...Executive Summary Foreign trade has been considered as an engine of economic growth. The progress of a country to a large extent depends on their ability to trade relatively freely with the rest of world. The rapid export growth not only contributes directly to economic growth but it permits more imports and rapid modernization of production. It is necessary to understand Indian Fertilizers Industry position in world trade and their promotional strategy for integrating India with the world trade. In terms of Indian Fertilizer Industry, Composition of Foreign Trade, Direction of Exports and Imports and Major Problems of Indian Fertilizer Export Sector will be analyzed. Overall the industry specific export-import scenario, avenues and prospects, India’s competitive advantages and disadvantages and suitable export strategies to boost the exports of carpet related products will be discussed. Though economic relations between India and Korea have been strengthening, the current size of trade and investment between the two countries is relatively low compared to the size and structural complementarities of the two economies. In this context, the present paper analyses trade and investment relations and explores future areas of potential co-operation between India and Korea. We find that the increase in merchandise trade between the two countries has been mainly because of the changing demand structure and comparative advantages of both the economies in complementary sectors in...
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...Report of the Joint Study on the Possibility of a Canada-Japan Economic Partnership Agreement March 2012 Contents Introduction and Purpose of the Study ................................................................................................ 2 Executive Summary ............................................................................................................................. 3 Chapter 1: Overview of Bilateral Economic Relations ....................................................................... 5 1.1 1.2 1.3 1.4 Overview............................................................................................................................... 5 Trends in Bilateral Trade in Goods ...................................................................................... 7 Trends in Bilateral Trade in Services ................................................................................... 9 Trends in Foreign Direct Investment ................................................................................. 10 Chapter 2: Analysis of the Economic Effects from a Canada-Japan Economic Partnership Agreement .......................................................................................................................................... 12 Chapter 3: Analysis of Major Areas of an Economic Partnership Agreement ................................. 14 3.1 Market Access (including Rules of Origin) .......................................................
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...China-ASEAN Economic Relations: Development And Future Challenge. Abstract: In recent 15 years, The development of China-ASEAN trade and economic relations has of great significance, not only for both sides but also for the whole East-Asia region. This paper to discuss the latter that is regional implications of 15 years’ development of China-ASEAN trade and economic relations and find the problem and challenge in China-ASEAN trade relations, as well as provide some further consideration for both sides’ trade and economic relations. Introduction Since the economic reforms and open-door policy of1978-79, China's economy has been growing rapidly and more particularly since 1990 when growth has averaged 10% a year. China's external trade has been growing at an even faster rate of 15% a year since 1990, and it has also annually drawing from the lessons of the financial contagion of 1997. Economic links between ASEAN and China through trade, investments and tourism have prospered throughout the 1990s. Perhaps, equally important, China's maintenance of the value of the renminbi (RMB) during the economic crisis of 1997, served as a regional anchor preventing what could possibly have been successive rounds of competitive devaluations. This clearly prevented the crisis from becoming more acute for ASEAN countries and yet this put China’s own exports at risk, as much cheaper goods from the crisis-plagued region competed with Chinese goods. Another important milestone that contributed...
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...------------------------------------------------- Free Trade Area of the Americas From Wikipedia, the free encyclopedia The Free Trade Area of the Americas logo The Free Trade Area of the Americas (FTAA) (Spanish: Área de Libre Comercio de América [ALCA], French: Zone de libre-échange de Amérique [ZLÉA],Portuguese: Área de Livre Comércio das Américas [ALCA], Dutch: Vrijhandelszone van Amerika) was a proposed agreement to eliminate or reduce the trade barriers among all countries in the Americas excluding Cuba. In the latest round of negotiations, trade ministers from 34 countries met in Miami, United States, in November 2003 to discuss the proposal.[1] The proposed agreement was an extension of the North American Free Trade Agreement (NAFTA) between Canada, Mexico, and the United States. Opposing the proposal were Cuba, Venezuela, Bolivia, Ecuador, Dominica, Nicaragua and Honduras (all of which entered theBolivarian Alternative for the Americas in response), and Argentina, Chile and Brazil. Discussions have faltered over similar points as the Doha Development Round of World Trade Organization (WTO) talks; developed nations seek expanded trade inservices and increased intellectual property rights, while less developed nations seek an end to agricultural subsidies and free trade in agricultural goods. Similar to the WTO talks, Brazil has taken a leadership role among the less developed nations, while the United States has taken a similar role for the developed nations. Free Trade Area of the Americas began...
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...substantial trade reforms and liberalization in recent decades under the overall direction of the New Economic Mechanism (NEM). The process was initiated in mid-1980s when the country made efforts to transform the national economy from a centrally planned to a market-oriented one. Laos is making significant progress in moving forward its trade policy reforms and in pursuing a development strategy that recognizes openness to trade as the key engine for growth and poverty alleviation. To a large extent, Laos’ trade policy is now shaped by trade agreements, either at bilateral regional or multilateral fora. To date, Laos has also signed trade agreements with 18 countries, including: Vietnam; China; Cambodia; Burma; Thailand; North Korea; Philippines; Mongolia; Indonesia; Malaysia; Bulgaria; Russia; India; Belarus; Argentina; the United States; Kuwait and Turkey, the most recent and significant one is the bilateral agreement with the US by which Laos accords Normal Trade Relations (NTRs). At the regional level, Laos is participating in the ASEAN Free Trade Area (AFTA) and undertaking commitments under the Common Effective Preferential Tariffs (CEPT) scheme. It is also engaging in free trade area (FTA) negotiations with ASEAN-dialogues partners: China, Republic of Korea, Japan, India, and Australia and New Zealand together as Closer Economic Relation (CER). Apart from that, Laos benefits from the Asia Pacific Trade Agreement (APTA) which was formerly known as the Bangkok Agreement. Despite...
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...majority, brought back single party rule. Trade Agreements: India-Sri Lanka Free Trade Agreement, India-Nepal Trade Treaty, CECA, ASEAN Political and Legal Environment Independence: 15th August 1947 (British colonial rule) System: Federal Parliamentary Democratic Republic Legislature: Bicameral legislature (upper house- states of India; lower house- people of India) May 2014 Election: Bharatiya Janata Party claimed majority, brought back single party rule. Trade Agreements: India-Sri Lanka Free Trade Agreement, India-Nepal Trade Treaty, CECA, ASEAN Future Political and Economic Agenda * Improving foreign investment climate * Developing a comprehensive WTO strategy * Reforming agriculture, food processing, and small-scale industry * Eliminating red tape (excessive regulation or rigid conformity to formal rules) * Instituting better corporate governance * Accommodating an additional 10 million urban dwellers each year is a strategic policy issue. Future Political and Economic Agenda * Improving foreign investment climate * Developing a comprehensive WTO strategy * Reforming agriculture, food processing, and small-scale industry * Eliminating red tape (excessive regulation or rigid conformity to formal rules) * Instituting better corporate governance * Accommodating an additional 10 million urban dwellers each year is a strategic policy issue. Recent Political and Economic Movement * Recasting telecom sector’s...
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...acquired legal and formal existence on 6 June 2012, with the signature of the Framework Agreement. The process seeks to create attractive markets among its member countries and enhance their competitiveness in the wider world. 2 Member Countries T h e Pa c i f i c A l l i a n c e Mexico Colombia Peru Chile 3 Finland United Kingdom Netherlands Germany France Switzerland Italy Canada Turkey People's Republic of China Japan Republic of Korea United States of America Honduras Guatemala El Salvador Dominican Republic Costa Rica Panama Spain Portugal Morocco Israel India Singapore Ecuador Australia Paraguay Uruguay New Zealand Member-Candidate countries The Pacific Alliance Observer Countries T h e Pa c i f i c A l l i a n c e Costa Rica Panama 4 Objectives of the Pacific Alliance: To build, through participation and consensus, an area of deep integration that will move progressively forward towards the free circulation of goods, services, capital and persons. To dynamize growth, development and competitiveness in the economies of the Parties, in order to achieve greater welfare, overcome socioeconomic disparities and secure social inclusion in their societies. To become a platform for political articulation, economic and commercial integration, and projection to the world, especially to Asia-Pacific. The Alliance has a comprehensive agenda, determined by results already achieved in trade, in joint and coordinated action between promotion agencies, cooperation to strengthen...
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...establishment of the Association of Southeast Asian Nations (ASEAN). As the regional organization, the top priority of ASEAN is to accelerate the economic growth, social progress and cultural development in the region. Later on other countries in the region also joined this organization as follows; Brunei Darussalam in 1984, Vietnam in 1995, Laos and Myanmar (Burma) in 1997, and Cambodia in 1999. The ten-member organization is enhancing partnership, not only nations in the region, but also outside the region, especially with the United States (US). The relationship between ASEAN and the US has entered its fourth decade of partnership. Since the first engagement in 1977, both sides have experienced the ups and down of partnership. This relationship will become more significant as it broadens the sectors of partnership in the future. Initially, starting with economic and development cooperation, the enhanced relationships, with cooperation on politic, regional security, counter terrorism and transnational crimes, has achieved a new era of “comprehensive partnership.” For the next decade, regional development in Asia Pacific will require the partnership to become more comprehensive. Several key issues in the region will become the major consideration for the next type of partnership. Some issues exist in Asia Pacific region. These are economic development, environmental issues, transnational crime and terrorism, legal cooperation, immigration, drugs, the rise of anti-Americanism, natural...
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...International School of Business – University of Economics Ho Chi Minh RESEARCH ESSAY DINH XUAN LOC EAP5 EAP 5 Essay Topic – September 2015 Economy The United Stated, Vietnam, and ten other countries are working together to reach an agreement called the Trans-Pacific Partnership. Once completed, the TPP will boost the economies, lower barriers to trade and investment, increase exports, and create more jobs for the countries involved. To what extent do you agree with the above statement? Refer to specific examples in your answer. The global economy in the twenty first century has changed rapidly with the trend of trade liberalization. The appearance of some high valuable bi- and multilateral agreements might affect strongly trading activities in the future, especially the Trans-Pacific Partnership (TPP) agreement. This free trade agreement (FTA) is one of the most challenging and largest pacts not only for TPP members, but also for the international exchange. Therefore, the purpose of this paper is to ascertain the direct and indirect effect of the TPP agreement to the worldwide trading. In fact, if the TPP is signed by twelve members, it will boost the development of the global economy significantly, as well as might change the exchange policy around the world. The TPP is a comprehensive agreement, so its provisions cover various sectors of national economy, however, with the limitation of time and specialized knowledge, this paper only assess the outcome of the TPP...
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...Article 11/29/12 Japan Dives into Trade Talks ASEAN leaders begin RCEP negotiations Summary: An effort is being negotiated currently to launch a new regional comprehensive economic partnership called RCEP. The concept is this: to engage 16 Asia Pacific nations for free trade and to establish a trilateral free trade agreement with China and South Korea. Negotiations in this landmark free trade pact are taking place now in Phnom Pehn following the ASEAN Summit. If or once it is formed the RCEP is likely to cover half of the world’s population and would be the largest regional trading arrangement in the world to date. The RCEP is a strategy aimed at maintaining regional growth by ensuring that markets of the participating countries remain open and competitive. It is estimated that Japan’s GDP will grow by 1.1 percent with a wide range of partnership frameworks: tariff reductions and intellectual property protection. Under RCEP, which is different from individual country to country rules, there is a unification of rules and simpler business transaction procedures. The potential free trade agreements between ASEAN and China, Japan, South Korea, India, Australia and New Zealand could eventually lead to the creation of an integrated market that spans 16 countries with a combined market population of more than 3 billion people and a combined GDP of about US$19.78 trillion based on 2011 figures. The barriers are the economic gap between the 16 potential members:...
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...Would free trade agreements improve international trade by encouraging foreign direct investments and opening new markets (Name) (University) Table of contents 1 Introduction……………………………………………………………………………………...3 2 Literature review………………………………………………………………………………..3 2.1 The Changing Landscape of Regional Trade Agreements ……………………………...……3 2.1.1 Introduction………………………………………………………………………………….3 2.1.2 Evolution of the RTAs Landscape………………………………………………….……….4 2.1.3 Conclusion………………………………………………………………………………...6 2.1 Integrating Free Trade Agreements and the politics of Free trade Agreements…………….7 2.2.1 Introduction…………………………………………………………………………………7 2.2.2 MENA Region………………………………………………………………………………8 2.2.4 Conclusion………………………………………………………………………………...9 2.3 Arab Free Trade Area: Potentialities and Effects and the Impact of regional Trade Agreement and Trade Facilitation in the Middle East North Africa region…………………….10 2.3.1 Introduction………………………………………………………………………………..10 2.3.2 The Past……………………………………………………………………………………11 2.3.3 Conclusion…………………………………………………………………………………13 2.4 The North American Free Trade Agreement:Economic impacts of the agreement on United States of America and Mexico in comparison…………………………………………………14 2.4.1Introduction………………………………………………………………………………..14 2.4.2 About NAFTA……………………………………………………………………………15 2.4.3 Conclusion ……………………………………………………………………………….16 2.5 Effects of changes to USA-Korea Free Trade Agreements[FTA] On The Passenger Vehicle sector……………………………………………………………………………………………17...
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...2-International trade policies formation and implementation. On a first time The Republic of Korea has been a APEC (Asia-Pacific Economic Cooperation) member since 1989. APEC aims at improving international trade and investment liberalization by reducing trade barriers, business facilitation thanks to business transactions cost reduction and finally increase economic and technical collaboration between countries. Then in 1995 South Korea became a member of WTO (World Trade Organization) which intend to supervise international trade. It provides a framework for negotiating and formalizing trade agreements The year after the country became a member of OECD (composed by 34 nearly all developed countries) which provides each country members tools to monitor and analyze their economic policies. As an example, in 2012 during the OECD's Ministerial Council Meeting, held in Paris, The Republic of Korea participated to the adoption of policies regarding international growth and employment. This means South Korea decided to increase its globalization and overall competitiveness of its economy. Since the creation of the Free Trade Area Roadmap (2002-2003), Republic of Korea has vigorously pursued collaborations with its most important partners. Up to now, FTA (Free Trade Agreement) were signed with India, Peru, Singapore, Chile, ASEAN, European Union, United States and EFTA (European Free Trade Association) which is an intergovernmental organization composed by Iceland, Liechtenstein...
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...Through the help of the Comprehensive Economic Trade Agreement (CETA) and the Free Trade Agreement (FTA), Canada and the European Union have established an agreement that will further help the trade deals and investment ties between Canada and the European Union. Opening up the trade with CETA will eliminate 98% tariffs between both countries. This means Canada and the European Union will be able to import and export goods to each other at a more frequent and cheaper rate as well as opening up the market for more sales/trade opportunities. This deal will supposable outdo the North American Free Trade agreement that involved Canada, the United States and Mexico if approved by the European Union Parliament. In the article “Canada, EU agree...
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...attempts to reach a comprehensive multilateral agreement with binding rules have thus far not been successful. On a multilateral level the WTO's General Agreement on Trade in Services, by including rules on “commercial presence”, recognizes that FDI is a prerequisite for exporting many services (there are no corresponding rules on commercial presence in the General Agreement on Tariffs and Trade, which governs trade in goods). It is important to recognize that not everyone is enthusiastic about these developments. Critics are concerned about the possible negative effects of FDI. In “home” countries (where the outflow of capital originates), there are claims that FDI exports jobs and puts downward pressure on wages. In “host” countries (which receive the FDI), there are worries about the medium-term impact on the balance of payments, about potential monopolization of the domestic market, and more generally about the impact of FDI on the government's ability to manage the economy. Critics are also worried about the implications of having a multilateral agreement that lays down common standards for national FDI rules and requires each signatory to bind its rules under the agreement. Having to bind national FDI policies under a multilateral agreement would be viewed by critics as going even further in pre-empting a country's right to manage inflows of FDI. From a WTO perspective, the most interesting and relevant aspect of FDI is its interlinkages - economic,...
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...-The United States broke diplomatic relations with Iran in 1980 after a group of revolutionary Iranian students, angered that the deposed Shah has been allowed to enter the United States, seized the U.S. Embassy Tehran and took 52 Americans hostage The United States has long-standing concerns over Iran’s nuclear program, sponsorship of terrorism, and human rights record. The United States and the international community have imposed comprehensive sanctions against Iran to compel Iran to engage seriously in discussions with the international community and address concerns over its nuclear program and human rights abuses. US sanctions against Iran refer to economic, trade, scientific and military sanctions against Iran. On July 14, 2015, the United States, along with China, France, Germany, Russia and the United Kingdom reached an unprecedented agreement with Iran to ease sanctions in exchange for limitations on Iran’s nuclear program. The Joint Comprehensive Plan of Action (“JCPOA”) includes a timeline for measuring Iran’s compliance with the agreement, and ties lifting of certain sanctions to that compliance. U.S. Assistance to Iran -The State Department and USAID...
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