World Trade Organisations
...t European level. This pooling of sovereignty is also called "European integration". The European Union has delivered half a century of stability, peace and prosperity. It has helped to raise living standards, built a single Europe-wide market, launched the single European currency, the euro, and strengthened Europe's voice in the world. Unity in diversity: Europe is a continent with many different traditions and languages, but also with shared values. The EU defends these values. It fosters co-operation among the peoples of Europe, promoting unity while preserving diversity and ensuring that decisions are taken as close as possible to the citizens. In the increasingly interdependent world of the 21st century, it will be even more necessary for every European citizen to co-operate with people from other countries in a spirit of curiosity, tolerance and solidarity. IMPORTANCE: The historical roots of the European Union lie in the Second World War. The idea of European integration was conceived to prevent such killing and destruction from ever happening again. It was first proposed by the French Foreign Minister Robert Schuman in a speech on 9 May 1950. This date, the "birthday" of what is now the EU, is celebrated annually as Europe Day. MEMBERS: Austria, Belgium, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, The Netherlands, United Kingdom. NORTH AMERICAN FREE TRADE AGREEMENT – (NAFTA): HISTORY: The North American Free Trade Agreement was launched in January 1st 1994 with the goal of fostering greater economic growth in Canada, the United States, and Mexico, by removing barriers to trade and investment among the three nations as well as forming the world's largest free trade area NAFTA was a radical experiment - never before had a merger of three nations with such radically different levels of development been attempted. NAFTA only dealt with cutting tariffs and lifting quotas to set the terms of trade in goods between countries. MEMBERS/ NATIONS: United States of America, Mexico and Canada AIM: · To strengthen bonds of friendship and cooperation · As a catylyst to international cooperation · To create, expand, and secure future markets · To establish fair rules of trade · To ensure a predictable framework for buisness planning · To enhance firms competitiveness in foreign markets · To foster creativity and innovation · To create new employment opportunities · To promote development · To strengthen environmental regulations · To raise living standards in the U.S. Mexico and Canada · To immprove environmental conditions and transform Mexico from a poor developing country into a booming new market for U.S. exports. IMPORTANCE INFLUENCE: NAFTA contained 900 pages of one-size-fits-all rules to which each nation was required to conform for example; NAFTA required limits on the safety and inspection of meat sold in grocery stores. Under NAFTA, all non-tariff barriers to agricultural trade between the United States and Mexico were eliminated. In addition, many tariffs were eliminated immediately, with others being phased out over periods of 5 to 15 years. All agricultural provisions will be implemented by the year 2008. For import-sensitive industries, long transition periods and special safeguards will allow for an orderly adjustment to free trade with Mexico. The agricultural provisions of the U.S.-Canada Free Trade Agreement (CFTA), in effect since 1989, were incorporated into the NAFTA. Under these provisions, all tariffs affecting agricultural trade between the United States and Canada, with a few exceptions for items covered by tariff-rate quotas (TRQ's), were removed before Jan. 1, 1998. Mexico and Canada reached a separate bilateral NAFTA agreement on market access for agricultural products. The Mexican-Canadian agreement eliminated most tariffs either immediately or over 5, 10, or 15 years. Tariffs between the two countries affecting trade in dairy, poultry, eggs, and sugar are maintained. CURRENT AGREEMENTS: NAFTA is now expanding and locking in 31 more countries in Latin America and the Caribbean through the proposed Free Trade Areas of the Americas (FTAA) and the five Central American countries thorough the Central American Free Trade Agreement. ASIA-PACIFIC ECONOMIC COOPERATION – (APEC): FUNCTIONS: Asia-Pacific Economic Cooperation, or APEC, is the premier forum for facilitating economic growth, cooperation, trade and investment in the Asia-Pacific region. APEC is the only inter governmental grouping in the world operating on the basis of non-binding commitments, open dialogue and equal respect for the views of all participants. Unlike the WTO or other multilateral trade bodies, APEC has no treaty obligations required of its participants. Decisions made within APEC are reached by consensus and commitments are undertaken on a voluntary basis. IMPORTANCE: APEC was established in 1989 to further enhance economic growth and prosperity for the region and to strengthen the Asia-Pacific community. Since its inception, APEC has worked to reduce tariffs and other trade barriers across the Asia-Pacific region, creating efficient domestic economies and dramatically increasing exports. Free and open trade and investment helps economies to grow, creates jobs and provides greater opportunities for international trade and investment. In contrast, protectionism keeps prices high and fosters inefficiencies in certain industries. Free and open trade helps to lower the costs of production and thus reduces the prices of goods and services - a direct benefit to all. INFLUENCE: APEC also works to create an environment for the safe and efficient movement of goods, services and people across borders in the region through policy alignment and economic and technical cooperation. APEC and the WTO are complimentary in that both are working towards the same goals of free and open trade and investment across borders. APEC is the only inter governmental grouping in the world operating on the basis of non-binding commitments, open dialogue and equal respect for the views of all participants. Unlike the WTO or other multilateral trade bodies, APEC has no treaty obligations required of its participants. Decisions made within APEC are reached by consensus and commitments are undertaken on a voluntary basis. MEMBERS: APEC's 21 Member Economies are Australia; Brunei Darussalam; Canada; Chile; People's Republic of China; Hong Kong, China; Indonesia; Japan; Republic of Korea; Malaysia; Mexico; New Zealand; Papua New Guinea; Peru; The Republic of the Philippines; The Russian Federation; Singapore; Chinese Taipei; Thailand; United States of America; Viet Nam. 2004 PRIORITIES: APEC Economic Leaders outlined the following priorities for 2004 during their meeting in Bangkok, Thailand - 1. Promoting Trade and Investment Liberalisation 2. Enhancing Human Security 3. Using APEC to Help People and Societies Benefit from Globalisation THE WORLD BANK GROUP- (WB): Role · one of the United Nations’ specialized agencies with184 member countries [jointly responsible for how the institution is financed and how its money is spent] · fight poverty and improve the living standards of people in the developing world. · provides loans, policy advice, technical assistance and knowledge sharing services to low and middle income countries to reduce poverty · supports efforts of developing country governments to build schools and health centers, provide water and electricity, fight disease, and protect the environment. · transfer rich country’s resources into poor country growth · focuses its efforts on the reaching the Millennium Development Goals, agreed to by UN members in 2000 and aimed at sustainable poverty reduction · has goals to eradicate extreme poverty and hunger, achieve universal primary education, promote gender equality and empower women, reduce child mortality, combat HIV/AIDS, malaria, and other diseases ensure environmental sustainability and develop a global partnership for development · use its knowledge and financial resources to build a climate for investment, jobs and sustainable growth, and investing in and empowering poor people to participate in development · original purpose of the World Bank was to help rebuild countries devastated from war by providing loans, but its role has expanded over time to include helping any developing country · The World Bank's strategy in the transition countries was to promote macroeconomic stability and sound economic management; reorient and strengthen public sector institutions; build the basic institutions of a market economy and an enabling environment for private sector initiatives; and cushion the social cost of the transition. N.B à The "World Bank" is name come to be used for International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). Together these organizations provide low-interest loans, interest-free credit, and grants to developing countries. World Bank started out with 28 member countries, and as of January 2004, the World Bank had 184 member countries Importance The world’s low-income countries generally cannot borrow money in international markets or can only do so at high interest rates. In addition to direct contributions and loans from developed countries, these countries receive grants, interest-free loans, and technical assistance from the World Bank to enable them to provide basic services. In the case of the loans, countries have 35-40 years to repay, with a 10-year grace period. Interest-free credit ...