Copyright 1995 NLCIFT 
 
 
 
BH209.txt 
 
              THE GENERAL AGREEMENT ON TARIFFS AND TRADE (Oct. 30, 1947) 
                        (as amended through 1966) 
 
 
                            TABLE OF CONTENTS 
 
              Preamble 
 
PART I 
 
Article 
  I           General Most-Favoured-Nation Treatment 
  II          Schedules of Concessions 
 
PART II 
 
  III         National Treatment on Internal Taxation and Regulation 
  IV          Special Provisions relating to Cinematograph Films 
  V           Freedom of Transit 
  VI          Anti-dumping and Countervailing Duties 
  VII         Valuation for Customs Purposes 
  VIII        Fees and Formalities connected with Importation and 
                Exportation 
  IX          Marks of Origin 
  X           Publication and Administration of Trade Regulations 
  XI          General Elimination of Quantitative Restrictions 
  XII         Restrictions to Safeguard the Balance of Payments 
  XIII        Non-discriminatory Administration of Quantitative 
                Restrictions 
  XIV         Exceptions to the Rule of Non-discrimination 
  XV          Exchange Arrangements 
  XVI         Subsidies 
  XVII        State Trading Enterprises 
  XVIII       Governmental Assistance to Economic Development 
  XIX         Emergency Action on Imports of Particular Products 
  XX          General Exceptions 
  XXI         Security Exceptions 
  XXII        Consultation 
  XXIII       Nullification or Impairment 
 
PART III 
 
  XXIV        Territorial Application--Frontier Traffic-- 
                Customs Unions and Free-trade Areas 
  XXV         Joint Action by the Contracting Parties 
  XXVI        Acceptance. Entry into Force and Registration 
  XXVII       Withholding or Withdrawal of Concessions 
  XXVIII      Modification of Schedules 
  XXVIII-bis  Tariff Negotiations 
  XXIX        The Relation of this Agreement to the Havana Charter 
  XXX         Amendments 
  XXXI        Withdrawal 
  XXXII       Contracting Parties 
  XXXIII      Accession 
  XXXIV       Annexes 
  XXXV        Non-application of the Agreement between particular 
                Contracting Parties 
 
PART IV  TRADE AND DEVELOPMENT 
 
  XXXVI       Principles and Objectives 
  XXXVII      Commitments 
  XXXVIII     Joint Action 
 
 
Annexes A to G -- Relating to Article I 
Annex H -- Relating to Article XXVI 
Annex I -- Notes and Supplementary Provisions 
 
PROTOCOL OF PROVISIONAL APPLICATION 
 
                            *   *   *   *   * 
 
 
             THE GENERAL AGREEMENT ON TARIFFS AND TRADE 
 
 
The Governments of the COMMONWEALTH OF AUSTRALIA, the KINGDOM OF 
BELGIUM, 
the UNITED STATES of BRAZIL, BURMA, CANADA, CEYLON, the REPUBLIC OF 
CHILE, the REPUBLIC of CHINA, the REPUBLIC OF CUBA, the CZECHOSLOVAK 
REPUBLIC, the FRENCH REPUBLIC, INDIA, LEBANON, the GRAND-DUCHY OF 
LUXEMBURG, the KINGDOM OF THE NETHERLANDS, NEW ZEALAND, the KINGDOM 
OF 
NORWAY, PAKISTAN, SOUTHERN RHODESIA, SYRIA, the UNION OF SOUTH AFRICA, 
the UNITED KINGDOM of GREAT BRITAIN AND NORTHERN IRELAND, and the 
UNITED 
STATES of AMERICA: 
 
Recognizing that their relations in the field of trade and economic 
endeavour should be conducted with a view to raising standards of living, 
ensuring full employment and a large and steadily growing volume of real 
income and effective demand, developing the full use of the resources of 
the world and expanding the production and exchange of goods, 
 
Being desirous of contributing to these objectives by entering into 
reciprocal and mutually advantageous arrangements directed to the 
substantial reduction of tariffs and other barriers to trade and to the 
elimination of discriminatory treatment in international commerce, 
 
Have through their Representatives agreed as follows: 
 
 
                              PART I 
 
                             Article I 
              General Most-Favoured-Nation Treatment 
 
1. With respect to customs duties and charges of any kind imposed on or 
in connection with importation or exportation or imposed on the 
international transfer of payments for imports or exports, and with 
respect to the method of levying such duties and charges, and with 
respect to all rules and formalities in connection with importation and 
exportation, and with respect to all matters referred to in paragraphs 2 
and 4 of Article III, any advantage, favour, privilege or immunity 
granted by any contracting party to any product originating in or 
destined for any other country shall be accorded immediately and 
unconditionally to the like product originating in or destined for the 
territories of all other contracting parties. 
 
2. The provisions of paragraph 1 of this Article shall not require the 
elimination of any preferences in respect of import duties or charges 
which do not exceed the levels provided for in paragraph 4 of this 
Article and which fall within the following descriptions: 
 
 (a)  Preferences in force exclusively between two or more of the 
      territories listed in Annex A, subject to the conditions set forth 
      therein; 
 
 (b)  Preferences in force exclusively between two or more territories 
      which on July 1, 1939, were connected by common sovereignty or 
      relations of protection or suzerainty and which are listed in 
      Annexes B, C and D, subject to the conditions set forth therein; 
 
 (c)  Preferences in force exclusively between the United States of 
      America and the Republic of Cuba; 
 
 (d)  Preferences in force exclusively between neighbouring countries 
      listed in Annexes E and F. 
 
3. The provisions of paragraph 1 shall not apply to preferences between 
the countries formerly a part of the Ottoman Empire and detached from it 
on July 24, 1923, provided such preferences are approved under paragraph 
5 of Article XXV, which shall be applied in this respect in the light of 
paragraph 1 of Article XXIX. 
 
4. The margin of preference on any product in respect of which a 
preference is permitted under paragraph 2 of this Article but is not 
specifically set forth as a maximum margin of preference in the 
appropriate Schedule annexed to this Agreement shall not exceed: 
 
 (a)  in respect of duties or charges on any product described in such 
      Schedule, the difference between the most-favoured-nation and 
      preferential rates provided for therein; if no preferential rate is 
      provided for, the preferential rate shall for the purposes of this 
      paragraph be taken to be that in force on April 10, 1947, and, if 
      no most-favoured-nation rate is provided for, the margin shall not 
      exceed the difference between the most-favoured-nation and 
      preferential rates existing on April 10, 1947; 
 
 (b)  in respect of duties or charges on any product not described in the 
      appropriate Schedule, the difference between the most-favoured 
      nation and preferential rates existing on April 10, 1947. 
 
In the case of the contracting parties named in Annex G, the date of 
April 10, 1947, referred to in sub-paragraphs (a) and (b) of this 
paragraph shall be replaced by the respective dates set forth in that 
Annex. 
 
                              Article II 
                      Schedules of Concessions 
 
1. (a) Each contracting party shall accord to the commerce of the other 
contracting parties treatment no less favourable than that provided for 
in the appropriate Part of the appropriate Schedule annexed to this 
Agreement. 
 
   (b) The products described in Part I of the Schedule relating to any 
contracting party, which are the products of territories of other 
contracting parties, shall, on their importation into the territory to 
which the Schedule relates, and subject to the terms, conditions or 
qualifications set forth in that Schedule, be exempt from ordinary 
customs duties in excess of those set forth and provided for therein. 
Such products shall also be exempt from all other duties or charges of 
any kind imposed on or in connection with importation in excess of those 
imposed on the date of this Agreement or those directly and mandatorily 
required to be imposed thereafter by legislation in force in the 
importing territory on that date. 
 
   (c) The products described in Part II of the Schedule relating to any 
contracting party which are the products of territories entitled under 
Article I to receive preferential treatment upon importation into the 
territory to which the Schedule relates shall, on their importation into 
such territory, and subject to the terms, conditions or qualifications 
set forth in that Schedule, be exempt from ordinary customs duties in 
excess of those set forth and provided for in Part II of that Schedule. 
Such products shall also be exempt from all other duties or charges of 
any kind imposed on or in connection with importation in excess of those 
imposed on the date of this Agreement or those directly and mandatorily 
required to be imposed thereafter by legislation in force in the 
importing territory on that date. Nothing in this Article shall prevent 
any contracting party from maintaining its requirements existing on the 
date of this Agreement as to the eligibility of goods for entry at 
preferential rates of duty. 
 
2. Nothing in this Article shall prevent any contracting party from 
imposing at any time on the importation of any product: 
 
 (a)  a charge equivalent to an internal tax imposed consistently with 
      the provisions of paragraph 2 of Article III in respect of the like 
      domestic product or in respect of an article from which the 
      imported product has been manufactured or produced in whole or in 
      part; 
 
 (b)  any anti-dumping or countervailing duty applied consistently with 
      the provisions of Article VI; 
 
 (c)  fees or other charges commensurate with the cost of services 
      rendered. 
 
3. No contracting party shall alter its method of determining dutiable 
value or of converting currencies so as to impair the value of any of the 
concessions provided for in the appropriate Schedule annexed to this 
Agreement. 
 
4. If any contracting party establishes, maintains or authorizes, 
formally or in effect, a monopoly of the importation of any product 
described in the appropriate Schedule annexed to this Agreement, such 
monopoly shall not, except as provided for in that Schedule or as 
otherwise agreed between the parties which initially negotiated the 
concession, operate so as to afford protection on the average in excess 
of the amount of protection provided for in that Schedule. The provisions 
of this paragraph shall not limit the use by contracting parties of any 
form of assistance to domestic producers permitted by other provisions of 
this Agreement. 
 
5. If any contracting party considers that a product is not receiving 
from another contracting party the treatment which the first contracting 
party believes to have been contemplated by a concession provided for in 
the appropriate Schedule annexed to this Agreement, it shall bring the 
matter directly to the attention of the other contracting party. If the 
latter agrees that the treatment contemplated was that claimed by the 
first contracting party, but declares that such treatment cannot be 
accorded because a court or other proper authority has ruled to the 
effect that the product involved cannot be classified under the tariff 
laws of such contracting party so as to permit the treatment contemplated 
in this Agreement, the two contracting parties, together with any other 
contracting parties substantially interested, shall enter promptly into 
further negotiations with a view to a compensatory adjustment of the 
matter. 
 
6. (a) The specific duties and charges included in the Schedules relating 
to contracting parties members of the International Monetary Fund, and 
margins of preference in specific duties and charges maintained by such 
contracting parties, are expressed in the appropriate currency at the par 
value accepted or provisionally recognized by the Fund at the date of 
this Agreement. Accordingly, in case this par value is reduced 
consistently with the Articles of Agreement of the International Monetary 
Fund by more than twenty per centum, such specific duties and charges and 
margins of preference may be adjusted to take account of such reduction; 
Provided that the CONTRACTING PARTIES (i.e., the contracting parties 
acting jointly as provided for in Article XXV) concur that such 
adjustments will not impair the value of the concessions provided for in 
the appropriate Schedule or elsewhere in this Agreement, due account 
being taken of all factors which may influence the need for, or urgency 
of, such adjustments. 
 
   (b) Similar provisions shall apply to any contracting party not a 
member of the Fund, as from the date on which such contracting party 
becomes a member of the Fund or enters into a special exchange agreement 
in pursuance of Article XV. 
 
7. The Schedules annexed to this Agreement are hereby made an integral 
part of Part I of this Agreement. 
 
 
                                PART II 
 
                              Article III 
       National Treatment on Internal Taxation and Regulation 
 
1. The contracting parties recognize that internal taxes and other 
internal charges, and laws, regulations and requirements affecting the 
internal sale, offering for sale, purchase, transportation, distribution 
or use of products, and internal quantitative regulations requiring the 
mixture, processing or use of products in specified amounts or 
proportions, should not be applied to imported or domestic products so as 
to afford protection to domestic production. 
 
2. The products of the territory of any contracting party imported into 
the territory of any other contracting party shall not be subject, 
directly or indirectly, to internal taxes or other internal charges of 
any kind in excess of those applied, directly or indirectly, to like 
domestic products. Moreover, no contracting party shall otherwise apply 
internal taxes or other internal charges to imported or domestic products 
in a manner contrary to the principles set forth in paragraph 1. 
 
3. With respect to any existing internal tax which is inconsistent with 
the provisions of paragraph 2, but which is specifically authorized under 
a trade agreement, in force on April 10, 1947, in which the import duty 
on the taxed product is bound against increase, the contracting party 
imposing the tax shall be free to postpone the application of the 
provisions of paragraph 2 to such tax until such time as it can obtain 
release from the obligations of such trade agreement in order to permit 
the increase of such duty to the extent necessary to compensate for the 
elimination of the protective element of the tax. 
 
4. The products of the territory of any contracting party imported into 
the territory of any other contracting party shall be accorded treatment 
no less favourable than that accorded to like products of national origin 
in respect of all laws, regulations and requirements affecting their 
internal sale, offering for sale, purchase, transportation, distribution 
or use. The provisions of this paragraph shall not prevent the 
application of differential internal transportation charges which are 
based exclusively on the economic operation of the means of transport and 
not on the nationality of the product. 
 
5. No contracting party shall establish or maintain any internal 
quantitative regulation relating to the mixture, processing or use of 
products in specified amounts or proportions which requires, directly or 
indirectly, that any specified amount or proportion of any product which 
is the subject of the regulation must be supplied from domestic sources. 
Moreover, no contracting party shall otherwise apply internal 
quantitative regulations in a manner contrary to the principles set forth 
in paragraph 1. 
 
6. The provisions of paragraph 5 shall not apply to any internal 
quantitative regulation in force in the territory of any contracting 
party on July 1, 1939, April 10, 1947, or March 24, 1948, at the option 
of that contracting party; Provided that any such regulation which is 
contrary to the provisions of paragraph 5 shall not be modified to the 
detriment of imports and shall be treated as a customs duty for the 
purpose of negotiation. 
 
7. No internal quantitative regulation relating to the mixture, 
processing or use of products in specified amounts or proportions shall 
be applied in such a manner as to allocate any such amount or proportion 
among external sources of supply. 
 
8. (a) The provisions of this Article shall not apply to laws, 
regulations or requirements governing the procurement by governmental 
agencies of products purchased for governmental purposes and not with a 
view to commercial resale or with a view to use in the production of 
goods for commercial sale. 
 
   (b) The provisions of this Article shall not prevent the payment of 
subsidies exclusively to domestic producers, including payments to 
domestic producers derived from the proceeds of internal taxes or charges 
applied consistently with the provisions of this Article and subsidies 
effected through governmental purchases of domestic products. 
 
9. The contracting parties recognize that internal maximum price control 
measures, even though conforming to the other provisions of this Article, 
can have effects prejudicial to the interests of contracting parties 
supplying imported products. Accordingly, contracting parties applying 
such measures shall take account of the interests of exporting 
contracting parties with a view to avoiding to the fullest practicable 
extent such prejudicial effects. 
 
10. The provisions of this Article shall not prevent any contracting 
party from establishing or maintaining internal quantitative regulations 
relating to exposed cinematograph films and meeting the requirements of 
Article IV. 
 
                              Article IV 
       Special Provisions relating to Cinematograph Films 
 
If any contracting party establishes or maintains internal quantitative 
regulations relating to exposed cinematograph films, such regulations 
shall take the form of screen quotas which shall conform to the following 
requirements: 
 
 (a)  Screen quotas may require the exhibition of cinematograph films of 
      national origin during a specified minimum proportion of the total 
      screen time actually utilized, over a specified period of not less 
      than one year, in the commercial exhibition of all films of 
      whatever origin, and shall be computed on the basis of screen time 
      per theatre per year or the equivalent thereof; 
 
 (b)  With the exception of screen time reserved for films of national 
      origin under a screen quota, screen time including that released by 
      administrative action from screen time reserved for films of 
      national origin, shall not be allocated formally or in effect among 
      sources of supply; 
 
 (c)  Notwithstanding the provisions of sub-paragraph (b) of this 
      Article, any contracting party may maintain screen quotas 
      conforming to the requirements of sub-paragraph (a) of this Article 
      which reserve a minimum proportion of screen time for films of a 
      specified origin other than that of the contracting party imposing 
      such screen quotas; Provided that no such minimum proportion of 
      screen time shall be increased above the level in effect on April 
      10, 1947; 
 
 (d)  Screen quotas shall be subject to negotiation for their limitation, 
      liberalization or elimination. 
 
                              Article V 
                         Freedom of Transit 
 
1. Goods (including baggage), and also vessels and other means of 
transport, shall be deemed to be in transit across the territory of a 
contracting party when the passage across such territory, with or without 
trans-shipment, warehousing, breaking bulk, or change in the mode of 
transport, is only a portion of a complete journey beginning and 
terminating beyond the frontier of the contracting party across whose 
territory the traffic passes. Traffic of this nature is termed in this 
Article " traffic in transit ". 
 
2. There shall be freedom of transit through the territory of each 
contracting party, via the routes most convenient for international 
transit, for traffic in transit to or from the territory of other 
contracting parties. No distinction shall be made which is based on the 
flag of vessels, the place of origin, departure, entry, exit or 
destination, or on any circumstances relating to the ownership of goods, 
of vessels or of other means of transport. 
 
3. Any contracting party may require that traffic in transit through its 
territory be entered at the proper custom house, but, except in cases of 
failure to comply with applicable customs laws and regulations, such 
traffic coming from or going to the territory of other contracting 
parties shall not be subject to any unnecessary delays or restrictions 
and shall be exempt from customs duties and from all transit duties or 
other charges imposed in respect of transit, except charges for 
transportation or those commensurate with administrative expenses 
entailed by transit or with the cost of services rendered. 
 
4. All charges and regulations imposed by contracting parties on traffic 
in transit to or from the territories of other contracting parties shall 
be reasonable, having regard to the conditions of the traffic. 
 
5. With respect to all charges, regulations and formalities in connection 
with transit, each contracting party shall accord to traffic in transit 
to or from the territory of any other contracting party treatment no less 
favourable than the treatment accorded to traffic in transit to or from 
any third country. 
 
6. Each contracting party shall accord to products which have been in 
transit through the territory of any other contracting party treatment no 
less favourable than that which would have been accorded to such products 
had they been transported from their place of origin to their destination 
without going through the territory of such other contracting party. Any 
contracting party shall, however, be free to maintain its requirements of 
direct consignment existing on the date of this Agreement, in respect of 
any goods in regard to which such direct consignment is a requisite 
condition of eligibility for entry of the goods at preferential rates of 
duty or has relation to the contracting party's prescribed method of 
valuation for duty purposes. 
 
7. The provisions of this Article shall not apply to the operation of 
aircraft in transit, but shall apply to air transit of goods (including 
baggage). 
 
                              Article VI 
               Anti-dumping and Countervailing Duties 
 
1. The contracting parties recognize that dumping, by which products of 
one country are introduced into the commerce of another country at less 
than the normal value of the products, is to be condemned if it causes or 
threatens material injury to an established industry in the territory of 
a contracting party or materially retards the establishment of a domestic 
industry. For the purposes of this Article, a product is to be considered 
as being introduced into the commerce of an importing country at less 
than its normal value, if the price of the product exported from one 
country to another 
 
 (a)  is less than the comparable price, in the ordinary course of trade, 
      for the like product when destined for consumption in the exporting 
      country, or, 
 
 (b)  in the absence of such domestic price, is less than either 
 
      (i)   the highest comparable price for the like product for export 
            to any third country in the ordinary course of trade, or 
 
      (ii)  the cost of production of the product in the country of 
            origin plus a reasonable addition for selling cost and 
            profit. 
 
Due allowance shall be made in each case for differences in conditions 
and terms of sale, for differences in taxation, and for other differences 
affecting price comparability. 
 
2. In order to offset or prevent dumping, a contracting party may levy on 
any dumped product an anti-dumping duty not greater in amount than the 
margin of dumping in respect of such product. For the purposes of this 
Article, the margin of dumping is the price difference determined in 
accordance with the provisions of paragraph 1. 
 
3. No countervailing duty shall be levied on any product of the territory 
of any contracting party imported into the territory of another 
contracting party in excess of an amount equal to the estimated bounty or 
subsidy determined to have been granted, directly or indirectly, on the 
manufacture, production or export of such product in the country of 
origin or exportation, including any special subsidy to the 
transportation of a particular product. The term "countervailing duty" 
shall be understood to mean a special duty levied for the purpose of 
offsetting any bounty or subsidy bestowed, directly or indirectly, upon 
the manufacture, production or export of any merchandise. 
 
4. No product of the territory of any contracting party imported into the 
territory of any other contracting party shall be subject to anti-dumping 
or countervailing duty by reason of the exemption of such product from 
duties or taxes borne by the like product when destined for consumption 
in the country of origin or exportation, or by reason of the refund of 
such duties or taxes. 
 
5. No product of the territory of any contracting party imported into the 
territory of any other contracting party shall be subject to both anti- 
dumping and countervailing duties to compensate for the same situation of 
dumping or export subsidization. 
 
6. (a) No contracting party shall levy any anti-dumping or countervailing 
duty on the importation of any product of the territory of another 
contracting party unless it determines that the effect of the dumping or 
subsidization, as the case may be, is such as to cause or threaten 
material injury to an established domestic industry, or is such as to 
retard materially the establishment of a domestic industry. 
 
   (b) The CONTRACTING PARTIES may waive the requirement of subparagraph 
(a) of this paragraph so as to permit a contracting party to levy an 
anti-dumping or countervailing duty on the importation of any product for 
the purpose of offsetting dumping or subsidization which causes or 
threatens material injury to an industry in the territory of another 
contracting party exporting the product concerned to the territory of the 
importing contracting party. The CONTRACTING PARTIES shall waive the 
requirements of sub-paragraph (a) of this paragraph, so as to permit the 
levying of a countervailing duty, in cases in which they find that a 
subsidy is causing or threatening material injury to an industry in the 
territory of another contracting party exporting the product concerned to 
the territory of the importing contracting party. 
 
   (c) In exceptional circumstances, however, where delay might cause 
damage which would be difficult to repair, a contracting party may levy a 
countervailing duty for the purpose referred to in sub-paragraph (b) of 
this paragraph without the prior approval of the CONTRACTING PARTIES; 
Provided that such action shall be reported immediately to the 
CONTRACTING PARTIES and that the countervailing duty shall be withdrawn 
promptly if the CONTRACTING PARTIES disapprove. 
 
7. A system for the stabilization of the domestic price or of the return 
to domestic producers of a primary commodity, independently of the 
movements of export prices, which results at times in the sale of the 
commodity for export at a price lower than the comparable price charged 
for the like commodity to buyers in the domestic market, shall be 
presumed not to result in material injury within the meaning of paragraph 
6 if it is determined by consultation among the contracting parties 
substantially interested in the commodity concerned that: 
 
 (a)  the system has also resulted in the sale of the commodity for 
      export at a price higher than the comparable price charged for the 
      like commodity to buyers in the domestic market, and 
 
 (b)  the system is so operated, either because of the effective 
      regulation of production, or otherwise, as not to stimulate exports 
      unduly or otherwise seriously prejudice the interests of other 
      contracting parties. 
 
                              Article VII 
                   Valuation for Customs Purposes 
 
1. The contracting parties recognize the validity of the general 
principles of valuation set forth in the following paragraphs of this 
Article, and they undertake to give effect to such principles, in respect 
of all products subject to duties or other charges or restrictions on 
importation and exportation based upon or regulated in any manner by 
value. Moreover, they shall, upon a request by another contracting party 
review the operation of any of their laws or regulations relating to 
value for customs purposes in the light of these principles. The 
CONTRACTING PARTIES may request from contracting parties reports on steps 
taken by them in pursuance of the provisions of this Article. 
 
2. (a) The value for customs purposes of imported merchandise should be 
based on the actual value of the imported merchandise on which duty is 
assessed, or of like merchandise, and should not be based on the value of 
merchandise of national origin or on arbitrary or fictitious values. 
 
   (b) "Actual value" should be the price at which, at a time and place 
determined by the legislation of the country of importation, such or like 
merchandise is sold or offered for sale in the ordinary course of trade 
under fully competitive conditions. To the extent to which the price of 
such or like merchandise is governed by the quantity in a particular 
transaction, the price to be considered should uniformly be related to 
either (i) comparable quantities, or (ii) quantities not less favourable 
to importers than those in which the greater volume of the merchandise is 
sold in the trade between the countries of exportation and importation. 
 
   (c) When the actual value is not ascertainable in accordance with 
sub-paragraph (b) of this paragraph, the value for customs purposes 
should be based on the nearest ascertainable equivalent of such value. 
 
3. The value for customs purposes of any imported product should not 
include the amount of any internal tax, applicable within the country of 
origin or export, from which the imported product has been exempted or 
has been or will be relieved by means of refund. 
 
4. (a) Except as otherwise provided for in this paragraph, where it is 
necessary for the purposes of paragraph 2 of this Article for a 
contracting party to convert into its own currency a price expressed in 
the currency of another country, the conversion rate of exchange to be 
used shall be based, for each currency involved, on the par value as 
established pursuant to the Articles of Agreement of the International 
Monetary Fund or on the rate of exchange recognized by the Fund, or on 
the par value established in accordance with a special exchange agreement 
entered into pursuant to Article XV of this Agreement. 
 
   (b) Where no such established par value and no such recognized rate of 
exchange exist, the conversion rate shall reflect effectively the current 
value of such currency in commercial transactions. 
 
   (c) The CONTRACTING PARTIES, in agreement with the International 
Monetary Fund, shall formulate rules governing the conversion by 
contracting parties of any foreign currency in respect of which multiple 
rates of exchange are maintained consistently with the Articles of 
Agreement of the International Monetary Fund. Any contracting party may 
apply such rules in respect of such foreign currencies for the purposes 
of paragraph 2 of this Article as an alternative to the use of par 
values. Until such rules are adopted by the CONTRACTING PARTIES, any 
contracting party may employ, in respect of any such foreign currency, 
rules of conversion for the purposes of paragraph 2 of this Article which 
are designed to reflect effectively the value of such foreign currency in 
commercial transactions. 
 
   (d) Nothing in this paragraph shall be construed to require any 
contracting party to alter the method of converting currencies for 
customs purposes which is applicable in its territory on the date of this 
Agreement, if such alteration would have the effect of increasing 
generally the amounts of duty payable. 
 
5. The bases and methods for determining the value of products subject to 
duties or other charges or restrictions based upon or regulated in any 
manner by value should be stable and should be given sufficient publicity 
to enable traders to estimate, with a reasonable degree of certainty, the 
value for customs purposes. 
 
                              Article VIII 
   Fees and Formalities connected with Importation and Exportation 
 
1. (a) All fees and charges of whatever character (other than import and 
export duties and other than taxes within the purview of Article III) 
imposed by contracting parties on or in connexion with importation or 
exportation shall be limited in amount to the approximate cost of 
services rendered and shall not represent an indirect protection to 
domestic products or a taxation of imports or exports for fiscal 
purposes. 
 
   (b) The contracting parties recognize the need for reducing the number 
and diversity of fees and charges referred to in sub-paragraph (a). 
 
   (c) The contracting parties also recognize the need for minimizing the 
incidence and complexity of import and export formalities and for 
decreasing and simplifying import and export documentation requirements. 
 
2. A contracting party shall, upon request by another contracting party 
or by the CONTRACTING PARTIES, review the operation of its laws and 
regulations in the light of the provisions of this Article. 
 
3. No contracting party shall impose substantial penalties for minor 
breaches of customs regulations or procedural requirements. In 
particular, no penalty in respect of any omission or mistake in customs 
documentation which is easily rectifiable and obviously made without 
fraudulent intent or gross negligence shall be greater than necessary to 
serve merely as a warning. 
 
4. The provisions of this Article shall extend to fees, charges, 
formalities and requirements imposed by governmental authorities in 
connexion with importation and exportation, including those relating to: 
 
 (a)  consular transactions, such as consular invoices and certificates; 
 (b)  quantitative restrictions; 
 (c)  licensing; 
 (d)  exchange control; 
 (e)  statistical services; 
 (f)  documents, documentation and certification; 
 (g)  analysis and inspection; and 
 (h)  quarantine, sanitation and fumigation. 
 
                              Article IX 
                           Marks of Origin 
 
1. Each contracting party shall accord to the products of the territories 
of other contracting parties treatment with regard to marking 
requirements no less favourable than the treatment accorded to like 
products of any third country. 
 
2. The contracting parties recognize that, in adopting and enforcing laws 
and regulations relating to marks of origin, the difficulties and 
inconveniences which such measures may cause to the commerce and industry 
of exporting countries should be reduced to a minimum, due regard being 
had to the necessity of protecting consumers against fraudulent or 
misleading indications. 
 
3. Whenever it is administratively practicable to do so, contracting 
parties should permit required marks of origin to be affixed at the time 
of importation. 
 
4. The laws and regulations of contracting parties relating to the 
marking of imported products shall be such as to permit compliance 
without seriously damaging the products, or materially reducing their 
value, or unreasonably increasing their cost. 
 
5. As a general rule, no special duty or penalty should be imposed by any 
contracting party for failure to comply with marking requirements prior 
to importation unless corrective marking is unreasonably delayed or 
deceptive marks have been affixed or the required marking has been 
intentionally omitted. 
 
6. The contracting parties shall co-operate with each other with a view 
to preventing the use of trade names in such manner as to misrepresent 
the true origin of a product, to the detriment of such distinctive 
regional or geographical names of products of the territory of a 
contracting party as are protected by its legislation. Each contracting 
party shall accord full and sympathetic consideration to such requests or 
representations as may be made by any other contracting party regarding 
the application of the undertaking set forth in the preceding sentence to 
names of products which have been communicated to it by the other 
contracting party. 
 
                              Article X 
       Publication and Administration of Trade Regulations 
 
1. Laws, regulations, judicial decisions and administrative rulings of 
general application, made effective by any contracting party, pertaining 
to the classification or the valuation of products for customs purposes, 
or to rates of duty, taxes or other charges, or to requirements, 
restrictions or prohibitions on imports or exports or on the transfer of 
payments therefor, or affecting their sale, distribution, transportation, 
insurance, warehousing, inspection, exhibition, processing, mixing or 
other use, shall be published promptly in such a manner as to enable 
governments and traders to become acquainted with them. Agreements 
affecting international trade policy which are in force between the 
government or a governmental agency of any contracting party and the 
government or governmental agency of any other contracting party shall 
also be published. The provisions of this paragraph shall not require any 
contracting party to disclose confidential information which would impede 
law enforcement or otherwise be contrary to the public interest or would 
prejudice the legitimate commercial interests of particular enterprises, 
public or private. 
 
2. No measure of general application taken by any contracting party 
effecting an advance in a rate of duty or other charge on imports under 
an established and uniform practice, or imposing a new or more burdensome 
requirement, restriction or prohibition on imports, or on the transfer of 
payments therefor, shall be enforced before such measure has been 
officially published. 
 
3. (a) Each contracting party shall administer in a uniform, impartial 
and reasonable manner all its laws, regulations, decisions and rulings of 
the kind described in paragraph 1 of this Article. 
 
   (b) Each contracting party shall maintain, or institute as soon as 
practicable, judicial, arbitral or administrative tribunals or procedures 
for the purpose, inter alia, of the prompt review and correction of 
administrative action relating to customs matters. Such tribunals or 
procedures shall be independent of the agencies entrusted with 
administrative enforcement and their decisions shall be implemented by, 
and shall govern the practice of, such agencies unless an appeal is 
lodged with a court or tribunal of superior jurisdiction within the time 
prescribed for appeals to be lodged by importers; Provided that the 
central administration of such agency may take steps to obtain a review 
of the matter in another proceeding if there is good cause to believe 
that the decision is inconsistent with established principles of law or 
the actual facts. 
 
   (c) The provisions of sub-paragraph (b) of this paragraph shall not 
require the elimination or substitution of procedures in force in the 
territory of a contracting party on the date of this Agreement which in 
fact provide for an objective and impartial review of administrative 
action even though such procedures are not fully or formally independent 
of the agencies entrusted with administrative enforcement. Any 
contracting party employing such procedures shall, upon request, furnish 
the CONTRACTING PARTIES with full information thereon in order that they 
may determine whether such procedures conform to the requirements of this 
sub-paragraph. 
 
                              Article XI 
         General Elimination of Quantitative Restrictions 
 
1. No prohibitions or restrictions other than duties, taxes or other 
charges, whether made effective through quotas, import or export licences 
or other measures, shall be instituted or maintained by any contracting 
party on the importation of any product of the territory of any other 
contracting party or on the exportation or sale for export of any product 
destined for the territory of any other contracting party. 
 
2. The provisions of paragraph I of this Article shall not extend to the 
following: 
 
 (a)  Export prohibitions or restrictions temporarily applied to prevent 
      or relieve critical shortages of foodstuffs or other products 
      essential to the exporting contracting party; 
 
 (b)  Import and export prohibitions or restrictions necessary to the 
      application of standards or regulations for the classification, 
      grading or marketing of commodities in international trade; 
 
 (c)  Import restrictions on any agricultural or fisheries product, 
      imported in any form, necessary to the enforcement of governmental 
      measures which operate: 
 
      (i)   to restrict the quantities of the like domestic product 
            permitted to be marketed or produced, or, if there is no 
            substantial domestic production of the like product, of a 
            domestic product for which the imported product can be 
            directly substituted; or 
 
      (ii)  to remove a temporary surplus of the like domestic product, 
            or, if there is no substantial domestic production of the 
            like product, of a domestic product for which the imported 
            product can be directly substituted, by making the surplus 
            available to certain groups of domestic consumers free of 
            charge or at prices below the current market level; or 
 
      (iii) to restrict the quantities permitted to be produced of any 
            animal product the production of which is directly dependent, 
            wholly or mainly, on the imported commodity, if the domestic 
            production of that commodity is relatively negligible. 
 
Any contracting party applying restrictions on the importation of any 
product pursuant to sub-paragraph (c) of this paragraph shall give public 
notice of the total quantity or value of the product permitted to be 
imported during a specified future period and of any change in such 
quantity or value. Moreover, any restrictions applied under (i) above 
shall not be such as will reduce the total of imports relative to the 
total of domestic production, as compared with the proportion which might 
reasonably be expected to rule between the two in the absence of 
restrictions. In determining this proportion, the contracting party shall 
pay due regard to the proportion prevailing during a previous 
representative period and to any special factors which may have affected 
or may be affecting the trade in the product concerned. 
 
                              Article XII 
         Restrictions to Safeguard the Balance of Payments 
 
1. Notwithstanding the provisions of paragraph 1 of Article XI, any 
contracting party, in order to safeguard its external financial position 
and its balance of payments, may restrict the quantity or value of 
merchandise permitted to be imported, subject to the provisions of the 
following paragraphs of this Article. 
 
2. (a) Import restrictions instituted, maintained or intensified by a 
contracting party under this Article shall not exceed those necessary: 
 
      (i)   to forestall the imminent threat of, or to stop, a serious 
            decline in its monetary reserves, or 
 
      (ii)  in the case of a contracting party with very low monetary 
            reserves, to achieve a reasonable rate of increase in its 
            reserves. 
 
Due regard shall be paid in either case to any special factors which may 
be affecting the reserves of such contracting party or its need for 
reserves, including, where special external credits or other resources 
are available to it, the need to provide for the appropriate use of such 
credits or resources. 
 
   (b) Contracting parties applying restrictions under sub-paragraph (a) 
of this paragraph shall progressively relax them as such conditions 
improve, maintaining them only to the extent that the conditions 
specified in that sub-paragraph still justify their application. They 
shall eliminate the restrictions when conditions would no longer justify 
their institution or maintenance under that sub-paragraph. 
 
3. (a) Contracting parties undertake, in carrying out their domestic 
policies, to pay due regard to the need for maintaining or restoring 
equilibrium in their balance of payments on a sound and lasting basis and 
to the desirability of avoiding an uneconomic employment of productive 
resources. They recognize that, in order to achieve these ends, it is 
desirable so far as possible to adopt measures which expand rather than 
contract international trade. 
 
   (b) Contracting parties applying restrictions under this Article may 
determine the incidence of the restrictions on imports of different 
products or classes of products in such a way as to give priority to the 
importation of those products which are more essential. 
 
   (c) Contracting parties applying restrictions under this Article 
undertake: 
 
      (i)   to avoid unnecessary damage to the commercial or economic 
            interests of any other contracting party; 
 
      (ii)  not to apply restrictions so as to prevent unreasonably the 
            importation of any description of goods in minimum commercial 
            quantities the exclusion of which would impair regular 
            channels of trade; and 
 
      (iii) not to apply restrictions which would prevent the importation 
            of commercial samples or prevent compliance with patent, 
            trade mark, copyright, or similar procedures. 
 
   (d) The contracting parties recognize that, as a result of domestic 
policies directed towards the achievement and maintenance of full and 
productive employment or towards the development of economic resources, a 
contracting party may experience a high level of demand for imports 
involving a threat to its monetary reserves of the sort referred to in 
paragraph 2(a) of this Article. Accordingly, a contracting party 
otherwise complying with the provisions of this Article shall not be 
required to withdraw or modify restrictions on the ground that a change 
in those policies would render unnecessary restrictions which it is 
applying under this Article. 
 
4. (a) Any contracting party applying new restrictions or raising the 
general level of its existing restrictions by a substantial 
intensification of the measures applied under this Article shall 
immediately after instituting or intensifying such restrictions (or, in 
circumstances in which prior consultation is practicable, before doing 
so) consult with the CONTRACTING PARTIES as to the nature of its balance 
of payments difficulties, alternative corrective measures which may be 
available, and the possible effect of the restrictions on the economies 
of other contracting parties. 
 
   (b) On a date to be determined by them, the CONTRACTING PARTIES shall 
review all restrictions still applied under this Article on that date. 
Beginning one year after that date, contracting parties applying import 
restrictions under this Article shall enter into consultations of the 
type provided for in sub-paragraph (a) of this paragraph with the 
CONTRACTING PARTIES annually. 
 
   (c) (i) If, in the course of consultations with a contracting party 
under sub-paragraph (a) or (b) above, the CONTRACTING PARTIES find that 
the restrictions are not consistent with the provisions of this Article 
or with those of Article XIII (subject to the provisions of Article XIV), 
they shall indicate the nature of the inconsistency and may advise that 
the restrictions be suitably modified. 
 
      (ii) If, however, as a result of the consultations, the CONTRACTING 
PARTIES determine that the restrictions are being applied in a manner 
involving an inconsistency of a serious nature with the provisions of 
this Article or with those of Article XIII (subject to the provisions of 
Article XIV) and that damage to the trade of any contracting party is 
caused or threatened thereby, they shall so inform the contracting party 
applying the restrictions and shall make appropriate recommendations for 
securing conformity with such provisions within a specified period of 
time. If such contracting party does not comply with these 
recommendations within the specified period, the CONTRACTING PARTIES may 
release any contracting party the trade of which is adversely affected by 
the restrictions from such obligations under this Agreement towards the 
contracting party applying the restrictions as they determine to be 
appropriate in the circumstances. 
 
   (d) The CONTRACTING PARTIES shall invite any contracting party which 
is applying restrictions under this Article to enter into consultations 
with them at the request of any contracting party which can establish a 
prima facie case that the restrictions are inconsistent with the 
provisions of this Article or with those of Article XIII (subject to the 
provisions of Article XIV) and that its trade is adversely affected 
thereby. However, no such invitation shall be issued unless the 
CONTRACTING PARTIES have ascertained that direct discussions between the 
contracting parties concerned have not been successful. If, as a result 
of the consultations with the CONTRACTING PARTIES, no agreement is 
reached and they determine that the restrictions are being applied 
inconsistently with such provisions, and that damage to the trade of the 
contracting party initiating the procedure is caused or threatened 
thereby, they shall recommend the withdrawal or modification of the 
restrictions. If the restrictions are not withdrawn or modified within 
such time as the CONTRACTING PARTIES may prescribe, they may release the 
contracting party initiating the procedure from such obligations under 
this Agreement towards the contracting party applying the restrictions as 
they determine to be appropriate in the circumstances. 
 
   (e) In proceeding under this paragraph, the CONTRACTING PARTIES shall 
have due regard to any special external factors adversely affecting the 
export trade of the contracting party applying restrictions. 
 
   (f) Determinations under this paragraph shall be rendered 
expeditiously and, if possible, within sixty days of the initiation of 
the consultations. 
 
5. If there is a persistent and widespread application of import 
restrictions under this Article, indicating the existence of a general 
disequilibrium which is restricting international trade, the CONTRACTING 
PARTIES shall initiate discussions to consider whether other measures 
might be taken, either by those contracting parties the balances of 
payments of which are under pressure or by those the balances of payments 
of which are tending to be exceptionally favourable, or by any 
appropriate intergovernmental organization, to remove the underlying 
causes of the disequilibrium. On the invitation of the CONTRACTING 
PARTIES, contracting parties shall participate in such discussions. 
 
                              Article XIII 
   Non-discriminatory Administration of Quantitative Restrictions 
 
1. No prohibition or restriction shall be applied by any contracting 
party on the importation of any product of the territory of any other 
contracting party or on the exportation of any product destined for the 
territory of any other contracting party, unless the importation of the 
like product of all third countries or the exportation of the like 
product to all third countries is similarly prohibited or restricted. 
 
2. In applying import restrictions to any product, contracting parties 
shall aim at a distribution of trade in such product approaching as 
closely as possible the shares which the various contracting parties 
might be expected to obtain in the absence of such restrictions, and to 
this end shall observe the following provisions: 
 
 (a)  Wherever practicable, quotas representing the total amount of 
      permitted imports (whether allocated among supplying countries or 
      not) shall be fixed, and notice given of their amount in accordance 
      with paragraph 3 (b) of this Article; 
 
 (b)  In cases in which quotas are not practicable, the restrictions may 
      be applied by means of import licences or permits without a quota; 
 
 (c)  Contracting parties shall not, except for purposes of operating 
      quotas allocated in accordance with sub-paragraph (d) of this 
      paragraph, require that import licences or permits be utilized for 
      the importation of the product concerned from a particular country 
      or source; 
 
 (d)  In cases in which a quota is allocated among supplying countries, 
      the contracting party applying the restrictions may seek agreement 
      with respect to the allocation of shares in the quota with all 
      other contracting parties having a substantial interest in 
      supplying the product concerned. In cases in which this method is 
      not reasonably practicable, the contracting party concerned shall 
      allot to contracting parties having a substantial interest in 
      supplying the product shares based upon the proportions, supplied 
      by such contracting parties during a previous representative 
      period, of the total quantity or value of imports of the product, 
      due account being taken of any special factors which may have 
      affected or may be affecting the trade in the product. No 
      conditions or formalities shall be imposed which would prevent any 
      contracting party from utilizing fully the share of any such total 
      quantity or value which has been allotted to it, subject to 
      importation being made within any prescribed period to which the 
      quota may relate. 
 
3. (a) In cases in which import licences are issued in connection with 
import restrictions, the contracting party applying the restrictions 
shall provide, upon the request of any contracting party having an 
interest in the trade in the product concerned, all relevant information 
concerning the administration of the restrictions, the import licences 
granted over a recent period and the distribution of such licences among 
supplying countries; Provided that there shall be no obligation to supply 
information as to the names of importing or supplying enterprises. 
 
   (b) In the case of import restrictions involving the fixing of quotas, 
the contracting party applying the restrictions shall give public notice 
of the total quantity or value of the product or products which will be 
permitted to be imported during a specified future period and of any 
change in such quantity or value. Any supplies of the product in question 
which were en route at the time at which public notice was given shall 
not be excluded from entry; Provided that they may be counted so far as 
practicable, against the quantity permitted to be imported in the period 
in question, and also, where necessary, against the quantities permitted 
to be imported in the next following period or periods; and Provided 
further that if any contracting party customarily exempts from such 
restrictions products entered for consumption or withdrawn from warehouse 
for consumption during a period of thirty days after the day of such 
public notice, such practice shall be considered full compliance with 
this sub-paragraph. 
 
   (c) In the case of quotas allocated among supplying countries, the 
contracting party applying the restrictions shall promptly inform all 
other contracting parties having an interest in supplying the product 
concerned of the shares in the quota currently allocated, by quantity or 
value, to the various supplying countries and shall give public notice 
thereof. 
 
4. With regard to restrictions applied in accordance with paragraph 2 (d) 
of this Article or under paragraph 2 (c) of Article XI, the selection of 
a representative period for any product and the appraisal of any special 
factors affecting the trade in the product shall be made initially by the 
contracting party applying the restriction; Provided that such 
contracting party shall, upon the request of any other contracting party 
having a substantial interest in supplying that product or upon the 
request of the CONTRACTING PARTIES, consult promptly with the other 
contracting party or the CONTRACTING PARTIES regarding the need for an 
adjustment of the proportion determined or of the base period selected, 
or for the reappraisal of the special factors involved, or for the 
elimination of conditions, formalities or any other provisions 
established unilaterally relating to the allocation of an adequate quota 
or its unrestricted utilization. 
 
5. The provisions of this Article shall apply to any tariff quota 
instituted or maintained by any contracting party, and, in so far as 
applicable, the principles of this Article shall also extend to export 
restrictions. 
 
                              Article XIV 
            Exceptions to the Rule of Non-discrimination 
 
1. A contracting party which applies restrictions under Article XII or 
under Section B of Article XVIII may, in the application of such 
restrictions, deviate from the provisions of Article XIII in a manner 
having equivalent effect to restrictions on payments and transfers for 
current international transactions which that contracting party may at 
that time apply under Article VIII or XIV of the Articles of Agreement of 
the International Monetary Fund, or under analogous provisions of a 
special exchange agreement entered into pursuant to paragraph 6 of 
Article XV. 
 
2. A contracting party which is applying import restrictions under 
Article XII or under Section B of Article XVIII may, with the consent of 
the CONTRACTING PARTIES, temporarily deviate from the provisions of 
Article XIII in respect of a small part of its external trade where the 
benefits to the contracting party or contracting parties concerned 
substantially outweigh any injury which may result to the trade of other 
contracting parties. 
 
3. The provisions of Article XIII shall not preclude a group of 
territories having a common quota in the International Monetary Fund from 
applying against imports from other countries, but not among themselves, 
restrictions in accordance with the provisions of Article XII or of 
Section B of Article XVIII on condition that such restrictions are in all 
other respects consistent with the provisions of Article XIII. 
 
4. A contracting party applying import restrictions under Article XII or 
under Section B of Article XVIII shall not be precluded by Articles XI to 
XV or Section B of Article XVIII of this Agreement from applying measures 
to direct its exports in such a manner as to increase its earnings of 
currencies which it can use without deviation from the provisions of 
Article XIII. 
 
5. A contracting party shall not be precluded by Articles XI to XV, 
inclusive, or by Section B of Article XVIII, of this Agreement from 
applying quantitative restrictions: 
 
 (a)  having equivalent effect to exchange restrictions authorized under 
      Section 3 (b) of Article VII of the Articles of Agreement of the 
      International Monetary Fund, or 
 
 (b)  under the preferential arrangements provided for in Annex A of this 
      Agreement, pending the outcome of the negotiations referred to 
      therein. 
 
                              Article XV 
                        Exchange Arrangements 
 
1. The CONTRACTING PARTIES shall seek co-operation with the International 
Monetary Fund to the end that the CONTRACTING PARTIES and the Fund may 
pursue a co-ordinated policy with regard to exchange questions within the 
jurisdiction of the Fund and questions of quantitative restrictions and 
other trade measures within the jurisdiction of the CONTRACTING PARTIES. 
 
2. In all cases in which the CONTRACTING PARTIES are called upon to 
consider or deal with problems concerning monetary reserves, balances of 
payments or foreign exchange arrangements, they shall consult fully with 
the International Monetary Fund. In such consultations, the CONTRACTING 
PARTIES shall accept all findings of statistical and other facts 
presented by the Fund relating to foreign exchange, monetary reserves and 
balances of payments, and shall accept the determination of the Fund as 
to whether action by a contracting party in exchange matters is in 
accordance with the Articles of Agreement of the International Monetary 
Fund, or with the terms of a special exchange agreement between that 
contracting party and the CONTRACTING PARTIES. The CONTRACTING PARTIES, 
in reaching their final decision in cases involving the criteria set 
forth in paragraph 2 (a) of Article XII or in paragraph 9 of Article 
XVIII, shall accept the determination of the Fund as to what constitutes 
a serious decline in the contracting party's monetary reserves, a very 
low level of its monetary reserves or a reasonable rate of increase in 
its monetary reserves, and as to the financial aspects of other matters 
covered in consultation in such cases. 
 
3. The CONTRACTING PARTIES shall seek agreement with the Fund regarding 
procedures for consultation under paragraph 2 of this Article. 
 
4. Contracting parties shall not, by exchange action, frustrate the 
intent of the provisions of this Agreement, nor, by trade action, the 
intent of the provisions of the Articles of Agreement of the 
International Monetary Fund. 
 
5. If the CONTRACTING PARTIES consider, at any time, that exchange 
restrictions on payments and transfers in connexion with imports are 
being applied by a contracting party in a manner inconsistent with the 
exceptions provided for in this Agreement for quantitative restrictions, 
they shall report thereon to the Fund. 
 
6. Any contracting party which is not a member of the Fund shall, within 
a time to be determined by the CONTRACTING PARTIES after consultation 
with the Fund, become a member of the Fund, or, failing that, enter into 
a special exchange agreement with the CONTRACTING PARTIES. A contracting 
party which ceases to be a member of the Fund shall forthwith enter into 
a special exchange agreement with the CONTRACTING PARTIES. Any special 
exchange agreement entered into by a contracting party under this 
paragraph shall thereupon become part of its obligations under this 
Agreement. 
 
7. (a) A special exchange agreement between a contracting party and the 
CONTRACTING PARTIES under paragraph 6 of this Article shall provide to 
the satisfaction of the CONTRACTING PARTIES that the objectives of this 
Agreement will not be frustrated as a result of action in exchange 
matters by the contracting party in question. 
 
   (b) The terms of any such agreement shall not impose obligations on 
the contracting party in exchange matters generally more restrictive than 
those imposed by the Articles of Agreement of the International Monetary 
Fund on members of the Fund. 
 
8. A contracting party which is not a member of the Fund shall furnish 
such information within the general scope of section 5 of Article VIII of 
the Articles of Agreement of the International Monetary Fund as the 
CONTRACTING PARTIES may require in order to carry out their functions 
under this Agreement. 
 
9. Nothing in this Agreement shall preclude: 
 
 (a)  the use by a contracting party of exchange controls or exchange 
      restrictions in accordance with the Articles of Agreement of the 
      International Monetary Fund or with that contracting party's 
      special exchange agreement with the CONTRACTING PARTIES, or 
 
 (b)  the use by a contracting party of restrictions or controls on 
      imports or exports, the sole effect of which, additional to the 
      effects permitted under Articles XI, XII, XIII and XIV, is to make 
      effective such exchange controls or exchange restrictions. 
 
                              Article XVI 
                               Subsidies 
 
                   Section A--Subsidies in General 
 
1. If any contracting party grants or maintains any subsidy, including 
any form of income or price support, which operates directly or 
indirectly to increase exports of any product from, or to reduce imports 
of any product into, its territory, it shall notify the CONTRACTING 
PARTIES in writing of the extent and nature of the subsidization, of the 
estimated effect of the subsidization on the quantity of the affected 
product or products imported into or exported from its territory and of 
the circumstances making the subsidization necessary. In any case in 
which it is determined that serious prejudice to the interests of any 
other contracting party is caused or threatened by any such 
subsidization, the contracting party granting the subsidy shall, upon 
request, discuss with the other contracting party or parties concerned, 
or with the CONTRACTING PARTIES, the possibility of limiting the 
subsidization. 
 
        Section B--Additional Provisions on Export Subsidies 
 
2. The contracting parties recognize that the granting by a contracting 
party of a subsidy on the export of any product may have harmful effects 
for other contracting parties, both importing and exporting, may cause 
undue disturbance to their normal commercial interests, and may hinder 
the achievement of the objectives of this Agreement. 
 
3. Accordingly, contracting parties should seek to avoid the use of 
subsidies on the export of primary products. If, however, a contracting 
party grants directly or indirectly any form of subsidy which operates to 
increase the export of any primary product from its territory, such 
subsidy shall not be applied in a manner which results in that 
contracting party having more than an equitable share of world export 
trade in that product, account being taken of the shares of the 
contracting parties in such trade in the product during a previous 
representative period, and any special factors which may have affected or 
may be affecting such trade in the product. 
 
4. Further, as from 1 January 1958 or the earliest practicable date 
thereafter, contracting parties shall cease to grant either directly or 
indirectly any form of subsidy on the export of any product other than a 
primary product which subsidy results in the sale of such product for 
export at a price lower than the comparable price charged for the like 
product to buyers in the domestic market. Until 31 December 1957 no 
contracting party shall extend the scope of any such subsidization beyond 
that existing on 1 January 1955 by the introduction of new, or the 
extension of existing, subsidies. 
 
5. The CONTRACTING PARTIES shall review the operation of the provisions 
of this Article from time to time with a view to examining its 
effectiveness, in the light of actual experience, in promoting the 
objectives of this Agreement and avoiding subsidization seriously 
prejudicial to the trade or interests of contracting parties. 
 
                              Article XVII 
                       State Trading Enterprises 
 
1. (a) Each contracting party undertakes that if it establishes or 
maintains a State enterprise, wherever located, or grants to any 
enterprise, formally or in effect, exclusive or special privileges, such 
enterprise shall, in its purchases or sales involving either imports or 
exports, act in a manner consistent with the general principles of 
non-discriminatory treatment prescribed in this Agreement for 
governmental measures affecting imports or exports by private traders. 
 
   (b) The provisions of sub-paragraph (a) of this paragraph shall be 
understood to require that such enterprises shall, having due regard to 
the other provisions of this Agreement, make any such purchases or sales 
solely in accordance with commercial considerations, including price, 
quality, availability, marketability, transportation and other conditions 
of purchase or sale, and shall afford the enterprises of the other 
contracting parties adequate opportunity, in accordance with customary 
business practice, to compete for participation in such purchases or 
sales. 
 
   (c) No contracting party shall prevent any enterprise (whether or not 
an enterprise described in sub-paragraph (a) of this paragraph) under its 
jurisdiction from acting in accordance with the principles of 
subparagraphs (a) and (b) of this paragraph. 
 
2. The provisions of paragraph 1 of this Article shall not apply to 
imports of products for immediate or ultimate consumption in governmental 
use and not otherwise for resale or use in the production of goods for 
sale. With respect to such imports, each contracting party shall accord 
to the trade of the other contracting parties fair and equitable 
treatment. 
 
3. The contracting parties recognize that enterprises of the kind 
described in paragraph 1 (a) of this Article might be operated so as to 
create serious obstacles to trade; thus negotiations on a reciprocal and 
mutually advantageous basis designed to limit or reduce such obstacles 
are of importance to the expansion of international trade. 
 
4. (a) Contracting parties shall notify the CONTRACTING PARTIES of the 
products which arc imported into or exported from their territories by 
enterprises of the kind described in paragraph 1 (a) of this Article. 
 
   (b) A contracting party establishing, maintaining or authorizing an 
import monopoly of a product, which is not the subject of a concession 
under Article II, shall, on the request of another contracting party 
having a substantial trade in the product concerned, inform the 
CONTRACTING PARTIES of the import mark-up on the product during a recent 
representative period, or, when it is not possible to do so, of the price 
charged on the resale of the product. 
 
   (c) The CONTRACTING PARTIES may, at the request of a contracting party 
which has reason to believe that its interests under this Agreement are 
being adversely affected by the operations of an enterprise of the kind 
described in paragraph 1 (a), request the contracting party establishing, 
maintaining or authorizing such enterprise to supply information about 
its operations related to the carrying out of the provisions of this 
Agreement. 
 
   (d) The provisions of this paragraph shall not require any contracting 
party to disclose confidential information which would impede law 
enforcement or otherwise be contrary to the public interest or would 
prejudice the legitimate commercial interests of particular enterprises. 
 
                              Article XVIII 
            Governmental Assistance to Economic Development 
 
1. The contracting parties recognize that the attainment of the 
objectives of this Agreement will be facilitated by the progressive 
development of their economies, particularly of those contracting parties 
the economies of which can only support low standards of living and are 
in the early stages of development. 
 
2. The contracting parties recognize further that it may be necessary for 
those contracting parties, in order to implement programmes and policies 
of economic development designed to raise the general standard of living 
of their people, to take protective or other measures affecting imports, 
and that such measures are justified in so far as they facilitate the 
attainment of the objectives of this Agreement. They agree, therefore, 
that those contracting parties should enjoy additional facilities to 
enable them (a) to maintain sufficient flexibility in their tariff 
structure to be able to grant the tariff protection required for the 
establishment of a particular industry and (b) to apply quantitative 
restrictions for balance of payments purposes in a manner which takes 
full account of the continued high level of demand for imports likely to 
be generated by their programmes of economic development. 
 
3. The contracting parties recognize finally that, with those additional 
facilities which are provided for in Sections A and B of this Article, 
the provisions of this Agreement would normally be sufficient to enable 
contracting parties to meet the requirements of their economic 
development. They agree, however, that there may be circumstances where 
no measure consistent with those provisions is practicable to permit a 
contracting party in the process of economic development to grant the 
governmental assistance required to promote the establishment of 
particular industries with a view to raising the general standard of 
living of its people. Special procedures are laid down in Sections C and 
D of this Article to deal with those cases. 
 
4. (a) Consequently, a contracting party the economy of which can only 
support low standards of living and is in the early stages of development 
shall be free to deviate temporarily from the provisions of the other 
Articles of this Agreement, as provided in Sections A, B and C of this 
Article. 
 
   (b) A contracting party the economy of which is in the process of 
development, but which does not come within the scope of sub-paragraph 
(a) above, may submit applications to the CONTRACTING PARTIES under 
Section D of this Article. 
 
5. The contracting parties recognize that the export earnings of 
contracting parties, the economies of which are of the type described in 
paragraph 4 (a) and (b) above and which depend on exports of a small 
number of primary commodities, may be seriously reduced by a decline in 
the sale of such commodities. Accordingly, when the exports of primary 
commodities by such a contracting party are seriously affected by 
measures taken by another contracting party, it may have resort to the 
consultation provisions of Article XXII of this Agreement. 
 
6. The CONTRACTING PARTIES shall review annually all measures applied 
pursuant to the provisions of Sections C and D of this Article. 
 
                              Section A 
 
7. (a) If a contracting party coming within the scope of paragraph 4 (a) 
of this Article considers it desirable, in order to promote the 
establishment of a particular industry with a view to raising the general 
standard of living of its people, to modify or withdraw a concession 
included in the appropriate Schedule annexed to this Agreement, it shall 
notify the CONTRACTING PARTIES to this effect and enter into negotiations 
with any contracting party with which such concession was initially 
negotiated, and with any other contracting party determined by the 
CONTRACTING PARTIES to have a substantial interest therein. If agreement 
is reached between such contracting parties concerned, they shall be free 
to modify or withdraw concessions under the appropriate Schedules to this 
Agreement in order to give effect to such agreement, including any 
compensatory adjustments involved. 
 
   (b) If agreement is not reached within sixty days after the 
notification provided for in sub-paragraph (a) above, the contracting 
party which proposes to modify or withdraw the concession may refer the 
matter to the CONTRACTING PARTIES, which shall promptly examine it. If 
they find that the contracting party which proposes to modify or withdraw 
the concession has made every effort to reach an agreement and that the 
compensatory adjustment offered by it is adequate, that contracting party 
shall be free to modify or withdraw the concession if, at the same time, 
it gives effect to the compensatory adjustment. If the CONTRACTING 
PARTIES do not find that the compensation offered by a contracting party 
proposing to modify or withdraw the concession is adequate, but find that 
it has made every reasonable effort to offer adequate compensation, that 
contracting party shall be free to proceed with such modification or 
withdrawal. If such action is taken, any other contracting party referred 
to in sub-paragraph (a) above shall be free to modify or withdraw 
substantially equivalent concessions initially negotiated with the 
contracting party which has taken the action. 
 
                              Section B 
 
8. The contracting parties recognize that contracting parties coming 
within the scope of paragraph 4 (a) of this Article tend, when they are 
in rapid process of development, to experience balance of payments 
difficulties arising mainly from efforts to expand their internal markets 
as well as from the instability in their terms of trade. 
 
9. In order to safeguard its external financial position and to ensure a 
level of reserves adequate for the implementation of its programme of 
economic development, a contracting party coming within the scope of 
paragraph 4 (a) of this Article may, subject to the provisions of 
paragraphs 10 to 12, control the general level of its imports by 
restricting the quantity or value of merchandise permitted to be 
imported; Provided that the import restrictions instituted, maintained or 
intensified shall not exceed those necessary: 
 
 (a)  to forestall the threat of, or to stop, a serious decline in its 
      monetary reserves, or 
 
 (b)  in the case of a contracting party with inadequate monetary 
      reserves, to achieve a reasonable rate of increase in its reserves. 
 
Due regard shall be paid in either case to any special factors which may 
be affecting the reserves of the contracting party or its need for 
reserves, including, where special external credits or other resources 
are available to it, the need to provide for the appropriate use of such 
credits or resources. 
 
10. In applying these restrictions, the contracting party may determine 
their incidence on imports of different products or classes of products 
in such a way as to give priority to the importation of those products 
which are more essential in the light of its policy of economic 
development; Provided that the restrictions are so applied as to avoid 
unnecessary damage to the commercial or economic interests of any other 
contracting party and not to prevent unreasonably the importation of any 
description of goods in minimum commercial quantities the exclusion of 
which would impair regular channels of trade; and Provided further that 
the restrictions are not so applied as to prevent the importation of 
commercial samples or to prevent compliance with patent, trade mark, 
copyright or similar procedures. 
 
11. In carrying out its domestic policies, the contracting party 
concerned shall pay due regard to the need for restoring equilibrium in 
its balance of payments on a sound and lasting basis and to the 
desirability of assuring an economic employment of productive resources. 
It shall progressively relax any restrictions applied under this Section 
as conditions improve, maintaining them only to the extent necessary 
under the terms of paragraph 9 of this Article and shall eliminate them 
when conditions no longer justify such maintenance; Provided that no 
contracting party shall be required to withdraw or modify restrictions on 
the ground that a change in its development policy would render 
unnecessary the restrictions which it is applying under this Section. 
 
12. (a) Any contracting party applying new restrictions or raising the 
general level of its existing restrictions by a substantial 
intensification of the measures applied under this Section, shall 
immediately after instituting or intensifying such restrictions (or, in 
circumstances in which prior consultation is practicable, before doing 
so) consult with the CONTRACTING PARTIES as to the nature of its balance 
of payments difficulties, alternative corrective measures which may be 
available, and the possible effect of the restrictions on the economies 
of other contracting parties. 
 
   (b) On a date to be determined by them, the CONTRACTING PARTIES shall 
review all restrictions still applied under this Section on that date. 
Beginning two years after that date, contracting parties applying 
restrictions under this Section shall enter into consultations of the 
type provided for in sub-paragraph (a) above with the CONTRACTING PARTIES 
at intervals of approximately, but not less than, two years according to 
a programme to be drawn up each year by the CONTRACTING PARTIES; Provided 
that no consultation under this sub-paragraph shall take place within two 
years after the conclusion of a consultation of a general nature under 
any other provision of this paragraph. 
 
(c) (i) If, in the course of consultations with a contracting party under 
sub-paragraph (a) or (b) of this paragraph, the CONTRACTING PARTIES find 
that the restrictions are not consistent with the provisions of this 
Section or with those of Article XIII (subject to the provisions of 
Article XIV), they shall indicate the nature of the inconsistency and may 
advise that the restrictions be suitably modified. 
 
     (ii) If, however, as a result of the consultations, the CONTRACTING 
PARTIES determine that the restrictions are being applied in a manner 
involving an inconsistency of a serious nature with the provisions of 
this Section or with those of Article XIII (subject to the provisions of 
Article XIV) and that damage to the trade of any contracting party is 
caused or threatened thereby, they shall so inform the contracting party 
applying the restrictions and shall make appropriate recommendations for 
securing conformity with such provisions within a specified period. If 
such contracting party does not comply with these recommendations within 
the specified period, the CONTRACTING PARTIES may release any contracting 
party the trade of which is adversely affected by the restrictions from 
such obligations under this Agreement towards the contracting party 
applying the restrictions as they determine to be appropriate in the 
circumstances. 
 
   (d) The CONTRACTING PARTIES shall invite any contracting party which 
is applying restrictions under this Section to enter into consultations 
with them at the request of any contracting party which can establish a 
prima facie case that the restrictions are inconsistent with the 
provisions of this Section or with those of Article XIII (subject to the 
provisions of Article XIV) and that its trade is adversely affected 
thereby. However, no such invitation shall be issued unless the 
CONTRACTING PARTIES have ascertained that direct discussions between the 
contracting parties concerned have not been successful. If, as a result 
of the consultations with the CONTRACTING PARTIES no agreement is reached 
and they determine that the restrictions are being applied inconsistently 
with such provisions, and that damage to the trade of the contracting 
party initiating the procedure is caused or threatened thereby, they 
shall recommend the withdrawal or modification of the restrictions. If 
the restrictions are not withdrawn or modified within such time as the 
CONTRACTING PARTIES may prescribe, they may release the contracting party 
initiating the procedure from such obligations under this Agreement 
towards the contracting party applying the restrictions as they determine 
to be appropriate in the circumstances. 
 
   (e) If a contracting party against which action has been taken in 
accordance with the last sentence of sub-paragraph (c) (ii) or (d) of 
this paragraph, finds that the release of obligations authorized by the 
CONTRACTING PARTIES adversely affects the operation of its programme and 
policy of economic development, it shall be free, not later than sixty 
days after such action is taken, to give written notice to the Executive 
Secretary 1 to the CONTRACTING PARTIES of its intention to withdraw from 
this Agreement and such withdrawal shall take effect on the sixtieth day 
following the day on which the notice is received by him. 
 
   (f) In proceeding under this paragraph, the CONTRACTING PARTIES shall 
have due regard to the factors referred to in paragraph 2 of this 
Article. Determinations under this paragraph shall be rendered 
expeditiously and, if possible, within sixty days of the initiation of 
the consultations. 
 
                              Section C 
 
13. If a contracting party coming within the scope of paragraph 4 (a) of 
this Article finds that governmental assistance is required to promote 
the establishment of a particular industry with a view to raising the 
general standard of living of its people, but that no measure consistent 
with the other provisions of this Agreement is practicable to achieve 
that objective, it may have recourse to the provisions and procedures set 
out in this Section. 
 
14. The contracting party concerned shall notify the CONTRACTING PARTIES 
of the special difficulties which it meets in the achievement of the 
objective outlined in paragraph 13 of this Article and shall indicate the 
specific measure affecting imports which it proposes to introduce in 
order to remedy these difficulties. It shall not introduce that measure 
before the expiration of the time-limit laid down in paragraph 15 or 17, 
as the case may be, or if the measure affects imports of a product which 
is the subject of a concession included in the appropriate Schedule 
annexed to this Agreement, unless it has secured the concurrence of the 
CONTRACTING PARTIES in accordance with the provisions of paragraph 18; 
Provided that, if the industry receiving assistance has already started 
production, the contracting party may, after informing the CONTRACTING 
PARTIES, take such measures as may be necessary to prevent, during that 
period, imports of the product or products concerned from increasing 
substantially above a normal level. 
 
15. If, within thirty days of the notification of the measure, the 
CONTRACTING PARTIES do not request the contracting party concerned to 
consult with them, that contracting party shall be free to deviate from 
the relevant provisions of the other Articles of this Agreement to the 
extent necessary to apply the proposed measure. 
 
16. If it is requested by the CONTRACTING PARTIES to do so, the 
contracting party concerned shall consult with them as to the purpose of 
the proposed measure, as to alternative measures which may be available 
under this Agreement, and as to the possible effect of the measure 
proposed on the commercial and economic interests of other contracting 
parties. If, as a result of such consultation, the CONTRACTING PARTIES 
agree that there is no measure consistent with the other provisions of 
this Agreement which is practicable in order to achieve the objective 
outlined in paragraph 13 of this Article, and concur in the proposed 
measure, the contracting party concerned shall be released from its 
obligations under the relevant provisions of the other Articles of this 
Agreement to the extent necessary to apply that measure. 
 
17. If, within ninety days after the date of the notification of the 
proposed measure under paragraph 14 of this Article, the CONTRACTING 
PARTIES have not concurred in such measure, the contracting party 
concerned may introduce the measure proposed after informing the 
CONTRACTING PARTIES. 
 
18. If the proposed measure affects a product which is the subject of a 
concession included in the appropriate Schedule annexed to this 
Agreement, the contracting party concerned shall enter into consultations 
with any other contracting party with which the concession was initially 
negotiated, and with any other contracting party determined by the 
CONTRACTING PARTIES to have a substantial interest therein. The 
CONTRACTING PARTIES shall concur in the measure if they agree that there 
is no measure consistent with the other provisions of this Agreement 
which is practicable in order to achieve the objective set forth in 
paragraph 13 of this Article, and if they are satisfied: 
 
 (a)  that agreement has been reached with such other contracting parties 
      as a result of the consultations referred to above, or 
 
 (b)  if no such agreement has been reached within sixty days after the 
      notification provided for in paragraph 14 has been received by the 
      CONTRACTING PARTIES, that the contracting party having recourse to 
      this Section has made all reasonable efforts to reach an agreement 
      and that the interests of other contracting parties are adequately 
      safeguarded. 
 
The contracting party having recourse to this Section shall thereupon be 
released from its obligations under the relevant provisions of the other 
Articles of this Agreement to the extent necessary to permit it to apply 
the measure. 
 
19. If a proposed measure of the type described in paragraph 13 of this 
Article concerns an industry the establishment of which has in the 
initial period been facilitated by incidental protection afforded by 
restrictions imposed by the contracting party concerned for balance of 
payments purposes under the relevant provisions of this Agreement, that 
contracting party may resort to the provisions and procedures of this 
Section; Provided that it shall not apply the proposed measure without 
the concurrence of the CONTRACTING PARTIES. 
 
20. Nothing in the preceding paragraphs of this Section shall authorize 
any deviation from the provisions of Articles I, II and XIII of this 
Agreement. The provisos to paragraph 10 of this Article shall also be 
applicable to any restriction under this Section. 
 
21. At any time while a measure is being applied under paragraph 17 of 
this Article any contracting party substantially affected by it may 
suspend the application to the trade of the contracting party having 
recourse to this Section of such substantially equivalent concessions or 
other obligations under this Agreement the suspension of which the 
CONTRACTING PARTIES do not disapprove; Provided that sixty days' notice 
of such suspension is given to the CONTRACTING PARTIES not later than six 
months after the measure has been introduced or changed substantially to 
the detriment of the contracting party affected. Any such contracting 
party shall afford adequate opportunity for consultation in accordance 
with the provisions of Article XXII of this Agreement. 
 
                              Section D 
 
22. A contracting party coming within the scope of sub-paragraph 4 (b) of 
this Article desiring, in the interest of the development of its economy, 
to introduce a measure of the type described in paragraph 13 of this 
Article in respect of the establishment of a particular industry may 
apply to the CONTRACTING PARTIES for approval of such measure. The 
CONTRACTING PARTIES shall promptly consult with such contracting party 
and shall, in making their decision, be guided by the considerations set 
out in paragraph 16. If the CONTRACTING PARTIES concur in the proposed 
measure the contracting party concerned shall be released from its 
obligations under the relevant provisions of the other Articles of this 
Agreement to the extent necessary to permit it to apply the measure. If 
the proposed measure affects a product which is the subject of a 
concession included in the appropriate Schedule annexed to this 
Agreement, the provisions of paragraph 18 shall apply. 
 
23. Any measure applied under this Section shall comply with the 
provisions of paragraph 20 of this Article. 
 
                              Article XIX 
         Emergency Action on Imports of Particular Products 
 
1. (a) If, as a result of unforeseen developments and of the effect of 
the obligations incurred by a contracting party under this Agreement, 
including tariff concessions, any product is being imported into the 
territory of that contracting party in such increased quantities and 
under such conditions as to cause or threaten serious injury to domestic 
producers in that territory of like or directly competitive products, the 
contracting party shall be free, in respect of such product, and to the 
extent and for such time as may be necessary to prevent or remedy such 
injury, to suspend the obligation in whole or in part or to withdraw or 
modify the concession. 
 
   (b) If any product, which is the subject of a concession with respect 
to a preference, is being imported into the territory of a contracting 
party in the circumstances set forth in sub-paragraph (a) of this 
paragraph, so as to cause or threaten serious injury to domestic 
producers of like or directly competitive products in the territory of a 
contracting party which receives or received such preference, the 
importing contracting party shall be free, if that other contracting 
party so requests, to suspend the relevant obligation in whole or in part 
or to withdraw or modify the concession in respect of the product, to the 
extent and for such time as may be necessary to prevent or remedy such 
injury. 
 
2. Before any contracting party shall take action pursuant to the 
provisions of paragraph 1 of this Article, it shall give notice in 
writing to the CONTRACTING PARTIES as far in advance as may be 
practicable and shall afford the CONTRACTING PARTIES and those 
contracting parties having a substantial interest as exporters of the 
product concerned an opportunity to consult with it in respect of the 
proposed action. When such notice is given in relation to a concession 
with respect to a preference, the notice shall name the contracting party 
which has requested the action. In critical circumstances, where delay 
would cause damage which it would be difficult to repair, action under 
paragraph 1 of this Article may be taken provisionally without prior 
consultation, on the condition that consultation shall be effected 
immediately after taking such action. 
 
3. (a) If agreement among the interested contracting parties with respect 
to the action is not reached, the contracting party which proposes to 
take or continue the action shall, nevertheless, be free to do so, and if 
such action is taken or continued, the affected contracting parties shall 
then be free, not later than ninety days after such action is taken, to 
suspend, upon the expiration of thirty days from the day on which written 
notice of such suspension is received by the CONTRACTING PARTIES, the 
application to the trade of the contracting party taking such action, or, 
in the case envisaged in paragraph 1 (b) of this Article, to the trade of 
the contracting party requesting such action, of such substantially 
equivalent concessions or other obligations under this Agreement the 
suspension of which the CONTRACTING PARTIES do not disapprove. 
 
   (b) Notwithstanding the provisions of sub-paragraph (a) of this 
paragraph, where action is taken under paragraph 2 of this Article 
without prior consultation and causes or threatens serious injury in the 
territory of a contracting party to the domestic producers of products 
affected by the action, that contracting party shall, where delay would 
cause damage difficult to repair, be free to suspend, upon the taking of 
the action and throughout the period of consultation, such concessions or 
other obligations as may be necessary to prevent or remedy the injury. 
 
                              Article XX 
                          General Exceptions 
 
Subject to the requirement that such measures are not applied in a manner 
which would constitute a means of arbitrary or unjustifiable 
discrimination between countries where the same conditions prevail, or a 
disguised restriction on international trade, nothing in this Agreement 
shall be construed to prevent the adoption or enforcement by any 
contracting party of measures: 
 
 (a)  necessary to protect public morals; 
 
 (b)  necessary to protect human, animal or plant life or health; 
 
 (c)  relating to the importation or exportation of gold or silver; 
 
 (d)  necessary to secure compliance with laws or regulations which are 
      not inconsistent with the provisions of this Agreement, including 
      those relating to customs enforcement, the enforcement of 
      monopolies operated under paragraph 4 of Article II and Article 
      XVII, the protection of patents, trade marks and copyrights, and 
      the prevention of deceptive practices; 
 
 (e)  relating to the products of prison labour; 
 
 (f)  imposed for the protection of national treasures of artistic, 
      historic or archaeological value; 
 
 (g)  relating to the conservation of exhaustible natural resources if 
      such measures are made effective in conjunction with restrictions 
      on domestic production or consumption; 
 
 (h)  undertaken in pursuance of obligations under any intergovernmental 
      commodity agreement which conforms to criteria submitted to the 
      CONTRACTING PARTIES and not disapproved by them or which is itself 
      so submitted and not so disapproved; 
 
 (i)  involving restrictions on exports of domestic materials necessary 
      to ensure essential quantities of such materials to a domestic 
      processing industry during periods when the domestic price of such 
      materials is held below the world price as part of a governmental 
      stabilization plan; Provided that such restrictions shall not 
      operate to increase the exports of or the protection afforded to 
      such domestic industry, and shall not depart from the provisions of 
      this Agreement relating to non-discrimination; 
 
 (j)  essential to the acquisition or distribution of products in general 
      or local short supply; Provided that any such measures shall be 
      consistent with the principle that all contracting parties are 
      entitled to an equitable share of the international supply of such 
      products, and that any such measures, which are inconsistent with 
      the other provisions of this Agreement shall be discontinued as 
      soon as the . conditions giving rise to them have ceased to exist. 
      The CONTRACTING PARTIES shall review the need for this 
      sub-paragraph not later than 30 June 1960. 
 
                              Article XXI 
                         Security Exceptions 
 
Nothing in this Agreement shall be construed 
 
 (a)  to require any contracting party to furnish any information the 
      disclosure of which it considers contrary to its essential security 
      interests; or 
 
 (b)  to prevent any contracting party from taking any action which it 
      considers necessary for the protection of its essential security 
      interests 
 
      (i)   relating to fissionable materials or the materials from which 
            they are derived; 
 
      (ii)  relating to the traffic in arms, ammunition and implements of 
            war and to such traffic in other goods and materials as is 
            carried on directly or indirectly for the purpose of 
            supplying a military establishment; 
 
      (iii) taken in time of war or other emergency in international 
            relations; or 
 
 (c)  to prevent any contracting party from taking any action in 
      pursuance of its obligations under the United Nations Charter for 
      the maintenance of international peace and security. 
 
                              Article XXII 
                              Consultation 
 
1. Each contracting party shall accord sympathetic consideration to, and 
shall afford adequate opportunity for consultation regarding, such 
representations as may be made by another contracting party with respect 
to any matter affecting the operation of this Agreement. 
 
2. The CONTRACTING PARTIES may, at the request of a contracting party, 
consult with any contracting party or parties in respect of any matter 
for which it has not been possible to find a satisfactory solution 
through consultation under paragraph 1. 
 
                              Article XXIII 
                      Nullification or Impairment 
 
1. If any contracting party should consider that any benefit accruing to 
it directly or indirectly under this Agreement is being nullified or 
impaired or that the attainment of any objective of the Agreement is 
being impeded as the result of 
 
 (a)  the failure of another contracting party to carry out its 
      obligations under this Agreement, or 
 
 (b)  the application by another contracting party of any measure, 
      whether or not it conflicts with the provisions of this Agreement, 
      or 
 
 (c)  the existence of any other situation, 
 
the contracting party may, with a view to the satisfactory adjustment of 
the matter, make written representations or proposals to the other 
contracting party or parties which it considers to be concerned. Any 
contracting party thus approached shall give sympathetic consideration to 
the representations or proposals made to it. 
 
2. If no satisfactory adjustment is effected between the contracting 
parties concerned within a reasonable time, or if the difficulty is of 
the type described in paragraph 1(c) of this Article, the matter may be 
referred to the CONTRACTING PARTIES. The CONTRACTING PARTIES shall 
promptly investigate any matter so referred to them and shalt make 
appropriate recommendations to the contracting parties which they 
consider to be concerned, or give a ruling on the matter, as appropriate. 
The CONTRACTING PARTIES may consult with contracting parties, with the 
Economic and Social Council of the United Nations and with any 
appropriate inter-governmental organization in cases where they consider 
such consultation necessary. If the CONTRACTING PARTIES consider that the 
circumstances are serious enough to justify such action, they may 
authorize a contracting party or parties to suspend the application to 
any other contracting party or parties of such concessions or other 
obligations under this Agreement as they determine to be appropriate in 
the circumstances. If the application to any contracting party of any 
concession or other obligation is in fact suspended, that contracting 
party shall then be free, not later than sixty days after such action is 
taken, to give written notice to the Executive Secretary to the 
CONTRACTING PARTIES of its intention to withdraw from this Agreement and 
such withdrawal shall take effect upon the sixtieth day following the day 
on which such notice is received by him. 
 
 
                               PART III 
 
                              Article XXIV 
       Territorial Application--Frontier Traffic--Customs Unions 
                         and Free-trade Areas 
 
1. The provisions of this Agreement shalt apply to the metropolitan 
customs territories of the contracting parties and to any other customs 
territories in respect of which this Agreement has been accepted under 
Article XXVI or is being applied under Article XXXIII or pursuant to the 
Protocol of Provisional Application. Each such customs territory shall, 
exclusively for the purposes of the territorial application of this 
Agreement, be treated as though it were a contracting party; Provided 
that the provisions of this paragraph shall not be construed to create 
any rights or obligations as between two or more customs territories in 
respect of which this Agreement has been accepted under Article XXVI or 
is being applied under Article XXXIII or pursuant to the Protocol of 
Provisional Application by a single contracting party. 
 
2. For the purposes of this Agreement a customs territory shall be 
understood to mean any territory with respect to which separate tariffs 
or other regulations of commerce are maintained for a substantial part of 
the trade of such territory with other territories. 
 
3. The provisions of this Agreement shalt not be construed to prevent: 
 
 (a)  Advantages accorded by any contracting party to adjacent countries 
      in order to facilitate frontier traffic; 
 
 (b)  Advantages accorded to the trade with the Free Territory of Trieste 
      by countries contiguous to that territory, provided that such 
      advantages are not in conflict with the Treaties of Peace arising 
      out of the Second World War. 
 
4. The contracting parties recognize the desirability of increasing 
freedom of trade by the development, through voluntary agreements, of 
closer integration between the economies of the countries parties to such 
agreements. They also recognize that the purpose of a customs union or of 
a free-trade area should be to facilitate trade between the constituent 
territories and not to raise barriers to the trade of other contracting 
parties with such territories. 
 
5. Accordingly, the provisions of this Agreement shall not prevent, as 
between the territories of contracting parties, the formation of a 
customs union or of a free-trade area or the adoption of an interim 
agreement necessary for the formation of a customs union or of a 
free-trade area; Provided that: 
 
 (a)  with respect to a customs union, or an interim agreement leading to 
      the formation of a customs union, the duties and other regulations 
      of commerce imposed at the institution of any such union or interim 
      agreement in respect of trade with contracting parties not parties 
      to such union or agreement shall not on the whole be higher or more 
      restrictive than the general incidence of the duties and 
      regulations of commerce applicable in the constituent territories 
      prior to the formation of such union or the adoption of such 
      interim agreement, as the case may be; 
 
 (b)  with respect to a free-trade area, or an interim agreement leading 
      to the formation of a free-trade area, the duties and other 
      regulations of commerce maintained in each of the constituent 
      territories and applicable at the formation of such free-trade area 
      or the adoption of such interim agreement to the trade of 
      contracting parties not included in such area or not parties to 
      such agreement shall not be higher or more restrictive than the 
      corresponding duties and other regulations of commerce existing in 
      the same constituent territories prior to the formation of the 
      free-trade area, or interim agreement, as the case may be; and 
 
 (c)  any interim agreement referred to in sub-paragraphs (a) and (b) 
      shall include a plan and schedule for the formation of such a 
      customs union or of such a free-trade area within a reasonable 
      length of time. 
 
6. If, in fulfilling the requirements of sub-paragraph 5 (a), a 
contracting party proposes to increase any rate of duty inconsistently 
with the provisions of Article II, the procedure set forth in Article 
XXVIII shall apply. In providing for compensatory adjustment, due account 
shall be taken of the compensation already afforded by the reductions 
brought about in the corresponding duty of the other constituents of the 
union. 
 
7. (a) Any contracting party deciding to enter into a customs union or 
free-trade area, or an interim agreement leading to the formation of such 
a union or area, shall promptly notify the CONTRACTING PARTIES and shall 
make available to them such information regarding the proposed union or 
area as will enable them to make such reports and recommendations to 
contracting parties as they may deem appropriate. 
 
    (b) If, after having studied the plan and schedule included in an 
interim agreement referred to in paragraph 5 in consultation with the 
parties to that agreement and taking due account of the information made 
available in accordance with the provisions of sub-paragraph (a), the 
CONTRACTING PARTIES find that such agreement is not likely to result in 
the formation of a customs union or of a free-trade area within the 
period contemplated by the parties to the agreement or that such period 
is not a reasonable one, the CONTRACTING PARTIES shall make 
recommendations to the parties to the agreement. The parties shall not 
maintain or put into force, as the case may be, such agreement if they 
are not prepared to modify it in accordance with these recommendations. 
 
    (c) Any substantial change in the plan or schedule referred to in 
paragraph 5 (c) shall be communicated to the CONTRACTING PARTIES, which 
may request the contracting parties concerned to consult with them if the 
change seems likely to jeopardize or delay unduly the formation of the 
customs union or of the free-trade area. 
 
8. For the purposes of this Agreement: 
 
 (a)  A customs union shall be understood to mean the substitution of a 
      single customs territory for two or more customs territories, so 
      that 
 
      (i)   duties and other restrictive regulations of commerce (except, 
            where necessary, those permitted under Articles XI, XII, 
            XIII, XIV, XV and XX) are eliminated with respect to 
            substantially all the trade between the constituent 
            territories of the union or at least with respect to 
            substantially all the trade in products originating in such 
            territories, and, 
 
      (ii)  subject to the provisions of paragraph 9, substantially the 
            same duties and other regulations of commerce are applied by 
            each of the members of the union to the trade of territories 
            not included in the union; 
 
 (b)  A free-trade area shall be understood to mean a group of two or 
      more customs territories in which the duties and other restrictive 
      regulations of commerce (except, where necessary, those permitted 
      under Articles XI, XII, XIII, XIV, XV and XX) are eliminated on 
      substantially all the trade between the constituent territories in 
      products originating in such territories. 
 
9. The preferences referred to in paragraph 2 of Article I shall not be 
affected by the formation of a customs union or of a free-trade area but 
may be eliminated or adjusted by means of negotiations with contracting 
parties affected. This procedure of negotiations with affected 
contracting parties shall, in particular, apply to the elimination of 
preferences required to conform with the provisions of paragraph 8 (a) 
(i) and paragraph 8 (b). 
 
10. The CONTRACTING PARTIES may by a two-thirds majority approve 
proposals which do not fully comply with the requirements of paragraphs 5 
to 9 inclusive, provided that such proposals lead to the formation of a 
customs union or a free-trade area in the sense of this Article. 
 
11. Taking into account the exceptional circumstances arising out of the 
establishment of India and Pakistan as independent States and recognizing 
the fact that they have long constituted an economic unit, the 
contracting parties agree that the provisions of this Agreement shall not 
prevent the two countries from entering into special arrangements with 
respect to the trade between them, pending the establishment of their 
mutual trade relations on a definitive basis. 
 
12. Each contracting party shall take such reasonable measures as may be 
available to it to ensure observance of the provisions of this Agreement 
by the regional and local governments and authorities within its 
territory. 
 
                              Article XXV 
               Joint Action by the Contracting Parties 
 
1. Representatives of the contracting parties shall meet from time to 
time for the purpose of giving effect to those provisions of this 
Agreement which involve joint action and, generally, with a view to 
facilitating the operation and furthering the objectives of this 
Agreement. Wherever reference is made in this Agreement to the 
contracting parties acting jointly they are designated as the CONTRACTING 
PARTIES. 
 
2. The Secretary-General of the United Nations is requested to convene 
the first meeting of the CONTRACTING PARTIES, which shall take place not 
later than March 1, 1948. 
 
3. Each contracting party shall be entitled to have one vote at all 
meetings of the CONTRACTING PARTIES. 
 
4. Except as otherwise provided for in this Agreement, decisions of the 
CONTRACTING PARTIES shall be taken by a majority of the votes cast. 
 
5. In exceptional circumstances not elsewhere provided for in this 
Agreement, the CONTRACTING PARTIES may waive an obligation imposed upon a 
contracting party by this Agreement; Provided that any such decision 
shall be approved by a two-thirds majority of the votes cast and that 
such majority shall comprise more than half of the contracting parties. 
The CONTRACTING PARTIES may also by such a vote 
 
  (i) define certain categories of exceptional circumstances to which 
      other voting requirements shall apply for the waiver of 
      obligations, and 
 
 (ii) prescribe such criteria as may be necessary for the application of 
      this paragraph. 
 
                              Article XXVI 
            Acceptance, Entry into Force and Registration 
 
1. The date of this Agreement shall be 30 October 1947. 
 
2. This Agreement shall be open for acceptance by any contracting party 
which, on 1 March 1955, was a contracting party or was negotiating with a 
view to accession to this Agreement. 
 
3. This Agreement, done in a single English original and in a single 
French original, both texts authentic, shall be deposited with the 
Secretary-General of the United Nations, who shall furnish certified 
copies thereof to all interested governments. 
 
4. Each government accepting this Agreement shall deposit an instrument 
of acceptance with the Executive Secretary to the CONTRACTING PARTIES, 
who will inform all interested governments of the date of deposit of each 
instrument of acceptance and of the day on which this Agreement enters 
into force under paragraph 6 of this Article. 
 
5. (a) Each government accepting this Agreement does so in respect of its 
metropolitan territory and of the other territories for which it has 
international responsibility, except such separate customs territories as 
it shall notify to the Executive Secretary to the CONTRACTING PARTIES at 
the time of its own acceptance. 
 
   (b) Any government, which has so notified the Executive Secretary 
under the exceptions in sub-paragraph (a) of this paragraph, may at any 
time give notice to the Executive Secretary that its acceptance shall be 
effective in respect of any separate customs territory or territories so 
excepted and such notice shall take effect on the thirtieth day following 
the day on which it is received by the Executive Secretary. 
 
   (c) If any of the customs territories, in respect of which a 
contracting party has accepted this Agreement, possesses or acquires full 
autonomy in the conduct of its external commercial relations and of the 
other matters provided for in this Agreement, such territory shall, upon 
sponsorship through a declaration by the responsible contracting party 
establishing the above-mentioned fact, be deemed to be a contracting 
party. 
 
6. This Agreement shall enter into force, as among the governments which 
have accepted it, on the thirtieth day following the day on which 
instruments of acceptance have been deposited with the Executive 
Secretary to the CONTRACTING PARTIES on behalf of governments named in 
Annex H, the territories of which account for 85 per centum of the total 
external trade of the territories of such governments, computed in 
accordance with the applicable column of percentages set forth therein. 
The instrument of acceptance of each other government shall take effect 
on the thirtieth day following the day on which such instrument has been 
deposited. 
 
7. The United Nations is authorized to effect registration of this 
Agreement as soon as it enters into force. 
 
                              Article XXVII 
                Withholding or Withdrawal of Concessions 
 
Any contracting party shall at any time be free to withhold or to 
withdraw in whole or in part any concession, provided for in the 
appropriate Schedule annexed to this Agreement, in respect of which such 
contracting party determines that it was initially negotiated with a 
government which has not become, or has ceased to be, a contracting 
party. A contracting party taking such action shall notify the 
CONTRACTING PARTIES and, upon request, consult with contracting parties 
which have a substantial interest in the product concerned. 
 
                              Article XXVIII 
                        Modification of Schedules 
 
1. On the first day of each three-year period, the first period beginning 
on 1 January 1958 (or on the first day of any other period that may be 
specified by the CONTRACTING PARTIES by two-thirds of the votes cast) a 
contracting party (hereafter in this Article referred to as the 
"applicant contracting party") may, by negotiation and agreement with any 
contracting party with which such concession was initially negotiated and 
with any other contracting party determined by the CONTRACTING PARTIES to 
have a principal supplying interest (which two preceding categories of 
contracting parties, together with the applicant contracting party, are 
in this Article hereinafter referred to as the "contracting parties 
primarily concerned"), and subject to consultation with any other 
contracting party determined by the CONTRACTING PARTIES to have a 
substantial interest in such concession, modify or withdraw a concession 
included in the appropriate Schedule annexed to this Agreement. 
 
2. In such negotiations and agreement, which may include provision for 
compensatory adjustment with respect to other products, the contracting 
parties concerned shall endeavour to maintain a general level of 
reciprocal and mutually advantageous concessions not less favourable to 
trade than that provided for in this Agreement prior to such 
negotiations. 
 
3. (a) If agreement between the contracting parties primarily concerned 
cannot be reached before 1 January 1958 or before the expiration of a 
period envisaged in paragraph 1 of this Article, the contracting party 
which proposes to modify or withdraw the concession shall, nevertheless, 
be free to do so and if such action is taken any contracting party with 
which such concession was initially negotiated, any contracting party 
determined under paragraph 1 to have a principal supplying interest and 
any contracting party determined under paragraph I to have a substantial 
interest shall then be free not later than six months after such action 
is taken, to withdraw, upon the expiration of thirty days from the day on 
which written notice of such withdrawal is received by the CONTRACTING 
PARTIES, substantially equivalent concessions initially negotiated with 
the applicant contracting party. 
 
    (b) If agreement between the contracting parties primarily concerned 
is reached but any other contracting party determined under paragraph 1 
of this Article to have a substantial interest is not satisfied, such 
other contracting party shall be free, not later than six months after 
action under such agreement is taken, to withdraw, upon the expiration of 
thirty days from the day on which written notice of such withdrawal is 
received by the CONTRACTING PARTIES, substantially equivalent concessions 
initially negotiated with the applicant contracting party. 
 
4. The CONTRACTING PARTIES may, at any time, in special circumstances, 
authorize a contracting party to enter into negotiations for modification 
or withdrawal of a concession included in the appropriate Schedule 
annexed to this Agreement subject to the following procedures and 
conditions: 
 
 (a)  Such negotiations* and any related consultations shall be conducted 
      in accordance with the provisions of paragraphs 1 and 2 of this 
      Article. 
 
 (b)  If agreement between the contracting parties primarily concerned is 
      reached in the negotiations, the provisions of paragraph 3 (b) of 
      this Article shall apply. 
 
 (c)  If agreement between the contracting parties primarily concerned is 
      not reached within a period of sixty days after negotiations have 
      been authorized, or within such longer period as the CONTRACTING 
      PARTIES may have prescribed, the applicant contracting party may 
      refer the matter to the CONTRACTING PARTIES. 
 
 (d)  Upon such reference, the CONTRACTING PARTIES shall promptly examine 
      the matter and submit their views to the contracting parties 
      primarily concerned with the aim of achieving a settlement. If a 
      settlement is reached, the provisions of paragraph 3 (b) shall 
      apply as if agreement between the contracting parties primarily 
      concerned had been reached. If no settlement is reached between the 
      contracting parties primarily concerned, the applicant contracting 
      party shall be free to modify or withdraw the concession, unless 
      the CONTRACTING PARTIES determine that the applicant contracting 
      party has unreasonably failed to offer adequate compensation. If 
      such action is taken, any contracting party with which the 
      concession was initially negotiated, any contracting party 
      determined under paragraph 4 (a) to have a principal supplying 
      interest and any contracting party determined under paragraph 4 (a) 
      to have a substantial interest, shall be free, not later than six 
      months after such action is taken, to modify or withdraw, upon the 
      expiration of thirty days from the day on which written notice of 
      such withdrawal is received by the CONTRACTING PARTIES, 
      substantially equivalent concessions initially negotiated with the 
      applicant contracting party. 
 
5. Before 1 January 1958 and before the end of any period envisaged in 
paragraph 1 a contracting party may elect by notifying the CONTRACTING 
PARTIES to reserve the right, for the duration of the next period, to 
modify the appropriate Schedule in accordance with the procedures of 
paragraphs 1 to 3. If a contracting party so elects, other contracting 
parties shall have the right, during the same period, to modify or 
withdraw, in accordance with the same procedures, concessions initially 
negotiated with that contracting party. 
 
                           Article XXVIII bis 
                          Tariff Negotiations 
 
1. The contracting parties recognize that customs duties often constitute 
serious obstacles to trade; thus negotiations on a reciprocal and 
mutually advantageous basis, directed to the substantial reduction of the 
general level of tariffs and other charges on imports and exports and in 
particular to the reduction of such high tariffs as discourage the 
importation even of minimum quantities, and conducted with due regard to 
the objectives of this Agreement and the varying needs of individual 
contracting parties, are of great importance to the expansion of 
international trade. The CONTRACTING PARTES may therefore sponsor such 
negotiations from time to time. 
 
2. (a) Negotiations under this Article may be carried out on a selective 
product-by-product basis or by the application of such multilateral 
procedures as may be accepted by the contracting parties concerned. Such 
negotiations may be directed towards the reduction of duties, the binding 
of duties at then existing levels or undertakings that individual duties 
or the average duties on specified categories of products shall not 
exceed specified levels. The binding against increase of low duties or of 
duty-free treatment shall, in principle, be recognized as a concession 
equivalent in value to the reduction of high duties. 
 
   (b) The contracting parties recognize that in general the success of 
multilateral negotiations would depend on the participation of all 
contracting parties which conduct a substantial proportion of their 
external trade with one another. 
 
3. Negotiations shall be conducted on a basis which affords adequate 
opportunity to take into account: 
 
 (a)  the needs of individual contracting parties and individual 
      industries; 
 
 (b)  the needs of less-developed countries for a more flexible use of 
      tariff protection to assist their economic development and the 
      special needs of these countries to maintain tariffs for revenue 
      purposes; and 
 
 (c)  all other relevant circumstances, including the fiscal, 
      developmental, strategic and other needs of the contracting parties 
      concerned. 
 
                              Article XXIX 
          The Relation of this Agreement to the Havana Charter 
 
1. The contracting parties undertake to observe to the fullest extent of 
their executive authority the general principles of Chapters I to VI 
inclusive and of Chapter IX of the Havana Charter pending their 
acceptance of it in accordance with their constitutional procedures. 
 
2. Part II of this Agreement shall be suspended on the day on which the 
Havana Charter enters into force. 
 
3. If by September 30, 1949, the Havana Charter has not entered into 
force, the contracting parties shall meet before December 31, 1949, to 
agree whether this Agreement shall be amended, supplemented or 
maintained. 
 
4. If at any time the Havana Charter should cease to be in force, the 
CONTRACTING PARTIES shall meet as soon as practicable thereafter to agree 
whether this Agreement shall be supplemented, amended or maintained. 
Pending such agreement, Part II of this Agreement shall again enter into 
force; Provided that the provisions of Part II other than Article XXIII 
shall be replaced, mutatis mutandis, in the form in which they then 
appeared in the Havana Charter; and Provided further that no contracting 
party shall be bound by any provisions which did not bind it at the time 
when the Havana Charter ceased to be in force. 
 
5. If any contracting party has not accepted the Havana Charter by the 
date upon which it enters into force, the CONTRACTING PARTIES shall 
confer to agree whether, and if so in what way, this Agreement in so far 
as it affects relations between such contracting party and other 
contracting parties, shall be supplemented or amended. Pending such 
agreement the provisions of Part Il of this Agreement shall, 
notwithstanding the provisions of paragraph 2 of this Article, continue 
to apply as between such contracting party and other contracting parties. 
 
6. Contracting parties which are Members of the International Trade 
Organization shall not invoke the provisions of this Agreement so as to 
prevent the operation of any provision of the Havana Charter. The 
application of the principle underlying this paragraph to any contracting 
party which is not a Member of the International Trade Organization shall 
be the subject of an agreement pursuant to paragraph 5 of this Article. 
 
                              Articl