OECD shipbuilding agreement
OECD shipbuilding agreement: formal name Agreement Respecting Normal Competitive Conditions in the Commercial Shipbuilding and Repair Industry. It was concluded on 21 December 1994, but it is not yet in force. The Agreement seeks to eliminate the use of subsidies in the construction and repair of self-propelled seagoing vessels of more than 100 gross tons. It does not cover military vessels and fishing boats destined for own use by a party. Annex I contains a list of support measures that are inconsistent with the Agreement, including export credits or subsidies and, domestic support and some support measures for research and development. Parties to the Agreement also have access to a mechanism to deal with injurious pricing which is based on the anti-dumping measures available under the WTO agreements. There is also a dispute settlement mechanism. The Agreement is open for signature to countries outside the OECD.
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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