Agricultural trade liberalisation in the Uruguay Round

Abstract

Over the past three decades Sri Lanka has made significant progress in undoing a legacy of import-substitution policy pursued vigorously during the first three decades following political independence in 1948. These developments notwithstanding, both high tariffs and quantitative restrictions remain important deterrents to import trade in agricultural goods. The net direct impact of implementation of the market access provisions of the Uruguay Round by other countries on Sri Lanka's agricultural trade is likely to be negligible. What is more important is the potential benefit emanating from significant achievements of the Round in improving the rules for world agricultural trade and ensuring the transparency of such rules. Show more