Regulation 2005/184 - Community statistics concerning balance of payments, international trade in services and foreign direct investment - Main contents
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Regulation (EC) No 184/2005 of the European Parliament and of the Council of 12 January 2005 on Community statistics concerning balance of payments, international trade in services and foreign direct investment| Legal instrument | Regulation |
|---|---|
| Number legal act | Regulation 2005/184 |
| Original proposal | COM(2003)507  |
| CELEX number i | 32005R0184 |
| Document | 12-01-2005 |
|---|---|
| Publication in Official Journal | 08-02-2005; OJ L 35, 8.2.2005,Special edition in Romanian: Chapter 11 Volume 039,Special edition in Bulgarian: Chapter 11 Volume 039,Special edition in Croatian: Chapter 11 Volume 080 |
| Effect | 28-02-2005; Entry into force Date pub. + 20 See Art 13 |
| End of validity | 31-12-9999 |
8.2.2005 |
EN |
Official Journal of the European Union |
L 35/23 |
REGULATION (EC) No 184/2005 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL
of 12 January 2005
on Community statistics concerning balance of payments, international trade in services and foreign direct investment
THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty establishing the European Community, and in particular Article 285(1) thereof,
Having regard to the proposal from the Commission,
Having regard to the opinion of the European Central Bank, delivered in accordance with Article 105(4) of the Treaty (1),
Acting in accordance with the procedure laid down in Article 251 of the Treaty (2),
Whereas:
(1) |
The Treaty requires the Commission to submit reports to the Council in order to enable the Council to monitor economic developments in each of the Member States and in the Community as well as the consistency of economic policies with certain broad guidelines. |
(2) |
According to the Treaty, the Commission must submit proposals to the Council for implementing the common commercial policy and the Council must authorise the Commission to open the necessary negotiations. |
(3) |
The implementation and the review of trade agreements, including the General Agreement on Trade in Services (GATS) (3) and the Agreement on Trade-Related aspects of Intellectual Property Rights (TRIPs) (4), as well as the current and future negotiations on further agreements, call for the relevant statistical information to be made available. |
(4) |
Council Regulation (EC) No 2223/96 of 25 June 1996 on the European System of national and regional accounts in the Community (5) (ESA 95) contains the reference framework of common standards, definitions, classifications, and accounting rules for drawing up the accounts of the Member States for the statistical requirements of the Community, in order to obtain comparable results between Member States. |
(5) |
The Action Plan on EMU Statistical Requirements presented to the Council in September 2000 and the 3rd, 4th and 5th Progress Reports, also supported by the Council, provide for quarterly European accounts by the institutional sector within 90 days. The timely provision of quarterly balance-of-payments figures is a prerequisite for the compilation of these quarterly European accounts. |
(6) |
Council Regulation (EC, Euratom) No 58/97 of 20 December 1996 on Structural Business Statistics (6), established a common framework for the collection, compilation, transmission and evaluation of Community statistics on the structure, activity, competitiveness and performance of businesses in the Community and sets out the characteristics which should be collected in this area. |
(7) |
Regulation (EC) No 2560/2001 of the European Parliament and of the Council of 19 December 2001 on cross-border payments in euro (7), had a direct impact on the collection of statistics; an increase in the threshold provided for in that Regulation would have a significant impact on the reporting burden of undertakings and on the quality of balance of payments statistics of Member States, especially in the Member States that have collection systems based on settlements. |
(8) |
Collectively, the Balance of Payments Manual of the International Monetary Fund, the Guideline of the European Central Bank (ECB) of 2 May 2003 on the statistical reporting requirements of the European Central Bank in the field of balance of payments and international investment position statistics, and the international reserves template (8), the Manual on statistics of international trade in services of the United Nations, and the OECD Benchmark Definition of Foreign Direct Investment, define the general rules for compiling statistics on balance of... |
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