures, a Party shall have the right to initiate such a measure on a good within the transition period for that good. The transition period for a good shall begin from the date of entry into force of this Agreement and end seven (7) years from the date of completion of tariff reduction/elimination for that good. 3. Subject to the following paragraphs of this Article, a Party shall be free to take ASEANKorea-Korea ASEAN FTA safeguard measures if as an effect of the obligations incurred by the Party under this Agreement, including tariff concessions, or, if as a result of unforeseen developments and of the effects of the obligations incurred by the Party, a good is being imported from the other Parties to which tariff concession was made for that good in such increased quantities, absolute or relative to domestic production, and under such conditions so as to substantially cause or threaten to cause serious injury to the domestic industry of the importing Party that produces like or directly competitive goods in its territory. 4. If an ASEANa Korea-Korea ASEAN FTA safeguard measure is taken, a Party taking such a measure may: (a) suspend the further reduction of any rate of tariff provided for under this Agreement for the good; or (b) increase the tariff rate on the good concerned to a level not to exceed the lesser of: (i) the applied MFN tariff rate on the good in effect at the time the action is taken; and (ii) the applied MFN tariff rate on the good in effect on the day immediately preceding the date of entry into force of this Agreement. 5. Any ASEANKorea-Korea ASEAN FTA safeguard measure may be maintained for an initial period of up to three (3) years and may be extended for a period not exceeding one year if it is determined pursuant to the procedures referred to in paragraph 6 that the measure continues to be necessary to prevent or remedy serious injury and to facilitate adjustment and that there is evidence that the domestic industry is adjusting. Notwithstanding the duration of an ASEAN- Korea a Korea-ASEAN FTA safeguard measure on the good, such a measure shall terminate at the end of the transition period for that good. 6. In applying ASEANKorea-Korea ASEAN FTA safeguard measures, the Parties shall adopt the rules for the application of safeguard measures, including provisional measures, as provided under the WTO Agreement on Safeguards, with the exception of the quantitative restriction measures set out in Article 5, and Articles 9, 13, and 14 of the WTO Agreement on Safeguards. As such, all other provisions of the WTO Agreement on Safeguards shall, mutatis mutandis, be incorporated into and form an integral part of this Agreement. 7. An ASEANA Korea-Korea ASEAN FTA safeguard measure shall not be applied against a good originating in the territory of a Party, so long as its share of imports of the good concerned in the importing Party does not exceed 3% of the total imports from the Parties. 8. In seeking compensation under Article 8 of the WTO Agreement on Safeguards for an ASEANa Korea-Korea ASEAN FTA safeguard measure, the Parties concerned shall seek the good offices of the Implementing Committee to determine the substantially equivalent level of concessions to that existing under this Agreement between the Party taking the safeguard measure and the exporting Parties which would be affected by such a measure prior to any suspension of equivalent concessions. Any proceedings arising from such good offices shall be completed within ninety (90) days from the date on which the ASEAN-Korea Korea- ASEAN FTA safeguard measure was applied. 9. On a Party’s termination of an ASEANa Korea-Korea ASEAN FTA safeguard measure on a good, the tariff rate for that good shall be the rate that, according to that Party’s tariff reduction and elimination programme as provided in Annexes 1 and 2, would have been in effect but for the measure. 10. Notwithstanding the provisions of this Article, no Party may impose an ASEAN-Korea Korea- ASEAN FTA safeguard measure on a good to which actions are being applied pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards. When a Party intends to apply, pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards, an action on a good to which ASEANKorea-Korea ASEAN FTA safeguard measure is being applied, it shall terminate the ASEANKorea-Korea ASEAN FTA safeguard measure prior to the imposition of the action to be applied pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards. 11. All official communications and documentations exchanged among the Parties and to the Implementing Committee relating to any ASEANKorea-Korea ASEAN FTA safeguard measures shall be in writing and shall be in the English language.

Appears in 2 contracts

Samples: Trade Agreement, Trade Agreement

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Safeguard Measures. 1. Each Party which is a WTO member retains its rights and obligations under Article XIX of GATT 1994 and the WTO Agreement on Safeguards. Actions taken pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards shall not be subject to the Agreement on Dispute Settlement Mechanism under the Framework Agreement. 2. With regard to ASEAN-Korea FTA safeguard measures, a Party shall have the right to initiate such a measure on a good within the transition period for that good. The transition period for a good shall begin from the date of entry into force of this Agreement and end seven (7) years from the date of completion of tariff reduction/elimination for that good. 3. Subject to the following paragraphs of this Article, a Party shall be free to take ASEAN-Korea FTA safeguard measures if as an effect of the obligations incurred by the Party under this Agreement, including tariff concessions, or, if as a result of unforeseen developments and of the effects of the obligations incurred by the Party, a good is being imported from the other Parties to which tariff concession was made for that good in such increased quantities, absolute or relative to domestic production, and under such conditions so as to substantially cause or threaten to cause serious injury to the domestic industry of the importing Party that produces like or directly competitive goods in its territory. 4. If an ASEAN-Korea FTA safeguard measure is taken, a Party taking such a measure may: (a) suspend the further reduction of any rate of tariff provided for under this Agreement for the good; or (b) increase the tariff rate on the good concerned to a level not to exceed the lesser of: (i) the applied MFN tariff rate on the good in effect at the time the action is taken; and (ii) the applied MFN tariff rate on the good in effect on the day immediately preceding the date of entry into force of this Agreement. 5. Any ASEAN-Korea FTA safeguard measure may be maintained for an initial period of up to three (3) years and may be extended for a period not exceeding one year if it is determined pursuant to the procedures referred to in paragraph 6 that the measure continues to be necessary to prevent or remedy serious injury and to facilitate adjustment and that there is evidence that the domestic industry is adjusting. Notwithstanding the duration of an ASEAN- Korea FTA safeguard measure on the good, such a measure shall terminate at the end of the transition period for that good. 6. In applying ASEAN-Korea FTA safeguard measures, the Parties shall adopt the rules for the application of safeguard measures, including provisional measures, as provided under the WTO Agreement on Safeguards, with the exception of the quantitative restriction measures set out in Article 5, and Articles 9, 13, and 14 of the WTO Agreement on Safeguards. As such, all other provisions of the WTO Agreement on Safeguards shall, mutatis mutandis, be incorporated into and form an integral part of this Agreement. 7. An ASEAN-Korea FTA safeguard measure shall not be applied against a good originating in the territory of a Party, so long as its share of imports of the good concerned in the importing Party does not exceed 3% of the total imports from the Parties. 8. In seeking compensation under Article 8 of the WTO Agreement on Safeguards for an ASEAN-Korea FTA safeguard measure, the Parties concerned shall seek the good offices of the Implementing Committee to determine the substantially equivalent level of concessions to that existing under this Agreement between the Party taking the safeguard measure and the exporting Parties which would be affected by such a measure prior to any suspension of equivalent concessions. Any proceedings arising from such good offices shall be completed within ninety (90) days from the date on which the ASEAN-Korea FTA safeguard measure was applied. 9. On a Party’s termination of an ASEAN-Korea FTA safeguard measure on a good, the tariff rate for that good shall be the rate that, according to that Party’s tariff reduction and elimination programme as provided in Annexes 1 and 2, would have been in effect but for the measure. 10. Notwithstanding the provisions of this Article, no Party may impose an ASEAN-Korea FTA safeguard measure on a good to which actions are being applied pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards. When a Party intends to apply, pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards, an action on a good to which ASEAN-Korea FTA safeguard measure is being applied, it shall terminate the ASEAN-Korea FTA safeguard measure prior to the imposition of the action to be applied pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards. 11. All official communications and documentations exchanged among the Parties and to the Implementing Committee relating to any ASEAN-Korea FTA safeguard measures shall be in writing and shall be in the English language.

Appears in 1 contract

Samples: Trade Agreement

Safeguard Measures. 1. Each Party Party, which is a WTO member member, retains its rights and obligations under Article XIX of the GATT 1994 and the WTO Agreement on Safeguards. Actions taken pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards shall not be subject to the Agreement on Dispute Settlement Mechanism under the Framework Agreement. 2. With regard to ASEAN-Korea FTA ACFTA safeguard measures, a Party shall have the right to initiate such a measure on a good product within the transition period for that goodproduct. The transition period for a good product shall begin from the date of entry into force of this Agreement and end seven (7) five years from the date of completion of tariff reductionelimination/elimination reduction for that goodproduct. 3. Subject to the following paragraphs of this Article, a A Party shall be free to take ASEAN-Korea FTA ACFTA safeguard measures if as an effect of the obligations incurred by the Party under this Agreementthat Party, including tariff concessionsconcessions under the Early Harvest Programme of the Framework Agreement or this Agreement, or, if as a result of unforeseen developments and of the effects of the obligations incurred by the that Party, a good is being imported including tariff concessions under the Early Harvest Programme of the Framework Agreement or this Agreement, imports of any particular product from the other Parties to which tariff concession was made for that good increase in such increased quantities, absolute or relative to domestic production, and under such conditions so as to substantially cause or threaten to cause serious injury to the domestic industry of the importing Party that produces like or directly competitive goods in its territoryproducts. 4. If an ASEAN-Korea FTA ACFTA safeguard measure is taken, a Party taking such a measure may: (a) suspend the further reduction of any rate of tariff provided for under this Agreement for the good; or (b) may increase the tariff rate on applicable to the good product concerned to a level not to exceed the lesser of: (i) the applied WTO MFN tariff rate on the good in effect applied to such product at the time when the action measure is taken; and (ii) the applied MFN tariff rate on the good in effect on the day immediately preceding the date of entry into force of this Agreement. 5. Any ASEAN-Korea FTA ACFTA safeguard measure may be maintained for an initial period of up to three (3) 3 years and may be extended for a period not exceeding one year if it is determined pursuant to the procedures referred to in paragraph 6 that the measure continues to be necessary to prevent or remedy serious injury and to facilitate adjustment and that there is evidence that the domestic industry is adjusting1 year. Notwithstanding the duration of an ASEAN- Korea FTA ACFTA safeguard measure on the gooda product, such a measure shall terminate at the end of the transition period for that goodproduct. 6. In applying ASEAN-Korea FTA ACFTA safeguard measures, the Parties shall adopt the rules for the application of safeguard measures, including provisional measures, measures as provided under the WTO Agreement on Safeguards, with the exception of the quantitative restriction measures set out in Article 5, and Articles 9, 13, 13 and 14 of the WTO Agreement on Safeguards. As such, all other provisions of the WTO Agreement on Safeguards shall, mutatis mutandis, be incorporated into and form an integral part of this Agreement. 7. An ASEAN-Korea FTA ACFTA safeguard measure shall not be applied against a good product originating in the territory of a Party, so long as its share of imports of the good product concerned in the importing Party does not exceed 3% of the total imports from the Parties. 8. In seeking compensation under Article 8 of the WTO Agreement on Safeguards for an ASEAN-Korea FTA ACFTA safeguard measure, the Parties concerned shall seek the good offices of the Implementing Committee body referred to in paragraph 12 to determine the substantially equivalent level of concessions to that existing under this Agreement between the Party taking the safeguard measure and the exporting Parties which would be affected by such a measure prior to any suspension of equivalent concessions. Any proceedings arising from such good offices shall be completed within ninety (90) 90 days from the date on which the ASEAN-Korea FTA ACFTA safeguard measure was applied. 9. On a Party’s termination of an ASEAN-Korea FTA ACFTA safeguard measure on a goodproduct, the tariff rate for that good product shall be the rate that, according to that Party’s tariff reduction and elimination programme schedule, as provided in Annexes Annex 1 and 2Annex 2 of this Agreement, would have been in effect but for commencing on 1 January of the measureyear in which the safeguard measure is terminated. 10. Notwithstanding the provisions of this Article, no Party may impose an ASEAN-Korea FTA safeguard measure on a good to which actions are being applied pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards. When a Party intends to apply, pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards, an action on a good to which ASEAN-Korea FTA safeguard measure is being applied, it shall terminate the ASEAN-Korea FTA safeguard measure prior to the imposition of the action to be applied pursuant to Article XIX of GATT 1994 and the WTO Agreement on Safeguards. 11. All official communications and documentations exchanged among the Parties and to the Implementing Committee body referred to in paragraph 12 relating to any ASEAN-Korea FTA ACFTA safeguard measures shall be in writing and shall be in the English language. 11. When applying ACFTA safeguard measures, a Party shall not have simultaneous recourse to the WTO safeguard measures referred to in paragraph 1. 12. For the purpose of this Article, any reference to “Council for Trade in Goods” or the “Committee on Safeguards” in the incorporated provisions of the WTO Agreement on Safeguards shall, pending the establishment of a permanent body under paragraph 1 of Article 16, refer to the AEM-MOFCOM, or the SEOM-MOFCOM, as appropriate, which shall be replaced by the permanent body once it is established.

Appears in 1 contract

Samples: Trade Agreement

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