Agreement Establishing The World Trade Organization (Wto)

Therefore, a working group to review notifications and counter-communications will be set up, on behalf of the Council, on behalf of the Council, to establish an integrated, more feasible and sustainable multilateral trading system, including the general agreement on tariffs and trade, the results of trade liberalization efforts to date and all the results of the multilateral trade negotiations of the Uruguay round. In light of this review and without prejudice to Article XVII, paragraph 4, point (c), the Council for Trade in Goods can make recommendations on the adequacy of notifications and the need to provide additional information. The working group is also examining, taking into account the notifications received, the adequacy of the aforementioned state trade questionnaire and the coverage of state-owned commercial enterprises notified in accordance with paragraph 1. It also establishes a clear list of the types of relationships between governments and businesses, as well as the activities carried out by these enterprises, which may be useful for the purposes of Article XVII. It is understood that the secretariat will submit a general briefing paper to the working group on the activities of state-owned commercial enterprises in the context of international trade. Participation in the working group is open to all members who say they wish to sit in their positions. It meets within one year of the WTO agreement coming into force and then at least once a year. Every year, it reports to the Council of Goods Trades. [1] The WTO accounts for the bulk of its annual budget revenue from member contributions. These are determined according to a formula based on their share in international trade. Membership decisions are made by the ministerial conference. The Ministerial Conference approves the agreement on the terms of membership by a two-thirds majority of WTO members.

All balance-of-payments restrictions are subject to periodic review in the Committee under Article XII, paragraph 4, paragraph b), or Article XVIII, paragraph 12, point b), subject to the possibility of modifying the periodicity of consultations in agreement with the advisor or as part of a specific review procedure recommended by the General Council. 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. Such an offer is taken into account by members who have binding bargaining rights over the amendment or withdrawal. If the compensatory adjustment remains unacceptable, negotiations should continue. If, despite these efforts, it is not possible to reach an agreement in the negotiations on the adjustment of the compensation under Article XXVIII in accordance with Article XXVIII, as established in the agreement on the interpretation of Article XXVIII of the 1994 GATT, the customs union may be free to amend or withdraw concessions; The members concerned are then free to withdraw substantially equivalent concessions under Article XXVIII.

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