Agreement On Trade In Pharmaceutical Products (Duty-Free Treatment)

September 10th, 2021  |  Published in Uncategorized

The parties to the Agreement on Trade in Civil Aircraft have agreed that they will provide, on a stand-alone basis, for duty-free treatment for these ground maintenance simulators, but not for their parts. This research note attempts to identify important trends in drug prices since the early 2000s, including average tariffs and the extent of individual tariff coverage of products. Finally, it calls for international measures to legally oblige governments to reduce tariffs on medicines and vaccines. The initial list of 7000 articles has been updated regularly. In the first update in 1996, tariffs on 496 other pharmaceutical items were eliminated; 642 elements of the second update in 1998 and 823 elements in the third update in 2006. In the fourth update of 2010, the U.S. International Trade Commission proposed an additional 735 products for duty-free processing. The medicines agreement now has 34 signatories (see Figure 9). Signed by a handful of countries representing 90% of the world`s pharmaceutical producers at that time, including the United States, the EU, Japan, Canada, Norway, Switzerland and Australia, the agreement initially represented about 7,000 articles. These included formulated or dosed medicines, medicines marketed in bulk, active pharmaceutical ingredients (APIs) and other chemical intermediates in finished products. The signatories agreed to expand the list in 1996, 1998, 2006 and 2010; It now has more than 10,000 products. Tariffs have been eliminated on a most-favoured-nation basis, meaning they have been extended to imports from all WTO members, not just contracting parties. .

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