RESTRICTED

GENERAL AGREEMENT ON 1970TARIFFS AND TRADE Limited Distribution

Committee on Balance-of-Payments Original: SpanishImport Restrictions

1970 CONSULTATI0N WITH SPAIN AND EXAMINATIONOF THE SPANISH IMPORT DEPOSIT SCHEME

1Basic Document for the ConsultationI. Legaland.adminstrative bases of restrictions

2There has been no change from the situation notified last year.II.Methods used in restricting imports

Imports into Spain are effected under five different systems: free imports,global quotas. individual licensing, State trading and special régimes. A break-down of the quantities imported under each of these systems is given in Annex II tothis report. Details of the characteristics of each of these import régimes were givenin document BOP/56 of 23 March 1968. No major changes have been made in this sectorsince the last consultation, except for some adjustments in the global quotas, forwhich the annual allocations have been increased by approximately 10 per cent.

III. Treatment of imports from different sources, including informationconcerning bilateral agreements

As at 31 December 1968, Spain had bilateral agreements with sixteen countries.On 1 January 1969 the agreement with the Republic of China expired, and in May of thesame year a substantial change was made in the agreement with Yugoslavia because asfrom that date payments between the parties atre effected in convertible currency.Further in this direction, as from 6 February 1970 payments with Uruguay have beeneffected in convertible currency and the agreement is to be terminated in Augustthis year. Provision is also made in the agreement with Poland for payments to bein convertible currency as from 31 December 1971.

In addition to the foregoing, mention should be made of the special nature andthe reasons urderlying most of the bilateral agreements between Spain and othercountries. One group of agreements is with socialist countries in Eastern Europe, ofwhich only three - Yugoslavia, Czechoslovakia and Poland - are Members of GATT and ofthese only the first is a member of the International Monetary Fund. On the otherhand, account should be taken of the fact that these countries practise State tradingand Spain does not maintain diplomatic relations with them. As a result of thissituation, these are not bilateral agreements in the usual sense of the term butagreerments signed between -central banks, for the reasons already given.

Document supplied by the Spanish Government.

2See BOP/98.

BOP/108Page 2

Another group of countries comprises Uruguay, the United Arab Republic,Colombia, Paraguay, Morocco and Syria., all of which are members of the IMF butonly two of then - Uruguay and the United Arab Republic - are Members of GATT.The agreements with these countries can be termed bilateral agreements in thetrue sense; in this connexion it should be noted that the agreement withUruguay is due to expire at the end of this year.

Lastly, there are the special cases of Cuba and Mexico. While the latteris a member of the IMF, it is not a Member of GATT and because of the specialnature of its relations with Spain a special procedure has had to be applied,based on an agreement between central banks. The special case of Cuba isattributable to that country' s special economic system.

To sum up the foregoing, we may note that Spain maintains eight inter-bankagreements and seven bilateral agreements in the strict sense. Among the firsteight, only three are with GATT countries and two of them are soon due to expire.

Of the seven bilateral agreements in the strict sense, one - that with Cuba -presents special characteristics, and only three are with GATT Member countries.One of these is due to expire at the end of 1970.

Apart from the fact that the bilateral agreements are of little relativeimportence; the foregoing considerations bring out the reasons for theirexistence and the efforts which Spain is making to terminate therm. Nevertheless,account should be taken of the difficulties that always arise in completingthis process which are generally attributable to considerations of trade policyand of the difficulties of negotiating a satisfactory settlement of outstandingcredit balances, as indicated by the IMF in its report on the 1969 consultationswith Spain pursuant to Article XIV.

We have intentionally left to last the case of Equatorial Guinea. Havingregard to the particular circumstances of this country which recently attainedindependence and to the close link between its economy and Spain, which is asurvival from the time of dependency, Spain signed a bilateral agreement withthis Republic in May 1969. The reasons just given seem fully to justify thisattitude.

With the exception of Cuba and Rhodesia and to some extent Japan, theSpanish Government applies the multilateral régime to all contracting parties tothe General Agreement on Tariffs and Trade.

IV. Products or groups of products affected by the various forms ofrestrictions

In relation to the information furnished in earlier years in this respect,there has been no change and the Spanish Government has pursued its policy of notestablishing new restrictions, despite the unfavourable situation in certainsectors of the Spanish economy and the currently unfavourable situation of itstrade balance and, as a consequence, its balance of payments.

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BOP/108Page 4

5. The total suspension of duties on imports of soyabeans was extendeduntil 31 March 1970.

6. The suspension of duties has been extended in respect of imports ofcertain petro-chemical products listed in Decree No. 3277/1969 of19 December last.

7. The total suspension of customs duties on imports of unwrought aluminiumwas extended until 31 Mlarch 1970.

8. The suspension of customs duties on imports of certain hides and skillswas extended until the above-mentioned date.

9. A bilateral tariff quota has been established until 3 December 1970 forduty-free import, of 20, 000 metric tons of ethyelene (tariffheading 29. 01-A..3).

10. The duty-free tariff quotas for newsprint aid chemical pulp for themanufacture of newsprint have been extended for six months and enlarged.

11. A tariff quota exempt from the minimum specific duty fixed byDecree No. 117/1968 of 6 June, has been established for the import ofgoods falling withintariff heaadings No. 56.01-A.3, 56.02-A.3, 56.04-A.3and 56.C5-A., (acrylic fibres).

In the light of those measureswhich are clearly favorable to internationaltrade, Spain has signed a bilateral payments agreement with the Republic ofEquatorial Guinea, which recently attained independence; the reasons for thisaction can be readily understood.

In order to be able to face the strong tensions experienced by the Spanisheconomy in 1969 which became still more acute in the second half of the year, andwith a view to assuring the general equlibruim of the economic system andchecking the excessive increase in demand, the Spanish Government found it necessaryto adopt a series of measures designed to maintain the; growth rate of domesticdemand within the limit tolerable for the national economic system. Accordingly,the Government decided to establish a prior import deposit scheme, in a moderateand temporary form, accompanied by certain supplementrary internal correctivemeasures which will contribute to attainment of this objective.

By Presidential Decrce No. 3100/1919 of 6 December (Official Gazette No. 296of 11 December) , the system of prior import deposits was estanblished; its salientfeatures are as follows.

1. The deposit is applicable to all imported goods.

2. Its amount is equivalent to 20 per cent of the total transaction, payablein pesetas to the Bank of Spain.

3. The deposit bears no interest and is requird to be made before importdeclarations and applicatioris are presented; it is reimbursed if thelatter are not authorized.

BOP/108Page 5

4. In the case of import transactions which are accepted or authorized thedeposit will be released and refunded six months after the date on whichit was made; if the transaction has been authorized for an amount lessthan that requested, the corresponding proportionate refund will be made.

5. The measure is of a temporary character and is intended to remain inforce until 31 December 1970.

At internal level and in order to supplement the import deposit scheme,measures have been taken to check the expansion of demand; for example, therehave been two increases in the rate of interest, from 4.5 to 5.5 in the secondhalf of 1969, and from 5.5 to 6.50 in the first quarter of this year; stricterinstalment-purchsed terms have been introduced; the growth rate of bank credithas been reduced; and part of planned public investments have been postponed.

VII. Effects of restrictions on trade and general policy in the use of importrestrictions forbalance-of-payments reasons

The effects of the restrictive measures introduced by the Spanish Governmentin late 1967 in order to control the growth of overall demand were felt throughoutthe ensuing year, when imports increased by 1.3 per cent. Nevertheless, in 1969inflationary pressures became apparent as a result of a continuing increase inconsumption by the economy, which has progressively exerted increasing pressure onour external trade balance. As a result, the balance-of-payments deficit reachedunsuspected proportions, and at the end of the year under consideration the volumeof gold and foreign exchange reserves had fallen from $1,095 million to $853 million.

In tha light of this situation the new Government ,decided to adopt a seriesof stabilization measures, one of which - the prior deposit scheme directlyaffects foreign trade. In view of the fact, howver, that thethis measure wasintroduced, at the end of the year and that the last part of this section will bedevoted to its possible, effects, we shall for the rement leave these aside.

The spectacular increase in imports during 1969, in the vicinity of 20 percent, has tended to alleviate, the price increase and is, in addition, sufficientproof that the restrictions still applied by Spain have not adversely affectedforeign trade. At the same time, and as may be seen from Annex II, the absoluteand relative importance of liberalized trade is increasing so that the proportionof total imports covered by this regime increased from, 71.2 per cent in 1968 to73.9 per cent in 1969. Leaving aside imports authorized for temporary admissionor replacements, non-liberalized trade accounted for 23.70 per cent of totalimports accepted or authorized in 1969, as against 25.63 per cent in 1968, despitethe increases recorded in respect of the bilateral and special régimes.

While the growth and volume of imports under the bilateral régime is sub--stantial (47 per cent) its significance is lessened, as already indicated by thefact that the number of bilateral agreements has diminished. At the same time, itshould be noted that the Government is reviewing its bilateral payments policy andas a result the agreemnent with Poland was amended in 1970.

BOP/108Page 6

The increase in imports under this régime is basically attributable not onlyto the normal development of trade but also to the fact that the figures relatingto this régime included imports by the Republic of Equaborial Guinea, whichattained independence on 12 October 1968 and with which a payments agreement wassigned in the first quarter of 1969.

Attention is drawn to the remarkable increase in imports under specialrégimes, by about 300 per cent; thse imports represented 4.48 per cent of totalimports in 1969, as against 1.44 per cent in the preceding year. This does notmean, however, that the effects of the restrictions have increased because thesefigures include liberalized goods imported on special terms. Thus, inter alia,the figures relating to this type of special transaction, regardless of the traderégime applicable to the merchandise concerned, includes the following:

1. Imports in which settlement is made through the export of domesticgoods under a barter transaction authorized by the administration.

2. Imports effected as a result of the fact that Spanish undertakings havereceived capital goods of foreign origin as a direct contribution.

The first case includes trade with certain countries whose inter-trade isnot regulated by any agreement, for example, trade with certain East Europeancountries. The second case includes capital goods which, although liberalized,are recorded within this régime when they constitute direct contributions. Inthe light of these totwo factors, one can attribute the proper significance towhat might appear to be an excessive increase in imports under this régime.

The diminution in imports under the global quota régime does not reflect anyfailure by Spain to fulfil contractual obligations - the value of the quotasopened increased by 10 per cent - but rather more effective implementation of thatpolicy.

The Spanish Government has pursued a very liberal policy as regards globalquotas. In recent years it has been adapting its activities in order to fulfilthe obligations inherent in the opening of global quotas. Hence the diminutionin the value of imports authorized in 1969, without implying any diminution inthe value of quotas opened.

Nevertheless, this diminution is also attributable to a smaller volume ofapplications - the number of licenses requested fell from 35,244 in 1968 to28,401 in 1969.

It is still a little early to comment on the effects rf the prior depositscheme on Spain's imports. Having regard to the fact that this measure wasadopted at the end of 1969, its direct effects were niland did not affect theflowr of Spanish imports during the year under examination.

Nevertheless, international experience in this field shows quite perceptiblythat the objective of this measure is not so much to restrict imports as toimmobilize certain moans of payment. In Spain, at prevailing rates of interest,

BOP/108Page 7

the increase in the price of imports as result of the priordeposit is equivalentto less than 1 per cent of the value of the imports concerned, and this is insigni-ficant for a country where import propensity is high. This assertion is confirmedby experience in the first quarter of the currenrt year, during which actual importsexceeded those for the corresponding period of the preceding year, and in parti-cular those effected in April were 35 per cent above the level for the precedingyear.

The measure is simply of a monetary character; its indirect effects onimports have been very limited and have not been apparent beyond. those caseswhere the imports concerned were not based on any firm desire to carry out thetransaction or those of an essentially speculative character.

VIII. Balance of trade and payments. A brief summary of elementsand trends

The following remarks on Spain' s balance of payments in 1969 and the mostimportant elements therein are based on provisional figures which were furnishedby the Ministry of Commerce and were used in the IMF consultations underArticle XIV. Final figures have not yet been published, and those used here areof a provisional character.

(a) Genaral examination

Since 1965, the overall balance has shown a series of deficits which in thatyear and in 1967 were in the region of$150 million, and in 1966 close to$200 million. An exception from this trend occurred in 1966, when a surplus of$71 million was recorded. In 1969 however, the year to which this paper is basicallydevoted, a deficit was again recorded and was even larger than in earlier years,reaching the record level of $231 million.

The 1966 surplus was largely the result of the corrective measures which it hadbecome necessary to adopt in late 1967 in order to remedy the inflationary trendthat had emerged in the immediately preceding period and to slow the growth ofdomestic demand. Those measures were as follows: devaluation of the peseta,increase in the discount rate, changes in the regulations governing instalment salefreezing of wages and other income, and limitation of public expenditure. In 1969domnestic demand again increased appreciably, continuing a trend which had becomeapparent in the last months of the preceding year. The expansion recorded in 1969was reflected in rapid production growth, particularly in the industrial and buildingsectors, and in an 8.5 per cent increase in gross domestic expenditure, well abovethe 3 per cent increase recorded in 1968. The public sector also showed a greatertendency towards expansion in 1968. Exports continued to increase appreciably, butas imports also grew, the trade balance showed a deficit of $1,910 million. Althoughearnings from tourism, continued to increase, the overall balance of services wasbelow the level of earlier years and despite the fact that the balance of transferswas higher then in those years, the balance on current account showed a deficit of$528 million. The capital balance recorded a surplus of $297 million, but fell shortof the level for the years 1965-1968. All these factors resulted in the overalldeficit mentioned above, as shown in the balance-of-payments table on the next page

BOP/108Page 8

1969 BALANCE OF PAYMENTS

($million)

(provisional figures)

A. Goods and services

1.2.3.4.5.6.

GoodsFright and insuranceTourisrn and travelReturns on investmentsGoverement transactions )Other services )

Balnce of goods and services

B. Transfers

1. Private sector )

2. Public sector )

Balance of transfers

Current balance

1. Private2. Public

D. Short-term capital and E I 0

Balance of capitalTotal balance

E. Monetarymovements (increnise -)

GoldConvortible foreign exchange-

Total

Receipts

1,970

1,310

565

Expenditure

126

15

Balance

1910-80

1,184-162-110

-1,078

550

550

-520

51428

542

-245297

-231

1261-31

-231

I

II

I

IIi

BOP/108PIage 9

(b) Balance of goods

Since the 1967 devaluation Spain's exports have achieved a substantialincrease which continued throughout 1969. In the year under consideration totalexports were 18 per cent above the preceding year's level, reaching$1,970 million. Nevertheless, as is traditional in Spain's trade balance, importsprogressed still more rapidly and the trade deficit widened further. Thus,imports were 20 per cent above the preceding year's level, reaching $3,.880 milliona level unprecedented in Spain's foreign trade. As a result of this twofold trend,Spain's trade deficit increased by approximately $335 million, reaching a total of$1,910 million, close to the deficit recorded in 1966, the largest ever incurredby Spain.

The commodity breakdown of exports shows the efforts which Spain is makingto diversify exports. In this connexion; one should note a substantial increasein relative terms in exports of consumer and capital goods; these grew slightlyfaster than-overall exports, and as a result the relative importance of theseheadings was enhanced. Consumer goods accounted for 22.5 per cent of totalexports in 1969, as against 18.8 per cent in 1968; the relative importance ofcapital goods increased from 14.3 per cent to 16.9 per cent. This does notindicate any decline in Spaints traditional exports of agricultural products, butsimply that their growth rate was slower than that of overall exports, so thatthe relative share of agricultural exports declined from 36.4 per cent in 1968to 33.1 per cent in 1969.

As regards the destination of Spain's exports, the pattern was much thesame as in earlier years, and the EEC still remained Spain's principal customer.The EEC, the EFTA countries and the United States together took up 65 per centof Spainls overall exports, of which the EEC alone accounted for 31.4 per cent.This concentration of Spain's deliveries largely determines action by theSpanish Government in the field of commercial policy.

The strong import expansion in 1969, following slower import growth in1968, continued to gain momentum throughout the year.

The import increment was particularly appreciable in respect of semi-manufactures (38 per cent), raw materials (28 per cent) and capital goods (24 percent). This trend reflects considerable growth of industrial activity during theyear under examination.

The concentration of suppliers is score pronounced than that of countries ofdestination for exports. The EEC, the EFTA countries and the United Statestogether account for 67 per cent of Spain's imports, while the EEC alone supplied34.7 per cent of these in 1969.

The extent of coverage of imports by exports declined slightly, from45.11 per cent in 1968 to 44.8 per cent in 1969.

BOP/103Page 10

(c) Balance of services and transfers

The balance of services as a whole, with a positive balance of $832 million,fell short of the levels for 1967 and 1968 - $874 million and $866 millionrespectively. The levels for 1965 and 1966 had been still higher. Among thevarious component elements (see the breakdown for the three-year period 1967-69in the following table), only tourism and travel showed a more favourable resultin 1969 than in the two preceding years.

Thus, freight, insurance and other transport taken together showed a negativebalance of $80 million as against $60 million and $55 million in the two precedingyears. This increase in the negative balance is undoubtedly attributable toincreased freight traffic, much of which is carried on foreign ships, resultingin increasing expenditure on freight. A similar trend is recorded in respect ofreturns on investment which showed a negative balance of $162 million, substantiallyabove the level for the two preceding years. This increase is due, on the onehand, to tho larger volume of foreign capital invested in Spain, as a result ofthe continuing inflow of long-term capital and, on the other hand, to anappreciable increase in profits in 1969. A similar trend was recorded in respectof Government transactions and services, taken together, which showed a negativebalance greater than in the preceding periods.

The increase under the heading tourism and travel, from $1,111 million in1967 and 1968 to $1,184 million in 1969, was not sufficient to offset thenegative balances referred to above. Tourist traffic showed an increase in thenumber of visitors, estimated at 13 per cent, but earnings from tourism, accordingto Bank of Spain figures, increased by only 9 per cent. Although the declinein per capita expenditure had already become apparent in the preceding years,this aspect deserves more detailed examination because in general the figuresInclude only those corresponding to exchange of foreign currency, and do notinclude expenditue by tourists in Spanish currency acquired abroad, because of thedifficulty in evaluating this amount.

Although detailed figures are not available, it is estimated that thebalance of transfers showed a surplus of $550 million, $100 million above thepreceding year's level, which was mainly attributable to remittances frora Spanishworkers employed abroad. The increase in the positive balance for this headingaccounts for the fact that the total for services and transfers was above the levelfor the preceding years.

BOP/108Page 11

BALANCE OF SERVICES AND TRANSFERS

($million )

Services 1967 1968 1969

Freight and insurance

Other transport

Tourism and travel

Returns on investment

Government transactions

Other services

Transfers

-128 14968 94)

- 92 -118 1 625 -13

-80 - 59)

874 866 832450 449 550

Total services and transfers 1,324 1,315 1,382

(d) Balance of capital

The balance of long-term capital as a whole showed a positive balance of$542 million in 1969, $43 million below the 1968 level. The latter result hadincluded a strong inflow of public capital., mainly through the utilization ofInternational Bank loans and a special issue of Treasury bonds. Since theseincrease factors were not present in 1969, the burden fell on private capital which,although above the 1968 level, was not able to offset the decline in public level.

Under the heading of private long-tern capital, one may note an increase indirect investment and real estate investment, as well as in commercial credits.On the other hand, portfolio investments and Eximbank loans declined, while companyloans remained at much the same level as 1967 and 1968. The increase in directinvestments is probably due to external factors such as United States measures inrespect of capital exports, measures introduced by France, and the various monetaryand economic-political crises which occurred during the year as well as to thefact that foreign interest rates were raised above the Spanish level. It is to behoped that with the overcoming of some of these crises and the elimination ofrestrictive measures, to which we have referred, increased inflow of privatecapital may result in 1970, to reach a level above that in the year in consideration

Short-term capital movements, which in the table showing the balance of pay-ments for 1969 also include errors and omissions, showed a negative balance of$245 million, slightly below the.previous years level.

BOP/108Page 12

CAPITA L BALANCE

($milion)___t__:,aL3,l __9671968 ....9

Private capital 1967 1968 1565Direct investments

Portfolio investments

Real estate investment

Company los

Eximbank loans

Commercial credits

public capital

180 143 .150 34 1652 91 107

148 135 14060 57 5012 24 20

502 436 51433 l9 28

~ ~ _ _1- _Total 535 585 542

*Pro7sioa.1fgaros(e) ConcludinjRmaksAs already stated, the movemernts just referred to in the partial balances

which together make up the overall baTne of payments resulted in a total deficitof $231 million. Leoinn-side short-term capital movemrets and errors andomissions, we %rive at n positive result of only Cs million in thc bsic balance,. compared with '35 million in 1968.

The total deficit resulted in a decline by '62 million in gold and convertiblecurrency reserves.

The foregoing together bring out the fact that Spain's balance of payments isstill in an unstable situation in the short and medium tern because its componentelements continue to show the fluctuations to be expected of a country whose economyis in the process of development. Thus, the trade deficit continues to be ?chronicand permanent featurz certain earnings in respuctof service and transfers arevery unpredictable because they depend to a gren extent on conditions prevailingabroad, and certain capital movements are, already beginning to show adverse aspects.Having regard to this situation, at the end of 1969 the Smnish authorities adopteda series of measures desi:ed to correct or a- least diminish this disequilibriumwhich was r leetng an excessive increase in domestic demand. A prior deposit

BOP/108Page 13

on imports at the rate of 20 per cent was established, the discount rate wasraised, stricter conditions for instralment sales were introduced and, subsequently,a certain percentage of public expenditure was postponed. It is not possible atthe present time to make any comprehensive evaluation of the result of thesemeasures. One can only note that they have not yet shown any effect on imports,which continued to increase at the rate of 26 per cent in the first four monthsof 1970 over the levels for the first four-month period of last year, accordingto most recent statistics furnished by the Customs Statistical Office. In contrastwith this increase, over the same period (January-April 1970), exports increasedby only 18 per cent in comparison with the same period of last year. These figuresbring out once more the difficulties which Spain is encountering; these werealready becoming apparent last year and were referred to in the report presentedby our country to this organization a year ago. The vigorous import expansion,which is extremely difficult to reduce because much of this increase correspondsto goods required for development, is a source of great concern for the Spanishauthorities which have seen the trade deficit not only continue, but in factbecome still more pronounced year after year. It is therefore not surprising thatthe Spanish Government has not been able to continue, as it has repeatedly expressedits desire to do, on the path towards liberalization of its commercial exchangeswhich was begun in 1959 and indeed Spain has already achieved the high degree ofliberalization to which we have referred elsewhere.

ANNE

XI

Glob

alImport

Quotas

for

1969

Tariff

Amou

ntof

annual

Method

ofGoods

heading

quot

ain

pese

tas

calling

No. 1. Fruit

pres

erve

s

Miscellaneous

food

products

Soups

and

soup

preparations

Beer

Fish

.moa

l

Coki

ngcoal

Anthracite

Inor

gani

cchemical

products

11.

Orga

nic

chem

ical

prod

ucts

12.0

616

.01

16.02

20.03

20.04

20.05

ex20

.06

20.07

B

19.0

421

.07

B21

.07

C

21.0

522

.03

23.01B

ex27

.01A

27.01

B

15.1

0B

28.02

28.14A

28.15

B28

.41:

B-3

ex28.46

17.02

A-1

17.02

B-1

ex29.25H

29.4

2A

29.4

2C

29.44A

29.44B

35,000,000

35,200,000

35,2

00,0

00

7,15

0,00

0

13,2

00,0

0016,150,000

210,

540,000

192,500,000

23,6

50,0

00

55,0

00,0

00

44,000,000

Annual

Annu

al

Annu

al

Annual

Annu

alOp

enpermanently

Open

perm

anen

tly

Open

permanently

Open

perm

anen

tly

Sxmo

nthl

y

Sixmo

nthl

yT

. .

M.at

lpreserves

4 I C.

7 i. 9 10

I If I I

Quota

Goods

Tariff

Amount

ofannual

Method

ofNo.

heading

quota

inpe

seta

sca

llin

g

Varn

ishe

s,inks,

pigments

and

similar

prep

arat

ions

Perf

umer

y,to

ilet

and

cosmetic

prep

arat

ions

Surface-active

preparations,

preparations

for

lyes

,lubricating

preparations,

glues

and

misc

ella

neou

spr

oduc

tsof

the

chemical

industries,

not

liberalized

and

not

incl

uded

inether

quotas

Phen

opla

sts

and

fura

nresins

Aminoplasts

Othe

rco

nden

sati

on,

polycondensation

and

poly

addi

tion

prod

ucts

Poly

meri

zati

onstyrene

products

and

thei

rderivatives

Polyvinyl

chlo

ride

ex30.02

ex32.02

ex30.03

ex30.03

A-2

B-2

A-2

B-2

32.0

9A

ex32.09

D33.06

34.0

2B

34.0

3B

ex-35.05

ex38.07

ex38

.08

38.1

9F

38.19G

38.1

9H

ex38.19

I

39.01A

39.0

1B

39.01

Gex

39.01G

39.02

C

39.02E

110,000,000

38,50

0,00

0

22,0

00,0

00

115,500,000

49,5

00,000

33,000,000

33,000,000

16,5

00,0

0033

,000

,000

Open

permanently

Sixmo

nthl

y

Sixmo

nthl

y

Sixmonthly

Sixmonthly

Sixmonthly

Sixmo

nthl

y

Sixmonthly

Sixmo

nthl

y

12.

13.

14.

15.

16.

17.

18.

19.

20.

aceu

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anrn

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s

Good

sTa

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head

ing

Amountof

annual

quota

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s,

-~~

~~~~

~~~~

~~~~

~~~~

~~~~

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~~~~

~~~~

~~~~

~~~~

~~~~

~~~~

~~~~

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ts

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Njli

bora

izec

lwc

.di-

r.u-

res-

'scullanoos

text

ile

fibrms

Yarn

ofrscellancs

fibres

Yarn

ofcoconut

fibr

e

c39

.02A-2

39.02G-

239

.02

L0.02

Mx

39.03

A

39.0

7

44.16

+18

4309

50.0

250.03

ex57.03

57.03

57.0

357

.04

57.0

457

.04

50.04

50.05

50.0

650

.07

50.0

55.0

555

.06

57.06

57.07

A B C A-1

B-2-

aC C

60,500,000

49,500,000

14,8

50,0

00

Meth

odof

call

ing

Sixmo

nthl

y

Sixmonthly

Sixmo

nthl

y

12,1

00,0

00Si

xmo

nthl

y

18,1

50,0

00Sixmonthly

49,500,000

Sixmo

nthl

y

4- 22.

23.

24.

25.

26.

'-t

M

Quot

aGoods

Tariff

Amount

ofan

nual

Meth

odof

No.

heading

quota

inpe

seta

sca

llin

g.

..

~~~~~~~~~~~~__________I___________

Fabr

ics

jriscellaneous

fibr

es

Tull

e,la

ce,

velv

etand

knitted

good

s

Special

fabrics

Carp

ets

and

ra,

Read

y--de

clot

hing

50.09

50.10

55.0

755

O55-9

57.1

0c

574.

58.0

4E

58.8

58g9

60.01

C

59.07

59.04

59.3

x59

.13

x60.06A

58.0

358

.Q58

.03

c60.02

ex60

.03

A--2

ex60

.03B-

2c

60.0

3C

60.04

c

60.s

C

61.01A

ex61.01

D

61.01

E61.02

.A

ex61

.02

Dex

61.02

Eex

61.03A

ex61

.03C

61.04A

ex61

.04D

84,26

0,00

0

19,250,000

17,4

35,0

00

8,25

0,00

0

Six

monthly

Ox

monthly

Sixmo

nthl

y

Sixmo

nthl

y

27.

1, 29.

30.

31.

____

____

____

____

____

____

____

____

..__

____

___I

____

_-

Quota

Goods

Tariff

Amou

ntof

annu

alMethod

of

Qa

Good

st

heading

quot

ain

pesetas

call

ing

61.05

22,0I090IC3

S

i.0

5i22

.000

.000

!Sxm

onth

Il(c

ont'

d)

32.

Othe

rtextilemnufacturos

kticlosof

porc

elai

n;glassware

Jeeleryr

Iron

and

ste

containers

61.07

61.0

9!

61.10A

ex61.10

Cex

61.1

1o

62.0

1B

ex62.02

o62.04

58.0

5D

ex53

.06

ex58

.07

59.0

1ex

59.0

2ex

59.L

o59.05

c59.06

C C

o59

.12

ex59

.14

ex59

.15

x60.06

B62

.03

c62

.05

B

69.11

B69

.12

B69.13

ex70.13

B-i

71.1

2B-

271

.16

73.23

13,750,000

30,8

00,0

00

9,)0

,000

22,0

00,0

00

Sixmonthly

Sixrnthly

Sixmo

nthl

y

Sixmonthly

n,

34.

35.

Quot

aGoods

Tariff

Amou

ntof

annu

alMe

thod

ofNo

.Goods

heading

quota

inpesetas

call

ing

Stoves

(including

stoves

with

subs

idia

ryboilers

for

central

heating),

ranges,

cookers,

grates,

fire

san

dot

her

spac

ehe

ater

s,gasri

ngs,

plat

ewa

rmer

swith

burn

ers,

wash

boil

ers

with

grat

esor

othe

rheating

elem

ents

,and

similar

equipment,

ofa

kind

used

for

dome

stic

purp

oses

,no

telectrically

operated,

andparts

ther

eof,

ofiron

orsteel

Other

manu

fact

ures

ofcast

iron

orst

eel

Copp

ermanufactures

Alum

iniu

mmanufactures

Hand

tool

sfo

rindustry

Saws

and

kniv

es

Cutl

ery

and

tabl

esets

ofir

onor

steel

Mari

neengines

(not

libe

rali

zed)

andpa

rts

73.36

ex73.40

C

74.19

D74.19

E

ex76.15

76.16

B

ex82.03

82.0

4ex82

.02

ex82

.06

82.09

82.10

82.1

182

.11

C82.11

D82.11

E82

.14

84.06B-

2-b

84.06

B-2-

c84

.06B-

2-d

84.0

6C-

1ex

84.06

D-2

12,1

00,0

00

24,200,000

11,000

,000

12,0

00,0

00

60,50

0,00

0

33,0

00,0

00

22,000,000

49,50,000

Sixmo

nthl

y

Sixmo

nthl

y

Sixmo

nthl

y

Sixmonthly

Sixmo

nthl

y

Sixmonthly

Sixmo

nthl

y

Six

monthly

36.

37.

38.

39.

40.

41.

42.

43.

Goods

Othe

rmo

tors

(not

liberalized)

and

parts,

for

use

onla

nd

Motor

Pumps

andmotor

corn

pres

sors

(not

libe

rali

zed)

Refr

iger

ator

sup

to250.

litres

Dump

ers

Radi

oan

dte

levi

sion

-rec

eive

rsRadio

tran

srmi

tter

san

dtr

ansm

itte

r--

receivers

Non-liberalized

parts

for

the

manu

fact

ure

ofelectrical

apparatus,

carb

onar

ticl

esfor

cine

mapr

ejec

tion

Tractors

Part

sfo

rthe

manufacture

oftractors

__________

Tariff

heading

Amount

ofannual

quot

ain

peso

tas

______

I_

._

8/4.

o6B-

2-b

84.0

684.06

8/06

ex84

.o

B-2-

cB-

2-d

C-1

B-2

G84

.10

F-2

u84.11

D-2

ex4.

15A

87.0

2B-2

85.1

5A

85.1

5B

ex85

.15

x85.24

C

87..

01A

87.0

1B-

2

o87

.06

193,

050,

000

h700,O0

0(3

0,25

0un

its)

151950900

220,

000,

000

33,000,000

73,150,000

8"00

)00

(3,5

43un

its)

425,920,000

96,8

00,0

00

Itod

ofcalling

SixmontIy

Sixin

thly

;x

mont

hly

Sixmonthly

Sixmorhly

Sixmo

nthl

y

Opn

perr

ann

Six

ifll

Open

perm

anen

tly

4 44.

45.

4 47.

A4 49.

,.

51. 2.

Good

s

Buse

s,fi

reorgines

and

parts

and

accessories

for

the

manu

fact

ure

othe

rindustrial

vehi

cles

Parts

and

acce

ssor

ies

for

the

manu

fact

ure

ofpassenger

vehi

cles

Phonographs,

dict

apho

nes

andot

her

apparatus

for

soundrecording

and

repr

oduc

tion

Soun

drecordings

(not

liberalized),

parts

and

-ac

cess

orie

sfor

apparatus

unde

rheading

92.11

Toys,

game

sand

spor

tsre

quis

ites

Capital

equi

pmen

tfo

rnew

inve

stme

ntprojects

Tariff

heading

ex87

.02

ex87.03

ex87

.03

ex87

.04

ex87

.05

ex87

.06

A-2

B C B

ex87.04A

ex87

.05

ex87

.06

92.11

C92

.11

D92.11

E

92.1

2B-2

92.13

97.01

97.0

297

.03

97.0

497

.05

97.0

8

Sect

ions

XVIandXVII

Amount

of

annu

alqu

ota

inpe

seta

s

275,

000,

000

165,000,000

22,000,000

29,150,000

33,5

50,0

00

8,470,000

Meth

odof

calling

exce

ptparts

for

manufacture

Open

permanently

Open

perm

anen

tly

Sixmonthly

Open

perm

anen

tly

yearly

Openpe

rman

entl

y

54.

55.

57.

-__

I_-

lf Ii

ANNE

XII

lmpo

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thor

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in19

68-1

969

Traderegime Globalquotas Free

import Temporaryadmissions.__i U_:lns.u:

.bc.r

of1i

ccmc

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Mza5borof's

a~n

d{c~ranll

1968

1969

3>C2

2u";-9

7/27

,79o 22:4

ZE>4

0

550,56

2550,152

93,1l

1i4,

679

600

2,39

3,293

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1C7

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Valu

c(2,

196%1f

1969

%o

2O

total

1699

tota

l19

9,72

23

5.4

292,

093

6.93

52,607

1.44

188,

979

84.4

37S73

89.1i'

261,

296

6.19

2,3.,159

71.82

3118

,147

73.97

3562,

9298.

525

7,14

96

.10

2889,6

0.79

22,9

340

.55

65,498

1.76

75,1

961.

78

83,3 ,63431,

.0000

4,.21

5,7910

0.400

>e:Informaci=nComericalEspaiola.WeeklybulletinNo/1,189of15January1970.yl=ii .:..rci21Dspcioh.^,,klyLuildin1o.1819oi15

January19:700