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24-25 APRIL 2008:  35TH MEETING OF THE PARTICIPANTS TO THE AIRCRAFT SECTOR UNDERSTANDING (ASU)

The Participants to the Aircraft Sector Understanding (Australia, Brazil, Canada, European Community, Japan, Korea, New Zealand, Norway, Switzerland and the United States) held their first 2008 Meeting in Paris at the OECD on 24 and 25 April and continued the work mandated by the provisions of the Understanding, which includes the review of the implementation of the Understanding since its entry into force on 1 July 2007. The Participants also discussed the establishment of a Reset Model in order to keep up to date certain minimum risk-premium rates, as well as a number of technical questions relating to the interpretation of the text and proposals for amending the text in order to improve its clarity and efficiency.

As in the past, during the negotiation of the ASU, the Participants met with representatives of the Aviation Working Group (AWG). The Participants and the AWG representatives exchanged views on the first nine months of implementation of the new ASU text; they also discussed various technical questions and proposals made by the AWG. The Participants agreed to continue to consult with the AWG when appropriate.

The next meeting of the Participants to the ASU has been scheduled for the 27 June 2008.

XCRED Secretariat
June 2008