Trades - World Trade - Basics - Terms - Glossaries - History

http://www.1mtx.com/markets-trades/en/index.php?language=en&menu=TRADES&punkt=World_Trade&punkt2=World%20Trade&index=Basics#World%20TradeBasics International trade is the exchange of goods and services across international boundaries or territories. World Trade : Basics » Terms - History International trade is the exchange of goods and services across international boundaries or territories. Definitions - Terms: A B C D E F History: Ancient » ...more Links ! ...| Reports | Analysis | Opinions | Comments |... ...Take a Break...Just Relax... In most countries, international trade represents a significant part of their GDP. While international trade has been present throughout much of history, its economic, social, and political importance... Latest Updates... Latest Data: World 'TOTAL' Top Importers - Top Exporters Latest Updates... ......have increased in recent centuries, mainly because of industrialisation, advanced transportation, multinational corporations, outsourcing, globalisation. International TRADE (Associations - Terms - Definitions) | A | B | C | D | E | F | | A | AFTA (Asian Free Trade Area) ASEAN Free Trade Area (AFTA) is an agreement by the Association of Southeast Asian Nations, of local manufacturing in all ASEAN countries. »...more The ASEAN Free Trade Area (AFTA) is an agreement by the member nations of ASEAN concerning local manufacturing in all ASEAN countries. The AFTA agreement was signed on January 28, 1992 in Singapore. When the AFTA agreement was originally signed, ASEAN had six members, namely, Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand. Vietnam joined in 1995, Laos and Myanmar in 1997, and Cambodia in 1999. The latecomers have not fully met the AFTA's obligations, but they are officially considered part of the AFTA as they were required to sign the agreement upon entry into ASEAN, and were given longer time frames in which to meet AFTA's tariff reduction obligations. » more » 1MTX TRADES | Trade Blocs | Asia Pacific Agreements World Trade Organization agreements: ...Agreement on Agriculture ...Agreement on the Application of Sanitary ... ...Agreement on Technical Barriers to Trade ...Agreem. on Trade-Related Aspects of Intellect... ...General Agreement on Trade in Services Andean Community of Nations (CAN) The Andean Community of Nations (Spanish: Comunidad Andina de Naciones, CAN) is a trade bloc comprising the South American countries of Bolivia, Colombia, Ecuador, Peru and Venezuela (which is in the process of leaving the bloc). The trade bloc was called the Andean Pact until 1996 and came into existence with the signing of the Cartagena Agreement in 1969. Its headquarters are located in Lima, Peru. The Andean Community has 120 million inhabitants living in an area of 4,700,000 square kilometers, whose Gross Domestic Product amounted to US$745.3 billion in 2005, including Venezuela. »...Membership » more » 1MTX TRADES | Trade Blocs | Americas APEC (Asia-Pacific Economic Cooperation) The Asia-Pacific Economic Cooperation (APEC) is an economic forum for a group of Pacific Rim countries to discuss matters on regional economy, cooperation, trade and investment. Together, these countries represent about 60% of the world economy (World Bank). Ministers from the member economies meet on a continual basis throughout the year. The activities are coordinated by the APEC Secretariat based in Singapore. The organization conducts the APEC Economic Leaders Meeting, an annual summit attended by the heads of government of all APEC members except Chinese Taipei, which is represented by a ministerial-level official. The location of the summit rotates annually among the member economies. The current membership of APEC consists of 21 members, which includes most countries with a coastline on the Pacific Ocean. »...Member Economies ASEAN (Association of Southeast Asian Nations) The Association of Southeast Asian Nations (ASEAN) is a geo-political and economic organization of 10 countries located in Southeast Asia, which was formed on August 8, 1967 by Indonesia, Malaysia, the Philippines, Singapore, and Thailand as a display of solidarity against communist expansion in Vietnam and insurgency within their own borders. Since then the role of the organization has changed drastically, and today Vietnam itself is a member, its aims include the acceleration of economic growth, social progress, cultural development among its members, and the promotion of regional peace. In 2005, the bloc had a combined GDP (Nominal/PPP) of about USD$884 billion/$2.755 trillion growing at an average rate of around 4% per annum. Nominal GDP had grown to $1,066.4 billion in 2006. »...Membership The ASEAN Free Trade Area (AFTA) is an agreement by the member nations of ASEAN concerning local manufacturing in all ASEAN countries. The AFTA agreement was signed on January 28, 1992 in Singapore. When the AFTA agreement was originally signed, ASEAN had six members, namely, Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand. Vietnam joined in 1995, Laos and Myanmar in 1997, and Cambodia in 1999. The latecomers have not fully met the AFTA's obligations, but they are officially considered part of the AFTA as they were required to sign the agreement upon entry into ASEAN, and were given longer time frames in which to meet AFTA's tariff reduction obligations. » more » 1MTX TRADES | Trade Blocs | Asia Pacific A B C D E F History: Ancient » ...more Links ! ...| Reports | Analysis | Opinions | Comments |... ...Take a Break...Just Relax... ^ top | B | Bank for International Settlements (BIS) An international organization fostering the cooperation of central banks and international financial institutions. »...more »...website BIS BIMSTEC The Bay of Bengal Initiative for MultiSectoral Technical and Economic Cooperation (BIMSTEC) is an international organisation involving a group of countries in South Asia and South East Asia. The member nations of this group are: Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal. The seven nation countries have endorsed a plan for a free trade pact by 2017 -- while the three most advanced countries of the area (India, Sri Lanka, and Thailand) are committed to trade liberalization by 2012. »...more »...BIMSTEC (website) BIT A Bilateral Investment Treaty (BIT) is an agreement establishing the terms and conditions for private investment by nationals and companies of one state in the state of the other. This type of investment is called Foreign direct investment (FDI). BITs are established through trade pacts. Most BITs grant investments made by an investor of one Contracting State in the territory of the other a number of guarantees, which typically include fair and equitable treatment, protection from expropriation, free transfer of means and full protection and security. The distinctive feature of many BITs is that they allow for an alternative dispute resolution mechanism, whereby an investor whose rights under the BIT have been violated could have recourse to international arbitration... »...more »...Trade Compliance Center (website) Bretton Woods System The Bretton Woods system of international monetary management established the rules for commercial and financial relations among the world's major industrial states. The Bretton Woods system was the first example of a fully negotiated monetary order intended to govern monetary relations among independent nation-states. »...more » more » 1MTX TRADES | World Trade | WTO A B C D E F History: Ancient » ...more Links ! ...| Reports | Analysis | Opinions | Comments |... ...Take a Break...Just Relax... ^ top | C | CACM The Central American Common Market (CACM), is an economic trade organization between five nations of Central America. Established 1960 between the nations of Guatemala, El Salvador, Honduras and Nicaragua in a conference in Managua. Costa Rica joined the CACM in 1963. The organization collapsed in 1969 with the Football War between Honduras and El Salvador, but was then reinstated in 1991. ... ...more (Comparison with other regional blocs) CAFTA The Dominican Republic–Central America Free Trade Agreement, commonly called DR-CAFTA, (pronounced as "Doctor Cafta") is a free trade agreement ... ...more (Aims) CARICOM The Caribbean Community (CARICOM), originally the Caribbean Community and Common Market, was established by the Treaty of Chaguaramas which came into effect on August 1, 1973. The first four signatories were Barbados, Jamaica, Guyana and Trinidad and Tobago. CARICOM replaced the 1965–1972 Caribbean Free Trade Association (CARIFTA)... »...more »...CARICOM (website) » more » 1MTX TRADES | Trade Blocs | Americas Carry trade The term carry trade without further modification refers to currency carry trade: investors borrow low-yielding currencies and lend high-yielding ones. It tends to correlate with global financial and exchange rate stability, and retracts in use during global liquidity shortages. »...more CCASG Cooperation Council for the Arab States of the Gulf (CCASG) ...see: GCC (Gulf Cooperation Council) CEFTA The Central European Free Trade Agreement (CEFTA) is a trade agreement between countries in Central and South-Eastern Europe. ... »...more » more » 1MTX TRADES | Trade Blocs | Europe CER Closer Economic Relations (CER) is a free trade agreement between the governments of New Zealand and Australia. It is also known as the Australia New Zealand Closer Economic Relations Trade Agreement (ANZCERTA)... »...more CIF Cost, Insurance and Freight (CIF) is a common term in a sales contract that may be encountered in international trading when ocean transport is used. When a price is quoted CIF, it means that the selling price includes the cost of the goods, the freight or transport costs and also the cost of marine insurance. CIF is an international commerce term (Incoterm). CINS Number An acronym standing for the "CUSIP International Numbering System," which provides identification of international securities. more see: CUSIP Number COMESA Common Market for Eastern and Southern Africa (COMESA) is a preferential trading area with twenty member states stretching from Libya to Zimbabwe. COMESA formed in December 1994, replacing a Preferential Trade Area which had existed since 1981. Nine of the member states formed a free trade area in 2000, with Rwanda and Burundi joining the FTA in 2004 and the Comoros and Libya in 2006. »...Membership » more » 1MTX TRADES | Trade Blocs | Africa - Middle East Commodity Any bulk good traded on an exchange or in the cash market. Commodities: things of value, of uniform quality, that are produced in large quantities by many different producers; the items from each different producer are considered equivalent. It is the contract and this underlying standard that define the commodity, not any quality inherent in the product. » more » (Commodities - 1MTX) » more » 1MTX MARKETS | Commodities | List World Commodities Exch. Currency A currency is a unit of exchange, facilitating the transfer of goods and services. It is one form of money, where money is anything that serves as a medium of exchange, a store of value, and a standard of value. A currency zone is a country or region in which a specific currency is the dominant medium of exchange. To facilitate trade between currency zones, there are exchange rates i.e. prices at which currencies (and the goods and services of individual currency zones) can be exchanged against each other. »...more » more » 1MTX MARKETS | CURRENCY | Converter » more » 1MTX MARKETS | CURRENCY | Exchange Rates CUSIP Number A number identifying all stocks and registered bonds. The Committee on Uniform Securities Identification Procedures (CUSIP) oversees the entire CUSIP system. »...CUSIP.com Customs Customs is an authority or agency in a country responsible for collecting customs duties and for controlling the flow of animals and goods (including personal effects and hazardous items) in and out of a country. A customs duty is a tariff or tax on the import of or export of goods. In England, customs duties were traditionally part of the customary revenue of the king, and therefore did not need parliamentary consent to be levied, unlike excise duties, land tax, or other impositions. »...more »...Customs broking Customs Union A customs union is a free trade area with a common external tariff. The participant countries set up common external trade policy, but in some cases they use different import quotas. Common competition policy is also helpful to avoid competition deficiency. Purposes 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. Customs union is established through trade pact. »...List of Customs Unions A B C D E F History: Ancient » ...more Links ! ...| Reports | Analysis | Opinions | Comments |... ...Take a Break...Just Relax... ^ top | D | Doha Development Round The Doha Development Round commenced at Doha, Qatar in November 2001 and is still continuing. Its objective is to lower trade barriers around the world, permitting free trade between countries of varying prosperity. As of 2007, talks have stalled over a divide between the developed nations led by the European Union, the United States and Japan and the major developing countries (represented by the G20 developing nations), led and represented mainly by India, Brazil, China and South Africa. (The World Trade Organization conducts negotiations through what is called rounds.) »...more (Doha Round - Cancun - Geneva, 2004 - Paris, 2005 - etc. - Potsdam, 2007) »...more (The death of the WTO's Doha talks - BBC) »...more (Final round for global trade deal - BBC) » more » 1MTX TRADES | World Trade | WTO DR-CAFTA The Dominican Republic–Central America Free Trade Agreement, commonly called DR-CAFTA, (pronounced as "Doctor Cafta") is a free trade agreement ... ...more (Aims) » more » 1MTX TRADES | Trade Blocs | Americas Dumping Dumping 1. A slang term for selling a stock with little regard for price. 2. In international trade, this occurs when one country exports a significant amount of goods to another country at prices much lower than in the domestic market. A B C D E F History: Ancient » ...more Links ! ...| Reports | Analysis | Opinions | Comments |... ...Take a Break...Just Relax... ^ top | E | EAC The East African Community (EAC) is an intergovernmental organisation with plans to form a country called East African Federation with one President by 2010 ruling over what were countries of Tanzania, Kenya, Uganda, Burundi and Rwanda. »...more (Members, History, Future Plans, etc.) »...EAC (Official website) » more » 1MTX TRADES | Trade Blocs | Africa - Middle East EAEC (EurASEC) The Eurasian Economic Community (EurAsEC or EAEC) was put into motion in 2000 when Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan signed the treaty. EurAsEC was formally created when the treaty was finally ratified by all five member states in May 2001. »...more (Members, Aims, etc.) ECOWAS The Economic Community of West African States (ECOWAS) is a regional group of fifteen West African countries, founded 1975 with the signing of the Treaty of Lagos. Its mission is to promote economic integration. In 1976 Cape Verde joined ECOWAS, and in 2002 Mauritania withdrew. It was founded to achieve "collective self-sufficiency" for the member states by means of economic and monetary union creating a single large trading bloc. »...more (Member, etc.) »...EAC (Official website) » more » 1MTX TRADES | Trade Blocs | Africa - Middle East EEA The European Economic Area (EEA) came into being on January 1, 1994 following an agreement between the European Free Trade Association (EFTA) and the European Union (EU). It was designed to allow EFTA countries to participate in the European Single Market without having to join the EU. »...more (Members, EEA Freedoms, Legislation, etc.) » Documents: The EEA Agreement (EFTA.int - website) » more » 1MTX TRADES | Trade Blocs | Europe EFTA The European Free Trade Association (EFTA) was established on May 3, 1960 as an alternative for European states that were not allowed or did not wish to join the European Economic Community (now the European Community). The EFTA Convention was signed by seven states. Today only Iceland, Norway, Switzerland and Liechtenstein remain members of EFTA. The Stockholm Convention was subsequently replaced by the Vaduz Convention. This Convention provides for the liberalisation of trade among the Member States. »...more (History, Institutions, etc.) »...EFTA (Official website) » more » 1MTX TRADES | Trade Blocs | Europe EU (European Union) The European Union (EU) is a supranational union, made up of twenty-seven European countries. It was established as the European Economic Community in 1957 by the Treaty of Rome and has undergone many changes since, most notably in 1992 by the Maastricht Treaty. Since 1957 new accessions have raised the number of member states, and powers have expanded. As a result, the EU can be described as both a supranational and an intergovernmental body. The combined economy of the EU is the largest in the world with a nominal GDP of €11.6 (US$15.7) trillion in 2007. The EU has a single market between member states with a common trade policy. »...more (History, Members, Economy, etc.) »...EUROPA (the official EU web portal ) » more » 1MTX TRADES | Trade Blocs | Europe Exchange Rate ...see Foreign-Exchange rate (FX Rate) A B C D E F History: Ancient » ...more Links ! ...| Reports | Analysis | Opinions | Comments |... ...Take a Break...Just Relax... ^ top | F | Fair trade Fair trade is an organized social movement which promotes standards for international labor, environmentalism, and social policy in areas related to production of Fairtrade labeled and unlabeled goods. The movement focuses in particular on exports from developing countries to developed countries. Fair trade's strategic intent is to deliberately work with marginalised producers and workers in order to help them move from a position of vulnerability to security and economic self-sufficiency. It also aims at empowering them to become stakeholders in their own organizations and actively play a wider role in the global arena to achieve greater equity in international trade. »...more (Key fair trade principles) »...FTF (Fair Trade Federation website) »...FLO (Fairtrade Labelling Organiz. Internat. website) » more » 1MTX TRADES | World Trade | Fair Trade FBF Organization that promotes the development of stock exchanges and financial markets in Central and Eastern Europe. »...more foreign- exchange rate (FX rate) The exchange rate (also known as the foreign-exchange rate, forex rate or FX rate) between two currencies specifies how much one currency is worth in terms of the other. The foreign exchange market is one of the largest markets in the world. By some estimates, about 2 trillion USD worth of currency changes hands every day. The spot exchange rate refers to the current exchange rate. The forward exchange rate refers to an exchange rate that is quoted and traded today but for delivery and payment on a specific future date. »...more (Quotations) »...more (Nominal and real exchange rates) »...more (Asset market model - Fluctuations in exchange rates) » more » 1MTX MARKETS | Foreign Exchange Markets » more » 1MTX MARKETS | CURRENCY | Converter » more » 1MTX MARKETS | CURRENCY | Exchange Rates Foreign exchange reserves Foreign exchange reserves (also called Forex reserves or International reserves) are the foreign currency deposits, gold, SDRs and IMF reserve position held by central banks and monetary authorities. These are assets of the central banks which are held in different reserve currencies such as the Dollar, euro and yen, and which are used to back its liabilities, e.g. the local currency issued, and the various bank reserves deposited with the central bank, by the government or financial institutions. »...Levels ...see also, Reserves of foreign exchange and gold Free trade Free trade is a market model in which trade in goods and services between or within countries flow unhindered by government-imposed restrictions. Restrictions to trade include taxes and other legislation, such as tariff and non-tariff trade barriers. Free Trade can be contrasted with protectionism, which is the economic policy of restraining trade between nations, through methods such as high tariffs on imported goods, restrictive quotas, a variety of restrictive government regulations designed to discourage imports, and anti-dumping laws in an attempt to protect domestic industries in a particular nation from foreign take-over or competition. »...more (Economics of free trade) »...Freetrade.org (Center for Trade Policy Studies, Cato Institute) Free trade zone A free trade zone (FTZ) or Export processing zone (EPZ) is one or more areas of a country where tariffs and quotas are eliminated and bureaucratic requirements are lowered in hopes of attracting new business and foreign investments. Free trade zones can be defined as labor intensive manufacturing centers that involve the import of raw materials or components and the export of factory products. Most FTZs are located in developing countries. They are special zones where some normal trade barriers such as import or export tariffs do not apply, bureaucracy is typically minimized by outsourcing it to the FTZ operator and corporations setting up in the zone may be given tax breaks as an additional incentive. »...more FTAA The Free Trade Area of the Americas (FTAA) (Spanish + Portugese: ALCA, French: ZLEA) was a proposed agreement to eliminate or reduce the trade barriers among all countries in the Americas. The proposed agreement was an extension of the North American Free Trade Agreement (NAFTA) between Canada, Mexico and the United States. »...more (History, Opposition and Critics) »...FTAA (FTAA - ALCA.org website) A B C D E F History: Ancient » ...more Links ! ...| Reports | Analysis | Opinions | Comments |... ...Take a Break...Just Relax... ^ top History of International Trade Chronology of Events: Ancient History Roman trade with India according to the Periplus Maris Erythraei, 1st century CE. Roman trade with India according to the Periplus Maris Erythraei, 1st century CE. ? Records from the 19th century BC attest to the existence of an Assyrian merchant colony at Kanesh in Cappadocia. ? The domestication of camel allows Arabian nomads to control long distance trade in spices and silk from the Far East. ? The Egyptians trade in the Red sea, importing spices from the "Land of Punt" and from Arabia. ? Indian goods are brought in Arabian vessels to Aden. ? The "ships of Tarshish," a Tyrian fleet equipped at Ezion Geber, make several trading voyages to the East bringing back gold, silver, ivory and precious stones. ? Tiglath-Pileser III attacks Gaza in order to control trade along the Incense Route. ? The cargo from the India and Egypt trade is shipped to Aden. ? The Silk Road is established after the diplomatic travels of the Han Dynasty Chinese envoy Zhang Qian to Central Asia, with Chinese goods making their way to India, Persia, and the Roman Empire, and vice versa. ? The Greek Ptolemaic dynasty exploits trading opportunities with India prior to the Roman involvement. ? With the establishment of Roman Egypt, the Romans initiate trade with India. ? The goods from the East African trade are landed at one of the three main Roman ports, Arsinoe, Berenice or Myos Hormos. ? Myos Hormos and Berencie (rose to prominence during the 1st century BCE) appear to have been important ancient trading ports. ? Gerrha controls the Incense trade routes across Arabia to the Mediterranean and exercises control over the trading of aromatics to Babylon in the 1st century BC. ? Additionally, it served as a port of entry for goods shipped from India to the East. ? Due to its prominent position in the Incense trade, Yemen attracts settlers from the fertile crescent. ? Pre-Islamic Meccans use the old Incense Route to benefit from the heavy Roman demand for luxury goods. ? In Java and Borneo, the introduction of Indian culture creats a demand for aromatics. These trading outposts later serve the Chinese and Arab markets. ? Following the demise of the incense trade Yemen takes to the export of Coffee via the Red Sea port of al-Mocha. A B C D E F History: Ancient » ...more Links ! ...| Reports | Analysis | Opinions | Comments |... ...Take a Break...Just Relax... ^ top » ...more Links ! » more Links A century of free trade ...BBC News Online presents an illustrated history of the struggle over free trade this century which lead to the establishment of the World Trade Organisation. Trade was the engine of economic growth in the 19th Century. Countries dropped their restrictions on free trade, while the Gold Standard was used worldwide to measure the value of goods and currencies, providing a universal currency... » ...A century of free trade (BBC.co.uk - website) The International Trade Centre (ITC) ...is the joint technical cooperation agency of the United Nations Conference on Trade and Development (UNCTAD) and the World Trade Organization (WTO)... » About ITC (Intracen.org - website) The World Trade Organization (WTO) ...is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business... » What is the WTO (WTO.org - website) STOCKS GLOSSARY A - Z Terms - Definitions - Exchanges TRADES GLOSSARY A - Z Terms - Definitions A B C D E F History: Ancient » ...more Links ! ...| Reports | Analysis | Opinions | Comments |... ...Take a Break...Just Relax... ^ top ...| Reports | Analysis | Opinions | Comments |... | Reports | Analysis | Opinions | Comments | History is More Important than Statistics Employees of European plane maker Airbus have denied that the weak dollar is threatening the company's survival, a German newspaper report has said...The strength of the euro does create a problem but does not threaten the firm's existence, the firm's workers' council told the Berliner Zeitung... Read more » (by by Mack Frankfurter - Safehaven.com; October 13, 2006) A B C D E F History: Ancient » ...more Links ! ...| Reports | Analysis | Opinions | Comments |... ...Take a Break...Just Relax... ^ top Trades: History Trades History Take a break... ...Take a Break...Just Relax... Discover Romania: People Trades and Tools 4 min. trailer ...just relax... APEC Member Countries APEC Member Countries ADVERTISEMENT A B C D E F History: Ancient » ...more Links ! ...| Reports | Analysis | Opinions | Comments |... ...Take a Break...Just Relax... ^ top Sources: Wikipedia.org; BBC.co.uk; Foreignpolicy.com; Nasdaq.com; Safehaven.com; 1MTX 2008 International trade is the exchange of goods and services across international boundaries or territories. World Trade : Basics » Terms - History International trade is the exchange of goods and services across international boundaries or territories. Definitions - Terms: G H I J K L M History: Middle Ages » ...more Links ! ...| Reports | Analysis | Opinions | Comments |... ...Take a Break...Just Relax... In most countries, international trade represents a significant part of their GDP. While international trade has been present throughout much of history, its economic, social, and political importance... Latest Updates... Latest Data: World 'Cereals' Top Importers - Top Exporters Latest Updates... ......have increased in recent centuries, mainly because of industrialisation, advanced transportation, multinational corporations, outsourcing, globalisation. International TRADE (Associations - Terms - Definitions) | G | H | I | J, K | L | M | | G | GAFTA Greater Arab Free Trade Area (GAFTA): GAFTA is a pact made by the Arab League to achieve a complete Arab economic bloc that can compete internationally. GAFTA is relatively similar to ASEAN. »...more (Members, Progress) »...Arab Monetary Fund (AMF website) » more » 1MTX TRADES | Trade Blocs | Africa Middle East GATT The General Agreement on Tariffs and Trade (GATT) was originally created by the Bretton Woods Conference as part of a larger plan for economic recovery after World War II. The GATT's main purpose was to reduce barriers to international trade. This was achieved through the reduction of tariff barriers, quantitative restrictions and subsidies on trade through a series of different agreements. »...more (history, trade negotiations) »...GATT / WTO (website) | I |