Agreement On Government Procurement

Summary of Agreement On Government Procurement

A multilateral agreement, arising out of the Tokyo Round of trade discussions, which significantly opens government procurement bids to foreign suppliers. Signatory nations are obliged to publish openly invitations to bid, and to apply the same criteria in selecting contractors to national firms and to firms of other signatory states. The agreement applies to governmental purchases valued at 150,000 SPECIAL DRAWING RIGHTS (for more details visit the resource) or more, excepting contracts for most services, construction, national security procurements, purchases by political subdivisions, and procurements by agencies specifically exempted. U.S. participation in the agreement was authorized by the Trade Agreements Act of 1979. Detais can be found in General Agreement on Tariffs and Trade).

(Main Author: William J. Miller)

The Agreement on Government Procurement and the World Trade Organization

The Agreement on Government Procurement in relation to the World Trade Organization (WTO) covers several issues.