New Commercial Policy Instrument
New commercial policy instrument in Global Commerce Policy
In this regard, new commercial policy instrument is: NCPI. The entries on trade policy are here. A regulation adopted by the European Community in 1984. The entries on trade policy are here. It allows firms domiciled within its territory to petition the European Commission for redress against illicit commercial practices by third countries causing injury to Community industries. The NCPI may be invoked only if the illicit practice concerned is incompatible with international law or generally accepted rules, and the practice must be attributable to a third country. The entries on trade policy are here. It cannot be used where other trade remedies already exist. For example, it would not be possible to seek anti-dumping measures under this regulation. The regulation appears to have been modelled to some extent on Section 301 under United States law. The entries on trade policy are here. It differs from Section 301, however, in that it emphasizes the protection of the European Community against foreign practices rather than the opening up of other markets. The 1984 NCPI was used rarely. The entries on trade policy are here. In 1994 it was revised, partly to bring it into line with the European Community’s obligations under the WTO instruments. Major changes were that “illicit” practices was replaced by “obstacles to trade”, and services were also included in its ambit. These changes have not altered the character of the NCPI as a whole.[1]
New commercial policy instrumentin the wold Encyclopedia
For an introductory overview on international trade policy, see this entry.
Resources
Notes and References
- Dictionary of Trade Policy, “New commercial policy instrument” entry (OAS)
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