Page:United States Statutes at Large Volume 61 Part 5.djvu/68

 ;1 SrAT.] (FNER'IAL A(TGREEMENT ON TARIFFS ANI)TRAI)E-OCT. 3, 1!)47 (b) No contracting party shall institute or maintain any interim agreement under the provisions of paragraph 2 (b) of this Article if, after a study of the plan and schedule proposed in such agreement, the CONTRACTING PARTIES find that such agree- ment is not likely to result in such a customs union within a reasonable length of time. (c) The plan or schedule shall not be substantially altered without consultation with the CONTRACTING PARTIES. 4. For the purposes of this Article a customs territory shall be understood to mean any territory with respect to which separate tariffs or other regulations of commerce are maintained for a substantial part of the trade of such territory with other territories. A customs union shall be understood to mean the substitution of a single customs territory for two or more customs territories, so that all tariffs and other restrictive regulations of commerce as between the territories of members of the union are substantially eliminated and substantially the same tariffs and other regulations of commerce are applied by each of the members of the union to the trade of territories not included in the union. 5. Taking into account the exceptional circumstances arising out of the establishment of India and Pakistan as independent states and recognizing the fact that they have long constituted an economic unit, the contracting parties agree that the provisions of this Agreement shall not prevent the two countries from entering into special arrangements with respect to the trade between them, pending the establishment of their mutual trade relations on a definitive basis. ['] 6. Each contracting party shall take such reasonable measures ' [Post, p. A89.] A67

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