Ibus Chap8

  1. Regional Economic Integration?
    Efforts to reduce trade and investment barriers within one region.
  2. European Union?
    The official title of European economic integration since 1993.
  3. Global Economic Integration?
    Efforts to reducetrade and investment barriers around the globe.
  4. General Agreement on Tariffs and Trade (GATT)?
    A multilateral agreement governing the international trade of goods (merchandise).
  5. World Trade Organization?
    The official title of the multilateral trading system and the organization underpinning this system since 2005.
  6. Multilateral Trading System?
    The global system that giverns internation trade among countries- otherwise known as the GATT/ WTO system.
  7. Nondiscription?
    A principle tha a country cannot discriminate among its trading partners (a concession made for one member of the GATT and WTO must be made for all).
  8. General Agreement on Trade in Services (GATS)?
    A WTO agreement governing the international trade of services.
  9. Trade-Related Aspects of Intellectual Property Right?
    A WTO agreement governing intellectual preoperty rights.
  10. The Doha Round?
    A round of WTO negotaitions to reduce agricultural subsidies, slash tariffs, and strengthen intellectual property protection started in Doha, Qatar in 2001.
  11. Free Trade Area (FTA)?
    A group countries that removes trade barriers among themselves.
  12. Custom Union?
    One step beyond a free trade area, a customs union imposes common external policies on non-participating countries.
  13. Common Market?
    Combining everything a customs union has, a common market, in addition, permits the free movement of goods and people.
  14. Economic Union?
    Has all the features of a common market. Members also coordinate and harmonize economic policies to blend their economies into a single economic entity.
  15. Monetary Union?
    A group of countries that use a common currency.
  16. Political Union?
    The integration of political and economic affairs of a region.
  17. Schengen?
    A passport-free travel zone within the EU.
  18. Euro?
    The currency currently used in 12 EU countries.
  19. Euro Zone?
    The 12 EU countries that currently use the euro as the official currency.
  20. North American Free Trade Agreement?
    A free trade agreement among Canada, Mexico, and the United States.
  21. Andean Community?
    A customs union in South America that was launched in 1969.
  22. Mercosur?
    A customs union in South America that was launched in 1991.
  23. Free Trade Area of the Americas?
    A proposed free trade area for the entire Western hemisphere.
  24. United States-Dominican Republic-Central America Free Trade Agreement?
    A free trade agreement between the United State and the five Central American countries and Dominican Republican.
  25. Association of the Southeast Asian Nations?
    The organization underpinning economic integration within Southeast Asia.
  26. Asia Pacific Economic Cooperation?
    The official title for regional economic integration involving 21 member economies around the Pacific.
Card Set
Ibus Chap8