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Objectives Of Trims Agreement

These notified TRIMs were to be removed by December 31, 1999. None of these measures are currently in effect. As a result, India has no outstanding obligations under the TRIMs agreement with respect to notified TRIMs. Under the TRIM agreement, members are required to report their existing TRIMs to the WTO Merchandise Exchange Council that are incompatible with the agreement. The Ministerial Declaration of Punta del Este, which launched the Uruguay Round, addressed the issue of trade-related investment measures as a theme of the new round through a carefully crafted compromise: after examining the functioning of the GATT articles with regard to the restrictive and trade-distorting effects of investment measures, negotiations should , if necessary, develop other provisions that may be necessary to avoid such negative effects on trade. The emphasis on the commercial effects of this mandate highlighted the fact that the negotiations were not intended to deal with the regulation of investments as such. The Uruguay Round negotiations on trade-related investment measures were marked by strong differences of opinion among participants on the coverage and nature of possible new disciplines. While some industrialized countries have proposed provisions prohibiting a wide range of measures in addition to local content requirements, which were found to be inconsistent with Article III in the case of the FIRA Panel, many developing countries have opposed them. The compromise that ultimately resulted from the negotiations is essentially limited to an interpretation and clarification of the application of the GATT provisions on the questioning of imported goods (Article III) and quantitative import or export restrictions on trade-related investment measures (Article XI). The TRIPS agreement therefore does not cover many of the measures discussed in the Uruguay Round negotiations, such as export results and technology transfer. Among the objectives of the agreement, as defined in its preamble, are the gradual expansion and liberalization of world trade and the facilitation of investment across international borders in order to increase the economic growth of all trading partners, particularly developing countries, while ensuring free competition. The Trade-Related Investment Measures Agreement (TRIM) is a rule that applies to national rules applied by a country to foreign investors, often as part of an industrial policy. The 1994 agreement was negotiated under the WTO`s predecessor, the General Agreement on Tariffs and Trade (GATT), and came into force in 1995.

The agreement was reached by all members of the World Trade Organization. Trade-related investment measures are one of the four main legal agreements in the WTO trade agreement. Political measures, such as local content requirements and trade balance rules, which have traditionally been used to promote the interests of domestic industries and combat restrictive trade practices, are now prohibited. Trade-related investment measures are one of the four main legal agreements in the WTO trade agreement.