Common agricultural policy: crediting of securities and guarantees

The draft regulation seeks to include the securities and guarantees set up when issuing export and import certificates and the tendering securities which guarantee the presentation of serious bids, in the category of securities which have to be acquired in favour of the EAGGF, and not as previously in favour of the national budgets, as provided for in Regulation (EEC) No 352/78. This measure is at the same time designed to permit the proper implementation of the commitments made by the Community under the GATT Agreement, in respect of the limitation - in quantity and value - of subsidized Community exports.