Trade Acronyms -2
CFTA: Canada Free Trade Agreement; The Free Trade Agreement (FTA) was a trade agreement signed by Canada and the United States on October 4, 1988. The agreement, finalized by October 1987, removed several trade restrictions in stages over a ten year period, and resulted in a great increase in cross-border trade.
As dictated by the agreement, the main purposes of the Canadian-United States Free Trade Agreement are as follows:
lay the foundation for further bilateral and multilateral cooperation to expand and enhance the benefits of the Agreement.
- eliminate barriers to trade in goods and services between Canada and the United States;
- facilitate conditions of fair competition within the free-trade area established by the Agreement;
- liberalize significantly conditions for investment within that free-trade area;
- establish effective procedures for the joint administration of the Agreement and the resolution of disputes;
CITEL: Telecommunications division of the OAS; The Inter-American Telecommunication Commission or Comisión Interamericana de Telecomunicaciones (CITEL) is an entity of the Organization of American States. It was originally created as the Inter-American Electrical Communication Commission at the Fifth International American Conference in May 1923.
COMESA: Common Market for Eastern & Southern Africa, is a preferential trading area with nineteen 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 (Djibouti, Egypt, Kenya, Madagascar, Malawi, Mauritius, Sudan, Zambia and Zimbabwe), with Rwanda and Burundi joining the FTA in 2004 and the Comoros and Libya in 2006.
COMESA is one of the pillars of the African Economic Community.
CTE:Committee on Trade and the Environment
Group, ministry, organization...etc to perform a function
CTG: Council for Trade in Goods
CVD: Countervailing Duties are duties imposed under WTO Rules to neutralize the negative effects of subsidies. They are imposed after an investigation finds that a foreign country subsidizes its exports, injuring domestic producers in the importing country. According to World Trade Organization rules, a country can launch its own investigation and decide to charge extra duties, provided such additional duties are in accordance with the GATT Article VI and the GATT "Agreement on Subsidies and Countervailing Duties".
DDA: Doha Development Agenda; Doha Development Round is the current trade-negotiation round of the World Trade Organization (WTO) which commenced in November 2001. Its objective is to lower trade barriers around the world, which allows countries to increase trade globally. As of 2008, talks have stalled over a divide on major issues, such as agriculture, industrial tariffs and non-tariff barriers, services, and trade remedies
DSB: Dispute Settlement Body; The Dispute Settlement Body (DSB) of the World Trade Organization (WTO) makes decisions on trade disputes between governments that are adjudicated by the Organization. Its decisions generally match those of the Dispute Panel.
DSU: Dispute Settlement Understanding; In 1994, the WTO members agreed on the Understanding on Rules and Procedures Governing the Settlement of Disputes or Dispute Settlement Understanding (DSU
The priority, however, is to settle disputes, through consultations if possible. By July 2005, only about 130 of the nearly 332 cases had reached the full panel process.
EU: European Union; The European Union (EU) is an economic and political union of 27 member states which are located primarily in Europe. Committed to regional integration, the EU was established by the Treaty of Maastricht in 1993 upon the foundations of the European Communities. With over 500 million citizens, the EU generated an estimated 28% share (US$ 16.5 trillion) of the nominal and about 21% (US$14.8 trillion) of the PPP gross world product in 2009.
EFTA: European Free Trade Association; The European Free Trade Association (EFTA) is a free trade organisation between four European countries that operates parallel to, and is linked to, the European Union (EU).EFTA was established on 3 May 1960 as a trade bloc-alternative for European states who were either unable to, or chose not to, join the then-European Economic Community (EEC) which has now become the European Union (EU). The Stockholm Convention, establishing EFTA, was signed on 4 January 1960 in Stockholm by seven countries.
To be continued...
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