Trade Acronyms - 5
MOSS: Market-Oriented, Sector-Selective, were held between the United States and Japan in 1984. Topic were trade frictions on four product areas: forest products, telecommunications equipment and services, electronics, and pharmaceuticals and medical equipment. The talks were aimed at routing out all overt and informal barriers to imports in these areas, especially on the Japanese side. The negotiations lasted throughout 1985 and achieved modest success. MOU: Memorandum of Understanding is a document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action. It is often used in cases where parties either do not imply a legal commitment or in situations where the parties cannot create a legally enforceable agreement. It is a more formal alternative to a gentlemen's agreement. MRA: Mutual Recognition Agreement is an international agreement by which two or more countries agree to recognize one another's conformity assessments. A mutual recognition arrangement is an international arrangement based on such an agreement. NAFTA: North American Free Trade Agreement is an agreement signed by the governments of Canada, Mexico, and the United States, creating a trilateral trade bloc in North America. The agreement came into force on January 1, 1994. It superseded the Canada-United States Free Trade Agreement between the U.S. and Canada. In terms of combined purchasing power parity GDP of its members, as of 2007[update] the trade bloc is the largest in the world and second largest by nominal GDP comparison. NAMA: Non-Agricultural Market Access; The Non-Agricultural Market Access (NAMA) negotiations are based on the Doha Declaration of 2001 that calls for a reduction or elimination in tariffs, particularly on exportable goods of interest to developing countries.
NAMA covers manufacturing products, fuels and mining products, fish and fish products, and forestry products. These products are not covered by the Agreement on Agriculture or the negotiations on services.
The WTO considers the NAMA negotiations important because NAMA products account for almost 90% of the world's merchandise exports.
NEC: National Economic Council; The National Economic Development Council (NEDC) was a corporatist economic planning forum set up in the 1962 in the United Kingdom to bring together management, trades unions and government in an attempt to address Britain's relative economic decline. It was supported by the National Economic Development Office (NEDO).
NIS: Newly Independent States; The post-Soviet states, also commonly known as the Former Soviet Union (FSU) or former Soviet republics, are the 15 independent nations that split off from the Union of Soviet Socialist Republics in its breakup in December 1991. They were also referred to as the Newly Independent States (NIS), not withstanding that the Baltic states consider themselves to have resumed their pre-World War II sovereignty upon their separation from the Soviet Union
NSC: National Security Council; is usually an executive branch governmental body responsible for coordinating policy on national security issues and advising chief executives on matters related to national security. An NSC is often headed by a national security advisor and staffed with senior-level officials from military, diplomatic, intelligence, law enforcement and other governmental bodies. The functions and responsibilities of an NSC at the strategic state level are different from those of the United Nations Security Council, which is more of a diplomatic forum
NTR: Normal Trade Relations; The status of permanent normal trade relations (PNTR) is a legal designation in the United States for free trade with a foreign nation. In the U.S. the name was changed from most favored nation (MFN) to PNTR in 1998.
In international trade, MFN status (or treatment) is awarded by one nation to another. It means that the receiving nation will be granted all trade advantages — such as low tariffs — that any other nation also receives. In effect, a nation with MFN status will not be discriminated against and will not be treated worse than any other nation with MFN
... To be continued
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