"We will ensure full and effective implementation of the Uruguay Round results according to the agreed timetables."
Facts & Analysis: In italics are the prominent portions of the Uruguay Round agreements:
Agreement Establishing the WTO
This organization was established over a year ago and international response has been generally positive. There are currently 120 members and the Director General is Renato Ruggerio (Italy).
Agreement on Agriculture
This has been solved by using 'tariffication'ónon-tariff barriers are converted to tariffs and reduced on a schedule. The procedure was considered a major problem for the negotiations but has now been resolved.
Agreement on Sanitary and Phytosanitary Measures
This concerns the application of sanitary and phytosanitary measures - in other words food safety and animal and plant health regulations. The US is not greatly effected by this change as they have standards comparable to most developed states.
Agreement on Textiles and Clothing
Currently, scheduled negotiations are ongoing. The deadline is not until the end of 1997 but the US is pushing to enforce some increase in labour standards against Developing states. The WTO and ILO secretariats are currently collaborating on this matte
Understanding on Rules and Procedures Governing the Settlement of Disputes
Probably the most notable of all changes in trade in the past year. The US has filed 28 cases and had 14 filed against them in the WTO dispute mechanism. As an expert in TIME put it, "The US lose the small ones but wins the big ones." They have also av
Agreement on Trade-Related Investment Measures
Negotiations are currently underway based upon the UNCTAD discussions of the past year. Also the Multilateral agreement on Investment is still scheduled to be complete by the OECD in 1998.
Agreement on Implementation of Article VII (Customs Valuation), Agreement on Pre-shipment Inspection, Agreement on Rules of Origin
Currently, the WTO and the World Customs Union are working toward non-preferential rules of origin with regards to valuation and inspection methods and practices within the appropriate timeframes.
General Agreement on Trade in Services
The US has balked at these negotiations but this has not yet damaged the existing timetables.
In conclusion, US exports are up 14% since the WTO came into affect.
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