International Sugar Agreement
International Sugar Agreement Outline
The International Sugar Agreement is a series of international agreements operating continuously or intermittently since 1903 to regulate the part of international sugar markets which is not subject to specified and regional sugar agreements (for example, the Commonwealth Sugar Arrangement and EU arrangements). The first International Sugar Agreement was made in Brussels in 1902. It became effective in 1903. The agreement prohibited export and production subsidies. The members also undertook not to import subsidized sugar from non-members. This agreement expired in 1918. The Chadbourne Plan which regulated sugar production and export for the purpose of eliminating surpluses of sugar was made in 1931 and expired in 1935. In 1937 an International Sugar Agreement was concluded. This agreement was terminated in 1940 as a result of the Second World War. After the war, an agreement came into force in 1953 and expired in 1958. The 1958 agreement operated from 1959 to 1968. It was followed by the 1968 agreement, which existed from 1969 to 1973. The 1974 agreement operated between 1974 and 1976, and was replaced by the 1977 agreement which operated between 1978 and 1984. The 1984 agreement entered into force in 1985 and operated on an annual basis. It was replaced by the 1987 agreement. The current agreement was made in 1992 and entered into force in 1993.The International Sugar Organization (ISO) was set up under the 1968 agreement. It is the body administering the sugar agreement, and functions mainly as a coordinator and data-gathering agency. There are about 43 members of the ISO. The ISO is based in London.(1)