Convention on a Code of Conduct for Liner Conferences
Convention on a Code of Conduct for Liner Conferences: more often known as the UNCTAD Liner Code. An intergovernmental “best- endeavours” agreement concluded in 1987 under UNCTAD auspices which seeks to develop the share of commodities and goods carried in developing country ships in order to improve their balance of payments. The Code’s underlying principle is the 40-40-20 ratio which, although not specified in the Convention, allocates informally 40% of trade to shipping lines of the importing country, 40% to those of exporting country and 20% to third- country shipping lines. Liner code member countries have had difficulties achieving these figures in the face of commercial reality and changing directions of trade. See also MFN exemptions.
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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