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regulated in any manner by quantity or value, or by amounts of exchange made available.

[3. Members agree to make available to the Organization, in as detailed and accurate a manner as practicable, such statistics on other economic subjects as the Organization deems necessary in connection with the fulfillment of its functions, and in particular statistics relating to balances of payments and prices, so far as the statistics are not being furnished to any other international organization having functions to which the statistics are more particularly related and from which the Organization can obtain the required information.

[4. The Organization shall act as a center for the collection and exchange of statistical and other information relating to international trade, thus facilitating the preparation of studies designed to assist Members in developing policies which further the purposes of this Charter. The Organization shall make such data available to the Economic and Social Council of the United Nations and to other interested international organizations and shall, in cooperation with these organizations, seek to bring about improvements in the methods of collecting, analyzing and publishing economic statistics particularly those relating to international trade, and to promote the international comparability of such statistics, including the international adoption of standard commodity classifications. The Organization shall also, in cooperation with such other organizations, compile and publish summary comparative statistics relating to the subjects specified in paragraph 1 of this Article.

[5. Members agree to publish the statistics referred to in paragraph 1 of this Article promptly and in as much detail as practicable and to cooperate with the Organization in carrying out the objectives of paragraph 1 of this Article.

(6. Members undertake to cooperate with the Organization in promoting the international adoption of standard definitions of terms customarily used in commercial practice, and in developing standards to which goods may be manufactured or graded. Members undertake to cooperate in introducing such standards as are found to be desirable and practicable to encourage the freer movement of goods in international trade.

17. The Organization, in cooperation with the other organizations referred to in paragraph 4 of this Article, may adopt standards, nomenclature, terms and forms to be used in official documents and statistics of Members in the field of international trade. Such standards, nomenclature, terms or forms shall automatically become effective as to all Members of the Organization after notice has been given of their adoption by the Organization, except for such Members as may notify the Director General of rejection or reservations within the period stated in the notice, which period shall be not less than six months.)

Article 23. Boycotts [No Member shall encourage, support or participate in boycotts or other campaigns which are designed to discourage, directly or indirectly, the consumption within its territory of products of other Member countries on grounds of origin, or the sale of products for consumption within other Member countries on grounds of destination. Moreover, each Member shaH discourage, by such means as may be available to it, such campaigns by political entities within its jurisdiction.]

SECTION B. Tariffs and Tariff Preferences

Article 24. Reduction of Tariffs and Elimination of Preferences

Each Member, other than a Member subject to the provisions of article 33, shall, upon the request of any other Member or Members, enter into reciprocal and mutually advantageous negotiations with such other Member or Members directed to the substantial reduction of tariffs and other charges va imports and exports, and to the elimination of import tariff preferences. These negotiations shall proceed in accordance witb the following rules:

(a) Prior international commitments shall not be permitted to stand in the way of negotiations with respect to tariff preferences, it being understood that action resulting from such negotiations shall not require the modification of existing international obligations, except by agreement between the contracting parties, or, failing that, by termination of such obligations in accordance with their terms.

(6) All negotiated reductions in most-favored-nation import tariffs shall operate automatically to reduce or eliminate margins of pref


(c) The binding or consolidation of low tariffs or of tariff-free treatment shall in principle be recognized as a concession equivalent in value to the substantial reduction of high tariffs or the elimination of tariff preferences.

2. Each Member participating in negotiations pursuant to paragraph 1 of this article shall keep the Organization informed of the progress thereof and shall transmit to the Organization a copy of the agreement or agreements incorporating the results of such negotiations.

3. If any Member considers that any other Member has failed, within a reasonable period of time, to fulfil its obligations under paragraph 1, such Member may refer the matter to the Organization, which shall investigate the matter and make appropriate recommendations to the Members concerned. The Organization, if it finds that a Member has, without sufficient justification, having regard to the provisions of the Charter as a whole, failed to negotiate with such complaining Member in accordance with the requirements of paragraph 1, may determine that the complaining Member, or in exceptional cases the Members of the Organization generally, shall, notwithstanding the provisions of article 14, be entitled to withhold from the trade of the other Member any of the tariff benefits which the complaining Member or the Members of the Organization generally, as the case may be, may have negotiated pursuant to paragraph 1. If such benefits are in fact withheld so as to result in the application to the trade of the other Member of tariffs higher than would otherwise have been applicable, such other Member shall then be free, within 60 days after such action is taken, to withdraw from the Organization upon the expiration of 60 days from the date on which written notice of such withdrawal is received by the Organization. The provisions of this paragraph shall operate in accordance with the provisions of article 67.

Section C. Quantitative Restrictions and Exchange Control

Article 25. General Elimination of Quantitative Restrictions 1. Except as otherwise provided elsewhere in this Charter, no prohibition or restriction, other than duties, taxes, or other charges, whether made effective through quotas, import licenses, or other measures, shall be imposed or maintained by any Member on the importation of any product of any other Member or on the exportation or sale for export of any product destined for any other Member.

2. The provisions of paragraph 1 of this article shall not extend to the following:

(a) Prohibitions or restrictions on imports or exports imposed or maintained during the early post-war transitional period, which are

essential to

(i) the equitable distribution among the several consuming countries of products in short supply, whether such products are owned by private interests or by the government of any Member, or,

(ii) the maintenance of wartime price control by a country undergoing shortages subsequent to the war, or

(ii) the orderly liquidation of temporary surpluses of stocks owned or controlled by the government of any Member or of industries developed in the territory of any Member owing to the exigencies of the war which it would be uneconomic to maintain in normal conditions: Provided, that restrictions under (iii) of this subparagraph may be imposed by any Member only after consultation with other interested Members with a view to appropriate international action. Import and export prohibitions and restrictions imposed or maintained under this subparagraph shall be removed as soon as the conditions giving rise to them have ceased, and in any event, not later than July 1, 1949: Provided, that this period may, with the concurrence of the Organization, be extended in respect of any product for further periods not to exceed six months each.

(6) Export prohibitions or restrictions temporarily imposed to relieve critical shortages of foodstuffs or other essential products in the exporting country.

(c) Import and export prohibitions or restrictions necessary to the application of standards for the classification and grading of commodities in international commerce. If, in the opinion of the Organization, the standards adopted by a Member under this subparagraph are likely to have an unduly restrictive effect on trade, the Organization may request the Member to revise the standards, Provided, that it shall not request the revision of standards internationally agreed under paragraph 6 of article 22.

(d) Export or import quotas imposed under intergovernmental commodity agreements concluded in accordance with the provisions of chapter VII.

(e) Import restrictions on any agricultural or fisheries product, imported in any form, necessary to the enforcement of governmental measures which operate

(i) to restrict the quantities of the like domestic product permitted to be marketed or produced, or

(ii) to remove a temporary surplus of the like domestic product by making the surplus available to certain groups of domestic consumers free of charge or at prices below the current market level.

(6) Any Member imposing restrictions on the importation of any product pursuant to subparagraph (e) shall give public notice of the total quantity or value of the product permitted to be imported during a specified period and of any change in such quantity or value (provided that any supplies of the product in question which were en route at the time at which public notice was given shall not be excluded but may be counted, so far as practicable, against the quantity permitted to be imported in the period in question). Moreover, any restrictions imposed under (i) of subparagraph (e) shall not be such as will reduce the total of imports relative to the total of domestic production, as compared with the proportion which might reasonably be expected to rule between the two in the absence of the restrictions. In determining this proportion the Member shall pay due regard to the proportion prevailing during a previous representative period and to any special factors which may have affected or may be affecting

? The Preparatory Committee recommended that the words in parentheses in 2 (1) should be retained only if the matter was not fully covered in art. 21.

the trade in the product concerned. The Member shall consult with any other Members which are interested in the trade in question and which wish to initiate such consultations.

(9) Import and export prohibitions or restrictions imposed on private trade for the purpose of establishing a new or maintaining an existing monopoly of trade for a state-trading enterprise operated under articles 31, 32, and 33. Article 26. Restrictions To Safeguard the Balance of Payments

1. Members may need import restrictiors as a means of safeguarding their external financial position and as a step towards the restoration of equilibrium on a sound and lasting basis, particularly in view of their increased demand for the imports needed to carry out their domestic employment, reconstruction, development or social policies. Accordingly, notwithstanding the provisions of article 25, Members may restrict the quantity or value of merchandise permitted to be imported so far as this is necessary to safeguard their balance of payments and monetary reserves. The use of import restrictions under this paragraph shall conform to the conditions and requirements set out in paragraphs 2, 3, and 4.

2. Members undertake to observe the following principles in the use of such restrictions:

(a) To refrain from imposing new or intensifying existing restrictions except to the extent necessary (having due regard to any special factors which may be affecting the level of the Members' reserves, to any commitments or other circumstances which may be affecting its peed for reserves, or to any special credits or other resources which may be available to protect its reserves):

(i) to stop or to forestall the imminent threat of a serious decline in the level of monetary reserves; or

(ii) in the case of a Member with very low monetary reserves to achieve a reasonable rate of increase in its reserves.

(6) To eliminate the restrictions when conditions would no longer justify the imposition of new restrictions under subparagraph (a), and to relax them progressively as such conditions are approached.

(c) Not to carry the imposition of new import restrictions or the intensification of existing restrictions under subparagraph (a) to the point at which it involves the complete exclusion of imports of any class of goods.

3. (a) Any Member which, while not imposing restrictions under paragraphs 1 and 2, is considering the need for the imposition of restrictions, before imposing such restrictions (or, in conditions in which previous consultation is impracticable, soon as possible after imposing such restrictions) shall consult with the Organization as to the nature of its balance of payments difficulties, the various corrective


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