Business Guide to the Uruguay Round

image of Business Guide to the Uruguay Round
This guide explains the rules of the Uruguay Round trade agreements and their implementation. It provides an overview of achievements of the Uruguay Round and the legal system established by it and explains the role of the World Trade Organization (WTO). It also presents the rules applicable to trade and examines their implications for trade liberalization, reviewing the main features of General Agreement on Trade in Services (GATS), the rules applicable to government procurement and state trading and it describes the provisions of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS).

Published jointly by the International Trade Centre UNCTAD/WTO (ITC) and the Commonwealth Secretariat.



Preshipment inspection

The Agreement on Preshipment Inspection (PSI), negotiated in the Uruguay Round, provides developing countries with a means for dealing with the problem of under- or over-valuation of imported goods. Over 30 developing countries currently use the services of PSI companies for mandatory and independent verification in the exporting country of the prices of goods to be imported. The Agreement recognizes that the use of such services by developing countries may be necessary to prevent over- and under-invoicing and fraud.


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