Page:United States Statutes at Large Volume 62 Part 3.djvu/1065

 3686 61 Stat., Pt. 6, p. A14. INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [62 STAT. "C "6. If a contracting party in the interest of its economic develop- ment or reconstruction considers it desirable to adopt any non-dis- criminatory measure affecting imports which would conflict with the provisions of this Agreement other than article II, but which would not apply to any product in respect of which the contracting party has assumed an obligation under article II, such contracting party shall notify the CONTRACTING PARTIES and shall transmit to the CONTRACT- ING PARTIES a written statement of the considerations in support of the adoption, for a specified period, of the proposed measure. "7. (a) On application by such contracting party the CONTRACT- ING PARTIES shall concur in the proposed measure and grant the necessary release for a specified period if, having particular regard to the applicant contracting party's need for economic development or reconstruction, it is established that the measure "(i) Is designed to protect a particular industry estab- lished between 1 January 1939 and 24 March 1948, which was protected during that period of its development by abnormal conditions arising out of the war; or "(ii) Is designed to promote the establishment or de- velopment of a particular industry for the process- ing of an indigenous primary commodity, when the external sales of such commodity have been materially reduced as a result of new or increased restrictions imposed abroad; or "(iii) Is necessary in view of the possibilities and resources of the applicant contracting party to promote the establishment or development of a particular indus- try for the processing of an indigenous primary commodity, or for the processing of a by-product of such industry, which would otherwise be wasted, in order to achieve a fuller and more economic use of the applicant contracting party's natural re- sources and manpower and, in the long run, to raise the standard of living within the territory of the applicant contracting party, and is unlikely to have a harmful effect, in the long run, on inter- national trade; or "(iv) Is unlikely to be more restrictive of international trade than any other practicable and reasonable measure permitted under this Agreement, which could be imposed without undue difficulty, and is the one most suitable for the purpose having regard to the economies of the industry or branch of agri- culture concerned and to the applicant contracting party's need for economic development or recon- struction.

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