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Asia-Pacific Trade Agreement
ThAsia-Pacific Trade Agreement (APTA) previously known as thBangkok Agreementand renamed 2 November 2005, was signed in 1975. It is the oldest preferential trade agreement between countries in the Asia-Pacific region. The APTA covers market for 2921.2 million people which accounts for US$14615.86 billion in terms of gross domestic product (GDP) in the Fiscal Year (FY) 2015-2016APTA’s key objectiveis to hasten economic development among the seven participating states opting trade and investment liberalization measures that will contribute to intra-regional trade and economic strengthening through the coverage of merchandise goods and services, synchronized investment regime and free flow of technology transfer making all the Participating States to be in equally winsome situation. Its aim is to promote economic development and cooperation through the adoption of trade liberalization measures. APTA is open to all members of the United Nations Economic and Social Commission for As ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade Agreement
A trade agreement (also known as trade pact) is a wide-ranging taxes, tariff and trade treaty that often includes investment guarantees. It exists when two or more countries agree on terms that help them trade with each other. The most common trade agreements are of the preferential and free trade types, which are concluded in order to reduce (or eliminate) tariffs, quotas and other trade restrictions on items traded between the signatories. The logic of formal trade agreements is that they outline what is agreed upon and the punishments for deviation from the rules set in the agreement. Trade agreements therefore make misunderstandings less likely, and create confidence on both sides that cheating will be punished; this increases the likelihood of long-term cooperation. An international organization, such as the IMF, can further incentivize cooperation by monitoring compliance with agreements and reporting third countries of the violations. Monitoring by international agencie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rules Of Origin
Rules of origin are the rules to attribute a country of origin to a product in order to determine its "economic nationality". The need to establish rules of origin stems from the fact that the implementation of trade policy measures, such as tariffs, quotas, trade remedies, in various cases, depends on the country of origin of the product at hand. Rules of origin have become a challenging topic in international trade, not only because they constitute a highly technical area of rule-making, but also because their designation and application have not been harmonized across the world. The lack of harmony is even more remarkable in the era of regionalism, when more and more free trade agreements (FTAs) are concluded, creating the spaghetti bowl effect. Definition of rules of origin The most comprehensive definition for rules of origin is found in the International Convention on the Simplification and Harmonization of Customs procedures (Kyoto Convention), which entered into forc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Treaties Of Bangladesh
A treaty is a formal, legally binding written agreement between actors in international law. It is usually made by and between sovereign states, but can include international organizations, individuals, business entities, and other legal persons. A treaty may also be known as an international agreement, protocol, covenant, convention, pact, or exchange of letters, among other terms. However, only documents that are legally binding on the parties are considered treaties under international law. Treaties vary on the basis of obligations (the extent to which states are bound to the rules), precision (the extent to which the rules are unambiguous), and delegation (the extent to which third parties have authority to interpret, apply and make rules). Treaties are among the earliest manifestations of international relations, with the first known example being a border agreement between the Sumerian city-states of Lagash and Umma around 3100 BC. International agreements were used in so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Treaties Concluded In 1975
A treaty is a formal, legally binding written agreement between actors in international law. It is usually made by and between sovereign states, but can include international organizations, individuals, business entities, and other legal persons. A treaty may also be known as an international agreement, protocol, covenant, convention, pact, or exchange of letters, among other terms. However, only documents that are legally binding on the parties are considered treaties under international law. Treaties vary on the basis of obligations (the extent to which states are bound to the rules), precision (the extent to which the rules are unambiguous), and delegation (the extent to which third parties have authority to interpret, apply and make rules). Treaties are among the earliest manifestations of international relations, with the first known example being a border agreement between the Sumerian city-states of Lagash and Umma around 3100 BC. International agreements were used in so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade Blocs
A trade bloc is a type of intergovernmental agreement, often part of a regional intergovernmental organization, where barriers to trade (tariffs and others) are reduced or eliminated among the participating states. Trade blocs can be stand-alone agreements between several states (such as the North American Free Trade Agreement) or part of a regional organization (such as the European Union). Depending on the level of economic integration, trade blocs can be classified as preferential trading areas, free-trade areas, customs unions, common markets, or economic and monetary unions. Use Historic trading blocs include the Hanseatic League, a Northern European economic alliance between the 12th and 17th centuries, and the German Customs Union, formed on the basis of the German Confederation and subsequently the German Empire from 1871. Surges of trade bloc formation occurred in the 1960s and 1970s, as well as in the 1990s after the collapse of Communism. By 1997, more than 50% of a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free Trade Agreements
A free-trade agreement (FTA) or treaty is an agreement according to international law to form a free-trade area between the cooperating states. There are two types of trade agreements: bilateral and multilateral. Bilateral trade agreements occur when two countries agree to loosen trade restrictions between the two of them, generally to expand business opportunities. Multilateral trade agreements are agreements among three or more countries, and are the most difficult to negotiate and agree. FTAs, a form of trade pacts, determine the tariffs and duties that countries impose on imports and exports with the goal of reducing or eliminating trade barriers, thus encouraging international trade. Such agreements usually "center on a chapter providing for preferential tariff treatment", but they also often "include clauses on trade facilitation and rule-making in areas such as investment, intellectual property, government procurement, technical standards and sanitary and phytosanitary i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CISFTA
Commonwealth of Independent States Free Trade Area (CISFTA) is a free-trade area among Russia, Ukraine, Belarus, Uzbekistan, Moldova, Armenia, Kyrgyzstan, Kazakhstan and Tajikistan. Five CISFTA participants, all except Ukraine, Uzbekistan, Moldova and Tajikistan, are members of the Eurasian Economic Union, comprising a single economic market, although Uzbekistan and Moldova are observers. History The Commonwealth of Independent States Free Trade Zone Agreement, proposed since the breakup of the Soviet Union in 1991, was signed on 18 October 2011 by Russia, Ukraine, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, Moldova and Armenia. The agreement replaces existing bilateral and multilateral free trade agreements among the countries. Initially, the treaty was only ratified by Russia, Belarus, and Ukraine, however by the end of 2012, Kazakhstan, Armenia, and Moldova had also completed ratification. In December 2013, Uzbekistan signed and then ratified the treaty, while the remainin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
BIMSTEC
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is an international organisation of seven South Asian and Southeast Asian nations, housing 1.73 billion people and having a combined gross domestic product of US$4.4 trillion (2022). The BIMSTEC member states – Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand – are among the countries dependent on the Bay of Bengal. Fourteen priority sectors of cooperation have been identified and several BIMSTEC centres have been established to focus on those sectors. A BIMSTEC free trade agreement is under negotiation (c. 2018), also referred Similar to SAARC. Leadership is rotated in alphabetical order of country names. The permanent secretariat is in Dhaka, Bangladesh. Background On 6 June 1997, a new sub-regional grouping was formed in Bangkok under the name BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation). Following the inclusion of Myanmar on 22 D ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PICTA
The Pacific Islands Forum (PIF) is an inter-governmental organization that aims to enhance cooperation between countries and territories of Oceania, including formation of a trade bloc and regional peacekeeping operations. It was founded in 1971 as the South Pacific Forum (SPF), and changed its name in 1999 to "Pacific Islands Forum", so as to be more inclusive of the Forum's Oceania-spanning membership of both north and south Pacific island countries, including Australia. It is a United Nations General Assembly observer. The mission of the Pacific Islands Forum is "to work in support of Forum member governments, to enhance the economic and social well-being of the people of the South Pacific by fostering cooperation between governments and between international agencies, and by representing the interests of Forum members in ways agreed by the Forum". Its decisions are implemented by the ''Pacific Islands Forum Secretariat'' (PIFS), which grew out of the ''South Pacific Bureau ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South Asian Free Trade Area
The South Asian Free Trade Area (SAFTA) is a 2004 agreement that created a free-trade area of 1.6 billion people in Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka with the vision of increasing economic cooperation and integration. One of the major goals was to reduce customs duties of all traded goods to zero by 2016. SAFTA required the developing countries in South Asia (India, Pakistan and Sri Lanka) to bring their duties down to 20 percent in the first phase of the two-year period ending in 2007. In the final five-year phase ending in 2012, the 20-percent duty was reduced to zero in a series of annual cuts. The least developed countries in the region had an additional three years to reduce tariffs to zero. India and Pakistan ratified the treaty in 2009, whereas Afghanistan, as the eighth member state of the SAARC, ratified the SAFTA protocol on 4 May 2011. History SAPTA The establishment of an Inter-Governmental Group (IGG) to formulat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South Pacific Regional Trade And Economic Cooperation Agreement
The South Pacific Regional Trade and Economic Co-operation Agreement (SPARTECA) is a nonreciprocal trade agreement in which Australia and New Zealand offer duty-free and unrestricted access for specified products originating from the developing island member countries of the Pacific Islands Forum. The agreement was signed in 1980 in Tarawa, Kiribati, and subject to Rules of Origin regulations, designed to address the unequal trade relationships between the two groups. The textiles, clothing and footwear (TCF) industry has been a major beneficiary of SPARTECA through the preferential access to Australian and New Zealand markets. The agreement entered into force on 1 January 1981. TCF in Fiji The local Fiji textiles, clothing and footwear (TCF) industry has grown over the last 10 years and is now one of the major industries in Fiji. In 1997 the TCF industry accounted for 26% of Fiji’s total domestic exports; it contributed to some 3.5% of GDP and provided employment for about 18, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ASEAN Free Trade Area
The ASEAN Free Trade Area (AFTA) is a trade bloc agreement by the Association of Southeast Asian Nations supporting local trade and manufacturing in all ASEAN countries, and facilitating economic integration with regional and international allies. It stands as one of the largest and most important free trade areas (FTA) in the world, and together with its network of dialogue partners, drove some of the world's largest multilateral forums and blocs, including Asia-Pacific Economic Cooperation, East Asia Summit and Regional Comprehensive Economic Partnership. The AFTA agreement was signed on 28 January 1992 in Singapore. When the AFTA agreement was originally signed, ASEAN had six members, namely, Brunei, Indonesia, Malaysia, Philippines, Singapore and Thailand. Vietnam joined in 1995, Laos and Myanmar in 1997 and Cambodia in 1999. AFTA now comprises the ten countries of ASEAN. All the four latecomers were required to sign the AFTA agreement to join ASEAN, but were given longer t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
