Common use of Exchange of Concessions Clause in Contracts

Exchange of Concessions. 1. The Parties to this Agreement shall mutually allocate concessions set forth in Annex IV in accordance with the provisions of this Section. 2. Taking into account the role of agriculture in their respective economies, the development of trade in agricultural products and the rules of their respective agricultural policies, the Parties shall examine in the Joint Committee the possibilities of granting further concessions to each other in trade in agricultural products. If a decision to improve the conditions of access is agreed, the Parties will evaluate the increase of the current quotas and the reduction or elimination of customs duties.