1932 agreement between Belgium, Luxembourg and the Netherlands
The Ouchy Convention was negotiated at Ouchy (Switzerland) in June 1932, but signed at Geneva on 18 July 1932 between the two BLEU countries (Belgium and Luxembourg) and the Netherlands. At the convention the three countries agreed to a gradual reduction of economic barriers and the creation of a customs union. The convention was based on the Oslo Agreements of 1930 and aimed in addition at the reduction of trade tariffs.
The three countries agreed that:
There should be no increases in existing trade tariffs or the application of new tariffs on imports from the participating countries.
The existing duties on imports from each country should be gradually reduced by 10 per cent each year until the total reduction would reach 50 per cent.
There should be no new barriers other than import duties on imports from each other
There should be open entry to the convention on the part of other countries and extension of its benefits to non-entering countries if they in fact carried out its terms.
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