Special Agreement On Commodity Arrangements

Special Agreement on Commodity Arrangements in Global Commerce Policy

In this regard, special agreement on commodity arrangements is: SACA. The entries on trade policy are here. A proposal emerging in early 1955 among GATT contracting parties for an agreement to deal outside normal market forces with the disequilibrium between production and consumption of primary commodities, particularly agricultural commodities. SACA was meant to exist alongside the GATT, though it was never determined what their legal relationship would be. The entries on trade policy are here. It had initial support from many important commodity traders, but indifference to it by the United States, the largest commodity trader, led to a wide range of irreconcilable views among others on its structure. Some thought that the problems of trade in primary commodities should only be dealt with under the GATT. The proposal had lapsed by the end of the year. See also agriculture and the multilateral trading system and GATT review session.[1]

Special Agreement on Commodity Arrangementsin the wold Encyclopedia

For an introductory overview on international trade policy, see this entry.

Resources

Notes and References

1. Dictionary of Trade Policy, “Special Agreement on Commodity Arrangements” entry (OAS)

See Also