TRADE REMEDIES: The Safeguards Measure and its Application in Selected Countries
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Post Date: 15 August 2013
International trade encompasses a host of countries, activities, functions, processes, products (goods and services) and people, tasked with various duties that are geared towards driving forward this lucrative field. International trade is currently conducted within the World Trade Organization (WTO) multilateral framework. Under this framework, there are rules that govern the manner trade transactions are conducted by Member countries of the WTO; this is because in the course of conducting trade, a host of challenges tend to occur.
The rules governing trade transactions are articulated in Article XIX of the General Agreement on Tariffs and Trade (GATT) 1994. One common challenge that countries face in the process of trading is import surge, which can loosely be defined as an unusual increase of an import product. There is a legal provision of the WTO under Article XIX of the GATT which deals with remedies of import surges. As members of the WTO, countries like India, South Africa and Canada have domesticated the WTO Agreement on Safeguards; however, Kenya has not established the legal and institutional framework under which the WTO Safeguards Agreement can operate.