410. Having introduced this particular item, I would like to thank all delegations that took the floor. I think many constructive interventions have been made. This particular paper evidences the fact that all Members of the WTO have obligations to comply with the treaty undertaking which is clearly evidenced under the covered agreements. We recognize the international principle of pacta sunt servanda which means that when we enter into contracts or obligations that we should own them. This does not mean in the context of the WTO that we cannot differentiate between Members that are clearly in different situations. We believe that good faith implementation of obligations means that when Members require additional flexibility that this should be accorded. In 148 instances across the covered agreements, we have indicated that developing Members have access to these particular flexibilities.
411. This paper goes in the direction to recognize that there are common and shared obligations to ensure the proper functioning of this Organization. Nonetheless, there are issues that we need to address. For this purpose, as announced in Japan's intervention, we intend to introduce a draft decision at the level of the General Council at the next meeting calling for certain measures to be implemented under the heading of transparency. We would also like to thank India, China and the European Union for their interventions and we certainly think that this is a topic worth pursuing on something that is necessary for us to ensure the proper functioning of this Organization including this particular body.
