Which Of The Following Is Not A Component Of The Uruguay Round Agreement

17 The derogations also cover public storage for food security purposes and national food aid. Public storage for food security purposes includes “expenditure (or loss of revenue) related to the accumulation and maintenance of stocks of products that are an integral part of a food security programme established by national legislation. This may be State aid for the private storage of products under such a programme. The volume and accumulation of these stocks must meet predefined objectives relating exclusively to food security. The process of stock accumulation and disposal must be financially transparent. Government purchases of food are made at current market prices, and sales from food safety stocks are made at least at the current domestic market price for the product and quality in question” (Section 3). Two years later, in December 1988, ministers met again in Montreal, Canada, to assess progress in the mid-term rounds. The aim was to clarify the agenda for the remaining two years, but the talks ended in an impasse that was only resolved when officials met more discreetly in Geneva the following April. 46 Instead of applying the individual requests documented in the Final Act of December 1993, Simulation IV takes into account the impact of the customs reform formula (reduction of customs duties by 36% in OECD countries and 24% in non-OECD countries) contained in the draft Final Act of the Uruguay Round of December 199214. This more than doubles the expected profits in Simulation II.

This simulation leads to a sharper increase in prices on the world market, particularly for sugar, meat and dairy products, where tariffs have remained relatively unafly affected by the Uruguay Round agreement. As a result of this significant increase in world agricultural prices, the terms-of-trade effect for agricultural exporters is improving and thus benefiting, with the exception of net food-importing countries in Africa and developing countries in the Middle East. (ii) Not to take, in the lawful exercise of its rights in GATT, measures restricting or distorting trade beyond what is necessary to remedy specific situations, as provided for in the General Agreement and the instruments referred to in Article (i); The agreement would establish a Council for Trade-Related Aspects of Intellectual Property Rights to oversee the operation of the Agreement and compliance with the Agreement by governments. Dispute settlement would take place within the framework of the GATT integrated dispute settlement procedures as revised in the Uruguay Round. This agreement concerns the application of sanitary and phytosanitary measures, i.e. food safety and animal and plant health rules. The Agreement recognizes that governments have the right to take sanitary and phytosanitary measures, but that they should be applied only to the extent necessary to protect human, animal or plant life or health and that they should not arbitrarily or unjustifiably discriminate between Members where the same or similar conditions prevail. Commitments to reduce domestic aid have been described in detail in Part I of this manual. The provision that the aggregate AMS must be reduced means that there is no obligation to reduce support for individual products. .