scholarly journals Free trade or people?

2001 ◽  
Vol 1 ◽  
pp. 11-12
Author(s):  
Mojca Nemgar
Keyword(s):  
Latin America ◽  
Free Trade ◽  
World Economy ◽  
Free Trade Area ◽  
Economic Power ◽  
Absolute Poverty ◽  
The Public ◽  
Trade Area ◽  
The World ◽  
American Economy

The growth of the GDP seems much more important than overall development of the country. The gap between rich and poor is increasing drastically. Everything that challenges profit e.g. worker's rights, pollution, descreasing absolute poverty is set aside and considered irrelevant. Only few are to decide what the world itself and world economy should be like. G-8, IMF, WB, WTO are deciding about the future of the world in a name of few, as they are deciding about the important matters of humanity away from the eyes of the public. Even the agreement of FTAA (Free Trade Area of Americas) was adopted away from the eyes of the public. Namely FTAA is compromising 34 states of Latin America and North America, although it seems that is only an extension of the NAFTA who has proved to be harmful both for the Mexico, which obviously does not have enough economic power to cope (financial crisis 1995) with thriving American economy, as for Canada, a member of G-8.

Cross-Cumulation Arrangement as FTA Under GATT Article XXIV

2019 ◽  
Vol 23 (1) ◽  
pp. 165-185
Author(s):  
Jong Bum Kim
Keyword(s):  
World Trade Organization ◽  
Free Trade ◽  
Value Chain ◽  
World Trade ◽  
Free Trade Area ◽  
Rules Of Origin ◽  
Free Trade Areas ◽  
Intermediate Products ◽  
Trade Area ◽  
The World

ABSTRACT A cross-cumulation arrangement helps manufacturers meet the demands of the global value chain economy by facilitating the sourcing of intermediate products within the territories of participants in the arrangement. It is a de facto free-trade area formed by a network of bilateral free-trade areas underpinning the arrangement. However, a cross-cumulation clause provided in a bilateral free-trade area that underpins a cross-cumulation arrangement is inconsistent with General Agreement on Tariffs and Trade (GATT) Articles I and III because the intermediate products from the participants in the arrangement are more favorably treated than products from non-participants in the arrangement. The GATT inconsistencies of a cross-cumulation clause cannot be justified by the GATT Article XXIV exception, because a cross-cumulation clause of a bilateral free-trade area derogates from the free-trade area’s aim by facilitating trade in intermediate products between the free-trade area parties and non-parties to the free-trade area that are participants in the arrangement. In contrast, a cumulation clause provided in a free-trade area contributes to the free-trade area’s aim by facilitating trade in intermediate products between the parties to the free-trade area. To bring a cross-cumulation arrangement such as the Regional Convention on Pan-Euro-Med Preferential Rules of Origin into conformity with World Trade Organization law, the arrangement and its underlying free-trade areas should be recognized as a de jure free-trade area under GATT Article XXIV and notified to the World Trade Organization as such. A large cross-cumulation arrangement as a mega-free-trade area is likely to contribute to the world trading system by harmonizing divergent free-trade area rules of origin and providing an efficient mechanism for the formation of a mega-free-trade area.

Advancing Regional Integration in Africa through the Continental Free Trade Area (CFTA)

2017 ◽  
Vol 10 (1) ◽  
Author(s):  
F. A. Ismail
Keyword(s):  
Trade Liberalization ◽  
Free Trade ◽  
World Bank ◽  
Regional Integration ◽  
Industrial Development ◽  
Free Trade Area ◽  
African Union ◽  
Trade Area ◽  
The World Bank ◽  
The World

AbstractThe past decade and a half of the new millennium has ushered in dramatic changes to the architecture of world trade creating both opportunities and challenges for Africa’s development. The paper is critical of the recent paper of the World Bank that resuscitates the approach to trade liberalization and regional integration propagated by the Washington Consensus. The paper argues that African countries should adopt a “development integration” approach to regional integration that seeks to combine trade liberalization, industrial development and infrastructure development. The paper urges the World Bank and Africa’s trading partners from the north and south, such as the EU, the US and China, to work closely with the African Union to advance the negotiations and implementation of the Continental Free Trade Area (CFTA) and the African Union Agenda 2063.

scholarly journals Trade-economic cooperation of Ukraine and China within COVID-19 Pandemic and in post-pandemic time

2021 ◽  
Vol 255 ◽  
pp. 01031
Author(s):  
Olha Yatsenko ◽  
Tetiana Tsygankova ◽  
Iryna Horbachova ◽  
Oksana Aksyonova ◽  
Valeriia Osadchuk
Keyword(s):  
Foreign Trade ◽  
Free Trade ◽  
Economic Integration ◽  
Free Trade Area ◽  
Economic Relations ◽  
Trade Area ◽  
World Crisis ◽  
The World ◽  
Export Volume ◽  
Mutual Relations

Modern trends of trade-economic relations of the countries within the COVID-19 pandemic have been systemized in the development of mutual relations in particular economy sectors have been identified. Direct connection between the increase of export volume to China and Ukraine GDP growth has been established in the study based on the correlation-regression analysis. Weaknesses and strengths as well as opportunities and threats of mutual relations within the pandemic have been defined. The influence of the world crisis, creating a free trade area, and other factors on foreign trade circulation between Ukraine and China have been studied with the tools of empirical gravity model of international trade. Foreign trade circulation up until 2022 with and without creating a Free Trade Area has been forecast based on the modelled data. Perspective directions of trade-economic relations have been defined; the strategy of extending the trade-economic integration of Ukraine and China within the COVID-19 pandemic and in post-pandemic time within customs tariffs liberalization, intensification of symmetric interdependence and complementarity between the countries, within creating a free trade area, diversifying trade turnovers, overcoming the pandemic, reduction of crisis consequences, and strengthening cooperation in new industries of post-pandemic time has been grounded.

scholarly journals IMPACT OF AFRICAN FREE TRADE POLICY (AGREEMENT) ON THE SOCIO-ECONOMIC DEVELOPMENT OF NIGERIA

2021 ◽  
Vol 4 (4) ◽  
Author(s):  
Chika P. Imoagwu ◽  
Joan N. Ozoh ◽  
Chinwe M. Madueke ◽  
Chidinma C. Mbah
Keyword(s):  
Economic Development ◽  
Free Trade ◽  
Household Income ◽  
Access To Health Care ◽  
Free Trade Area ◽  
Growth Strategy ◽  
Poverty Level ◽  
African Countries ◽  
Trade Area ◽  
The World

The signing of the agreement that established the African Continental Free Trade Area (AfCFTA) in the year 2019 is believed to be an African-based growth strategy that is self-reliant and is expected to be the world’s largest free trade area after the World Trade Organization (WTO). The agreement is an attestation to the fact that African countries cannot continue to rely solely on the global trading system and global economy of the world economic powers, probably because they are increasingly becoming unpredictable. However, there is an assumption that the aggregate consumer and business spending on the continent could rise if AfCFTA is implemented successfully. This assumption therefore calls for a research like this to evaluate the likely economic impacts of the free trade agreement on different African countries particularly Nigeria which is the giant of Africa and the focus of this study. To achieve the objectives of the study, descriptive statistical approach was utilized to examine how the AfCFTA could contribute particularly on poverty reduction and Nigeria has been struggling for many decades to reduce poverty. These variables were considered: household income, illiteracy level, unemployment level and access to health care. The results of the analyses revealed that the AfCFTA could be slightly beneficial to Nigeria as it would improve the efficiency of the factors of production and product markets thereby enhancing household income generation, reducing the level of illiteracy, unemployment and increasing access to good health, efficient resource allocation and improved industry competitiveness which was expected to help Nigeria record significant reduction in poverty level and increase in economic development. In the light of these findings, the study recommends that government should then design proactive strategies that would reap the full benefits of AfCFTA such as engaging the private sector in identifying receptive and risk surrounding their sectors and paying more attention to the development of the service sector etc. The study has potential limitations such as unavailability of recent data. To tackle this limitation, the study adopted the 2019 survey data on pillars of measuring human development index by World Bank to address the quality of the findings, and research question. JEL: F10, H13, O10 <p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0779/a.php" alt="Hit counter" /></p>

scholarly journals The Development of the Free Trade Area of the Americas: A Guide For Legal Research

2005 ◽  
Vol 33 (1) ◽  
pp. 11-64 ◽  
Author(s):  
Michelle S. Viegas
Keyword(s):  
United States ◽  
Free Trade ◽  
Free Trade Agreement ◽  
Free Trade Area ◽  
Trade Agreement ◽  
Trade Agreements ◽  
The United States ◽  
Common Market ◽  
Trade Area ◽  
The World

At the 1994 Summit of the Americas, leaders of democratic nations in the Western Hemisphere committed to establishing a Free Trade Area of the Americas (FTAA) by January 2005. The Declaration of Principles resulting from that Summit called for building on “existing sub-regional and bilateral arrangements in order to broaden and deepen hemispheric economic integration and to bring the agreements together.” Although ambitious, this endeavor was undertaken during a decade marked by an unprecedented proliferation of trade agreements. In 1991, Argentina, Brazil, Paraguay and Uruguay agreed to initiate the formation of a common market now known as the MERCOSUR. Then in 1994, Canada, Mexico and the United States signed the North American Free Trade Agreement which replaced the United States-Canada Free Trade Agreement. Later that year, nations around the world formalized the existing General Agreement on Tariffs and Trade, creating the World Trade Organization. In 1997, the Andean Community of Bolivia, Colombia, Ecuador, Peru and Venezuela formalized its plans to establish a common market. Members of the Caribbean Community and Common Market also agreed in several protocols to further their economic and social integration. During the 1990's, numerous other trade agreements were negotiated, and their development continues at the same rapid pace today.

scholarly journals The COVID-19 Pandemic and African Continental Free Trade Area (AfCFTA): Exploring Potential Impacts and Developmental Implications

2021 ◽  
Author(s):  
Edward Asiedu
Keyword(s):  
Free Trade ◽  
Free Trade Area ◽  
Trade Agreement ◽  
Potential Effect ◽  
African Countries ◽  
Trade Area ◽  
The World ◽  
Vulnerable Households

The COVID-19 pandemic has caused nontrivial disruptions to global value chains and affected the lives of many people, particularly the poor across the world. The outbreak of the COVID-19 pandemic in the early part of 2020 in Africa, happened during a time that African countries had just signed one of the world’s largest trade agreements and therefore began introducing continental-level structures to strengthen free trade among member states. This chapter examines the potential effect of the COVID-19 pandemic on the agenda for free trade in Africa, both in the short and in the long-term. Specifically, the chapter explores the trading environment of firms in Africa and highlights generally the challenges faced when implementing a trade agreement in the middle of a pandemic. It also, on the other hand, highlights how trade agreement in a middle of a pandemic can be a good thing to minimize the effect of the pandemic on poor and vulnerable households in Africa. The chapter ends by highlighting the need for managing the COVID-19 pandemic to grow and sustain intra-African trade.

scholarly journals Trade in Services in the African Continental Free Trade Area: Prospects, Challenges and WTO Compatibility

2020 ◽  
Vol 23 (1) ◽  
pp. 65-95
Author(s):  
Regis Y Simo
Keyword(s):  
Free Trade ◽  
Economic Integration ◽  
Paradigm Shift ◽  
World Trade ◽  
Free Trade Area ◽  
Single Market ◽  
Trade In Services ◽  
Goods And Services ◽  
Trade Area ◽  
The World

ABSTRACT This article engages with the recently adopted agreement for the African Continental Free Trade Area (AfCFTA) in the area of services. While services trade had heretofore stood at the queue of African trade pacts, the AfCFTA breaks new grounds by negotiating goods and services concurrently, signalling a paradigm shift and a commitment to a deeper integration of the continent. Upon Members’ implementation of the Protocol on Trade in Services, whose aim is to establish a single market in services, the region will be the largest economic integration agreement ever concluded since the birth of the World Trade Organization (WTO). This paper sets out to analyse the provisions of the Protocol and how they contribute to achieving the objective of attaining a single market where services (alongside goods, people and capital) move unrestricted.

Sign in / Sign up

Export Citation Format

Share Document