Regulation (EC) No 747/2001 is amended as follows:
(1)
the following Article 1a is inserted:
‘Article 1a
Suspension of the application of tariff quotas and reference quantities for products originating in the West Bank and the Gaza Strip
The application of the tariff quotas and reference quantities laid down in Annex VIII for products originating in the West Bank and the Gaza Strip shall be temporarily suspended for a period of 10 years from 1 January 2012.
However, depending on the future economic development of the West Bank and Gaza Strip, a possible extension for an additional period could be considered at the latest 1 year before the expiration of the 10 years period as provided by the Agreement in the form of an Exchange of Letters approved on behalf of the Union by Council Decision 2011/824/EU ( *1 ) .
( *1 )
OJ L 328, 10.12.2011, p. 2 .’;"
(2)
Article 2 is deleted.