Countervailing duties — компенсационные пошлины, зависящие от обстоятельств

Material injury — материальный ущерб

By the middle of the 1990s integration processes were begun in South America, which resulted

In a customs union of Argentina, Brazil, Paraguay, and Uruguay. By the Treaty of Asuncion in 1991

And a final Protocol signed in 1994, they agreed to establish the MERCOSUR, or Southern Cone

Common market between their four countries from January 1995. Tariffs were abolished on about

Per cent of intra-MERCOSUR trade. Tariffs, retained on specified exemptions, were to be

Removed by 1999. At the same time a Common External Tariff (CET) ranging from zero to 20 per

Cent was levied against about 90 per cent of goods imported from outside the union. Particular

Exemptions to this CET regime were to be lifted by 2001. In 1996 Bolivia and Chile became associate

Members. Most non-agricultural trade between Chile and MERCOSUR would be free of

Tariff protection by 2004 and on agricultural products by 2014.

GATT’s Tokyo Round o f Trade Negotiations

19.7.1.3. Read and translate the text “TVade Pact — MERCOSUR”

Trade Pact - MERCOSUR

Commentary and Notes to Text 19.7.1.3

MERCOSUR — Общий рынок Южного конуса

The Treaty of Acuncion — Асунсьонский договор

Exemptions — исключения