Diplomatist Magazine Diplomatist April 2018 - Page 8

COVER STORY immunity granted by any contracting party to any product originating in or destined for any other country shall be accorded immediately and unconditionally to the like product originating in or destined for the territories of all other contracting parties’. The PTAs do have a fundamental conflict with multilateralism, as these are built on the foundation of discrimination with the non-members while liberalising trade . RTAs are an exceptional situation under the multilateral trading system enunciated within the WTO. However, the GATT, and now the WTO, recognises the conditional right of members to form RTAs and to the extent necessary, set aside some WTO obligations. PTAs are legally permitted, subject to compliance of certain conditions, under Article XXIV of GATT 1994 as an integral part of the WTO agreement effective from 1995. These conditions stipulate that on the formation of a PTA, the custo 2GWFW26BFRvR&RvW" &R&W7G&7FfRF&Vf&RvRƖ&W&Ɨ6rG&FRFPd&62V&W"6VG&W2bFRuD&Rf7Bfpf'v&BFf&WrD2BF7G&VwFVFRW7FrW2%D2&RFW2vVBVFW"FRVFFW&G&Fp77FV2W6WFFFRd&6RbFRuDFR&VƖVbFBFWvVBf6ƗFFRG&FRƖ&W&Ɨ6FBFRVFFW&WfVFRFV2FB&VvƗ6vV@w&GVǒWBVFrFVFFW&G&FRƖ&W&Ɨ6F27V6BvVBf6ƗFFRFRf&Fbf"@Ɩ&W&Ɨ6VBv&G&Fr&VvRvWfW"%D2&V@FfR6W'FG&FRF7F'FVffV7G2F2G&FRF7F'F&6W2&V6W6RbFRF67&֖F'G&VFVBGf6VBFFRV&W'2bFR%Df2:f2G2V&W'2F0F67&֖F'G&VFVB&6W2&V6W6RbFR7&V6V@&WB66W72w&FVBFFRV&W'2bFR6R&Vv&6vWfW"&V6W6RbFRF67&֖F'Vf&V@7&VFVB'G2f&FD2&VBF&W7VB6PVBbG&FRFfW'6VFFW&VvFF2vFuD&RV6&P6WBFR66FW&&RFR&Vf&RƗ6Fv62VBFFRw&vrGG&7FfVW72b&Vvw&VVVG2G&FR7&VFBG&FRFfW'6&RFRGv6v6@7G2bf&FbD2खFw27W'&VBVvvVVB%D2FVBFuD%DR6fW&vRGPFF@F( 2vG0vG2`6W'f6W0vG2`6W'f6W0vG2`6W'f6W0F64TFFFRbVG'Ff&6P6W@Vr7FGW26vF&W04eDbTFFR`F6FԧVpB6Wf&6Pf&6RFF@FeDbTb6WԧVf&6RF6eDbTVr#rԦ#rf&6R#Vr#R2ԧV#R2''VVז#6&FFW66ƗW36v&SfWBӲFCFFWF&V&WV&Ɩ0`fv7FFFW6WF&VФFFФfv7FU$45U"ФFvG0vG2`6W'f6W0vG24eDbT"VrԧV#r7BԦf&6Pf&6R4"22f&6RvG24#2fV"ԧVf&6R6RFF&WFखF6v&RvG0vG0vG2`6W'f6W0vG24eDeDbT2Ԧ3ԧV2rrVrp#ԧV`VrRf&6Pf&6Pf&6R&vVF'&ð&wVW'VwVF6SF&WFFF6v&PeDrԧV"RFV2f&6RF7&F7&6W&6SuDb( "WG&&F'BVFVF'FF7B( "fb( "77VRB( "&#F