2.3 Government policy, agreements, and international trade Flashcards
What are trade agreements?
Sometimes called trade pacts are contractual agreements between countries concerning their trade relationships.
What does bilateral mean?
trade agreements between two countries
What does multilateral mean>
trade agreements between more than two countries
The North American Free Trade Agreement (NAFTA) was betweem?
Canada
Mexico
United States of America
When did NAFTA have an efefct?
January 1 1994
How many countries in the European Union (EU)
28 members and have a trade agreement to eliminate any trade barriers they also have the currency as euro
What is the main benefit of th EU?
Member counties have access to each other’s consumers (400 million)
What are trade organizations?
Are organizations that encourage and support free trade without the force of law
What does WTO stand for?
World Trade Organization
When was WTO created?
1995 that succeeds the General Agreement on Tariffs and Trade established at the end of World War II.
How many members in the WTO?
164
How many members in the International Monetary Fund?
189 member body created in 1945
What is the Organization for Economic Cooperation and Development do?
It has 38 countries Its created in 1948 and it helps to promote policies that will improve the economic and social well being of people around the world.
Asia Pacific Economic Cooperation
21 members
Supports sustainable economic growth and prosperity in the Asia Pacific region
What made APEC useful
Shipments of goods can easily be transported in the pacific ocean
What are some of the benefits of trade agreements for international trade?
Possible benefits include:
reduced or eliminated tariffs
elimination of other trade barriers
lower-cost imports
expanded markets and customer bases
What are some of the possible negative effects of free-trade agreements?
increased competition for domestic companies
elimination of jobs because of outsourcing`
There is a benefit to everyone when producers adhere to standards, and when consumers become more educated about them. An example is the international standard for environmental management (ISO 14001), increasingly used by businesses to demonstrate environmental responsibility.
Supports best practices
There is a benefit to consumers knowing that products work the same way in every country. As time passes, we will continue to see more developments and improvements in product universality across the world.
Usability
There is a benefit to consumers knowing that the same safety standards are being applied to air travel, building design, traffic lights, and product manufacturing standards, for example, from one country to another.
Consumer confidence
What does ISO stand for?
International Organization for Standarization
How many members in ISO
164
When was ISO established?
In 1947 in Switzerland and its main purpose is to develop voluntary world standards
What does ISO do for businesses?
They provide manufacturing process certifications
Defining a “Standard”
Is a document that provides requirements specification, guidelines or characteristics that can be used consistently to ensure that materials, products, processes and services are fit for their purpose
It help ensure businesses’ products are safe and can be reached to a larger broad
What are the 4 basic principles of ISO standards?
- Respond to need of the market: ISO responds to requests from stakeholders
- Based on global export opinion: Standards are developed from experts all over the world
- Multi-stakeholder process: Standards are developed through consultation with all stakeholders
- Consensus: standards are based on consensus from stakeholders This is a democratic approach.
Who is the Canadian safety organization in ISO?>
Standards Council of Canada that is a crown corporation created by an act of federal parliament. Its an independent government agency that promotes safety and quality standards domestically.
How does ISO support International trade?
by creating consistent and universal standards
_______________ have become experts in influencing the domestic and international trade policies of governments and trade organizations.
corporations
What is Lobbying?
Lobbying is the act of communicating with politicians or government officials for the purpose of influencing the way laws are written
Lobbying is based on four main principles
- Free and open access to government is an important matter of public interest
- Lobbying public office holders is a legitimate activity
- It is desirable that public office holders and general public be able to know who is engaged in lobbying activities
- The system of registration of paid lobbyists should not impede free and open access to the government
What is a consultant lobbyst?
are paid to lobby on behalf of their clients. They are required to register within 10 days of entering into a lobbying contract.
What are In-house lobbyists?
These are salaried employees of corporations or non-profit organizations. They lobby on behalf of their employer. If more than 20% of the employees duties consist of lobbying, they must also register.
All lobbying activity must be registered with the
Commissioner
Shaw Communications, BlackBerry, and Bell Canada are registered with the Commissioner as having ______________________
in-house lobbyists
