3. This Protocol will come into force upon the signing of the Agreement.
   
   
4. For the purpose of this Protocol, the term " Areas " means the areas under the jurisdiction of the Palestinian Authority, according to the provisions of the Agreement regarding territorial jurisdiction. The Palestinian Jurisdiction in the subsequent agreements could cover areas, spheres or functions according to the Interim Agreement. Therefore, for the purpose of this Protocol, whenever applied, the term " Areas " shall be interpreted to mean functions and spheres also, as the case may be, with the necessary adjustments.
   
   

Article II

THE JOINT ECONOMIC COMMITTEE

1. Both parties will establish a Palestinian - Israeli Joint Economic Committee ( hereinafter - the JEC ) to follow up the implementation of this Protocol and to decide on problems related to it that may arise from time to time. Each side may request the review of any issue related to this Agreement by the JEC.
   
   
2. The JEC will serve as the continuing committee for economic cooperation envisaged in Annex III of the Declaration of Principles.
   
   
3. The JEC will consist of an equal number of members from each side and may establish subcommittees specified in this Protocol.
   
   
   A subcommittee may include experts as necessary.
   
   

4. The JEC and its sub-committees shall reach their decisions by agreement and shall determine their rules of procedure and operation, including the frequency and place or places of their meetings.
   
   

Article III

IMPORT TAXES AND IMPORT POLICY

1. The import and customs policies of both sides will be according to the principles and arrangements detailed in this Article.
   
   
1. The Palestinian Authority will have all powers and responsibilities in the sphere of import and customs policy and procedures with regard to the following:
   
   
1. Goods on List Al, attached hereto as Appendix I locally - produced in Jordan and in Egypt particularly and in the other Arab countries, which the Palestinians will be able to import in quantities agreed upon by the two sides up to the Palestinian market needs as estimated according to para 3 below.
   
   
2. Goods on List A2, attached hereto as Appendix II, from the Arab, Islamic and other countries, which the Palestinians will be able to import in quantities agreed upon by the two sides up to the Palestinian market needs as estimated according to para 3 below.

<70>