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Indian Economy

Notes to be casually called “Tokyo Codes”. Numerous of these codes were sooner or later discussed in
the Uruguay Round and became multidimensional promises acknowledged by all WTO members.
Only four continued “plurilateral” agreements and these related to government procurement,
bovine meat, civil aircraft and dairy products. In 1997, the members decided to dismiss the
bovine meat and dairy agreements, leaving only the other two.

10.1.4 Uruguay Round

You must understand that the seeds of the Uruguay Round were sown in November 1982 at a
parliamentary meeting of GATT members in Geneva. The work programme that the ministers
decided designed the base for what was to become the Uruguay Round Negotiating Agenda. On
the other hand, it took four more years previously ministers decided to launch the new round in
September 1986, at Punta del Este, Uruguay.
The round was hypothetical to finish when ministers encountered once more in Brussels in
December 1990. But difference on improving agricultural trade nearly led to the failure of the
talks. That indefinite time saw the first current of a final legal arrangement. This current “Final
Act”, also recognised as the “Dunkel Draft” subsequently GATT Director-General, Arthur Dunkel,
became the basis for the Uruguay Round negotiations.
Over the subsequent two years, facilities, market access, anti-dumping rules and the creation of
a new organization were the other areas of difference along with agriculture. The area of distress
during the time was the major differences concerning the United States and European Union
(EU) on the above issues.
In November 1992, the US and the EU settled most of their differences on agriculture in a deal
recognized casually as the “Blair House Accord”. By July 1993, the “Quad” (US, EU, Japan and
Canada) declared substantial development in discussions on tariffs and related subjects (“market
access”).

You may already be aware that it took until December 15, 1993, for every subject to be lastly
determined and for discussions on market access for goods and services to be determined. The
WTO agreement was finally employed on April 15, 1994, by ministers from most of the 123
contributing governments at a meeting in Marrakech, Morocco.

Notes On the other hand, the GATT 1947 remains to be the basis concerning features
dealing with trade in goods below the Uruguay Agreement.

Caselet Condition of Labourers in Malwa

he GATT 1947 mentions that no prohibitions or restrictions other than duties, taxes
or other charges, whether made effective through quotas, import or export licenses
Tor other measures, shall be instituted or maintained by any contracting party on
the importation of any product of the territory of any other contracting party or on the
exportation or sale for export of any product destined for the territory of any other
contracting party.
The main reason for this prohibition is that quantitative restrictions (QR) can be more
trade restrictive than tariff measures. Tariffs per se do not prevent entry of products, and
Contd...

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