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By Will Martin

This can be a synopsis of the papers, suggestions, and dialogue from the area Bank's sec convention at the Uruguay around and the constructing economies held January 1995.

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Extra info for The Uruguay Round: widening and deepening the world trading system

Example text

The dramatic increase in tariff bindings in developing countries, both in agriculture and in manufacturing, intensifies the importance of the global trading system for regulating national trade policy. The reincorporation of agriculture into the GATT is particularly important, not so much for the reductions in protectionthey were generally smallas for getting it back under multilateral discipline and laying the foundations for future negotiations. The incorporation of services expands the scope of the system and thus the scope for further gains from negotiation.

Industrial countries listed just under half their service trade categories in their market access commitments, including more than a quarter for which market access is completely unimpeded. When sectors with market access commitments subject to some policy exemptions are counted with a weight of one-half, the measure of guaranteed market access is 36%. 9% listed with no policy exemptions. 3% of their sectors. Many developing countries made virtually no use of the opportunity to commit themselves to an open trading regime for services: four countries listed only one of the 155 service sectors (the minimum required for membership of the WTO) and five others listed only two.

When sectors with market access commitments subject to some policy exemptions are counted with a weight of one-half, the measure of guaranteed market access is 36%. 9% listed with no policy exemptions. 3% of their sectors. Many developing countries made virtually no use of the opportunity to commit themselves to an open trading regime for services: four countries listed only one of the 155 service sectors (the minimum required for membership of the WTO) and five others listed only two. Importantly, however, the large developing economies (those with GDP above $40 billion) proved more willing to make GATS commitments, listing almost 40% of total sectors, including 15% with no policy restrictions.

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