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United Nations Conference on Trade and Development: Agreement Establishing the Common Fund for Commodities*

Published online by Cambridge University Press:  04 April 2017

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Type
Treaties and Agreements
Information
International Legal Materials , Volume 19 , Issue 4 , July 1980 , pp. 896 - 937
Copyright
Copyright © American Society of International Law 1980

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Footnotes

*

[Reproduced from U.N. Document TD/IPC/C0NF/L.15 of June 26, 1980, and Corr.l of June 27, 1980.

[The Articles of Agreement for a Common Fund were adopted on June 27, 1980. On October 1, 1980, the Agreement will be opened for signature in New York. It will come into force when at least 90 countries representing two thirds of the directly contributed capital of $470 million have ratified it. The condition that 50 percent of the $280 million set as a target for voluntary contributions to the second account be met has already been achieved.

[A Preparatory Commission established by resolution of the Conference is laying the groundwork for the first meeting of the Governing Council and preparing working papers on policies, criteria and regulations to govern financing operations of the Fund, including an outline of a model Association Agreement described in Article 7.

[The idea of an integrated program for commodities was part of the Manila Declaration and Program of Action of the Group of 77 put forward at the fourth session of UNCTAD in 1976. For the text of the section on commodities see 15 I.L.M. 421 (1976).]

References

1/ All $US amounts contained in this document shall be expressed in terms of their equivalent in the Unit of Account as at the date of this Agreement.