On foreign investment; (e) the review of the rules governing the origin of imports (certificate of

Origin); (0 a review of the rules governing the application of anti-dumping measures; (g) the reduction

Of restraints on trade in services, such as banking, insurance, transport, tourism, telecommunications

(invisibles); (h) the international protection of intellectual property rights (e.g. patents, trademarks,

Copyright); (i) the review of the Multi-Fibre Arrangement. The negotiations were concluded

And agreement signed in 1994. Industrial tariffs in developed countries were to be reduced from an

Average of 6.3 per cent to 3.9 per cent and the proportion of imports free of tariffs was to be increased

from 20 per cent to 43 per cent. All tariffs were to be “bound,” that is never raised. The Multi-Fibre

Arrangement was to be phased out. For the first time, services were to be, in principle, subject to the

Same multilateral trading rules as industrial products. However, agreement could not be reached on

Telecommunications, financial services, and shipping. Under the General Agreement on Tariffs and

Trade, agriculture had been excluded from many provisions which applied to other products, such as

Those relating to export subsidies and import quotas. The Umguay Agreement brought agriculture

Into the multilateral system of trading rules. Non-tariff barriers were converted into tariffs and these