Normal Track definition

Normal Track means a list of tariff lines of which applied MFN tariff rates shall be gradually reduced and eliminated in accordance with the modality set out in Annex 1 of the Agreement on Trade in Goods under this Framework Agreement; Parties means the ASEAN Member Countries and Korea collectively; Party means an ASEAN Member Country or Korea; WTO means the World Trade Organisation; and WTO Agreement means the Marrakesh Agreement Establishing the World Trade Organisation, done on 15 April 1994 and the other agreements negotiated thereunder.
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Examples of Normal Track in a sentence

  • The Parties shall progressively reduce and eliminate duties and other restrictive regulations of commerce (except, where necessary, those permitted under Article XXIV(8)(b) of GATT 1994) on substantially all trade in goods among the Parties, in accordance with the provisions, schedules and programme for the Normal Track in the Agreement on Trade in Goods under this Framework Agreement.

  • Tariff lines placed in the Normal Track by each Party on its own accord shall have their respective applied MFN tariff rates gradually reduced and eliminated in accordance with the modalities set out in Annex 1 of this Agreement with the objective of achieving the targets prescribed in the thresholds therein.

  • The products which are subject to the tariff reduction or elimination program under this Article shall include all products not covered by the Early Harvest Scheme under Article 7 of this Agreement, and such products shall be categorised into two tracks, namely, the Normal Track and the Sensitive Track.

  • Annex 1: Modalities for Tariff Reduction and Elimination for Tariff Lines Placed in the Normal Track.

  • The remaining 4,000 items fall into one of the following categories: the Normal Track (divided into two sub-tracks), the Sensitive Track, Special Products, and Highly Sensitive List.

  • Each Party shall reduce to 0-5% by 2009 for Viet Nam; 2010 for Lao PDR and Myanmar; and 2012 for Cambodia the tariff rates for at least 50% of its tariff lines placed in the Normal Track.

  • By 2017 and 2020 products under the Viet Nam and CLM’s Normal Track, respectively would have full market access that is zero tariff.

  • The tariff lines that are subject to the tariff reduction or elimination programme under this Agreement are all the tariff lines covered under the Normal Track, as specified in Article 3(2)(a) of the Agreement on Trade in Goods of the Framework Agreement on Comprehensive Economic Co-operation between the Association of Southeast Asian Nations and the People’s Republic of China done on 29 November 2004.

  • Normal Track - Applied MFN tariff rates will be reduced and subsequently eliminated in accordance with the following schedule : (i) Normal Track 1- 70% of the total tariff lines of which tariff rates will be reduced/ eliminated by 2014.

  • Tariffs imposed between the Philippines and India under the Normal Track will only be eliminated by 2019.