Financial Enviornment-2011

Financial Enviornment-2011 - Regional Market...

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Regional Market Characteristics and Preferential Trade Agreements Multinational Marketing MKT 359
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GATT and WTO General Agreement on Tariffs and Trade Designed to promote and liberalize trade No teeth, so did not really work WTO created in 1995 to replace GATT Process put in place to expedite and enforce complaints. Still causes controversy
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GATT It was created in 1947 GATT gave the world the basic rules for international trade and the mechanism to monitor the compliance of these rules GATT Principles Nondiscrimination Trade liberalization Tariff negotiation Consultations
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WTO It coordinates the implementation of existing rules for trading system It requires full participation of members It provides a comprehensive forum for trade issues It encompasses current GATT structure It has authority to impose sanctions to members countries violating trade rules
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Preferential Trade Agreements Free trade agreements Usually between two countries Can cause discrimination against other countries If the two countries are members of the WTO they usually notify them. Most do not comply with WTO regs but have not been denied.
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Regional Trade Agreements Free Trade Area NAFTA EFTA Customs Union ASEAN MERCOSUR CARICOM Common Market EEC Economic Union EU Monetary Union Euro Zone Political Union Goal of EU
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Different Regional Trade Agreement Around the World North America CFTA NAFTA Latin America SICA Andean Community Mercosur CARICOM
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Different Regional Trade Agreement Around the World-2 Asia-Pacific ASEAN Europe EU EFTA
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Financial Enviornment-2011 - Regional Market...

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