TeachMeFinance.com - explain Equivalence
Equivalence The term 'Equivalence ' as it applies to the area of agriculture can be defined as ' A term applied by the Uruguay Round Agreement on the Application of Sanitary and Phytosanitary (SPS) Measures. WTO Member countries shall accord acceptance to the SPS measures of other countries (even if those measures differ from their own or from those used by other Member countries trading in the same product) if the exporting country demonstrates to the importing country that its measures achieve the importerís appropriate level of sanitary and phytosanitary protection'.
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