The committee had accept-ed the request from Bangladesh to Swaminathan (India) at the Meeting of the CONTRACTING PARTIES on 31 May 1960: 20/06/1960: L/123 Article XVIII(B) of the GATT code allows developing countries to use tariffs to reduce imports when their balance-of-payments problems result in a low foreign currency reserve. A concession might assume the form of a reduction in the rate of import tariff or an agreement to bind, i.e., not to hike the existing rate of duty. Article XVIII: Governmental Assistance to Economic Development. There is … In the case concerning Malaysia’s import permit system for petrochemical products (DS1), Malaysia resorted to GATT Article XVIII:C as a reason The relevant GATT agreement on this account is Section C of Article XVIII on Governmental Assistance to Economic Development – GATT 1994. However, the Panel noted that in GATT practice there were differences with respect to the procedures of Article XXIII and Article XVIII:B. While the intent of this GATT provision is sound, it has led to moral hazard problems. Restrictions Under Article XVIII: B of the GATT Country Year of Resort Most recent Consultation Measures Circumstance Bangladesh 1962 May 2000 Import restric-tions on agri-cultural prod-ucts Bangladesh was deemed to have ful-filled its obligations under Article XVIII:B. The Article II of the GATT specified that all concessions granted by contracting parties, as a consequence of negotiations under the GATT, must be entered in a ‘Schedule of Concessions’. CONTRACTING PARTIES - Sixteenth Session - [16 May-4 June 1960] - Second Annual Review under Article XVIII:6 - Report of the Panel on Article XVIII: 03/06/1960: L/1229: Avoidance of Market Disruption - Statement by Mr. S.T. Recognition of the position of developing countries and their need for derogations from some trade measures with respect to the GATT Articles, including the support of Infant Industries and remedying Balance of Payments problems. Downloadable! The General Agreement On Tariffs And Trade Article XVIII Governmental Assistance to Economic Development. 1. These exceptions permit the imposition of quantitative measures under limited conditions, and only if they are taken on policy grounds justifiable under the GATT, such as critical shortages of foodstuffs (Article XI:2) or balance of payment problems (Article XVIII:B). While the intent of this GATT provision is sound, it has led to moral hazard problems. However, the GATT provides exceptions to this fundamental principle. While the intent of this GATT provision is sound, it has led to moral hazard problems. Article XVIII(B) of the GATT code allows developing countries to use tariffs to reduce imports when their balance-of-payments problems result in a low foreign currency reserve. Geneva, 4 Oct 99 -- A group of developing countries has called for a complete review of Article XVIII, 'Governmental Assistance to Economic Development' of GATT 1994 to be taken up as an implementation issue and work completed in the first year of negotiations to be launched at Seattle. This chapter reviews the history and safeguards of Article XVIII(B0 and identifies some of its specific moral hazard problems. Article XVIII(B) of the GATT code allows developing countries to use tariffs to reduce imports when their balance-of-payments problems result in a low foreign currency reserve. reasons in GATT Article XVIII:B, the Article XVIII:C procedure allows both broader measures and violations of the national treatment obligations in order to promote domestic infant industries.
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