By Riccardo Faini, Enzo R. Grilli
The e-book bargains with either the fast and the long-run results of the Uruguay around: the aid within the hindrances to alternate, the growth of the multilateral procedure, the hot institutional framework and the stability among regionalism and multilateralism in international exchange relatives. Its conclusions are according to thought, political financial system and empirical analysis.
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Extra info for Multilateralism and Regionalism after the Uruguay Round
Tariff escalation15 was also significantly reduced.
Trade in these products had been kept outside GATT' s domain at the insistence of both the USA and the EC. It was quantitatively regulated within the framework of successive MFAs. Despite some relaxation, the import regime on textiles and clothing enforced by the main industrial countries was quite restrictive for developing exporting countries and thus harmful of their trade interests (Grilli, 1990; Hamilton, 1990). The dismantling of the MFAs and the placing of trade in textiles and clothing firmly in the GATT framework was thus an objective that developing countries very much wanted to pursue.
Actually, the services sector was not immediately included in GAIT negotiations. A specific body, the Negotiating Committee on Services, was first set up to deal with the difficult issues involved in this sector. The Committee worked parallel to the negotiations of the Uruguay Round. Its findings came to constitute GATS. The negotiating principles agreed upon in this sector were particularly important. In response to the concerns of the many countries which were initially reluctant to start the negotiations, the Declaration of Punta del Este clearly stated that the new regulatory framework had to conform to the political objectives of international laws and regulations and also had to take into account the work of the competent international organizations.