MKTG 376 Chapter Notes - Chapter 3: Central American Integration System, Dispute Settlement Body, Free-Trade Area
Document Summary
General agreement on tariffs and trade (gatt): promote trade, multilateral global initiative. World trade organization (wto, gatt" s successor): 1995 based in geneva, 157 members, has a dispute settlement body (dsb). Preferential trade agreement (pta): special treatment for select partners. Free trade area (fta): eliminate tariffs and barrier restrictions. Rules of origins: made in usa not valid for other fta. Customs union: logical evolution of fta, also establishes common external tariffs" (cet) Common market: next level of economic integration; free movement of factors of production (labor and capital). Us trading partners: 1) canada 2) mexico 3) china. European union (eu): 28 nations, 500 million people, world"s largest economy trillion gni. Reduce number of product adaptations due to harmonization of content standards. increase transparency which leads to better competition. common guidelines for tv broadcasting, standards for commercials simplify transit, eliminate customs formalities. Gulf cooperation council (gcc): holds 45% of oil reserves, 18% of output.
