GATT Article 11 countries

...First, in the latter half of the 1950s, Western European countries one after another restored the convertibility of their currencies and abolished direct controls such as import permits and quotas. Japan also made progress in trade liberalization from 1960 onwards, becoming a GATT Article XI country in 1963, and the following year, deciding to join the OECD and transition to an IMF Article 8 country, which in principle allows free foreign exchange transactions. Trade liberalization in the 1960s progressed mainly through the reduction of tariffs, and the Kennedy Round of comprehensive tariff reduction negotiations, which began in 1963 and concluded in 1967, was the most ambitious of the multilateral trade negotiations up to that point, and achieved the groundbreaking result of reducing tariffs on industrial products by an average of 33%.

*Some of the terminology used to refer to "GATT Article 11 countries" is listed below.

Source | Heibonsha World Encyclopedia 2nd Edition | Information

…まず1950年代の後半には，西欧諸国で相ついで通貨の交換性回復と輸入許可制や輸入割当制といった直接統制の撤廃が行われた。これよりやや遅れて，日本でも60年以降に貿易自由化が進められ，63年にはGATT11条国となり，翌64年にはOECDへの加盟と原則的に為替取引を自由に行うIMF8条国への移行を決めた。60年代の貿易自由化は関税の引下げを中心に進展したが，なかでも63年に始まり67年に妥結したケネディ･ラウンド関税一括引下げ交渉は，それまでの多角的貿易交渉のうち最も大がかりなもので，鉱工業製品の関税率は平均33％引き下げられるという画期的な成果をあげた。…

※「GATT11条国」について言及している用語解説の一部を掲載しています。

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