Single undertaking definition
Single undertaking means, for the purposes of this Regulation, all enterprises having at least one of the following relationships with each other:
Single undertaking here means that each member was expected to take on all obligations, that the codes approach of the Tokyo Round, in which each member could opt to sign some codes and not sign others, was not available. John Croome, who served in the GATT/WTO Secretariat throughout the Tokyo and Uruguay Rounds, has pointed out in correspondence that “single undertaking” initially referred to the members voting on all parts of the agreement as a whole, i.e., that the outcome of the tariff negotiations would not be put up for approval separately from the outcome of the subsidies negotiations. As the negotiations progressed, the meaning of “single undertaking” expanded to include the “no country can opt out of any part” meaning.
Single undertaking concept, which essentially means that all the instruments that make up the complex body of WTO law are equally binding upon all members regardless of their stage of economic and social development,80 presented an optimal choice to commit most members to a set of common obligations and to conclude the WTO covered agreements at the time of the Uruguay Round negotiations. However world trade then looked very different from the emerging complex world trade today.81 Balancing the interests of 157 WTO members, across much more diverse issues, on the negotiation table has made it increasingly difficult to conclude negotiations that “bind all WTO Members equally”.82 Thus, many commentators are of the view that the probability of future success under the current single-undertaking system appears slight.83 On the other hand, although Regional Trade Agreements (RTAs) can enable deeper agreements to be reached between interested trading partners, they have the problem of gaps in the content as well as differences in coverage.84 Indeed, this “spaghetti bowl” has resulted in traders being subjected to multiple conflicting requirements all over the world.85 In addition, RTAs have potential difficulties in dealing with complex problems that require global compliance by means of multilateral solutions. In particular, regulatory issues under RTAs have been proven to be inefficient, if not impracticable, to implement.86
Examples of Single undertaking in a sentence
See United States Government/laws ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, 27, 37 ▇▇▇▇▇▇▇, former U.S. Ambassador ▇▇▇▇▇▇▇, 275 ▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇, 315 Simplified Stock Corporation, 341–343 Single undertaking approach, 18, 46, 73, 77, 133, 201 Singapore Market Liberalization, 322–323 U.S.-Singapore FTA, 112 Singapore Issues [Doha Round], 32, 42 “Single-window” system.
More Definitions of Single undertaking
Single undertaking approach, which means “nothing is agreed until everything is agreed,” prevented progress
Single undertaking means for the purposes of the EU rules on competition an undertaking is any entity engaged in an economic activity, regardless of its legal status and the way in which it is financed. Enterprises falling under the EU commission definition of ‘linked enterprises’ in the definition of small or medium-sized enterprises (SMEs) in Commission Recommendation 2003/361/EC are considered as one single undertaking for purposes of this aid.