Page:United States Statutes at Large Volume 62 Part 3.djvu/1063

 INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [62 STAT. E 618tat., Pt.6, p. 3 . The text of article XVIII shall read: "ARTICLE XVIII "Governmental Assistance to Economic Development and Reconstruction "1. The contracting parties recognize that special governmental assistance may be required to promote the establishment, develop- ment or reconstruction of particular industries or branches of agricul- ture, and that in appropriate circumstances the grant of such assist- ance in the form of protective measures is justified. At the same time they recognize that an unwise use of such measures would impose undue burdens on their own economies and unwarranted restrictions on international trade, and might increase unnecessarily the difficulties of adjustment for the economies of other countries. "2. The CONTRACTING PARTIES and, the contracting parties con- cerned shall preserve the utmost secrecy in respect of matters arising under this article. "A Post, p. 3691. 61 Stat., Pt. 5, p. A13. 61 Stat., Pt. 5, p. a14. 61 Stat., Pt. 6, p. A91. "3. If a contracting party, in the interest of its economic develop- ment or reconstruction, or for the purpose of increasing a most- favoured-nation rate of duty in connexion with the establishment of a new preferential agreement in accordance with the provisions of paragraph 3 of article I, considers it desirable to adopt any non- discriminatory measure affecting imports which would conflict with an obligation which the contracting party has assumed under article II of this Agreement, but which would not conflict with other provi- sions in this Agreement, such contracting party " (a) Shall enter into direct negotiations with all the other contract- ing parties. The appropriate Schedules to this Agreement shall be amended in accordance with any agreement resulting from such negotiations; or "(b) Shall initially or may, in the event of failure to reach agree- ment under sub-paragraph (a), apply to the CONTRACTING PARTIES. The CONTRACTING PARTIES shall determine the contracting party or parties materially affected by the pro- posed measure and shall sponsor negotiations between such contracting party or parties and the applicant contracting party with a view to obtaining expeditious and substantial agreement. The CONTRACTING PARTIES shall establish and communicate to the contracting parties concerned a time schedule for such negotiations, following as far as practicable any time schedule which may have been proposed by the applicant contracting party. The contracting parties shall commence and proceed continuously with such negotiations in accordance with the time schedule established by the CON- TRACTING PARTIES. At the request of a contracting party, the CONTRACTING PARTIES may, where they concur in princi- 3684

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