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The Political Economy of the World Trading SystemWTO and Beyond$
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Bernard Hoekman and Michel Kostecki

Print publication date: 2001

Print ISBN-13: 9780198294313

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/019829431X.001.0001

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Sector‐Specific Multilateral Trade Agreements

Sector‐Specific Multilateral Trade Agreements

(p.208) 6 Sector‐Specific Multilateral Trade Agreements
The Political Economy of the World Trading System

Bernard M. Hoekman

Michel M. Kostecki (Contributor Webpage)

Oxford University Press

This chapter looks at the major sector‐specific agreements that have been negotiated under the auspices of GATT (General Agreement on Tariffs and Trade), and in particular at agriculture, and textiles and clothing. Both of these are sectors that have a long history of protectionism in many countries, and much remains to be done to lower barriers to trade to levels that approach the average prevailing in other sectors. Over time, both sectors were gradually removed from the GATT 1947 disciplines, and it was only during the Uruguay Round that they were re‐integrated into the trading system; the Uruguay Round agreements reached on the sectors are due to be fully implemented in 2005. The chapter also discusses the Information Technology Agreement (ITA), which was negotiated amongst a subset of WTO members during 1996, although it is applied on an MFN (most favoured nation) basis. The sections of the chapter are as follows: Agriculture; Textiles and clothing; The Information Technology Agreement; and Conclusion.

Keywords:   agriculture, GATT, General Agreement on Tariffs and Trade, Information Technology Agreement, ITA, MFN, most favoured nation, protectionism, textiles and clothing, trade barriers, trading system, Uruguay Round, World Trade Organization, WTO

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