International Trade: Romanian Trade Data.
Abstract
The General Accounting Office report evaluates the impact of reinstating Romania's most-favored-nation" (MFN) trade status. In particular it includes data on (1) the leading U.S. imports from Romania from 1985 to 1991, (2) the impact of MFN status on tariff rates for leading U.S. imports from Romania, (3) leading U.S. exports to Romania from 1985 to 1991, and (4) the near-term economic and trade outlook for Romania. Romania benefited from U.S. MFN status from 1975 to 1988. But in 1988, the Ceausescu government renounced Romania's first status, anticipating that the United States would otherwise withdraw it due to concern over human rights violations. Although Romania underwent a major revolution in 1989, the United States has continued to withhold MFN trade status because of concern about the commitment of Romania's new regime to democratic principles, respect for human rights, and market reform. In response to Romania's recent progress in these areas, particularly the conduct of local elections in February 1992, the administration has begun steps toward restoration of MFN. In April 1992 the administration signed a new bilateral agreement with Romania which, if approved by Congress, would provide MFN on a reciprocal basis. The administration submitted the new agreement to Congress on June 22, 1992.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jul 01, 1992
- Accession Number
- ADA298888
Entities
Organizations
- United States Government Accountability Office