Eximkey - India Export Import Policy 2004 2013 Exim Policy
  1. A Member proposing to apply a safeguard measure or seeking an extension of a safeguard measure shall endeavour to maintain a substantially equivalent level of concessions and other obligations to that existing under GATT 1994 between it and the exporting Members which would be affected by such a measure, in accordance with the provisions of paragraph 3 of Article 12. To achieve this objective, the Members concerned may agree on any adequate means of trade compensation for the adverse effects of the measure on their trade.

  2. If no agreement is reached within 30 days in the consultations under paragraph 3 of Article 12, then the affected exporting Members shall be free, not later than 90 days after the measure is applied, to suspend. upon the expiration of 30 days from the day on which written notice of such suspension is received by the Council for Trade in Goods. the application of substantially equivalent concessions I other obligations under GATT 1994, to the trade of the Member applying the safeguard measure. the suspension of which the Council for trade in Goods does not disapprove.

  3. The right of suspension referred to in paragraph 2 shall not be exercised for the first three years that a safeguard measure is in effect, provided that the safeguard measure has been taken as a result of an absolute increase in imports and that such a measure conforms to the provisions of this Agreement.

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