Article 15 — Outermost regions of the European Union

1. If a product originating in the country concerned is imported under preferential terms into the territory of one or several of the Union’s outermost regions in such increased quantities and under such conditions as to cause or threaten to cause serious deterioration in the economic situation of the Union’s outermost regions, the Commission may exceptionally adopt safeguard measures limited to the territory of the outermost regions concerned, unless a mutually satisfactory solution is reached. 2. Without prejudice to paragraph 1, other rules laid down in this Regulation applicable to safeguard measures shall also apply to any safeguard measure adopted under this Article. 3. For the purposes of paragraph 1, serious deterioration means major difficulties in a sector of the economy producing like or directly competitive products. The determination of serious deterioration shall be based on objective factors, including the following: (a) the increase in the volume of imports in absolute or relative terms to domestic production and to imports from other countries; and (b) the effect of such imports on the situation of the relevant industry or the economic sector concerned, including on the level of sales, production, financial situation and employment.