XVIII |
Governmental Assistance to
Economic Development |
|
1 |
Recognizes the importance of "progressive
development" of CP economies, especially the least developed. |
|
2 |
Recognizes a role for "protective measures" for
development and permits LDCs (a) to grant infant industry protection and (b) to apply QRs
for balance of payments purposes in light of high import demand for development purposes. |
|
3 |
Recognizes that special cases exist where protective steps
consistent with provisions of Sections A and B of this Article are not sufficient for development
purposes and includes Sections C and D for those cases. |
|
4(a) |
A CP which has "low standards of living and is in the
early stages of development" may deviate temporarily from this Agreement under
Sections A, B and C of this Article |
|
4(b) |
Other economies "in the process of development" may
submit applications under Section D. |
|
5 |
Provides for consultations under Article
XXII when LDC "exports of primary commodities" are "seriously affected
by measures" of another CP. |
|
6 |
Requires nnual review of all measures applied under Section C and D. |