Examlex
A system conversion method in which on a chose date the old system operation is terminated and all processing begins on the new system.
Most-Favored-Nation Status
A trade status granting a nation the best trading terms available to any other nation, such as lowest tariffs or highest import quotas.
Negotiated Tariff Rates
Tariff rates determined through bargaining between countries, rather than set unilaterally, often resulting in lower duties.
Free-Trade Zone
A designated area where goods can be imported, stored, handled, manufactured, or reconfigured without being subject to import duties.
GATT
The General Agreement on Tariffs and Trade (GATT) was a multilateral agreement aimed at reducing global trade barriers and promoting international trade through the reduction of tariffs and other trade restrictions.
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