4 Policy Implications of the Uruguay Round for Arab Countries

Abstract

The conclusion of the Uruguay Round negotiations on December 15, 1993 marked a significant event for developing countries, including Arab countries. First, negotiations resulted in firm commitments made by as many as 124 nation participants from both developing and industrial countries to reduce tariffs and nontariff measures substantially, and to reduce both nontariff support in agriculture and barriers to trade in services. These trade-liberalizing measures will improve access to developed markets, which is important for countries that have implemented macroeconomic and structural policy reforms aimed to increase efficient resource allocation.

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