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Balance of Concessions

An agreement in which one country reduces tariffs on its imports from another country in exchange for an equivalent, or at least similar, reduction from the second country. The balance of concessions is intended to stimulate international commerce between the two countries. It is also called reciprocity or simply a concession.


A mutual agreement to accept another's judgment on a matter.Some states offer reciprocity of real estate licensing,so that an agent or broker licensed in one state may become licensed in another without meeting the minimum education,testing,or apprenticeship requirements.

References in periodicals archive ?
Their main argument for this was based on the expiry of the WTO waiver for the Lome non-reciprocal preferences, which were incompatible with its trade rules.
According to the EU, granting non-reciprocal preferential trade concessions to fellow European countries that are richer than most African countries does not violate WTO rules, but doing so for Africa does.
There are many reasons to impose non-reciprocal MTR in forthcoming years, especially in countries with few MNOs or markets with small and innovative MNOs.
The same shipment, by air freight to one of the non-reciprocal states, would cost about $35.
The most significant aspect of our discovery is the observation that BSIT is a non-reciprocal phenomenon--the transparency is only generated one way.
The GSP is an autonomous trade arrangement wherein the EU grants non-reciprocal trade preferences to exports of 176 GSP beneficiary countries, including the Philippines.
Congress devised the framework that has led to this non-reciprocal visa waiver arrangement.
They contend that EU, while finalising this package, did consider Pakistan's preference for product lines, but since it is unilateral and non-reciprocal, the mechanism of formal negotiations was not used by EU in finalising the package.
17 (ANI): India is committed to fulfilling its responsibilities in SAARC in an asymmetric and non-reciprocal manner for the benefit of the countries in the region, said External Affairs Minister S.
And when it comes to a revenue push, non-reciprocal fees are getting dropped very quickly to make the deal, said Rich Leary, vice president and national sales manager of RMI Direct Marketing, in Danbury, Conn.
This was followed in 1975 by the Lome Treaties, giving easy, often free non-reciprocal access for the mostly African former colonies to the European Community (EC).
The third opportunity is to enter a non-reciprocal but preferential trade agreement, such as the EU member states have with their former colonies (the African, Caribbean and Pacific countries), and as OECD countries have with most developing countries.

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