XVIII |
Section B |
|
8 |
Contracting Parties recognize that LDCs experience balance of
payments difficulties when developing due to "efforts to expand their internal
markets as well as from the instability in their terms of trade." |
|
9 |
Sanctions import restrictions for LDCs for balance of
payments purposes, subject to paragraphs 10-12. |
|
10 |
May discriminate "to give priority" to "more
essential" imports, but must avoid unnecessary damage, preserve regular channels of
trade and respect intellectual property rights. |
|
11 |
Must aim to reduce restrictions to the extent possible given
the country's development policy. |
|
12(a) |
Requires consultations immediately upon instituting or
tightening restrictions. |
|
12(b) |
Requires consultations at intervals of not less than two
years. |
|
12(c) |
(i) Contracting Parties shall indicate and may advise about
any inappropriate policies found during consultations. (ii) Contracting Parties may
recommend revisions for damaging policies and authorize retaliation in cases of
noncompliance. |
|
12(d) |
Authorizes dispute settlement following a failure of
bilateral negotiations. |
|
12(e) |
A CP which finds that retailation under subparagraphs c(ii)
or d threatens its development program, the CP can offer within 60 days after the
retaliation to provide 60 days notice of withdrawal from the Agreement. |
|
12(f) |
Requires Contracting Parties to recognize the role of import
restrictions as noted in paragraph 2 and should strive to
render decisions "within sixty days of the initiation of consultations." |