Recognizing that
trade represents an essential
sector of
their
co-operation, and bearing in
mind that the
provisions
contained in the above preamble apply in particular to this
sector,
Considering that the volume and
structure of
trade among the
participating States do not in all
cases correspond to the
possibilities
created by the current level of their
economic,
scientific and
technological development,
are resolved to
promote, on the basis of the
modalities of
their
economic co-operation, the expansion of their
mutual trade
in
goods and
services, and to ensure
conditions favourable to
such
development;
recognize the
beneficial effects which can result for the
development of
trade from the
application of most favoured
nation
treatment;
will
encourage the expansion of
trade on as broad a
multilateral basis as possible, thereby endeavouring to utilize
the various
economic and
commercial possibilities;
note the importance of
monetary and
financial questions for
the
development of
international trade, and will endeavour to
deal with them with a
view to contributing to the continuous
expansion of
trade;
will endeavour to reduce or progressively
eliminate all
kinds of obstacles to the
development of
trade;
will
foster a steady growth of
trade while avoiding as far
as possible abrupt fluctuations in their
trade;
consider that their
trade in various
products should be
conducted in such a way as not to cause or
threaten to cause
serious injury - and should the
situation arise,
market
disruption - in
domestic markets for these
products and in
particular to the detriment of
domestic producers of like or
directly
competitive products; as
regards the
concept of
market
disruption, it is understood that it should not be invoked in a
way inconsistent with the
relevant provisions of their
international agreements; if they resort to
safeguard measures,
they will do so in
conformity with their
commitments in this
field arising from
international agreements to which they are
parties and will take
account of the
interests of the
parties
directly
concerned;
will give
due attention to
measures for the
promotion of
trade and the diversification of its
structure;
note that the growth and diversification of
trade would
contribute to widening the possibilities of
choice of
products;