Although the Marrakesh agreement itself does not apply directly to your business, the WTO agreements offer, in their annexes, a comprehensive set of rules aimed at facilitating competition in the current global market. The full text of all WTO agreements, including those concluded since the wto`s inception, is contained in the TARA database on negotiations and compliance with U.S. Department of Commerce trade agreements. In the event that an interim agreement notified in accordance with Article XXIV, paragraph 7, point a), does not contain a plan and timetable, the working group`s report recommends such a plan and timetable. The parties do not suspend or implement this agreement if they are unwilling to amend it in accordance with these recommendations. A further review of the implementation of the recommendations should be planned. Customs unions, free trade zones and interim agreements leading to the establishment of a customs union or free trade area in accordance with Article XXIV must, among other things, comply with the provisions of paragraphs 5, 6, 7 and 8 of this article. These are additional agreements negotiated after the Uruguay Round and annexed to the general agreement on trade in services. There is no “first protocol.” The corresponding appointments can be ordered at the online bookstore.
The parties to the interim agreement notify the Trade in Goods Council of substantial changes to the plan and timetable contained in this agreement and, upon request, the Commission reviews the amendments. In the event of a conflict between a provision of the General Agreement on Tariffs and Trade in 1994 and a provision of another agreement in Schedule 1A of the World Trade Organization agreement (known as the “WTO agreement” in the Schedule 1A agreements), priority is given to the definition of the other agreement. Article XXIV, paragraph 6, defines the procedure to be followed when a member forming a customs union proposes an increase in the bound tariff rate. In this context, members reaffirmed that the procedure under Article XXVIII, as defined in the guidelines adopted on 10 November 1980 (BISD 27S/26-28) and in the agreement on the interpretation of Article XXVIII of the GATT 1994, must be initiated before tariff concessions are amended or withdrawn following the creation of a customs union or an interim agreement leading to the formation of a customs union. With regard to interim agreements, the working group`s report can make appropriate recommendations on the proposed timetable and on the measures necessary to complete the establishment of the customs union or free trade area. It may provide, if necessary, for a further revision of the agreement. Paragraph 1 applies between a member and another member who has joined under Article XII only if the member who does not accept the application has informed the ministerial conference before the approval of the agreement on the terms of membership by the Ministerial Conference. These negotiations are being initiated in good faith in order to achieve a satisfactory compensatory adjustment for both parties. These negotiations, as requested by Article XXIV, paragraph 6, take due account of tariff reductions made by other elements of the customs union when it was created on the same customs line.
If these reductions are not sufficient to ensure the necessary compensatory adjustment, the customs union would propose countervailing measures that may take the form of tariff reductions on other tariff lines.