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Additional info for Reader's Digest Quintessential Guide to Saving Money
Example text
Among these new rules we find the granting of preferences that raise legal problems with the most-favoured-nation clause; this implies new ways of drawing up rules on exceptions to, or adaptions of, the principle of nondiscrimination contained in the clause. The need to suspend the application of the most-favoured-nation clause and the principle of non-discrimination and to adopt a general preferential and non-discriminatory treatment by the developed countries for manufactured and semi-manufactured goods exported by the developing countries arises from the fact that the plight of the developing countries makes accelerated industrialization, going beyond mere import substitution to the export of industrial products on the world market, quite unavoidable.
The need to suspend the application of the most-favoured-nation clause and the principle of non-discrimination and to adopt a general preferential and non-discriminatory treatment by the developed countries for manufactured and semi-manufactured goods exported by the developing countries arises from the fact that the plight of the developing countries makes accelerated industrialization, going beyond mere import substitution to the export of industrial products on the world market, quite unavoidable.
During the Kennedy Round the developed countries frequently stated that the only way they could maintain their offers of concessions for products of interest to the developing countries would be for the latter to offer concessions, in the form of tariff reductions compatible with their development needs. Many developing countries were reluctant to reduce tariffs and instead justified the non-reciprocity of their offers by promising not to raise them in the future as well as to adopt policies on administrative and other facili12 13 14 New Part IV of the GATT.
