The Kennedy Round took place from 1962 to 1967. Tariffs of $40 billion have been abolished or reduced. Answer the following questions, then click „Submit“ to get your score. In the Punta del Este Ministerial Declaration, which launched the Uruguay Round, the issue of trade-related investment measures was included as the theme of the new round through a carefully prepared compromise: having considered the application of GATT articles in the context of the restrictive and trade-distorting effects of investment measures, other provisions should be developed in the course of the negotiations, if necessary, which may be necessary to avoid such negative effects on trade. The focus on trade effects in this mandate made it clear that the negotiations were not intended to address investment regulation as such. The Uruguay Round negotiations on trade-related investment measures were marked by strong differences of opinion among participants on the coverage and nature of possible new disciplines. While some developed countries have proposed provisions that would prohibit a wide range of measures in addition to local content requirements that were found to be inconsistent with Article III of the FIRA Group, many developing countries have rejected it. The compromise that ultimately emerged from the negotiations is essentially limited to an interpretation and clarification of the application of GATT provisions on domestic treatment of imported products (Article III) and quantitative restrictions on imports or exports (Article XI) to trade-related investment measures. As a result, the TRIPS Agreement does not cover many of the measures discussed in the Uruguay Round negotiations, such as export performance and technology transfer requirements. Point (a) of paragraph 2 of the indicative list includes measures limiting the importation by a company of products used in its local production in general or to an amount based on the volume or value of local production exported by the company. There is a conceptual similarity between this paragraph and point (b) of paragraph 1, as both cover trade equalisation measures. The difference lies in the fact that point (b) of paragraph 1 concerns internal measures affecting products after their importation, while point (a) of paragraph 2 refers to cross-border measures affecting the import of products. As an agreement based on existing GATT disciplines on trade in goods, the agreement is not intended to regulate foreign investment.
The disciplines of the TRIPS Agreement focus on investment measures that violate Gatt Articles III and XI, in other words, that distinguish between imported and exported products and/or create import or export restrictions. For example, a local content requirement imposed in a non-discriminatory manner on domestic and foreign companies is inconsistent with the TRIPS Agreement because it implies discriminatory treatment of imported products in favour of domestic products. The fact that there is no discrimination between domestic and foreign investors in the imposition of this requirement is not relevant under the TRIPS Agreement. The creation of the GATS was one of the important milestones of the Uruguay Round, the results of which entered into force in January 1995. .