Agreement on Trade-Related Investment Measures
Agreement on Trade-Related Investment Measures: TRIMS. A WTO agreement concluded during the Uruguay Round. It aims to eliminate conditions attaching to permission to invest that may distort or restrict trade in goods. The annex to the Agreement contains an illustrative list of trade in goods. The annex to the Agreement contains an illustrative list of TRIMS deemed inconsistent with Article III (National Treatment) and Article XI (General Elimination of Quantitative Restrictions) of the GATT. These are (a) requirements that an enterprise must use a defined amount of products of domestic origin, (b) permission to import related to export performance, and (c) any requirements related to quantitative restrictions of imports. The Agreement also raises in Article 9 the possibility that at a later stage it might include provisions on investment and competition policy. See also foreign direct investment, local content requirements and trade-balancing requirement.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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