TNAG-1494-FCO40-2052-Future-of-Hong-Kong-General-Agreement-on-Tariffs-and-Trade-(-1986 — Page 18

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DEVELOPING COUNTRIES

2. The "General Principles governing the negotations"

repeat the established position that developed

countries do not expect reciprocity from developing

countries where this would be inconsistent with

developing countries' individual development, financial

and trade needs. But the Declaration also records

developing countries' expectations that as their

economic and commercial situations improve they would

participate more fully in the framework of rights and

obligations under the General Agreement. Developed

countries, notably the EC, interpret this as meaning

that the newly industrialised countries (NICS) should

participate to a much greater extent than hitherto in

the process of liberalisation to be undertaken during

the Round (in other words, graduation).

Déclaration makes provision for special treatment of

the least developed.

The

SUBJECTS FOR NEGOTATIONS:

TARIFFS AND NON-TARIFF MEASURES

3. Tariffs will be discussed, particularly the

reduction of high tariffs and the removal of tariff

escalation, with emphasis on cases where the extent of

bound (i.e fixed) tariffs is low (eg. Australia, New

M29AAX(7)

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ZEALAND'