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GENERAL TREATY ON CENTRAL AMERICAN
ECONOMIC INTEGRATION BETWEEN
GUATEMALA, EL SALVADOR, HONDURAS AND NICARAGUA.
Chapter III: Export Subsidies and Unfair Trade Practices
Article IX
The Governments of the Signatory States shall not grant customs
exemptions or reductions in respect of imports from outside
Central America of articles adequately produced in the
Contracting States.
If a Signatory State deems itself to be affected by the granting
of customs import franchises or by government imports not
intended for the use of the Government itself or of its agencies,
it may submit the matter to the Executive Council for its
consideration and ruling.
Article X
The Central Banks of the Signatory States shall co-operate
closely in order to prevent any currency speculation that might
affect the rates of exchange and to maintain the convertibility
of the currencies of the respective countries on a basis which,
in normal conditions, shall guarantee the freedom, uniformity
and stability of exchange.
Any Signatory State which establishes quantitative restrictions
on international monetary transfers shall adopt whatever
measures are necessary to ensure that such restrictions do
not discriminate against the other States.
Should serious balance-or-payments difficulties arise which
affect, or are apt to affect, monetary relations in respect of
payments between the Signatory States, the Executive Council,
acting of its own accord or at the request of one of the
Parties, shall immediately study the problem in co-operation
with the Central Banks for the purpose of recommending to the
Signatory States a satisfactory solution compatible with the
maintenance of the multilateral free-trade regime.
Article XI
No Signatory State shall grant any direct or indirect subsidy
favouring the export of goods intended for the territory of
the other States, or establish or maintain any system resulting
in the sale of such goods for export to any other Contracting
State at a price lower than that established for the sale of
similar goods on the domestic market, due allowance being made
for differences in the conditions and terms of sale and
taxation and for any other factors affecting price comparability.
Any measure involving the fixing of, or discrimination in,
prices in a signatory State which is reflected in the
establishment of sales prices for specific goods in the other
Contracting States at levels lower than those that would result
from the normal operation of the market in the exporting country
shall be deemed to constitute an indirect export subsidy.
If the importation of goods processed in a Contracting State
with raw materials purchased under conditions of monopoly at
artificially low prices should threaten existing production in
another Signatory State, the Party which considers itself
affected shall submit the matter to the consideration of the
Executive Council for a ruling as to whether unfair business
practice is in fact involved. The Executive Council shall, within
five days of the receipt of the request, either give its
ruling or authorize a temporary suspension of free trade,
while permitting trade to be carried on subject to the award of a
guaranty in the amount of the customs duties. This suspension
shall be effective for thirty days, within which period the
Executive Council shall announce its final decision. If no ruling
is forthcoming within the five days stipulated, the Party
concerned may demand a guaranty pending the
Executive Council's final decision.
However, tax exemptions of a general nature granted by a
Signatory State with a view to encouraging production shall
not to be deemed to constitute export subsidies.
Similarly, any exemption from internal taxes levied in the
exporting State on the production, sale or consumption of goods
exported to the territory of another State shall not be deemed to
constitute an export subsidy. The differentials resulting from
the sale of foreign currency on the free market at a rate of
exchange higher than the official rate shall not normally be
deemed to be an export subsidy; if one of the Contracting
States is in doubt, however, the matter shall be submitted to
the Executive Council for its consideration and opinion.
Article XII
As a means of precluding a practice which would be inconsistent
with the purposes of this Treaty, each Signatory State shall
employ all the legal means at its disposal to prevent the
export of goods from its territory to the territories of the
other States at a price lower than their normal value, if
such export would prejudice or be liable to prejudice the
production of the other States or retard the establishment of
a national or Central American industry.
Goods shall be deemed to be exported at a price lower than
their normal value if their export price is less than:
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