Page 468 - Regional Comprehensive Economic Partnership (RCEP)

(c) not exceed those necessary to deal with the circumstances
described in subparagraph 1(b) or paragraph 2;

(d) be temporary and be phased out progressively as the
situation specified in subparagraph 1(b) or paragraph 2
improves; and

(e) be applied on a non-discriminatory basis such that no Party
is treated less favourably than any other Party or a non-
Party.

4. With respect to trade in services and investment:

(a) it is recognised that particular pressures on the balance of
payments of a Party in the process of economic
development or economic transition may necessitate the
use of restrictions to ensure, inter alia, the maintenance of
a level of financial reserves adequate for the
implementation of its programme of economic
development or economic transition;

(b) in determining the incidence of such restrictions, a Party
may give priority to economic sectors which are more
essential to its economic or development programmes.
However, such restrictions shall not be adopted or
maintained for the purposes of protecting a particular
sector.

5. Any restriction adopted or maintained by a Party under paragraph
1 or 2, or any change thereto, shall be notified promptly to the
other Parties.

6. A Party adopting or maintaining any restriction under paragraph
1 or 2 shall:

(a) in the case of investments, respond to any other Party that
requests consultations in relation to the restrictions
adopted by it, if such consultations are not otherwise taking
place outside this Agreement;

(b) in the case of trade in services, promptly commence
consultations with any other Party that requests
consultations in relation to the restrictions adopted by it, if
such consultations are not taking place at the WTO.

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