Front Matter Page
International Monetary Fund
Reference Note on Trade Policy, Preferential Trade Agreements, and WTO Consistency1
Prepared by the Strategy, Policy, and Review Department
Approved by Tam Bayoumi
September 30, 2010
Contents
I. Background and Information Sources
II. The Context for Fund Advice on Trade Policy
III. Preferential Trade Agreements (PTAs)
A. PTAs and Fund Surveillance
B. Surveillance Modalities
IV. Trade Policy Reforms
A. Objectives, Scope, Sequencing, and Pace of Trade Reform
B. Complementary Policies
C. Use of Import Surcharges
V. WTO-Consistency
A. Introduction
B. Tariff Bindings
C. Other Duties and Charges
D. Fees and Formalities Connected with Importation and Exportation
E. Customs Valuation and Import Reference Prices
F. Discriminatory Domestic Taxes
G. Agriculture
H. Textiles and Clothing
I. Voluntary Export Restraints
J. Import Licensing
K. Trade-Related Investment Measures
L. Preshipment Inspection
M. Subsidies
N. Dumping/Antidumping (AD)
O. Export Measures
P. Major Exceptions to WTO Rules
VI. WTO Committee on Balance of Payments Restrictions
A. Procedures
B. The GATT and the WTO Articles
C. The Fund Statement
D. Scheduling and Representation
BOXES
1. Some Concepts Regarding Preferential Trade Arrangements