|
Customs Union
A customs union is generally defined as a type of trade bloc which is composed of a free trade area with a common external tariff.GATTArticle 24 s. 8 (a) Customs unions are established through trade pacts where the participant countries set up common external trade policy (in some cases they use different import quotas). Common competition policy is also helpful to avoid ''competition deficiency''. Reasons for establishing a customs union normally include increasing economic efficiency and establishing closer political and cultural ties between the member countries. It is the third stage of economic integration. Every economic union, customs and monetary union and economic and monetary union includes a customs union. WTO definition The General Agreement on Tariffs and Trade, part of the World Trade Organization framework defines a customs union in the following way: Historical background The German Customs Union, the Zollverein, which was established in 1834, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Economic Community Customs Union
The European Union Customs Union (EUCU), formally known as the Community Customs Union, is a customs union which consists of all the member states of the European Union (EU), Monaco, and the British Overseas Territory of Akrotiri and Dhekelia. Some detached territories of EU states do not participate in the customs union, usually as a result of their geographic separation. In addition to the EUCU, the EU is in customs unions with Andorra, San Marino and Turkey (with the exceptions of certain goods), through separate bilateral agreements.Customs unions, Taxation and Customs Union , European Commission. Retrieved 20 August 2016. There are no |
European Economic Community
The European Economic Community (EEC) was a regional organisation created by the Treaty of Rome of 1957,Today the largely rewritten treaty continues in force as the ''Treaty on the functioning of the European Union'', as renamed by the Lisbon Treaty. aiming to foster economic integration among its member states. It was subsequently renamed the European Community (EC) upon becoming integrated into the Three pillars of the European Union, first pillar of the newly formed European Union (EU) in 1993. In the popular language, the singular ''European Community'' was sometimes inaccurately used in the wider sense of the plural ''European Communities'', in spite of the latter designation covering all the three constituent entities of the first pillar. The EEC was also known as the European Common Market (ECM) in the English-speaking countries, and sometimes referred to as the European Community even before it was officially renamed as such in 1993. In 2009, the EC formally ceased to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Community Of Central African States
The Economic Community of Central African States (ECCAS; , CEEAC; , CEEAC; , CEEAC) is an Economic Community of the African Union for promotion of regional economic co-operation in Central Africa. It "aims to achieve collective autonomy, raise the standard of living of its populations and maintain economic stability through harmonious cooperation". History Foundation At a summit meeting in December 1981, the leaders of the Customs and Economic Union of Central Africa (French acronym UDEAC) agreed in principle to form a wider economic community of Central African states. ECCAS was established on 18 October 1983 by the UDEAC members, São Tomé and Príncipe and the members of the Economic Community of the Great Lakes States (CEPGL established in 1976 by the DR Congo, Burundi and Rwanda). Angola remained an observer until 1999, when it became a full member. ECCAS began functioning in 1985, but was inactive for several years because of financial difficulties (non-payment of mem ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central American Common Market
The Central American Integration System (, or SICA) has been the economic and political organization of Central American states since 1 February 1993. On 13 December 1991, the ODECA countries (Spanish: ''Organización de Estados Centroamericanos'') signed the Protocol of Tegucigalpa, extending earlier cooperation for regional peace, political freedom, democracy and economic development. SICA's General Secretariat is in El Salvador. In 1991, SICA's institutional framework included Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica and Panama. Belize joined in 1998 as a full member, while the Dominican Republic became an associated state in 2004 and a full member in 2013. Mexico, Chile and Brazil became part of the organization as regional observers, and the Republic of China, Spain, Germany, Georgia and Japan became extra-regional observers. SICA has a standing invitation to participate as observers in sessions of the United Nations General Assembly, and maintains offices at ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Caribbean Community
The Caribbean Community (abbreviated as CARICOM or CC) is an intergovernmental organisation that is a Political association, political and economic union of 15 member states (14 nation-states and one dependency) and five associated members throughout the Americas, the Caribbean and Atlantic Ocean. It has the primary objective to promote economic integration and cooperation among its members, ensure that the benefits of integration are equitably shared, and coordinate foreign policy. The organisation was established in 1973, by its four founding members signing the Treaty of Chaguaramas. The secretariat headquarters is in Georgetown, Guyana. CARICOM has been granted the official United Nations General Assembly observers, United Nations General Assembly observer status. History CARICOM, originally The Caribbean Community and Common Market, was established by the Treaty of Chaguaramas which took effect on 1 August 1973. Founding states were Barbados, Jamaica, Guyana and Trinidad ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Andean Community
The Andean Community (, CAN) is a free trade area with the objective of creating a customs union comprising the South American countries (Andean states) of Bolivia, Colombia, Ecuador, and Peru. The trade bloc was called the Andean Pact until 1996 and came into existence when the Cartagena Agreement was signed in 1969. Its headquarters are in Lima, Peru. The Andean Community has 113 million inhabitants over an area of approximately 3,800,000 km2. Its GDP has gone up to US$745.300 billion in 2005, including Venezuela, which was a member at the time. Its estimated PPP of GDP for 2011 amounts to US$902.86 billion, excluding Venezuela. History The original Andean Pact was founded in 1969 by Bolivia, Chile, Colombia, Ecuador, and Peru. In 1973 the pact gained its sixth member, Venezuela. In 1976 however, its membership was again reduced to five when Chile withdrew. Venezuela announced its withdrawal in 2006, reducing the Andean Community to four member states. Recently, wit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Customs Unions
The world is the totality of entities, the whole of reality, or everything that Existence, exists. The nature of the world has been conceptualized differently in different fields. Some conceptions see the world as unique, while others talk of a "plurality of worlds". Some treat the world as #Monism and pluralism, one simple object, while others analyze the world as a complex made up of parts. In #Scientific cosmology, scientific cosmology, the world or universe is commonly defined as "the totality of all space and time; all that is, has been, and will be". #Theories of modality, Theories of modality talk of possible worlds as complete and consistent ways how things could have been. #Phenomenology, Phenomenology, starting from the horizon of co-given objects present in the periphery of every experience, defines the world as the biggest horizon, or the "horizon of all horizons". In #Philosophy of mind, philosophy of mind, the world is contrasted with the mind as that which is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign Direct Investment
A foreign direct investment (FDI) is an ownership stake in a company, made by a foreign investor, company, or government from another country. More specifically, it describes a controlling ownership an asset in one country by an entity based in another country. The magnitude and extent of control, therefore, distinguishes it from a foreign portfolio investment or foreign indirect investment. Foreign direct investment includes expanding operations or purchasing a company in the target country. Definitions Broadly, foreign direct investment includes mergers and acquisitions, building new facilities, reinvesting profits earned from overseas operations, and intra company loans. In a narrow sense, foreign direct investment refers just to building new facility, and a lasting management interest (10 percent or more of voting stock) in an enterprise operating in an economy other than that of the investor. FDI is the sum of equity capital, long-term capital, and short-term capital as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Production Costs
Cost of goods sold (COGS) (also cost of products sold (COPS), or cost of sales) is the carrying value of goods sold during a particular period. Costs are associated with particular goods using one of the several formulas, including specific identification, first-in first-out (FIFO), or average cost. Costs include all costs of purchase, costs of conversion and other costs that are incurred in bringing the inventories to their present location and condition. Costs of goods made by the businesses include material, labor, and allocated overhead. The costs of those goods which are not yet sold are deferred as costs of inventory until the inventory is sold or written down in value. Overview Many businesses sell goods that they have bought or produced. When the goods are bought or produced, the costs associated with such goods are capitalized as part of inventory (or stock) of goods. These costs are treated as an expense in the period the business recognizes income from sale of the goods ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economies Of Scale
In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation, and are typically measured by the amount of Productivity, output produced per unit of cost (production cost). A decrease in unit cost, cost per unit of output enables an increase in scale that is, increased production with lowered cost. At the basis of economies of scale, there may be technical, statistical, organizational or related factors to the degree of Market (economics), market control. Economies of scale arise in a variety of organizational and business situations and at various levels, such as a production, plant or an entire enterprise. When average costs start falling as output increases, then economies of scale occur. Some economies of scale, such as capital cost of manufacturing facilities and friction loss of transportation and industrial equipment, have a physical or engineering basis. The economic concept dates back to Adam Smith and the idea o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resource Allocation
In economics, resource allocation is the assignment of available resources to various uses. In the context of an entire economy, resources can be allocated by various means, such as markets, or planning. In project management, resource allocation or resource management is the scheduling of activities and the resources required by those activities while taking into consideration both the resource availability and the project time. Economics In economics, the field of public finance deals with three broad areas: macroeconomic stabilization, the distribution of income and wealth, and the allocation of resources. Much of the study of the allocation of resources is devoted to finding the conditions under which particular mechanisms of resource allocation lead to Pareto efficient outcomes, in which no party's situation can be improved without hurting that of another party. Strategic planning In strategic planning, resource allocation is a plan for using available resources, fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Import Quota
An import quota is a type of trade restriction that sets a physical limit on the quantity of a good that can be imported into a country in a given period of time. An import embargo or import ban is essentially a zero-level import quota. Quotas, like other trade restrictions, are typically used to benefit the producers of a good in that economy (protectionism). Enforcement Import quotas are usually implemented by awarding licenses to companies or individuals according to a specific catalogue of criteria, either free of charge, for a fee, or in the form of an auction. Importers without licences are not allowed to import at all, or in certain cases, can import only for a very high tariff premium.See In the case of a quantity quota, imports are restricted directly for importers based on the imports of the previous year, for example by setting weights, quantities and dimensions, etc. Quota share The quota share is a specified number or percentage of the allotment as a whole quota, th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
