The Council of Ministers of the European CommunIties decided on March 30, 1971, to put into effect on July 1, 1971, a system of general tariff preferences favouring the exports of manufactures and semimanufactures from developing countries. By taking this decision the European Communities have...

The goal of phasing out, and ultimately eliminating, the differential treatment in trade presently accorded to developing countries was incorporated into the GATT during the Tokyo Round. What are the arguments in favour of this process of “graduation” and what would be its disadvantages?...