Trade agreements concluded during 1957

The agreements and arrangements made by countries of Asia and the Far East to expand trade on a bilateral basis have assumed various forms, depending upon the purposes and interests sought to be promoted. Firstly, there are agreements intended primarily to facilitate mutual exchange of commodities between the contracting parties for a specified period, with or without specific provision for their extension. These trade agreements are often accompanied or followed by more detailed protocols. In any case, they usually provide for the exchange of specified commodities, with quantity or value ceilings frequently stipulated, and for methods of payment or settlement, including in some cases barter arrangements. Secondly, there may be included single-commodity arrangements, negotiated at times when selling countries have been concerned to secure export markets for their staple primary commodities, or to dispose of surpluses of such commodities, or when buying countries have been faced with the problem of shortages of food or raw materials and have tried to secure their requirements through bulk purchase at an advantageous price.

Sustainable Development Goals:

Decent Work and Economic Growth

Reduced Inequalities