Harmonization of standards refers to

Question

Quizplus · Accepted Answer

Harmonization of standards refers to the process of agreeing upon common product safety, environment, labor, and fair competition standards that are recognized and accepted by all trading partners. This helps to promote fair trade, reduce trade barriers, and ensure that products meet the same standards in different countries. It is different from the elimination of tariffs and quotas, which is covered under trade agreements such as free trade agreements, and from simply accepting or keeping a trading partner's standards, which may not necessarily be sufficient or applicable in other countries. The option D is incorrect as it talks about separate standards held by different trading partners which other partners refuse to recognize.

Harmonization of Standards Refers to