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Date: 27-May-2024 Category: Not Applicable State: Union Government Country: Europe

Notice concerning the date of entry into force of the Agreement in the form of an Exchange of Letters between the European Union and the Argentine Republic amending the Agreement in the form of an Exchange of Letters between the European Union and the Argentine Republic pursuant to Article XXVIII of the General Agreement on Tariffs and Trade (GATT) 1994 relating to the modification of concessions on all the tariff-rate quotas included in the EU schedule CLXXV as a consequence of the United Kingdom’s withdrawal from the European Union

Issued by Council of the European Union · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • The notice announces the entry into force of the agreement between the European Union and the Argentine Republic, which amends a previous agreement concerning tariff-rate quotas. This amendment is a consequence of the United Kingdom's withdrawal from the European Union and its effect on the EU's schedule of concessions under the General Agreement on Tariffs and Trade (GATT) 1994.

Key Changes

  • The agreement, signed on December 4, 2023, entered into force on April 26, 2024.
  • The agreement modifies concessions on tariff-rate quotas included in the EU schedule CLXXV.
  • The modification is a direct result of the United Kingdom's withdrawal from the European Union.

Impact Analysis

Stakeholders: European Union

  • Action Items: EU trade authorities need to ensure that the updated tariff-rate quotas are correctly implemented and monitored.

Stakeholders: Argentine Republic

  • Action Items: Argentine exporters and trade officials need to understand the revised tariff-rate quotas and adjust their export strategies accordingly.

Stakeholders: Businesses involved in EU-Argentina Trade

  • Action Items: Businesses should review the details of the amended agreement to understand the new tariff rates and quotas, and update their financial forecasts and supply chain strategies.

Stakeholders: United Kingdom

  • Action Items: Monitor the EU-Argentina trade relationship and assess any potential impacts on UK trade. Explore opportunities for independent trade agreements with Argentina.

Key Entities Referenced

European Union: One of the parties to the agreement, responsible for trade policy and implementation within its member states. Argentine Republic: One of the parties to the agreement, responsible for trade policy and implementation within its borders. General Agreement on Tariffs and Trade (GATT) 1994: An international agreement governing trade relations between countries. EU schedule CLXXV: The specific schedule of concessions related to tariff-rate quotas that is being modified by the agreement. United Kingdom: The withdrawal of the United Kingdom from the European Union necessitated the modification of the tariff-rate quotas.
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Official Journal EN of the European Union L series 2024/1512 27.5.2024 Notice concerning the date of entry into force of the Agreement in the form of an Exchange of Letters between the European Union and the Argentine Republic amending the Agreement in the form of an Exchange of Letters between the European Union and the Argentine Republic pursuant to Article XXVIII of the General Agreement on Tariffs and Trade (GATT) 1994 relating to the modification of concessions on all the tariff-rate quotas included in the EU schedule CLXXV as a consequence of the United Kingdom’s withdrawal from the European Union The Agreement in the form of an Exchange of Letters between the European Union and the Argentine Republic amending the Agreement in the form of an Exchange of Letters between the European Union and the Argentine Republic pursuant to Article XXVIII of the General Agreement on Tariffs and Trade (GATT) 1994 relating to the modification of concessions on all the tariff-rate quotas included in the EU schedule CLXXV as a consequence of the United Kingdom’s withdrawal from the European Union (1), signed at Geneva on 4 December 2023, entered into force on 26 April 2024. (1) The text of the Agreement is published in OJ L, 2024/1326, 17.5.2024, ELI: http://data.europa.eu/eli/agree_internation/2024/1326/oj. ELI: http://data.europa.eu/eli/opin/2024/1512/oj 1/1

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