Common use of Exchange of Concessions Clause in Contracts

Exchange of Concessions. 1. The Parties to this Agreement declare their readiness to xxxxxx, in so far as their agricultural policies allow, the harmonious development of trade in agricultural products and to discuss this issue periodically in the Joint Committee. 2. In pursuance of this objective Protocol II providing the reciprocal concessions granted under this Agreement to facilitate trade in agricultural products has been concluded between the Parties. 3. Taking into account the role of agriculture in their respective economies; the development of trade in agricultural products between the Parties; the rules of their respective agricultural policies, the Parties shall progressively establish a greater liberalization of their trade in agricultural products of interest to both Parties. 4. During the annual meeting of the Joint Committee the Parties shall examine the situation in order to implement the objective set out in the paragraph 3, taking into consideration the development of the liberalization of trade in agricultural products under the WTO. 5. The Parties shall notify to the Joint Committee of the changes in their respective agricultural policies pursued or measures applied, which may affect the conditions of agricultural trade between the Parties as provided for in this Agreement. On the request of a Party prompt consultations within the Joint Committee shall be held to examine the situation.