FOREIGN ECONOMIC AND COMMERCIAL POLICY


quired to notify the Contracting Parties of the extent and nature of
the subsidization, of the estimated effect of the subsidization on the
quantity of the affected product or products imported into or exported
from its territory and of the circumstances making the subsidization
necessary.
   (ii) Article XIX: Emergency Action on Imports of Particular
Products. Paragraph 2 requires a contracting party to give prior
notice to the Contracting Parties of any decision to suspend an obliga-
tion or to withdraw or modify a concession under the provisions of
paragraph 1.
  (iii) Article XXIV: Customs Unions and Free Trade Areas. A
contracting party deciding to enter into a customs union or free trade
area, or an interim agreement leading to the formation of such a union
or area, is required to notify the Contracting Parties (sub-paragraph
7(a)). Similarly, a contracting party making a substantial change
in the plan or schedule included in such an interim agreement is
required to advise the Contracting Parties.
(c) Information which may be requested by the Contracting Parties
  In certain articles of the Agreement, it is expressly provided -that
the Contracting Parties may request from contracting parties reports
on steps taken by them in pursuance of the provisions of a certain
article or information which is necessary for carrying out a certain
action by the Contracting Parties.
   (i) Article VII: Valuation for Customs Purposes. The Contract-
ing Parties may request contracting parties to submit reports on steps
taken by them in pursuance of the provisions of this Article.
   (ii) Annex J: Under paragraph 2 of this Annex the Contracting
Parties may request a contracting party taking action under para-
graph 1 to provide relevant information regarding such action.


   On the other hand the Contracting Parties are required by the pro-
visions of the Agreement to take certain action at certain prescribed
times or under certain prescribed conditions. In taking such action,
it may be thought advisable for the Contracting Parties to request
information from individual contracting parties, although there is
no explicit provision in the Agreement obliging the individual con-
tracting parties to supply such information. The following are among
such provisions:
   (i) Article XII: Restrictions to Safeguard the 'Balance of Pay-
ments: Under paragraph 4(b) the Contracting Parties are required
to review all restrictions applied under Article XII not later than
January 1, 1951, and under paragraph 5 the Contracting Parties are
required to initiate discussions in the event that there exists a per-
sistent and widespread application of restrictions under this Article.
   (ii) Article XIV: Exceptions to the Rule of Non-Discrimination:
 Under paragraph 1 (g) the Contracting Parties are required to report


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