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News Analysis

Uruguay Round: Too little, too late for Bangladesh?

By A Special Correspondent
The announcement of an agreement on tariff cuts by the Group of Seven In Tokyo last week has led. to some hope that the Uruguay Round of 4rn'det^lks may not fall on Its faccjust yet.
Tnc Uruguay Round of discussion was expected to lead to global agreement on reduction of tarilT and non-tariff barriers to trade in agricultural and textiles and to set down more equitable and comprehensive rules for International trade, including trade in ser-
The General Agreement on Trade and TarilT (GATT) offers a dispute settlement mechanism in the area of international trade. The mechanism has evolved through various rounds of discussion between the GATT members who are officially known as 'Contracting Parties'. The Tokyo Round of discussion ended tn 1979. Earlier there were the Geneva Round in 1947, the Annecy Round in 1949 and the Dillon
Round tn 1961. *
Until the Seventies, discus sion on trade took place in the context of tremendous industrial might in the present day developed countries which had grown under high tariff walls of the inter-war period. Hungry for larger markets, these countries started to move for lower tariff levels In the post- war era. From 1950 to the early 1970s the Industrial countries experienced high productivity and income growth and thus tariff reduc-Uons faced little opposition. The sweeping reduction in trade barriers under the GATT process, however, left the sectors like agriculture and textiles which are of key interest to the emerging developing countries, unattended.
The difficulties faced by the Uruguay Round arose because the talks seek to bring areas considered 'sensitive' by the developed countries, agriculture. textile , etc, under the
purview of multilateral arrangements.
Agriculture is heavily protected in the developed countries. According to study by the Organisation Of Economic Cooperation and Development (OECD), agricultural goods in the developed countries enjoy 45 per cent subsidy compared to less than 3 per cent in developing countries.
Similarly, markets where developing countries have a competitive edge have a high incidence of non-tariff barriers. For example, 39 per cent of the textile items and 63 items of the clothing Items face entry restriction in the developed countries.
For countries like Bangladesh. the failure to remove trade restrictions under the Uruguay Round Is a major probk-m. Bangladesh has been dismantling her own trade barriers in the hope of getting access to the developed country markets in return. The uncertainly surrounding Its Uruguay Round Is making Bangladesh’s economic future uncertain.
If the Uruguay Round Is not completed soon, Bangladesh may find itself In a position where the only way tn which she can maintain the current macro economic stability is by reimposing trade restrictions and accepting slower growth in income.