POTENTIAL EROSION OF TRADE PREFERENCES IN AGRICULTURAL PRODUCTS

This paper assesses the potential impact of the Uruguay Round on agric ultural trade preferences. The potential value of such preferences giv en by the European Union, Japan and the United States is estimated at US$1.9 billion in 1992, one-third going to Africa, 40 per cent to Lati n America and the Caribbean, and the rest mainly to developing countri es of the Far East and Oceania. After the Uruguay Round reduction in M ost-Favoured-Nation (MFN) rates, the potential value of preferences is estimated to fall by around US$0.7 billion, of which Africa, Latin Am erica and the Caribbean, and the Far East account for 26 per cent, 39 per cent, and 28 per cent, respectively. On a commodity basis, the big gest losses are estimated for fruit and nuts, coffee and tea. Copyrigh t (C) 1996 Elsevier Science Ltd