Atc Trade Agreement

(11) In extremely unusual and critical circumstances in which a delay would cause a harm that is difficult to repair, action may be taken on an interim basis in accordance with paragraph 10, provided that the request for consultation and notification to the TMB are made within a maximum of five working days from the time the measure is taken. If the consultation does not reach an agreement, the TMB informs the TMB at the end of the consultations and no later than sixty days after the implementation date of the action. The TMB immediately reviews the issue and makes appropriate recommendations to the members concerned within 30 days. In the event that consultations reach an agreement, members notify the TMB once completed and no later than 90 days after the action is implemented. The TMB may make recommendations that it deems appropriate for the members concerned. Simon Lester is President of WorldTradeLaw.net LLC, which operates an online subscription service for WTO litigation (www.worldtradelaw.net). Mr. Lester was previously counsel to the secretariat of the WTO appeals body. 5. Any unilateral measure covered by Article 3 of macro-financial assistance prior to the entry into force date of the WTO agreement may remain in force for the specified period of time, but not more than 12 months, if it has been verified by the textile watchdog established under the AMF (in the sense of this agreement as a TSE). If the TSB has not had the opportunity to review such a unilateral measure, the TMB conducts its review in accordance with the rules and procedures governing the measures covered by Article 3 in the context of macro-financial assistance. Any action that is applied under an AMF agreement under Article 4 prior to the entry into force date of the WTO agreement and which is the subject of litigation that the TSB has not been authorized to review is also reviewed by the TMB in accordance with the AMF rules and procedures applicable to such a review.

Recalling that the ministers of Punta del Este agreed that the negotiations in the textile and clothing sector aim to establish modalities for the possible integration of this sector into the GATT, on the basis of strengthened GATT rules and disciplines, thus contributing to further trade liberalisation; 13.

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