What Is A Basic Principle Of The General Agreement On Tariffs And Trade

Prior to the introduction of the Gatt/World Trade Organisation (WTO) Agreement on 1 July 1995, variable import levies were levied on imports from third countries. These duties are now subject to customs duties, i.e. converted into a fixed duty payable in euro per tonne or as a percentage of the import price. Under the agreement, rates were reduced by an average of 36% compared to the base period from 1986 to 1988. In addition, the GATT/WTO Agreement provides for minimum quotas for access to imports at reduced rates equivalent to 5 for the amount of consumption during the reference period. In addition, the European Union is required to grant access to New Zealand butter at a particularly low rate. This amount corresponds to the average amount that New Zealand spends each year in the United Kingdom under bilateral agreements during the GATT and WTO base period. Within the framework of the GATT and WTO commitments, the European Union has concluded a number of bilateral agreements aimed at facilitating market access on a reciprocal basis. . . .