The Contracting Parties shall endeavour to liberalise the markets in a reciprocal and progressive manner, to be implemented on the basis of the decisions of the Joint Committee set up under the Agreement. The agreement opens its doors to negotiations with a view to extending any additional future benefits granted to third parties, either by the EFTA States or by Lebanon. A Joint Committee composed of representatives of the EFTA States and Lebanon shall monitor the application of the Agreement. The Parties may hold consultations and, in the absence of agreement, apply interim measures. The Agreement contains provisions on subsidies and anti-dumping that are in line with the respective WTO rules, as well as procedures for the application of safeguard measures. The applicant for EUR.1 (the exporter) must be able to prove the origin of the goods, which is usually done by presenting the supplier`s invoice, with an indication of the origin of the product. This is called the Supplier Declaration (SD).  The exporter then completes the EUR.1 application form and submits it to the competent authorities (usually the customs office) together with the supplier`s invoice. The authorities certify the form with a stamp and return it to the exporter. One of the objectives of the Agreement is the progressive liberalisation of trade in goods, in accordance with Article XXIV of the GATT. Until 1 March 2015, virtually all tariffs on trade in industrial goods, fish and other marine products were eliminated.
The agreement also contains provisions on the removal of other trade barriers and trade-related disciplines, including competition rules, state monopolies and state aid. In addition, the agreement contains chapters on intellectual property, services, investment, payments and transfers. The Agreement provides for the establishment of a Joint Committee to monitor the application of the Agreement and to provide for a binding arbitration procedure. Cumulation of origin means that a good originating in one partner country may be processed or added to a product of another partner country and that it remains considered an “originating product” of that second partner country for the purposes of a given trade agreement. In order to facilitate the application of the Agreement, the EFTA States and Lebanon will develop arrangements for technical assistance and cooperation and coordinate their efforts with the relevant international organisations. Lebanon or an EFTA State may suspend a dispute over the interpretation of the rights and obligations under the Agreement to compulsory arbitration if consultations do not lead to an agreement. The arbitral tribunal shall decide on the dispute in accordance with the provisions of the Agreement and the usual rules of interpretation of international law. Instead of a movement certificate, a simple origin declaration on invoice may be presented by the manufacturer or consignor of the goods instead of a valid movement certificate: this declaration shall be referred to as an invoice declaration. . .