And until the work of Kee, Nicita and Olarreaga, ad valorem equivalent estimates had never been computed in such a systematic and extensive way.

The ad valorem equivalents emerged as key, as they determine the level of the base rate to which tiered formula cuts will be applied for those products subject to non ad valorem duties.

Technical issues on the market access pillar included the so called gateway issues of converting volume based import duties, non ad valorem tariffs, into value based, ad valorem equivalents, as expressed as the percentage of unit value.

Kee H.L., A. Nicita and M. Olarreaga, Ad Valorem Equivalents of Non Tariff Barriers , unpublished manuscript, World Bank, 2004.

Discussion of the formula for tariff cuts was delayed pending the resolution of the methodology for calculating ad valorem equivalents.

Thus, they should allow easy retrieval of so called ad valorem equivalents (AVEs), also called implicit tariffs or implicit rates of protection.

Other key issues include the treatment of unbound tariffs, ad valorem equivalents, flexibilities for developing countries, participation in sectoral negotiations and trade preferences.

The introduction of an NTB that does not take a price ad valorem form makes the import demand curve shift in a non parallel way.

Other issues relate to the treatment of rates on unbound tariff lines, the extent of the binding coverage, the methodology to be used to the establish the base rate, or final bound rate, and the conversion of specific rates to ad valorem or percentage format.

Exact equivalent.

Preliminary estimates (table 1) show that 25,234 tonnes CO2 equivalent were emitted by the tenth session of the Conference of the Parties (equivalent to about 4.1 tonnes CO2 equivalent participant).

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A tax on carbon should be equivalent to its damage.

The US imports the equivalent of 16 of its GDP.