Havana Charter
Havana Charter: the final draft of the Charter for an International Trade Organization (ITO), adopted at Havana in 1948. The breadth of its provisions can be gauged from its chapter headings: employment and economic activity, economic development and reconstruction, investment, restrictive business practices, inter-governmental commodity agreements, and commercial policy. Australia and Liberia were the first two countries to ratify the Charter, but Australia did so on the condition that the United Kingdom and the United States would do likewise. Indeed, most of the other negotiators waited for the United States to declare its hand before initiating ratification. The Charter never became part of international trade law for quite complex reasons. It was meant to be a binding set of articles, but successive rounds of negotiations on its contents gradually turned more and more of them into best-endeavours obligations. Developing countries opposed an open investment regime. Ultimately, the aims of the Charter became entangled in United States domestic politics and concerns that it would constrain domestic sovereignty. The Executive therefore delayed bringing the Charter before Congress, but in 1950 it decided that it would no longer seek to have the Charter adopted by Congress. This served as a signal to other countries not to pursue further any ratification proceedings. Much of the contents of the chapter on commercial policy survived as the GATT (General Agreement on Tariffs and Trade). This had been negotiated separately in 1947, and it entered provisionally into force on 1 January 1948. Later attempts in UNCTAD to negotiate rules on some of the chapters covered by the Charter have reinforced the complexity of the issues to negotiators. See also Protocol of Provisional Application.
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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