A key market access issue for developing countries will be the inclusion of industrial products. Developing countries now depend on manufactures for an average of three quarters of their export revenues—the world is very different from that represented by traditional north-south models. If manufactures are included, developing countries stand to gain from reductions in tariff peaks in industrial countries, from increased market access in other developing countries, and from efficiency gains resulting from lowering their own barriers. In agriculture, there are potentially substantial gains to developing countries, and particularly to the many developing countries in Latin America whose exports are hamstrung by barriers in the industrial countries. The modalities of liberalization will be very important in this sector, particularly in light of the Tariff Rate Quotas which reduce transparency and increase the risk that some countries might lose from further tariff liberalization. Fortunately, it appears that these risks can be greatly diminished by policies that combine reductions in out-of-quota tariffs with increases in the volumes allowed under the quotas. In services, key objectives will be to expand the coverage of the GATS, to increase transparency and to make commitments more general.
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Article provided by Instituto de Economía. Pontificia Universidad Católica de Chile. in its journal Cuadernos de Economía.
Find related papers by JEL classification: F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations O19 - Economic Development, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations P19 - Economic Systems - - Capitalist Systems - - - Other
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