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GENERAL AGREEMENT ON TARIFFS AND TRADE The Governments of the Commonwealth of Australia, the Kingdom of Belgium, the United States of Brazil, Burma, Canada, Ceylon, the Republic of Chile, the Republic of China, the Republic of Cuba, the Czechoslovak Republic, the French Republic, India, Lebanon, the Grand Duchy of Luxemburg, the Kingdom of the Netherlands, New Zealand, the Kingdom of Norway, Pakistan, Southern Rhodesia, Syria, the Union of South Africa, the United Kingdom of Great Britain and Northern Ireland, and the United States of America ': Recognizing that their relations'in the field of trade and economic endeavour should be conducted with a View to raising : standards of living, ensuring full employment and" a large and steadily growing "volume of real income and effective demand, developing the full use of the resources of the world and expanding the production arid exchange of goods ; : 2 Being desirous of contributing to these objectives by entering into reciprocal and mutually advantageous arrangements directed to the substantial reduction of tariffs and other barriers to trade and to the elimination of discriminatory treatment in international commerce ; Have through their representatives agreed as follows : PART I Article T General Most-favoured-nation Treatment 1. With respect to Customs duties and charges of any kind imposed on or in connection with importation or exportation or imposed on the international transfer of payments for imports or exports, and with respect to the method of levying such duties and charges, and with respect to all rules and formalities in connection with importation and exportation, and with respect to all matters referred to in paragraphs 1 and 2 of Article 111, any advantage, favour, privilege, or immunity granted by any contracting party to any product originating in or destined for any other country shalL be accorded immediately and unconditionally to the.like product originating:in or destined for the territories of all other contracting parties. 2. The provisions of paragraph l.of this Article shall not require the elimination of any preferences in respect, of import duties or charges which do not exceed the levels provided for in-paragraph 3 of this. Article and which fall within the following descriptions:— • ••. ■ • • • ■ ~ : («) Preferences in force exclusively between two or more of the territories listed in Annex A; subject to the conditions set forth therein : * '-i