HJ=:GBA:PBY H;T?>BG?GGUOG:PBC WDHGHFBQ?KDBC BKHPB:EVGUCKH<?L E Distr. GENERAL TRADE/2004/20 1 March 2004 RUSSIAN Original: ENGLISH ?<JHI?CKD:Y WDHGHFBQ?KD:Y DHFBKKBY DHFBL?LIHJ:A<BLBXLHJ=H<EBIJHFURE?GGHKLBB IJ?>IJBGBF:L?EVKL<: <hkvfZyk_kkbybfZy]h^Z Imgdlij_^\Zjbl_evghcih\_kldb^gy >HDE:>HJ:;HQ?FKH<?S:GBBG:L?FMJ:KRBJ?GB??K J?=MEYLB<G:Y DHG<?J=?GPBY <G?IJBKH?>BGYXSBOKY D ?K KLJ:G:O 7-ghy[jy]h^Z:nbgu=j_pby >HDMF?GL>EYBGNHJF:PBB AZibkdZk_dj_lZjbZlZ : <\_^_gb_ 1. 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GZJZ[hq_fkh\_sZgbb\uklmibebihkhe>bfbljbkDhglmfZk]_g_jZevguc ^bj_dlhjih_\jhi_ckdbf^_eZffbgbkl_jkl\hbghkljZgguo^_e=j_pbb]-g ?\Zg]_ehk <Zj^ZdZk^bj_dlhj>bj_dlhjZlZG?^bgucjughdghjfZlb\gh-j_]meypbhggZykj_^Z klZg^ZjlbaZpbybgh\ucih^oh^=_g_jZevguc^bj_dlhjZlihij_^ijbgbfZl_evkl\m ?\jhi_ckdhcdhfbkkbb;jxkk_evijhn_kkhjDhgklZglbgKl_nZgmkfimgdl ijhn_kkhj>Zfv_gG_\_g<ukrbcbgklblmlf_`^mgZjh^guobkke_^h\Zgbc@_g_\kdbc mgb\_jkbl_lR\_cpZjbyijhn_kkhjYgbkIZiZ^himehkNZdmevl_liheblbq_kdbogZmd EhaZgkdh]hmgb\_jkbl_lZR\_cpZjbyijhn_kkhjLb[hjIZeZgdZb;m^Zi_rlkdbc mgb\_jkbl_lwdhghfbdbIj_^k_^Zl_ev<_g]_jkdhcZkkhpbZpbbbkke_^h\Zl_e_cijh[e_f ?\jhi_ckdh]hkhh[s_kl\Z;m^Zi_rl<_g]jbyijhn_kkhj@Zg-Deh^=hljhg Mgb\_jkbl_lFhgl_kdv_;hj^h,9NjZgpby^-jOjbklhk=hjlkhk]_g_jZevguc TRADE/2004/20 page 3 k_dj_lZjv;Zgdh\kdhcZkkhpbZpbb=j_pbb:nbgu=j_pby^-j:e_dkZg^jKiZqbk kh\_lgbdihnbgZgkh\ufmqj_`^_gbyfbijhp_kkmjZkrbj_gby=_g_jZevguc^bj_dlhjZl ih\gmlj_gg_fmjugdm?\jhi_ckdhcdhfbkkbb;jxkk_ev]-`ZEb[xkJhfZgh\kdZ >hdeZ^qbdJZ[hq_c]jmiiuihiheblbd_\h[eZklbl_ogbq_kdh]hkh]eZkh\Zgbyb klZg^ZjlbaZpbb?WDHHGihkhe>_gqh=_hj]b_\Ihklhyggucij_^klZ\bl_ev;he]Zjbb ijb<k_fbjghclhj]h\hchj]ZgbaZpbb@_g_\ZR\_cpZjby]-g<heh^bfbjR_\q_gdh jmdh\h^bl_ev>_iZjlZf_glZ^\mklhjhggbowdhghfbq_kdbohlghr_gbcfbgbkl_jkl\Z wdhghfbdbb_\jhi_ckdhcbgl_]jZpbbMdjZbguDb_\MdjZbgZ^-jAhjZg;hoZp_d mijZ\eyxsbc^bj_dlhj;Zgdh\kdhcZkkhpbZpbbOhj\ZlbbAZ]j_[Ohj\Zlbyb^-j ?e_gZ DZex`gh\Z^bj_dlhjP_gljZ_\jh-ZabZlkdbobkke_^h\ZgbcJ_^bg]kdbcmgb\_jkbl_l Kh_^bg_ggh_Dhjhe_\kl\h 7. Hldju\ZyJZ[hq__kh\_sZgb_Bkihegbl_evguck_dj_lZjv?WDHHG]-`Z;jb]blZ Rfz]g_jh\Zh[jZlbeZhkh[h_\gbfZgb_gZijb\_j`_gghklv?WDHHGb^__kfy]q_gby ihke_^kl\bcjZkrbj_gby?K\j_]bhg_bm[_`^_gghklv?WDHHG\lhfqlhijbgylb_b ijbf_g_gb_\k_fbkljZgZfbf_`^mgZjh^guoklZg^Zjlh\bf__lhkgh\hiheZ]Zxs__ agZq_gb_^eyh[_ki_q_gbydhgdmj_glhkihkh[ghklbboijh^mdpbbgZf_`^mgZjh^guo jugdZoHgZmdZaZeZqlhijhp_kkj_]meylb\ghcdhg\_j]_gpbby\ey_lky^bgZfbqgufb dhg_qgh`_g_mklhcqb\ufijhp_kkhfh^gZdhqj_af_jgh]hj_]mebjh\Zgbyke_^m_l ba[_]ZlvIjb\h^y\dZq_kl\_ijbf_jZh^bgbaih^oh^h\dj_r_gbxijh[e_fu g_mklhcqb\hklbhgZ^ZeZihykg_gby\hlghr_gbbJ_dhf_g^Zpbb?WDHHGL" hlghkbl_evghiheblbdb\h[eZklbklZg^ZjlbaZpbbBkihegbl_evguck_dj_lZjvh[jZlbeZ \gbfZgb_gZlmjhevdhlhjmx?WDHHG[m^_lb]jZlv\?\jhi_ihke___jZkrbj_gby hibjZykvgZk\hcrbjhdhijbagZgguchiuljZajZ[hldbghjfklZg^Zjlh\dhg\_gpbcb ^jm]bof_jghjfZlb\gh]hj_]mebjh\Zgby\jZaebqguoh[eZklyo]^_hgZfh]eZ[u hdZau\Zlvihfhsvg_ijbkh_^bgyxsbfkykljZgZfki_j_oh^ghcwdhghfbdhc 8. <uklmiZyihihjmq_gbx?\jhi_ckdh]hdhfbkkZjZihij_^ijbgbfZl_evkl\m bgnhjfZpbhgghfmh[s_kl\mbk[eb`_gbxaZdhgh^Zl_evkl\Z]-g<Zj^ZdZkjZatykgbedZd g_ijbkh_^bgyxsb_kykljZgufh]eb[ubkihevah\Zlv\dZq_kl\_ijbf_jZlhlhiul dhlhjucgh\uoijbkh_^bgyxsbokykljZggZdhibeb\ijhp_kk_k[eb`_gbyk\hbo klZg^Zjlh\kijZ\h\hckbkl_fhc?KHgjZkkdZaZeh[bgbpbZlb\Zo?Kih\aZbfghfm hldjulbxjugdh\f_`^m?KbKG=bf_`^m?KbaZiZ^gh[ZedZgkdbfbkljZgZfbWlb bgbpbZlb\uij_^mkfZljb\Zxldhg\_j]_gpbxf_jghjfZlb\gh]hmj_]mebjh\Zgby\ [m^ms_fHgkhh[sbeqlhm`_gZqZlui_j_]h\hjukhkljZgZfbKG=ihih\h^m ijbf_g_gbyijZ\h\h]hhiulZ?K\h[eZklblhj]h\eb=-g<Zj^ZdZkih^q_jdgmeagZq_gb_ kh]eZr_gbch\aZbfghfijbagZgbbZlZd`_\Z`ghklvijbf_g_gbyg_ijbkh_^bgyxsbfbky kljZgZfbf_`^mgZjh^guoklZg^Zjlh\ TRADE/2004/20 page 4 < =hjbahglZevgu_Zki_dluj_]meylb\ghcdhg\_j]_gpbb 9. <h\j_fyi_j\h]haZk_^Zgbyihk\ys_ggh]hl_f_=hjbahglZevgu_Zki_dlu j_]meylb\ghcdhg\_j]_gpbbmqZklgbdbjZkkfhlj_ebg_kdhevdhf_`k_dlhjZevguo ijh[e_fk\yaZgguokj_]meylb\ghcdhg\_j]_gpb_cgZijbf_j\hijhkhijZ\hijbf_g_gbb dhgdmj_glgh]haZdhgh^Zl_evkl\ZbghjfZlb\gh-j_]meypbhgghckj_^_g_h[oh^bfhc^ey ijb\e_q_gbyIBB;uebih^jh[ghh[tykg_gup_ebbkj_^kl\Z^hklb`_gbyj_]meylb\ghc dhg\_j]_gpbbbijb\_^_gudhgdj_lgu_ijbf_ju^h[jh\hevghcihem^h[jh\hevghcb h[yaZl_evghcdhg\_j]_gpbb;uehih^gylhg_kdhevdh\hijhkh\ihih\h^mlh]hdZd memqrblvghjfZlb\gh-j_]meypbhggmxkj_^mkl_fqlh[umkljZgblv\ g_ijbkh_^bgyxsbokykljZgZoijZdlbdmg_aZkem`_ggh]hij_^hklZ\e_gbyev]hl;ueh hlf_q_ghqlhmf_gvr_gbxfZkrlZ[h\wlhcijZdlbdbZlZd`_dhjjmipbbfh]ml kihkh[kl\h\Zlvijhklu_ykgu_bljZgkiZj_glgu_klZg^ZjlubghjfuH^gZdhh^h[j_gby lZdboj_]meylb\guof_jg_^hklZlhqghhq_gv\Z`ghijbf_gylvbogZijZdlbd_ 10. MqZklgbdbijbagZebqlhgZk\hbokh[kl\_gguobwdkihjlguojugdZo g_ijbkh_^bgyxsb_kykljZguklhedgmlkyk[he__`_kldbfdhgdmj_glguf^Z\e_gb_fkh klhjhgujZkrbj_ggh]h?KIhwlhfm\wlbokljZgZodhgdmj_gpbxg_h[oh^bfhmemqrZlv bihhsjylvDhgdmj_gpbyfh`_llZd`_klZlvihe_agufbgkljmf_glhfklbfmebjh\Zgby \gmlj_ggbojugdh\\wlbokljZgZoqlhhdZ`_l\p_ehfiheh`bl_evgh_\ha^_ckl\b_gZbo wdhghfbdmBkdexqbl_evgh\Z`ghc[ueZijbagZgZg_h[oh^bfhklvkha^Zgby wnn_dlb\gh]hmqj_`^_gby^eyh[_ki_q_gbyj_ZebaZpbbdhgdmj_glghciheblbdb 11. MqZklgbdbaZkemrZebdhgdj_lgmxbgnhjfZpbxhlhfdZdj_nhjfuj_]mebjh\Zgby wdhghfbdbijh\h^beZh^gZbakljZgg_y\eyxsZykyqe_ghf?K-R\_cpZjby<]h^m R\_cpZjbyhldZaZeZkvhlmqZklby\?\jhi_ckdhfwdhghfbq_kdhfijhkljZgkl\_Ihke_ wlh]h[ueZijbgylZijh]jZffZeb[_jZebaZpbbwdhghfbdbgZijZ\e_ggZygZihhsj_gb_ dhg\_j]_gpbbk?KG_kfhljygZhldZaijbkh_^bgblvkyd?Kf_juihh[_ki_q_gbx ]em[hdhcdhg\_j]_gpbbkijZ\h\hckbkl_fhc?KijbgbfZebkv\R\_cpZjbbihklhyggh ijbq_f\h\k_[he__rbjhdbofZkrlZ[Zo 12. ;ueblZd`_h[km`^_gu\hijhkuk\yaZggu_k\Z`ghklvxjhebghjfZlb\ghj_]meypbhgghckj_^udZdh^gh]hbabgkljmf_glh\ijb\e_q_gbyIBB<dZq_kl\_ijbf_jZ [ueZijb\_^_gZ<_g]jby]^_ghjfZlb\gZy[ZaZbklbfmeuku]jZeb\ijb\e_q_gbbIBB hij_^_e_ggmxjhevH^gZdh]hjZa^h\Z`g__[ueblZdb_nZdlhjudZdeb[_jZebaZpbyb gZebqb_j_imlZpbbiheblbq_kdbbaZdhgh^Zl_evghklZ[bevghckljZguhlghkbl_evgZy ij_^kdZam_fhklvbljZgkiZj_glghklvmkeh\bcaZgylbyij_^ijbgbfZl_evkl\hf_fdhklv jugdZbijhba\h^kl\_ggu_ba^_j`dbDjhf_lh]hg_evayij_g_[j_]Zlv\ebygb_f klbfmeh\^eyijb\e_q_gbyIBBhkh[_ggh\l_okemqZyodh]^Zh^gZkljZgZklbfmeu kha^Z_lZ^jm]Zy-g_l TRADE/2004/20 page 5 K IheblbdZ?K 13. GZ\lhjhfaZk_^ZgbbjZ[hq_]hkh\_sZgby[uebjZkkfhlj_guiheblbdZbijZdlbdZ ?K\hlghr_gbb]hkm^Zjkl\_gguoij_^ijbylbcbnbgZgkh\uomkem]km^_e_gb_fhkh[h]h \gbfZgby[Zgdh\kdbfmkem]ZfIhljZ^bpbbh[km`^Zeky\hijhkhghjfZodhgdmj_glgh]h aZdhgh^Zl_evkl\ZdZkZxsbokyijhp_kkZdhgp_gljZpbb]hkm^Zjkl\_gguoij_^ijbylbcgZ jugd_qlh[uehh[mkeh\e_ghkljZohfi_j_^klZjufbdZjl_eyfbih^h[gufb kms_kl\h\Z\rbf\q_jghcf_lZeemj]bb\-o]h^Zo<k\yabkwlbf[ueb^Zgu ih^jh[gu_ihykg_gbyihih\h^mg_cljZevghklbaZdhgh^Zl_evkl\Z?Kihhlghr_gbxd ]hkm^Zjkl\_gghcbqZklghckh[kl\_gghklbbh[jZs_gh\gbfZgb_gZbaf_g_gby\ih^oh^_d g_dhlhjuf]hkm^Zjkl\_ggufij_^ijbylbyf\?K 14. Ih^q_jdb\ZeZkv\Z`ghklvj_]meylb\ghcdhg\_j]_gpbbf_`^m kljZgZfb?K ?Kbg_ijbkh_^bgyxsbfbkykljZgZfb\h[eZklbnbgZgkh\uomkem]IjZ\h\u_ghjfu ?KdZkZxsb_kynbgZgkh\uomkem]gZijbf_j[m^ml\iheghcf_j_jZkijhkljZgylvkygZ ijbkh_^bgyxsb_kykljZgu<k_[he__\Z`gh_agZq_gb_^eyijhp\_lZgby\mkeh\byo _^bgh]hjugdZbf__lijZ\hgZk\h[h^mihk_e_gbybk\h[h^gh_^\b`_gb_mkem];ue ijhykg_gih^oh^?Kdh[_ki_q_gbxlh]hqlh[uijhp_kk_]hjZkrbj_gbyg_ijb\_ed ^_ahj]ZgbaZpbbjugdh\nbgZgkh\uomkem]<hlghr_gbb[Zgdh\kdbomkem][uehmdZaZgh qlhp_evaZdexqZ_lky\kha^Zgbb_^bghc_\jhi_ckdhcieZl_`ghcahgukih\k_f_klguf kha^Zgb_fh[s_ckbkl_fuaZsbluihlj_[bl_e_cWlhij_^mkfZljb\Z_lijh\_^_gb_ i_j_dj_klguoijh\_jhd\uiheg_gb_wdki_jlguoh[ahjh\ih^]hlh\dmieZgh\^_ckl\bc hkms_kl\e_gb_fhgblhjbg]Zbijbgylb_ij_^hojZgbl_evguof_j<h\k_fj_]bhg_?K gm`gh[hevr_aZgbfZlvkyi_gkbhggufbj_nhjfZfbZm^blhfb[mo]Zel_jkdbfmq_lhf H^gZdhagZqbl_evgZyqZklv[Zgdh\kdh]hk_dlhjZih-ij_`g_fmih^qbg_gZgZpbhgZevguf ijZ\beZfZg_aZdhgh^Zl_evkl\mKhh[s_kl\Zb\g_fg_h[oh^bfh\\_klbijbgpbi \aZbfgh]hijbagZgbygZpbhgZevguoaZdhgh\?Kb]ZjfhgbaZpbbgZpbhgZevguoghjfgZ mjh\g_Khh[s_kl\Z D. Dhg\_j]_gpbyg_ijbkh_^bgyxsbokykljZg 15. MqZklgbdbkh\_sZgbyaZdjm]eufklhehfkhkj_^hlhqbeb\gbfZgb_gZ g_ijbkh_^bgyxsbokykljZgZobboihlj_[ghklyodhlhju_k\yaZgukijbf_g_gb_f j_]meylb\guof_jij_^mkfhlj_gguolZdbfbf_`^mgZjh^gufbhj]ZgbaZpbyfbdZd ?WD HHGb<LHZlZd`_kijb\_^_gb_fboj_]meylb\guof_j\khhl\_lkl\b_k ZgZeh]bqgufbf_jZfb?Kbebf_jZfbij_^mkfhlj_ggufb\jZfdZoj_]bhgZevguo kh]eZr_gbc TRADE/2004/20 page 6 16. ;ueb^ZgujZatykg_gbyihih\h^m^_yl_evghklbJZ[hq_c]jmiiu ?WD HHG ij_`^_\k_]h\hlghr_gbb__gZijZ\eyxs_cjheb\ijhp_kk_khljm^gbq_kl\Zf_`^m hj]ZgZfbklZg^ZjlbaZpbbhj]ZgZfbj_]mebjh\Zgbyb^_eh\ufbdjm]Zfb<dZq_kl\_ iheh`bl_evgh]h\wlhfieZg_ijbf_jZ[ueZijb\_^_gZjZajZ[hlZggZywlhcJZ[hq_c ]jmiihcF_`^mgZjh^gZyfh^_evdhlhjZy\gZklhys__\j_fybkihevam_lkyhj]ZgZfb klZg^ZjlbaZpbbgZ\k_cl_jjblhjbbkljZg KG=<_kvfZihablb\gh[ueZ\hkijbgylZ hkgh\gZyaZ^ZqZ?WDHHGk\yaZggZykiheghcbgl_]jZpb_c\k_o__]hkm^Zjkl\-qe_gh\\ j_]bhgZevgmxbfbjh\mxwdhghfbdm 17. Djhf_lh]hrbjhdhh[km`^Zeky\hijhkh[h[yaZl_evghcdhg\_j]_gpbbkljZg ijbkh_^bgyxsbokyd<LHbdh\k_fkhhl\_lkl\mxsbfkh]eZr_gbyf<LH;ueih^gyl dexq_\hc\hijhk\dZdhfgZijZ\e_gbb^he`_gb^lbijhp_kkdhg\_j]_gpbb\kljZgZo `_eZxsboijbkh_^bgblvkyd<LHJ_amevlZlhfi_j_]h\hjh\hijbkh_^bg_gbby\ey_lky iZd_lh[yaZl_evkl\khklhysbcbagZpbhgZevguoi_j_qg_ch[yaZl_evkl\ihlh\ZjZfb mkem]Zfb^jm]boh[yaZl_evkl\khhl\_lkl\mxsboijZ\beZfbh[yaZl_evgufiheh`_gbyf Kh]eZr_gbyh[mqj_`^_gbb<LHWlbghjfug_h[jZamxliheghfZkrlZ[ghcfh^_ebZ, kdhj__ij_^klZ\eyxlkh[hcgZ[hjg_]Zlb\guoijZ\bel_ijZ\beij_^mkfZljb\Zxsbo qlhl_bebbgu_^_ckl\by^himkdZlvkyg_^he`guMqZklgbdbhlf_lbebqlhkha^Zgb_ [he__ij_^kdZam_fuobklZ[bevguomkeh\bc^eylhj]h\ebihke_ijbkh_^bg_gbykljZgd <LH^he`ghijbg_klbihablb\gu_\u]h^ughg_h[oh^bfhgZclbhl\_lgZ\hijhkdZdZy fh^_evy\ey_lkygZb[he__ih^oh^ys_c;uehijbagZghqlhh^ghcbafh^_e_cy\ey_lky fh^_ev?KijZ\h\u_ghjfudhlhjh]h\_jhylghhlebqZxlkygZb[hevr_cq_ldhklvxih kjZ\g_gbxkbf_xsbfbkyfh^_eyfb 18. <dZq_kl\_ijbf_jZijbf_g_gbyj_]bhgZevgh]hih^oh^Zdmkbe_gbxwdhghfbq_kdh]h khljm^gbq_kl\Zbbgl_]jZpbbhkh[h_\gbfZgb_ijb\e_ddk_[_\hijhkh ij_^mkfZljb\Z_fhf^hklb`_gbbj_]meylb\ghcdhg\_j]_gpbb\ijhp_kk_hkms_kl\e_gby g_^Z\ghih^ibkZggh]hkh]eZr_gbyhkha^Zgbb_^bgh]hwdhghfbq_kdh]hijhkljZgkl\Z f_`^mJhkkb_cMdjZbghc;_eZjmkvxbDZaZoklZghfWlhkh]eZr_gb_gZijZ\e_ghgZ h[_ki_q_gb_k\h[h^gh]h^\b`_gbylh\Zjh\mkem]dZiblZeZbjZ[hq_ckbeub ij_^mkfZljb\Z_lmklZgh\e_gb_h[s_]h\g_rg_lhj]h\h]hlZjbnZbk[eb`_gb_iheblbdb mqZkl\mxsbokljZg\h[eZklbklZg^ZjlbaZpbbkZgblZjghcnblhkZgblZjghcbbguo kn_jZoMdjZbgZih^ibkZeZwlhkh]eZr_gb_kjy^hfh]h\hjhdbgZklZb\ZeZgZlhfqlh hghg_^he`ghij_iylkl\h\Zlvijbkh_^bg_gbxd<LH;uebih^gylu\hijhkuh[m^ms_f nmgdpbhgbjh\Zgbbwlh]hkh]eZr_gbyb\hafh`ghfbkihevah\Zgbbwlhcfh^_eb^jm]bfb kljZgZfbKG=;uehihykg_ghqlhwlhkh]eZr_gb_fh`_lhdZaZlvkymki_rguf ihkdhevdm_]hmqZklgbdbh[yaZebkvkha^Zlv^ey\uiheg_gbyij_^mkfhlj_gguo\g_f h[yaZl_evkl\_^bgu_bgklblmlugZijbf_j_^bguchj]ZgihklZg^ZjlbaZpbb TRADE/2004/20 page 7 19. ;uelZd`_jZkkfhlj_g\hijhkh[wdhghfbq_kdhfkhljm^gbq_kl\_\dZkibckdhf j_]bhg_ijbwlhfhkh[h_\gbfZgb_[uehm^_e_ghwg_j]_lbq_kdhfmb\h^hohayckl\_gghfm k_dlhjZf]^_kms_kl\mxl\hafh`ghklb^eywdhghfbq_kdh]hkhljm^gbq_kl\ZGZijbf_j ^eyma[_dkdh]hblmjdf_gkdh]h]ZaZ_kl_kl\_ggufbjugdZfby\eyxlkyDZaZoklZgb JhkkbyZDZaZoklZgiulZ_lky^b\_jkbnbpbjh\Zlvjughd^eyk\h_cg_nlb 20. ;uehlZd`_ij_^klZ\e_ghl_fZlbq_kdh_bkke_^h\Zgb_Ohj\ZlbbdhlhjZyb^_lih imlbdhg\_j]_gpbbbjZkkqblu\Z_lklZlvqe_ghf?K;uehijbagZghqlhhgZy\ey_lky ihe_agufijbf_jhf^eyaZiZ^gh[ZedZgkdbokljZgmdhlhjuoihy\bebkvi_jki_dlb\u ijbkh_^bg_gbyd?K\[m^ms_f ? <u\h^u 21. MqZklgbdbJZ[hq_]hkh\_sZgbyih^q_jdgmeb\Z`ghklvbagZqbfhklvjheb?WD HHG \g_^hims_gbbgh\h]hjZa^_e_gbyj_]bhgZ?WDHHGihke_jZkrbj_gby?Kihkdhevdm hgZy\ey_lkygZb[he__ih^oh^ysbfbg_cljZevguff_oZgbafhf^eyhp_gdbb mj_]mebjh\ZgbyjZaebqguoihke_^kl\bcjZkrbj_gby?K^eyg_ijbkh_^bgyxsbokykljZg X`ghcb<hklhqghc?\jhiuDZ\dZaZbP_gljZevghc:abb< lh`_\j_fy[ueZijbagZgZ g_h[oh^bfhklv\g_k_gbyihablb\gh]h\deZ^Zkhklhjhgu\k_ohkgh\guoaZbgl_j_kh\Zgguo klhjhg -?KijZ\bl_evkl\g_ijbkh_^bgyxsboky]hkm^Zjkl\^_eh\uodjm]h\GIHb khhl\_lkl\mxsbof_`^mgZjh^guohj]ZgbaZpbc 22. G_ijbkh_^bgyxsb_kyd?KkljZguki_j_oh^ghcwdhghfbdhclZd`_\h\k_[hevr_c kl_i_gbijbagZxl\Z`ghklvj_]meylb\ghcdhg\_j]_gpbb\dhgl_dkl_bo[m^ms_]hmqZklby \]eh[Zebabjh\ZgguojugdZoIjbf_g_gb_h[sboghjfbklZg^Zjlh\ihfh`_lkm[t_dlZf wdhghfbq_kdhc^_yl_evghklbg_ijbkh_^bgyxsbokykljZg\_klbdhgdmj_glgmx[hjv[mgZ jugd_?Kbf_`^mgZjh^guojugdZodh]^Zhgb\uc^mlaZij_^_euk\hbo\gmlj_ggbo jugdh\Bomki_obebg_mki_o[m^_l\hfgh]bokemqZyoaZ\bk_lvhllh]hgZkdhevdh ohjhrhhgb[m^mlagZlvghjfZlb\gu_ZdlubklZg^Zjluwdkihjlguojugdh\< l_o kn_jZo]^_f_`^mklZg^ZjlZfbg_ijbkh_^bgyxsbokykljZgbklZg^ZjlZfb?K kms_kl\mxljZaebqbydhfiZgbyfbag_ijbkh_^bgyxsbokykljZg[m^_lkeh`g__\_klb lhj]h\u_hi_jZpbbkhkljZgZfbjZkrbj_ggh]h?K;he__lh]heb[_jZebaZpbylhj]h\ebb ijbgylb_h[sboghjfbklZg^Zjlh\bf_xlhkgh\hiheZ]Zxs__agZq_gb_^eymkbe_gby ijhp_kkZlhj]h\hcbjughqghcbgl_]jZpbbg_lhevdhf_`^mjZkrbj_gguf?Kb g_ijbkh_^bgyxsbfbkykljZgZfbghbf_`^mkZfbfbg_ijbkh_^bgyxsbfbkykljZgZfb Ihwlhfm^\b`ms_ckbehcj_]meylb\ghcdhg\_j]_gpbb^he`gu[ulvg_lhevdhijhp_kk jZkrbj_gby?Kbkms_kl\mxsb_^\mklhjhggb_kh]eZr_gbyk?Kghbbomklj_fe_gbyd \_^_gbxdhgdmj_glghc[hjv[ugZ]eh[ZevguojugdZodhlhju_bgklblmpbhgZevgh m\yau\Zxlkykboqe_gkl\hf\<LH TRADE/2004/20 page 8 23. 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