31. 12. 94 Official Journal of the European Communities No L 3481 (Acts whose publication is obligatory) COUNCIL REGULATION (EC) No 3281/94 of 19 December 1994 applylng a four-year scheme of generalized tariff preferenccs (1995 to 1998) in respect of certain industrial products originating in developing countries THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty esfablishing the European Community, and in particular Article 113, Having regard to the proposal from the Commission (1), Having regard to the opinion of the European Parliament (2), : Having regard to the opinion of the Economic and Social Committee (3), . Whereas, in accordance with its offer made in the context of the United Nations Conference on Trade and Development (Unctad), the European Community opened generalized tariff preferences commencing in 1971 in respect, inter alia, of finished and semi-finished industrial products from developing countries; whereas the initial ten-year period of application of such preferences ended on 31 December 1980 and a second ten-year period ended on 31 December 1990, though the scheme has been kept in being unchanged until now; . Whereas the positive role played by this system in the past in improving access for the developing countries to the markets of preference-giving countries is accepted and justifies its continued existence for a time, in step with other priority measures, including the multilateral liberalization of trade; ' Whereas in communications to the Council dated 6 July 1990 and 1 June 1994 the Commission set out its (1) OJ No C 333, 29. 11. 1994, p. 9. (2) O] No C 341, 5. 12. 1994. (3} Opinion delivered on 11 October 1994 (not yet published in the Official Journal). recommendations for a further ten-year period of application of its scheme of generalized preferences; Whereas preferential imports have 'grown substantially since the previous decade, but the distribution of gains is .- still uneven despxte the adoption of a pohcy of differentiation in the 1980s; Whereas the Treaty on European Union has lent a fresh impetus to Community development policy as an aspect of the Union’s foreign policy, with priority given to the sustainable economic and social development of the developing countries and their smooth and gradual integration into the world economy; ~ Whereas the Community scheme of generalized preferences  should  accordingly  become  more development-oriented, focusing on the countries which have most need of it, i. e. the poorest countries; whereas the scheme should be complementary to GATT instruments and should foster the integration of developing countries into the world economy and the multilateral trading - system;  whereas the giving of preferences should therefore be seen as a transitional measure, to be used at need and phased out when the need is considered no longer to exist; Whereas the new offer aims at a level of liberalization which is neutral overall compared with the existing scheme as regards the impact of the preferential margin on the potential volume of preferential trade without special incentive arrangements; Whereas the new offer must also take account of certain sectors or products which are sensitive for Community industry; whereas sensitive sectors should be protected against import surges solely by a dual mechanism