|
|
Home
|
1 - 14 of 14 |
Afrocenter Glossary of Business Terms | |
| APEC Context is: trade term. See Asia-Pacific Economic Cooperation. | |
| ASEAN Context is: business term. Association of South East Asian Nations | |
| ASIA-PACIFIC ECONOMIC COOPERATION (APEC) Context is: trade term. ARTICLES III THROUGH XXIII. See Codes of Conduct. | |
| ASIAN ECONOMIC CRISIS Context is: trade term. ARTICLE II. See Concession. | |
| COUNTERTRADE (CT) Context is: trade term. Arrangements under which the sale of goods or services from one country to another are linked to sales in the opposite direction. Countertrade arrangements frequently characterize East-West trade. Such transactions include: Counterpurchase contracts that stipulate that the vendor must purchase goods from the importer equivalent in value to a specified percentage of the value of the exported goods; Reverse countertrade contracts that require an importer (a U.S. buyer of machine tools from Eastern Europe, for example) to export goods equivalent in value to a specified percentage of the value of the imported goods an obligation that can be sold to an exporter in a third country; Buy-back (or compensation) arrangements through which a company selling equipment, licenses, technology, or a turnkey plant agrees to accept in full or partial payment products manufactured with such equipment, licenses, technology, or plant; Clearing agreements between two countries that agree to purchase specific amounts of each other's products over a certain period of time, using a designated "clearing currency" in the transactions; Switch arrangements that permit the sale of unpaid balances in a clearing account to be sold to a third party, usually at a discount, that may be used for producing goods in the country holding the balance; Swap schemes through which products from different locations are traded to save transportation costs (for example, Russian oil may be swapped for oil from a Latin American producer, so the Russian oil is shipped to a country in South Asia, while the Latin American oil is shipped to Cuba); Barter arrangements through which two parties directly exchange goods deemed to be of approximately equivalent value without any flow of money taking place. See also Barter; East-West Trade; Nonmarket Economy; Offset Requirements; Tied Loan; Turnkey Contract. | |
| DEVELOPING COUNTRIES Context is: trade term. A broad range of countries that generally lack a high degree of industrialization, infrastructure, and other capital investment, sophisticated technology, widespread literacy, and advanced living standards among their populations as a whole. The developing countries are sometimes collectively designated as the Third World and sometimes as the South, because a large number of them are in the Southern Hemisphere. All of the countries of Africa (except South Africa), Asia (except Hong Kong, Singapore, South Korea, and Taiwan), and Oceania (except Australia, Japan, and New Zealand), Latin America, and the Middle East are generally considered developing countries, as are a few European countries (Cyprus, Malta, Turkey, Poland, and Hungary, for example). Some experts have identified four subcategories of developing countries as having different economic needs and interests: A few relatively wealthy OPEC countries sometimes referred to as oil-exporting developing countries share a particular interest in a financially sound international economy and open capital markets. Newly Industrializing Economies (NIEs) have a growing stake in an open international trading system. A number of middle-income countries principally commodity exporters have shown a particular interest in commodity stabilization schemes. Some 48 very poor countries (least developed countries) are predominantly agricultural, have sharply limited development prospects during the near future, and tend to be heavily dependent on official development assistance. See also ACP Countries; Additionality; Agency for International Development; Bilateral Aid; Caribbean Basin Initiative; Development Assistance Committee; Economic Cooperation Among Developing Countries; Economic Development; Enabling Clause; Enterprise for the Americas Initiative; Framework Agreement; Generalized System of Preferences; Global System of Trade Preferences; Graduation; Group of 77; International Finance Corporation; International Trade Center UNCTAD/WTO; Least Developed Countries; Lomé Convention; Multilateral Aid; Newly Industrializing Countries; Non-Aligned Movement; North-South Trade; Official Development Assistance; Paris Club; Part IV of the GATT; Public Law 480; Reciprocity; Reverse Preferences; Soft Loan; South-South Trade; Special and Differential Treatment; Structural Change; Substantial New Program of Action; Textiles; Transfer Payments; Tropical Products; United Nations Conference on Trade and Development; United Nations Development Program. | |
| ECONOMIC COOPERATION AMONG DEVELOPING COUNTRIES (ECDC) Context is: trade term. Attempts by developing countries, especially the Group of 77, to increase South-South trade and other economic relationships among themselves. See also Andean Pact; Asia-Pacific Economic Cooperation; Developing Countries; Global System of Trade Preferences; Group of 77; MERCOSUR; Newly Industrializing Countries; Non-Aligned Movement; Preferences; South-South Trade; United Nations Conference on Trade and Development. | |
| GROUP OF 77 Context is: trade term. Originally, the 77 developing countries represented at UNCTAD-I in 1964. The delegates established the precedent of meeting together to attempt to develop common positions on major conference agenda items in advance of plenary UNCTAD meetings. The Group of 77 comprises UNCTAD Groups A (the African and Asian groups, with the notable exceptions of Israel and South Africa) and C (the Latin American group). As of 1999, 132 developing countries were members of the Group of 77, which seeks to develop common positions on trade and development issues under consideration in UNCTAD and other United Nations bodies. See also Developing Countries; Global System of Trade Preferences; Group D; Non-Aligned Movement; North-South Trade; South-South Trade; United Nations Conference on Trade and Development. | |
| LEAST DEVELOPED COUNTRIES (LLDCs or LDCs) Context is: trade term. Some 48 of the world's poorest countries, considered by the United Nations to be the "least developed" of the less developed countries. Most of them are small in terms of area and population, and some are land-locked or small island countries. They are generally characterized by low per capita incomes, low literacy levels and medical standards, subsistence agriculture, and a lack of exploitable minerals and competitive industries. Many suffer from aridity, floods, hurricanes, or excessive animal and plant pests, and most are situated in the zone 10 to 30 degrees north latitude. These countries have low prospect of rapid economic development in the foreseeable future and are likely to remain dependent upon official development assistance for many years. Most are in Africa, but a few are in Asia, the Pacific, and the Western Hemisphere. The abbreviation "LDCs" has increasingly been used in recent years to refer to the least developed countries (although in the 1950s and 1960s, the term "less developed countries" was more or less interchangeable with the term "developing countries"). See also Developing Countries; General Agreement on Tariffs and Trade; International Development Association; Official Development Assistance; Part IV of the GATT; Reciprocity; Soft Loan; Special and Differential Treatment; Substantial New Program of Action; Transit Zone. | |
| MULTILATERAL AID Context is: trade term. Development assistance given by donors to recipient countries through international institutions. See also Additionality; Asia-Pacific Economic Cooperation; Bilateral Aid; Developing Countries; Development Assistance Committee; Economic Development; Framework Agreement; General Agreement on Tariffs and Trade; Generalized System of Preferences; Inter-American Development Bank; International Finance Corporation; International Trade Center UNCTAD/WTO; Multilateral Investment Guarantee Agency; Official Development Assistance; Organization for Economic Cooperation and Development; Part IV of the GATT; Special and Differential Treatment; Tokyo Declaration; Tokyo Round; United Nations Conference on Trade and Development; United Nations Development Program; Uruguay Round; World Bank; World Trade Organization. | |
| NON-ALIGNED MOVEMENT (NAM) Context is: trade term. A loose coalition of developing countries that met at the head-of-state level every few years between the 1950s and the 1980s in an attempt to coordinate positions on international political and economic issues. The movement traces its conceptual foundations to the Asian-African Conference at Bandung in 1955, under the inspiration of India (Nehru), Egypt (Nasser), and Yugoslavia (Tito). The first NAM summit conference took place in Belgrade in 1961; the second in Cairo in 1964; the third in Lusaka in 1970; the fourth in Algiers in 1973; the fifth in Colombo in 1976; the sixth in Havana in 1980; and the seventh in New Delhi in 1983. The member countries now meet under the auspices of the Group of 77. See also Developing Countries; Economic Cooperation Among Developing Countries; Economic Development; Global System of Trade Preferences; Group D; Group of 77; North-South Trade; Organization of Petroleum Exporting Countries; South-South Trade; United Nations Conference on Trade and Development. | |
| PACIFIC RIM Context is: trade term. An informal, flexible term that generally has been regarded as a reference to countries and economies bordering the Pacific Ocean. At a minimum, the Pacific Rim includes Canada, Japan, the People's Republic of China, Taiwan, and the United States. It may also include Australia, Brunei, Cambodia, Hong Kong/Macau, Indonesia, Laos, North Korea, South Korea, Malaysia, New Zealand, the Pacific Islands, the Philippines, Russia (or the Commonwealth of Independent States), Singapore, Thailand, and Vietnam. As an evolutionary term, it also sometimes includes Mexico, the countries of Central America, and the Pacific coast countries of South America. See also Asia-Pacific Economic Cooperation (APEC). | |
| SOUTH-SOUTH TRADE Context is: trade term. Trade between developing countries. See also Andean Pact; Asia-Pacific Economic Cooperation; Economic Cooperation Among Developing Countries; Global System of Trade Preferences; Group of 77; MERCOSUR; Non-Aligned Movement; Preferences; United Nations Conference on Trade and Development. | |
| TROPICAL PRODUCTS Context is: trade term. Traditionally, agricultural goods of export interest to developing countries in the tropical zones of Africa, Latin America, and East Asia, such as coffee, tea, spices, natural rubber, palm oil, bananas, and tropical hardwoods. See also Commodity; ACP Countries; Caribbean Basin Initiative; Common Fund; Forward Market; Integrated Program for Commodities; International Commodity Agreement; Lomé Convention; North-South Trade; Primary Commodity. | |
End of Records |
