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Trade Pact
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 specify 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Types Of Trading Arrangements By Intensity Of Economic Integration
Type may refer to: Science and technology Computing * Typing, producing text via a keyboard, typewriter, etc. * Data type, collection of values used for computations. * File type * TYPE (DOS command), a command to display contents of a file. * Type (Unix), a command in POSIX shells that gives information about commands. * Type safety, the extent to which a programming language discourages or prevents type errors. * Type system, defines a programming language's response to data types. Mathematics * Type (model theory) * Type theory, basis for the study of type systems * Arity or type, the number of operands a function takes * Type, any proposition or set in the intuitionistic type theory * Type, of an entire function#Order and type, entire function ** Exponential type Biology * Type (biology), which fixes a scientific name to a taxon * Dog type, categorization by use or function of domestic dogs Lettering * Type is a design concept for lettering used in typography which helped b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customs Territory
A customs territory is a territory with uniform customs regulations and there are no internal customs or similar taxes within the territory. Customs territories may fall into several types: * A sovereign state, including a federation * A trade bloc that has a customs union * An List of autonomous areas by country, autonomous or dependent territory, dependent territory There are also some unregulated lands (usually uninhabited) not part of any customs territory. most List of customs unions, customs unions rarely operate as a single entity and are represented in relations with other customs territories either jointly by their member state governments and the union institutions or by only the member states. Thus, in practice, they rarely appear as a single customs territory and instead they operate as a multiple separate customs territories that have the same or similar customs tariffs. The European Union (EU) is the only trade bloc in which the union institutions have Treaty of Lis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free Movement Of Capital
The European single market, also known as the European internal market or the European common market, is the single market comprising mainly the Member state of the European Union, member states of the European Union (EU). With certain exceptions, it also comprises Iceland, Liechtenstein, Norway (through the Agreement on the European Economic Area), and Switzerland (through Switzerland–European Union relations, sectoral treaties). The single market seeks to guarantee the free movement of goods, capital (economics), capital, service (economics), services, and Freedom of movement for workers in the European Union, people, known collectively as the "four freedoms". This is achieved through common rules and standards that all participating states are legally committed to follow. Any Enlargement of the European Union, potential EU accession candidates are required to agree to association agreements with the EU during the negotiation, which must be implemented prior to accession. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free Movement Of Goods
The European single market, also known as the European internal market or the European common market, is the single market comprising mainly the member states of the European Union (EU). With certain exceptions, it also comprises Iceland, Liechtenstein, Norway (through the Agreement on the European Economic Area), and Switzerland (through sectoral treaties). The single market seeks to guarantee the free movement of goods, capital, services, and people, known collectively as the "four freedoms". This is achieved through common rules and standards that all participating states are legally committed to follow. Any potential EU accession candidates are required to agree to association agreements with the EU during the negotiation, which must be implemented prior to accession. In addition, through three individual agreements on a Deep and Comprehensive Free Trade Area (DCFTA) with the EU, Georgia, Moldova, and Ukraine have also been granted limited access to the single marke ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free Trade Agreement
A free trade agreement (FTA) or treaty is an agreement according to international law to form a free-trade area between the cooperating state (polity), states. There are two types of trade agreements: Bilateralism, bilateral and Multilateralism, 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Preferential Trade Arrangement
A preferential trade area (also preferential trade agreement, PTA) is a trading bloc that gives preferential access to certain products from the participating countries. This is done by reducing tariffs but not by abolishing them completely. It is the first stage of economic integration. These tariff preferences have created numerous departures from the normal trade relations principle, namely that World Trade Organization (WTO) members should apply the same tariff to imports from other WTO members. With the recent multiplication of bilateral PTAs and the emergence of Mega-PTAs (wide regional trade agreements such as the Transatlantic Trade and Investment Partnership (TTIP) or Trans Pacific Partnership (TPP)), a global trade system exclusively managed within the framework of the WTO now seems unrealistic and the interactions between trade systems have to be taken into account. The increased complexity of the international trade system generated by the multiplication of PTAs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade And Investment Framework Agreement
A Trade and Investment Framework Agreement (TIFA) is a trade pact that establishes a framework for expanding trade and resolving outstanding disputes between countries. TIFAs are often seen as an important step towards establishing Free Trade Agreements. The GATT The General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas. According to its preamble, its purpose was the "substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis." The GATT was first discussed during the United Nations Conference on Trade and Employment and was the outcome of the failure of negotiating governments to create the International Trade Organization (ITO). It was signed by 23 nations in Geneva on 30 October 1947, and took effect on 1 January 1948. It remained ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Integration
Economic integration is the unification of economic policies between different states, through the partial or full abolition of tariff and Non-tariff barriers to trade, non-tariff restrictions on trade. The trade-stimulation effects intended by means of economic integration are part of the contemporary economic Theory of the Second Best: where, in theory, the best option is free trade, with free competition and no trade barriers whatsoever. Free trade is treated as an idealistic option, and although realized within certain developed states, economic integration has been thought of as the "second best" option for global trade where barriers to full free trade exist. Economic integration is meant in turn to lead to lower prices for distributors and consumers with the goal of increasing the level of welfare, while leading to an increase of economic productivity of the states. Objective There are economic as well as political reasons why nations pursue economic integration. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union
The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are Geography of the European Union, located primarily in Europe. The union has a total area of and an estimated population of over 449million as of 2024. The EU is often described as a ''sui generis'' political entity combining characteristics of both a federation and a confederation. Containing 5.5% of the world population in 2023, EU member states generated a nominal gross domestic product (GDP) of around €17.935 trillion in 2024, accounting for approximately one sixth of global economic output. Its cornerstone, the European Union Customs Union, Customs Union, paved the way to establishing European Single Market, an internal single market based on standardised European Union law, legal framework and legislation that applies in all member states in those matters, and only those matters, where the states ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Association Of Southeast Asian Nations
The Association of Southeast Asian Nations, commonly abbreviated as ASEAN, is a regional grouping of 10 Sovereign state, states in Southeast Asia "that aims to promote economic and security cooperation among its ten members." Together, its member states represent a population of more than 600 million people and land area of over . The bloc generated a purchasing power parity (PPP) gross domestic product (GDP) of around trillion in 2022, constituting approximately 6.5% of global List of countries by GDP (PPP), GDP (PPP). ASEAN member states include some of the fastest growing economies in the world, and the institution plays an integral role in East Asian regionalism. The primary objectives of ASEAN, as stated by the association, are "to accelerate economic growth, social progress and cultural development in the region", and "to promote regional peace and stability through abiding respect for justice and the rule of law in the relationship among countries in the region and a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eurasian Economic Union
The Eurasian Economic Union (EAEU or EEU)EAEU is the acronym used on thorganisation's website However, many media outlets use the acronym EEU. is an economic union of five post-Soviet states located in Eurasia. The EAEU has an integrated single market. As of 2023, it consists of 183 million people and a gross domestic product of over $2.4 trillion. The Treaty on the Eurasian Economic Union was signed on 29 May 2014 by the leaders of Belarus, Kazakhstan, and Russia, and came into force on 1 January 2015. Treaties aiming for Armenia's and Kyrgyzstan's accession to the Eurasian Economic Union were signed on 9 October and 23 December 2014, respectively. Armenia's accession treaty came into force on 2 January 2015. Kyrgyzstan's accession treaty came into effect on 6 August 2015. Kyrgyzstan participated in the EAEU from the day of its establishment as an acceding state. The EAEU encourages the free movement of goods and services, and provides for common policies in the macroeconomic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
