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ACP (African, Caribbean, and Pacific) Countries.A group of developing countries with preferential trade and financial ties to the European Community; see entry under same heading in Section I. Includes Angola, Antigua and Barbuda, The Bahamas, Barbados, Belize, Benin, Botswana, Burkina, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Comoros, Congo, Cote d'Ivoire, Djibouti, Dominica, Dominican Republic, Equatorial Guinea, Ethiopia, Fiji, Gabon, The Gambia, Ghana, Grenada, Guinea, Guinea-Bissau, Guyana, Haiti, Jamaica, Kenya, Kiribati, Lesotho, Liberia, Madagascar, Malawi, Mali, Mauritania, Mauritius, Mozambique, Namibia, Niger, Nigeria, Papua New Guinea, Rwanda, St Kitts and Nevis, St Lucia, St Vincent and the Grenadines, Sao Tome and Principe, Senegal, Seychelles, Sierra Leone, Solomon Islands, Somalia, Sudan, Suriname, Swaziland, Tanzania, Togo, Tonga, Trinidad and Tobago, Tuvalu, Uganda, Vanuatu, Western Samoa, Zaire, Zambia, and Zimbabwe.
Advisory Committee on Trade Policy and Negotiations (ACTPN). The highest-level group in the private sector advisory system established by Congress to ensure that US trade policy and negotiating objectives reflect US commercial and economic interests. The 45 ACTPN members, appointed by the President to two-year terms, are responsible for considering trade policy issues in the context of the overall national interest.
Agency of Industrial Science and Technology (AIST). An agency of Japan's Ministry of International Trade and Industry (MITI}, responsible for promoting a range of technologies that are under the jurisdiction of the trade ministry .AIST currently operates 15 research institutes, conducts in-house research, and sponsors research programs to encourage private-sector technology development.
Agriculture Policy Advisory Committee (APAC). A policy-level committee that forms part of the private sector advisory system established by Congress to ensure that US trade policy and negotiating objectives reflect US commercial and economic interests. The AP AC and the individual agriculture technical advisory committees (ATACs) provide policy advice and technical expertise on bilateral and multilateral agriculture negotiations. Members are appointed by the USTR in conjunction with the Secretary of Agriculture. The counterpart committee in the industrial sector is the IP AC . See also ACTPN.
Agriculture Technical Advisory Committee (AT AC). One of more than 30 technical, sectoral, and functional committees forming part of the private sector advisory system established by Congress to ensure that US trade policy and negotiating objectives reflect US commercial and economic interests. ATACs are subordinate to the AP AC and represent individual farm commodity groups, providing specific, often highly technical advice concerning the likely effects of trade policy decisions or negotiating concessions on the sector. ATAC members are appointed jointly by the USTR and the Secretary of 1 Included in this Section are existing and prospective regional b"ade arrangements including common markets, customs unions, free ttade areas, preferential arrangements, and regional cooperation organizations. For distinguishing characteristics of these various forms, see discussion under the respective headings in Section I.
Agriculture. Counterpart committees in the industrial sector are known as ISACs. See alsoIFACs.
American Enterprise Institute for Public Policy Research. A research and educational organization, based in Washington, DC, specializing in monetary , tax, trade, and regulatory policy issues.
Andean Pact (Andean Subregional Integration Agreement). A regional cooperation organization including Bolivia, Colombia, Ecuador, Peru, and Venezuela. Chile was a founding member, but withdrew in 1976. Members began serious efforts to reduce intra-regional trade barriers only in 1991. Colombia and Venezuela liberalized bilateral trade and adopted a common external tariff in January 1992, creating the Colombia- Venezuela Customs Union. Agreement was signed in March 1993 among all members except Peru to establish a customs union by January 1994, with special treatment for Bolivia and Ecuador in implementing a common external tariff.
Arab Common Market (ACM). A moribund common market including Egypt, Iraq, Jordan, Libya, Mauritania, Syria, and Yemen, founded in 1964. The ACM trade provisions have been largely unimplemented.
Arab Mahgreb Union (AMU). A moribund common market including Algeria, Libya, Mauritania, Morocco, and Tunisia. founded in 1989. Negligible progress toward AMU trade integration in has been achieved.
Asia Pacific Economic Cooperation (APEC). A regional cooperation organization including Australia, Brunei. Canada. China, Hong Kong. Indonesia, Japan. Malaysia, New Zealand, Philippines, Singapore, South Korea, Taiwan, Thailand, and the United States. Objectives include consultation and cooperation on a broad range of economic and trade-related policies, and promotion of trade liberalization among members in a GATT -consistent manner. APEC ministerial meetings have been held since November 1989; 10 working groups and two informal groups are currently in operation. The September 1992 Bangkok Declaration established APEC's institutional structure. APEC became legally established January 1993, with its permanent secretariat based in Singapore.
Association Francaise de Normalisation (AFNOR). France's industrial standards authority.
Association of Coffee Producing Countries (ACPC) or Asociacion Mundial de Paises Productores de Cafe (AMPC). A prospective international commodity organization (Sec. I). Following collapse of the export quota system of the International Coffee Organization and faltering efforts to negotiate a new International Coffee Agreement with consuming countries, the major coffee producing countries in Latin America, Africa, and Asia --representing about 80 percent of world production --agreed in September 1993 to form the ACPC, a producer cartel that would withhold 20 percent of production from the world market in order to buoy prices.
Association of Natural Rubber Producing Countries. An international commodity organization (Sec. I) established in 1970 to coordinate production and marketing of natural rubber. The International Natural Rubber Agreement on Price Stabilization was signed in 1976 by five member countries. Current members are India, Indonesia, Malaysia, Papua New Guinea, Singapore, Sri Lanka, and Thailand, which together account for about 90 percent of world supply. The organization is based in Kuala Lumpur, Malaysia. See also International Natural Rubber Organization.
Association of South East Asian Nations (ASEAN). A regional cooperation organization and prospective free trade area including Brunei, Indonesia, Malaysia, Philippines, Singapore, and Thailand. It was founded in 1967. Objectives include regional economic integration and policy coordination, and industrial cooperation and promotion. Negotiations were launched in 1992 on liberalizing trade among members within 15 years under rubric of the ASEAN Free Trade Area (AFTA); ASEAN Ministers in October 1992 established a seven- to 10-year timetable for cutting tariffs on 15 product groups, with initial cuts to go into effect during 1993. Previous ASEAN free trade agreements were repeatedly postponed; tariff preferences currently play only a minimal role in intra-regional trade. Negligible progress has been made in achieving industrial cooperation. ASEAN has been more successful in achieving coordinated positions in discussions and negotiations with non-member countries on economic and security issues.
Atlantic Council. A private, nonprofit organization that conducts studies and makes recommendations on international economic issues in the Atlantic and Pacific communities. The Council is based in Washington, DC.
Auswartiges Amt. Germany's foreign ministry .
Balance of Payments Committee. See Committee on Balance-of-Payments Restrictions.
Baltic Free Trade Area. A prospective free trade area linking Estonia, Latvia, and Lithuania. Objectives include elimination of customs duties and quotas on intra-regional trade; a moratorium on introduction of new export restrictions; and cessation of state aid or other actions that distort competition among enterprises in the Baltic republics. The agreement to establish the Ff A was signed by prime ministers in September 1993; ratification is pending.
Berne Union. Formal name is the Union d' Assureurs des Credits Internationaux, or International Union of Credit and Investment Insurers. An association of public and I private financial institutions established in 1934 to establish uniform criteria and standards for export credit insurance. See export credits and Export Credits Arrangement (Sec. I).
Black Sea Economic Cooperation (BSEC). A regional cooperation organization including Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. Objectives include expansion of mutual trade through gradual removal of trade barriers; sectoral cooperation in several areas including agriculture, transportation, and product standardization and certification; and eventual creation of a foreign trade and investment bank. The BSEC Declaration was signed by heads of state in June 1992; implementation details are currently being negotiated.
BOP Committee. See Committee on Balance-of-Payments Restrictions.
Brookings Institution. An independent research organization, founded in 1927, specializing in economics, government, foreign policy, and the social sciences. It is based in Washington, DC.
Bundesamt fur Wirtschaft (BAW). German agency responsible for supervising exports of dual-use goods (Sec. II).
Bundesverband der Deutschen Industrie (BDI). German employers' council, roughly equivalent to the US National Association of Manufacturers. Along with the Deutscher Industrie- und Handelstag (DIHT), BDI leaders confer with German officials on ttade policy issues, and the associations' staffs conduct economic and business research.
Bundesministerium fur Finanzen (BMF). Germany's finance ministry .Sometimes referred to as Bundestinanzministerium (BFM)
Bundesministerium fur Wirtschaft (BMWi). Germany's economics ministry.
The Business Roundtable. An association of chief executives of leading US corporations, headquartered in New York City. The Business Roundtable sponsors conferences and reports on issues of concern to business, including taxation, antitrust, international trade, employment policy, and the federal budget.
Cairns Group. A negotiating group of agriculturai exporting countries formed to support agricultural trade reform in GATT. The group advocates the systematic reduction of farm subsidies and import barriers. Informally led by Australia, members include Argentina, Brazil, Canada, Chile, Colombia, Fiji, Hungary , Indonesia, Malaysia, New Zealand, Philippines, Thailand, and Uruguay. The group takes its name from the site of early meetings in the Australian resort town of Cairns.
Caribbean Community and Common Market (CARICOM). A customs union including Antigua and Barbuda, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, Montserrat, St. Kins and Nevis, St. Lucia, St Vincent and the Grenadines, and Trinidad and Tobago; the Bahamas is part of the Caribbean Community but not of the Common Market. CARICOM was founded in 1973, superseding the Caribbean Free Trade Agreement. or CARIFTA. The CARICOM Summit in November 1992 set a common external tariff at 45 percent on most manufactured products, to be lowered to 20 percent by 1998; Antigua-Barbuda, Belize, Montserrat, St. Kitts-Nevis, and St. Lucia were authorized delayed implementation schedules.
Carpathian Euroregion. A regional cooperation organization established in February 1993 among Hungary , Poland, Slovakia, and Ukraine to facilitate trade and promote infrastructure development in the Carpathian region.
Center for Strategic and International Studies (CSIS). A nonprofit research organization founded in 1962 to conduct analyses of international issues on an interdisciplinary basis. CSIS was originally affiliated with Georgetown University and is based in Washington, DC.
Center for the Study of Public Choice. A nonprofit organization to promote research in public choice, an interdisciplinary approach to the study of the relationship between economic and political institutions. Its interests include trade protection and regulation, in addition to public finance, constitutional economics, federalism and local government, .and econometrics. The Center is affiliated with George Mason University and is located
in Fairfax, Virginia.
Central African Customs and Economic Union or Union Douaniere et Economique de I' Afrique Centrale (UDEAC). A customs union including Cameroon, Central African Republic, Chad, Congo, Equatorial Guinea, and Gabon. It was founded in 1963, superseding the Equatorial Customs Union. Objectives include intra-regional trade liberalization; adoption of a common external tariff; creation of a common investment code; and economic policy harmonization and factor mobility cooperation. Liberalization objectives have largely not been met; members continue to apply varying external tariff rates despite official adoption of a common external tariff.
Central American Common Market (CACM) or Mercado Comun Centroamericana (MCCA). A customs union including Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua; Belize and Panama participate in CACM summits, but do not participate fully in regional trade integration. CACM was founded 1960 and revised June 1991; a common external tariff established in 1986 but is not effective in all members.
Central European Free Trade Agreement (CEFTA). A regional cooperation organization and prospective free trade area including the Czech Republic, Hungary , Poland, and Slovakia. Objectives include regional coordination and cooperation following the collapse of CEMA, to help offset members' current difficulties competing in Western markets and to help pave the way for eventual EC accession. Elimination of barriers to trade among participants in industrial products is to be phased over an eight- year transition period. The CEFTA agreement signed in December 1992 covered 25 percent of intra-group trade initially, to be increased to 85 percent within four years. Under the rubric of the Visegrad Group or Trojkat, the group functioned principally as a mechanism for cooperation on security and other non-trade issues and for promoting ..integration into Western political and economic structures.
Central European Initiative (CEI). A regional cooperation organization including Austria, Bosnia-Herzegovina, Croatia, Czech Republic, Hungary, Italy, Macedonia, Poland, Slovakia, and Slovenia; the German states of Bavaria and Baden- Wtintemberg participate in transport working groups; Ukraine, Belarus, Romania, and Bulgaria have applied for membership. Formerly known as the Pentagonal Group when five members (Austria, Czechoslovakia, Hungary, Italy, and the former Yugoslavia) belonged, and subsequently as the Hexagonal Group after Poland joined.
Centre d'Etudes Prospectives et d'lnformations Internationales (CEPII). France's center for forecasting and international information, a government-staffed research organization affiliated with the Planning Commission. CEPII conducts studies on global economic and financial issues and publishes data on industrial structures.
Centre for Economic Performance (CEP). A British research institute funded by the government as well as by private-sector contributions. CEP prepares economic studies for the general business community as well as government ministries.
Centre for Economic Policy Research (CEPR). A British research institute specializing in international trade and macroeconomics.
Centre Francais du Commerce Exterieur (CFCE). France's Board of Foreign Trade.
Chaebols. South Korea's industrial conglomerates. The four largest chaebols are Hyundai, Samsung, Lucky-Goldstar, and Daewoo.
Chancellery. The office of Germany's Chancellor (prime minister). CIS. See Commonwealth of Independent States.
CIS Economic Union. A prospective customs union among most members of the Commonwealth of Independent States, intended to restore economic ties that were broken following the demise of the Soviet Union in 1991. Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, and Uzbekistan signed a framework accord in September 1993, pledging to establish a customs union and to coordinate monetary and credit policies. Turkmenistan and Ukraine, which did not sign the accord, declared their intention to become "associated members" of the union. Uniform regulations on cross-border shipment of private goods are under negotiation.
COCOM (Coordinating Committee for Multilateral Export Controls). A working group of 16 nations established to monitor exports of strategic goods --especially high- technology products --to potentially hostile countries. The members are Belgium, Canada, Denmark, France, Germany, Greece, Italy, Japan, Luxembourg, Netherlands, Norway, Portugal, Spain, Turkey, the United Kingdom, and the United States. See COCOM List (Sec. I).
Codex Alimentarius Commission. An organization established in 1963 by the Food and Agriculture Organization in conjunction with the World Health Organization to establish international standards for raw and processed food products. See Codex ~ Alimentarius and sanitary and phytosanitary standards (Sec. I).
Colombia-Venezuela Customs Union. See Andean Pact.
Commission on International Commodity Trade. A UN specialized agency established in 1954 to monitor activities in primary commodity markets.
Committee on Balance-of-Payments Restrictions (BOP Committee). A GATT standing committee responsible for authorizing and monitoring temporary import restrictions imposed by GA TT members to deal with balance-of-payments problems.
Committee on Foreign Investment in the United States (CFIUS). A US government inter-agency committee established in 1975 to monitor the impact of foreign investment in the United States. With the passage of the Exon-Florio Amendment (Sec. Ill) in 1988, CFIUS was given authority to review and recommend action against mergers, acquisitions, and takeovers that place US assets under foreign control. CFIUS is chaired by the Treasury Department and is represented at the Assistant Secretary level by the Departments of Commerce, State, Defense, and Justice, and by the Office of the Management and Budget, the Council of Economic Advisers, the Office of the US Trade Representative, the Office of Science and Technology Policy, the National Security Advisor, and the Assistant to the President for Economic Policy.
Committee of Permanent Representatives. See COREPER.
Committee on Tariff Concessions. A GATT standing committee that reviews the results of tariff negotiations and oversees implementation of the agreements.
Committee on Trade and Development (CTD). A GATT standing committee responsible for monitoring and discussing the ways in which trade measures affect the economic and social advancement of LDC members.
Commodity Credit Corporation (CCC). A federally chartered corporation administered as pan of the US Department of Agriculture. CCC is responsible for programs to stabilize, support, and protect farm income and prices; to assist in the maintenance of adequate supplies of foodstuffs, feeds, and fibers; and to facilitate orderly distribution of agricultural commodities. CCC also administers three foreign sales promotion programs.
Commonwealth of Independent States (CIS). An organization of II countries -- including all former Soviet republics except Georgia and the Baltic states --established by the Alma-Ata Declaration of December 1991 to coordinate intercommonwealth relations and to provide a mechanism for the orderly dissolution of the USSR. The agreement pledged cooperation in forming and developing a united economic area and a common customs policy, and established the city of Minsk as the official location of the CIS coordinating bodies. Members include Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan. Georgia, which became an "associated member" of the CIS in September 1993, declared its intention to become a full member of the Commonwealth. See also CIS Economic Union.
Compagnie Francaise d' Assurance pour le Commerce (COFACE). France's export credit guarantee agency.
The Conference Board. An organization of senior executives from various industries worldwide that sponsors conferences and reports on national and international economic issues and business management. It is based in New York City.
Conseil National du Patronat Francais (CNPF). See Patronat.
Confederation of British Industry (CBI). British employers' council, roughly equivalent to the US National Association of Manufacturers.
Coordinating Committee for Multilateral Export Controls. See COCOM .
COREPER (Committee of Permanent Representatives). A key group in the decision making process of the European Community, comprising member-state ambassadors accredited to the EC. COREPER is responsible for preparatory work for meetings of the EC Council of Ministers; works to resolve policy differences between the
.Council and the EC Commission; and serves as liaison between member-state governments and EC institutions. The committee operates at two levels (both of which meet weekly except during August): COREPER 1 consists of deputies to ambassadors; COREPER 2 comprises ambassadors, and usually handles more sensitive political questions.
Council of Baltic Sea States (CBSS). A regional cooperation organization including Denmark, the EC Commission, Estonia, Finland, Germany, Latvia, Lithuania, Norway, Poland, Russia, and Sweden; Belarus and Ukraine are observers. Objectives include economic assistance and cooperation; assistance to new democratic institutions; environmental protection; energy cooperation; humanitarian matters and health; and cooperation on transport and communication, culture, education, tourism, and information. The CBSS Declaration was signed by members' foreign ministers in March 1992.
Council of Europe. An association of 21 European countries formed in 1949 to identify areas of common interest and provide a forum for the articulation of European unity. The Council's headquarters is Strasbourg, France.
Council on Foreign Relations. A nonprofit, privately funded organization devoted to promoting improved understanding of international affairs through research, conferences, and publications. The Council is based in New York City.
Council on Mutual Economic Assistance (CEMA, CMEA or COMECON). Formed in 1949, CEMA was a Soviet-Ied economic community of Communist nations. Members included the Soviet Union, Poland, East Germany, Czechoslovakia, Hungary, Romania, Bulgaria, Mongolia, Vietnam, and Cuba. CEMA trade patterns were based on long-term state agreements --primarily involving barter exchanges of East European industrial and consumer products for Soviet energy and raw materials --that fixed prices far in advance and recorded payments in nonconvertible transferable rubles. CEMA members decided in March 1991 to disband the organization.
Court of International Trade. A US Federal Court (formerly the Court of Tariff Appeals) that hears appeals from proceedings under US trade laws.
Customs Cooperation Council (CCC). A multilateral organization headquartered in Brussels, in which customs officials from participating countries meet to simplify and standardize customs procedures and techniques of member countries. The organization is concerned with the mechanics of customs administration and is not involved in matters relating to tariff levels or questions of trade policy. The CCC provides a technical committee to GA 1T to ensure uniformity in the application of GATT Article 7 and other rules concerning customs valuation (Sec. I). The Harmonized System (Sec. I) was negotiated in the CCC. See also Kyoto Convention (Sec. I).
Czech-Slovak Customs Union. A customs union linking the Czech Republic and Slovakia, intended to preserve trade relations between the two states following the dissolution of Czechoslovakia. In addition to traditional trade-policy topics, coverage extends to services and intellectual property protection. The agreement on formation of the customs union was approved by the republic parliaments in November 1992, and took .effect in January 1993.
Defense Policy Advisory Committee on Trade (DPACT). A policy-Ievel committee that funds part of the private sector advisory system established by Congress to ensure that US trade policy and negotiating objectives reflect US commercial and economic interests. The DP ACT provides advice on defense trade issues --including defense export policies and the defense industrial base --related to bilateral and multilateral trade negotiations. DPACT members are appointed by the USTR in conjunction with the Secretary of Defense.
Deutscher Industrie-und nandelstag (DInT). Germany's industry and trade council, an umbrella organization for local chambers of commerce. Along with the Bundesverband der Deutschen Industrie, DIHT leaders confer with German officials on trade policy issues; the associations' staffs conduct economic and business research.
Direction des Relations Economiques Exterieures (DREE). France's foreign economic relations directorate. Formally subordinate to the Ministry of Industry and Foreign Trade, the DREE has traditionally had the lead in developing French trade policy. It is also responsible for export promotion..
Directorates-General (DGs). Functional bureaus of the EC Commission staff. The 23 DGs are designated by roman numerals; among the more important for economic and trade policy are:
DG I --External relations and commercial policy
DG II --Macroeconomics, monetary affairs
DG IV --Competition, cartels, state aids
DG VI --Agriculture
DG XI --Environment, consumer protection, nuclear safety
DG XIII --Telecommunications, information technology
DG XV --Financial services, company law
DO XXI --Customs unions, indirect taxation
Directorate-General des Strategies Industrielles (DGSI). France's directorate of industrial strategies, part of the Ministry of Industry and International Trade.
Downing Street (No.10). The office of Britain's Prime Minister.
East Asia Economic Caucus (EAEC). A Malaysian-proposed consultative group, including the ASEAN members, China, Hong Kong, Japan, South Korea, Taiwan, and Vietnam, intended to serve as a forum for coordinating positions in trade relations and negotiations with countries outside the region. Apart from Malaysia, the interest of other East Asian countries in EAEC is unclear; ASEAN foreign ministers decided in July 1993 that the caucus could be a sub-group within APEC, but stopped short of formally endorsing EAEC.
Economic Community of Central African States or Communaute Economique des Etats de I' Afrique Centrale (CEEAC). A customs union including Burundi, Cameroon, Central African Republic, Chad, Congo, Equatorial Guinea, Gabon, Rwanda, Sao Tome and Principe, and Zaire, founded in 1983. Objectives include expansion of intra-regional trade; adoption of a common external tariff; and establishment of a regional common market by 2000. Only limited progress has been achieved, as ttade among members is hindered by poorly developed trade financing and by the existence of five separate, mostly non-convertible currencies within the region.
Economic Community of Great Lakes Countries or Communaute Economique des Pays des Grands Lacs (CEPGL). A free trade area including Burundi, Rwanda, and Zaire, founded in 1976. Objectives include promotion of economic cooperation and development; reduction of tariffs on intra-group trade; free factor mobility; and joint industrial projects. An accord on customs and preferential tariffs was signed but not implemented. Some progress in cooperation on power generation has been achieved.
Economic Community of West African States (ECOWAS) or Communaute Economique des Etats de l' Afrique de l'Ouest (CEDEAO). A customs union including Benin, Burkina Paso, Cape Verde, Equatorial Guinea, Ivory coast, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Mauritania, Niger, Nigeria, Senegal, Sierra Leone, and Togo, founded in 1975. Objectives include phased elimination of tariffs and nontariff restrictions on intra-regional trade in manufactured goods; liberalization of intra-regional ttade in agriculture; establishment of a common external tariff; removal of restrictions on the movement of capital, services, and labor; harmonization of agricultural and industrial policies; and creation of a monetary union. Inconsistency of members' commercial policies --due in part to membership ~n other preferential trading arrangements --has contributed to negligible progress in the reduction of intra-regional trade barriers. The common external tariff was not implemented in 1990 as scheduled. Some progress in telecommunications and transport cooperation has been achieved.
Economic Cooperation Organization (ECO). A regional cooperation organization including Afghanistan, Azerbaijan, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkey, Turkmenistan, and Uzbekistan. Objectives include bilateral trade promotion and cooperation in industrial planning; the February 1992 ECO Summit referred to the goal of eventual creation of an Islamic Common Market. It was founded in 1964 as the Regional Cooperation for Development (RCD) linking Iran, Pakistan, and Turkey; it came to a standstill after the Iranian revolution in 1979 but was not formally dissolved. Following Iranian initiatives in 1984, some cooperative projects were discussed under the heading of the ECO. Five Central Asian CIS republics joined the ECO at the Tehran Summit in February 1992; Kazakhstan and Afghanistan joined in November 1992.
Economic Strategy Institute. A private organization based in Washington, DC, that conducts studies and makes policy recommendations on domestic and international economic issues, industrial and technological developments, and global security issues.
Elysee. The office of the French Presidency. .
European Community (EC). (Previously known as the European Economic Community, or EEC; the term "European Communities" referred to the collectivity of the EEC, the European Coal and Steel Community, and Euratom.) A common market established in 1958 by the Treaty of Rome ( Sec. I) , which linked France, West Germany, Italy, Belgium, the Netherlands, and Luxembourg. Subsequently the United Kingdom, .Ireland, Denmark, Greece, Spain, and Portugal became member states, bringing the current membership to 12. Some of the purposes of the EC are the elimination of tariffs and other restrictions on trade between member states; maintenance of a common external tariff toward other countries; free movement of labor and capital among member states; and establishment of a common agricultural policy (Sec. I). In accordance with Article 113 of the~ Treaty of Rome, the EC acts for the member states on matters of trade policy and represents them in GA TT discussions and negotiations.
EC Commission. The "executive branch" of the European Community, which is responsible for carrying out policies approved by the EC Council of Ministers, conducting trade negotiations with non-EC countries, enforcing antitrust rules, and reducing state subsidies that distort trade among member states. It is the sole initiator of EC policy proposals. The Commission, based in Brussels, is headed by 17 commissioners, all nominated to four-year terms by their respective governments; France, Germany, Italy, Spain, and the United Kingdom each nominate two commissioners, while the other seven member states are allotted one commissioner each. From among the 17 members, the Commission president is chosen by the heads of government of t4e EC member states; the Commission president then assigns each commissioner a portfolio of issues. The commissioners direct the work of 16,000 civil servants (often referred to as "Eurocrats") who staff 23 functional units called Directorates-General (DGs).
EC Council of Ministers. The primary decision-making body of the European Community in which member states are directly represented. Although the Council is a single legal entity ' it takes different forms comprising different individuals as members:
The Council of Ministers is empowered to use a form of weighted voting2 on most issues, although decisions by consensus are strongly preferred. Except in areas of intergovernmental cooperation not covered by the Treaty of Rome, the Council must wait 2 Known as "qua1ifying majority voting," the system allows 10 votes each to Germany, France, Italy, and the United Kingdom; 8 votes to Spain; 5 votes each to Belgium, Greece. Netherlands, and POrttlga1; 3 votes each to Denmark and Ireland; and 2 votes to Luxembourg. A qualified majority consists of 54 of the total 76 votes; thus. 23 votes are needed for a "blocking minority ." for a proposal from the EC Commission before it can take action. The office of Council President rotates on a modified alphabetic basis among the member states for terms of six months, and is commonly referred to as the I'EC Presidency. II The Council of Ministers - -and its supporting General Secretariat staff of about 2,000 --are based in Brussels, but during April, June, and October its meetings are held in Luxembourg. Several standing committees support or report directly to the Council, including the Committee of .Permanent Representatives (COREPER), the One-Thirteen Committee, the Special Committee on Agriculture, and the Monetary Committee.
European Council. The semiannual summit meeting of EC leaders, which functions as the supreme level of decision making in the Community .As such, it is distinct from the EC Council of Ministers, which prepares its agenda. Each member state is represented by its prime minister except for France, which is represented by its president. European Council meetings last two or three days, and are hosted by the country currently holding the presidency of the Council of Ministers.
European Court of Justice. As the" judicial branch" of the European Community , the Court is responsible for interpreting the scope of Community jurisdiction. Precedent has established that Community law as interpreted by the Court takes precedence over national law of the member states. The Court exercises jurisdiction primarily over requests made by national courts for interpretations of EC treaties; cases brought against member states for failing to apply EC law; and cases initiated against decisions made by Community institutions. The Court, which sits in Luxembourg, is made up of 13 judges and six advocates-general, appointed for six-year renewable terms by mutual consent of the EC member states.
European Economic Area (EEA). A prospective free trade area including Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Liechtenstein, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, and the United Kingdom Objectives include establishment of a homogeneous economic area with free movement of goods, services, capital, and labor under equal competitive conditions; extension of the provisions of the EC Single Market program (EC-92) to EFTA members; and harmonization of technical standards. The EEA agreement was signed in May 1992 and is currently undergoing ratification by participants; ratification by Switzerland was rejected in a December 1992 plebiscite.
European Free Trade Association (EFTA). A free trade area including Austria, Finland, Iceland, Liechtenstein, Norway, Sweden, and Switzerland. EFTA was established by the Stockholm Convention of 1960 to liberalize trade in industrial products without the political implications of a customs union; free trade in most industrial products has existed among EFTA members since 1977. All EFTA members signed individual free trade agreements with the European Community in 1972-73.
European Parliament. The deliberative body of the European Community, having authority to review policy proposals of the EC Commission and the EC Council of Ministers. While the Parliament shares budgetary authority with the Council of Ministers, it does not have full budgetary oversight powers, nor does it have the right to initiate legislation. The 518 members of the European Parliament (MEPS)3 are organized into cross-national political groups, and the leaders of these groups are also included in planning parliamentary sessions. The Parliament's 19 standing committees examine proposals for legislation put forward by the Council of Ministers. A Secretary-General and a Secretariat of about 3,000 staff the Parliament's administrative headquarters in Luxembourg; it holds plenary sessions one week each month in Strasbourg, but committee meetings normally take place in Brussels.
Export-lmport Bank of the United States (Eximbank). A public corporation created by executive order of the President in 1934 and given a statutory basis in 1945. Eximbank makes guarantees and insures loans to help finance US exports, particularly for equipment to be used in capital improvement projects. Eximbank also provides short- term insurance against both commercial and political risk, either directly or in conjunction with US commercial banks.
Food and Agricultural Organization (FAO). A specialized agency of the United Nations created in 1945 to increase the production and improve the distribution of agricultural products and improve the conditions of rural populations. The F AO is headquartered in Rome.
Foreign Credit Insurance Association (FCIA). A US federal agency established in 1961 which, in partnership with Eximbank, offers insurance to US exporters against commercial risk and political risk (Sec. 11).
General Agreement on Tariffs and Trade (GATT). The central international institution supporting negotiations for the reduction of trade barriers and for the resolution of trade disputes. As a set of agreements, the GATT also constitutes the legal framework of the world trading system. The General Agreement was completed in 1947 as an interim arrangement pending establishment of the projected I international Trade Organization ( ITO ), and was envisaged primarily as a code of conduct for commercial policy among a fairly small group of countries. After the US Congress failed to ratify the ITO charter, the articles of the GATT and related agreements became the sole multilateral instrument establishing the basic rules of international trade. (The GATT is applied by the United States as an executive agreement which did not require ratification by the Senate.) The GATT provides a forum for multilateral negotiations to reduce trade barriers (see GA1T Round, Sec.l); for dispute settlement (Sec. I); and for negotiating new trade rules and improving existing rules. The Contracting Parties (Sec. I) themselves administer the trade pacts; most decisions are therefore made by consensus, and the role of the Director-General and the GATT Secretariat are only advisory .As of August 1993, 110 countries4 were GATT members, and accession negotiations for 10 others were 3 Members are elected to the European Parliament every five years on the basis of proportional representation in each EC member state except the United Kingdom, which uses simple majority voting by constituency. Underway (see "The GATT System: Spectrum of Country Affiliations" in Appendix C). The GA TT is headquartered in Geneva, Switzerland.
General Agreement on Trade in Services (GATS). A proposed organization, similar to the GA1T , that would administer and implement agreements reached during the Uruguay Round (Sec.l) covering trade in services (Sec.ll).
GATT Council. Formally known as the Council of Representatives, the GA 17 Council is the principal decision-making body of the GA TT on a day-to-day basis. The Council was established in 1960 to conduct GATT business between the annual sessions of the Contracting Parties, and meets seven to nine times a year. While the GA TT Contracting Parties can vote for or adopt measures as provided for in the General Agreement, the Council acts on the basis of consensus, and its rulings are subsequently approved formally by the Contracting Parties at their annual session.
Group of Fifteen (G-15). A group of developing countries seeking recognition as interlocutor for the LDCs in discussions of international economic issues with industrial countries. Established in 1989 among Algeria, Argentina, Brazil, Egypt, India, Indonesia, Jamaica, Malaysia, Mexico, Nigeria, Peru, Senegal, Venezuela, the former Yugoslavia, and Zimbabwe.
Group of Seven (G- 7). The seven leading industrial countries of the world: the United States, Japan, Germany, France, the United Kingdom, Italy, and Canada. In 1975, the leaders of the G- 7 countries held a summit meeting in Rambouillet, France, to discuss global economic problems in the wake of the OPE~ crisis. G- 7 "Economic Summits" have been held annually since then, usually in late June or early July, with the venue rotating among the members.
Group of Seventy-Seven (G- 77). A caucus for the developing countries on economic matters in the United Nations and subsidiary organizations. The group had its origins in the "Joint Declaration of the 77 Developing Countries" appraising the work of the first UNCT AD in 1964; the numerical designation has persisted, although the membership of the group now totals 127 countries plus the Palestine Liberation Organization.
Group on Environmental Measures and International Trade. A standing GATT committee for discussions and negotiations concerning environmental trade measures (Sec. I).
Group on Export Credits and Credit Guarantees. A subgroup of the OECD Trade .Committee, comprising all OECD member countries, except Turkey, that participate in the Export Credits Arrangement (Sec. I).
Gulf Cooperation Council (GCC). A customs union including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, founded in 1981. Objectives include political coordination and harmonization of economic, financial, commercial, and customs policies; and establishment of a common external tariff. Most internal tariffs were eliminated by 1982. Significant unification of tariff schedules and liberalization of trade in services was achieved by 1983 --with certain exceptions granted to Oman --and a minimum common external tariff was established on a group of products originating in third countries. GCC headquarters are in Riyadh, Saudi Arabia; its principal administrative organs are the Supreme Council, the Ministerial Council, and the Secretariat-General.
Hamburgisches Weltwirtschaftsarchiv (HWW A). Germany's institute for international economic research, based in Hamburg.
Hexagonal Group. See Central European Initiative.
Indian Ocean Commission (IOC). A regional cooperation organization including Comoros, Madagascar, Mauritius, Reunion (France), and Seychelles, founded in 1982. Objectives include policy coordination and trade integration. Establishment of a preferential trade regime has been blocked by membership of Mauritius and Comoros in the PTA, while Reunion has no autonomy in setting its trade policy. Limited transport links inhibit intra-regional trade.
Industry Functional Advisory Committee (IF AC). One of more than 30 technical, sectoral, and functional committees forming part of the private sector advisory system established by Congress to ensure that US trade policy and negotiating objectives reflect US commercial and economic interests. The three IF ACs provide cross-sectoral technical advice on standards, customs, and intellectual property issues. IFAC members are appointed jointly by the USTR and the Secretary of Commerce. See also ATACs and IFACs.
Industry Policy Advisory Committee (IPAC). A policy-level committee that forms part of the private sector advisory system established by Congress to ensure that US trade policy and negotiating objectives reflect US commercial and economic interests. The IPAC and the individual industry sector advisory committees (/SACs) are the source of policy advice and technical expertise on industrial sector issues related to bilateral and multilateral trade negotiations. IPAC members are appointed jointly by the USTR and the Secretary of Commerce. The counterpart committee in the agriculture sector is the APAC. See also ACTPN.
Industry Sector Advisory Committee (ISAC). One of more than 30 technical, sectoral, and functional committees forming part of the private sector advisory system established by Congress to ensure that US trade policy and negotiating objectives reflect US commercial and economic interests. Each ISAC represents an individual industrial sector and provides specific, often highly technical advice concerning the likely effects of trade .policy decisions and negotiating concessions on the sector. ISAC members are appointed jointly by the USTR and the Secretary of Commerce. Counterpart committees in the agricultural sector are known as ATACs. See also IFACs.
Institut fur Weltwirtschaft (WWI). Germany's institute of world economics, based in Kiel. WWI receives funding from the federal and state governments.
Institut fur Wirtschaftsforschung (IFO). Germany's economic research institute, based in Munich. IFO receives funding from the federal and state governments, and specializes in research concerning international imbalances.
Institut fur Wirtschaft und Gesellschaft (IWG). Germany's institute for industry and commerce, based in Bonn. IWG is privately funded by German companies and associations.
Institut National de la Statistique et des Etudes Economiques (INSEE). France's institute for economic studies and statistics, a government agency roughly equivalent to the US Bureau of Economic Analysis and Bureau of Labor Statistics.
Institute for International Economics (lIE). A private, nonprofit research institution for the study and discussion of international economic issues. llE was created in 1981 through a grant from the German Marshall Fund of the United States, and receives funding from private corporations and foundations. It is based in Washington, DC.
Intergovernmental Councilor Copper Exporting Countries. An international commodity organization (Sec. I) established in 1968 to coordinate members' production and marketing decisions. Member countries include Chile, Peru, Zambia, and Zaire; Papua New Guinea is an associate member. Efforts by the group to increase prices by withholding supply were unsuccessful, as were attempts in 1979 to establish a commodity agreement (Sec. I) with consuming countries.
Intergovernmental Organizations (IGOs). A term designating international organizations outside the United Nations system through which nations cooperate on a governmental level.
Intergovernmental Policy Advisory Committee (IGPAC). A policy-level committee that forms part of the private sector advisory system established by Congress to ensure that US trade policy and negotiating objectives reflect US commercial and economic interests. The IGPAC consists of 35 representatives from state and local government bodies with an interest in or responsibility for trade; 15 of its members are state governors. Members are appointed by the USTR.
International Bank for Reconstruction and Development (IBRD). See World Bank.
International Bauxite Association. An international commodity organization (Sec. I) established in 1975 to promote orderly development of the bauxite industry. Members include Australia, Ghana. Guinea. Guyana, India, Indonesia, Jamaica, Sierra Leone, and Suriname. The Association is based in Kingston, Jamaica.
International Center for Settlement of Investment Disputes. An international agency affiliated with the World Bank, which serves as a forum for resolution of international investment disputes. The Center was established by the Convention on Settlement of I investment Disputes Between States and Nationals of Other States (Sec. I), signed in 1965. The Center provides impartial panels of conciliators and arbitrators to assist parties in reconciling differences. Failing such conciliation, binding arbitration may be enforced.
International Cocoa Organization. An international commodity organization (Sec. I) established in 1973 to implement the International Cocoa Agreement of 1972. The Organization is based in London. Exporting members are Brazil, Cameroon, Cote d'lvoire, Ecuador, Gabon, Ghana, Grenada, Guatemala, Haiti, Jamaica, Mexico, Nigeria, Papua New Guinea, Sierra Leone, Togo, Trinidad and Tobago, Venezuela, and Western Samoa. Importing members are Belgium, Bulgaria, Czech Republic, Denmark, the European Community, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Japan, Luxembourg, Netherlands, Norway, Portugal, Russia, Slovakia, Spain, Sweden, Switzerland, and the United Kingdom. The current International Cocoa Agreement expires at the end of September 1993. Negotiations on a new Agreement are continuing; exporting members are seeking an export quota system, while importing members favor a buffer stock in conjunction with an export withholding system.
International Coffee Organization (ICO). An international commodity organization (Sec. I) founded in 1963. The ICO became the administrative agency of the International Coffee Agreement (ICA) of 1976, a commodity agreement (Sec. I) among coffee- producing and consuming countries designed to control the amount of coffee produced and sold internationally. The ICO functions through the International Coffee Council, which consists of all members and meets twice a year; it is based in London. Exporting members are Angola, Benin, Bolivia, Brazil, Burundi, Cameroon, Central African Republic, Colombia, Congo, Costa Rica, Cote d'lvoire, Cuba, Dominican Republic, Ecuador, El Salvador, Equatorial Guinea, Ethiopia, Gabon, Ghana, Guatemala, Guinea, Haiti, Honduras, India, Indonesia, Jamaica, Kenya, Liberia, Madagascar, Malawi, Mexico, Nicaragua, Nigeria, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Rwanda, Sierra Leone, Sri Lanka, Tanzania, Thailand, Togo, Trinidad and Tobago, Uganda, Venezuela, Zambia, Zaire, and Zimbabwe. Importing members are Austria, Belgium, Canada, Cyprus, Denmark, the European Community , Fiji, Finland, France, Germany, Greece, Ireland, Italy, Japan, Luxembourg, Netherlands, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom, and the United States. The ICA's rigid export quota system was abandoned in 1989 after widespread discounting to non-members. Since then, members have approved three resolutions extending the Agreement without price-support provisions; the current ICA expires at the end of September 1993. In the negotiations on a new International Coffee Agreement, which began in June 1992, exporting members have sought to give the Council power to periodically change the quota system, while importing members prefer a market-oriented agreement. In August 1993, the major coffee producing countries announced plans to form a producer cartel to be known as the Association of Coffee Producing Countries.
International Cotton Advisory Committee (ICAC). An international commodity organization (Sec. I) established in 1939 among ten cotton-producing countries to improve technology and engage in market promotion, and subsequently opened to interested importing and exporting countries. Members include Argentina, Australia, Belgium, Brazil, Cameroon, Chad, Colombia, Cote d'lvoire, Denmark, Egypt, Finland, France, Germany, Greece, Guatemala, Honduras, Hungary , India, Iran, Israel, Italy, Japan, Korea, Mexico, Netherlands, Nicaragua, Nigeria, Norway, Pakistan, Peru, Philippines, Russia, Spain, Sudan, Sweden, Switzerland, Syria, Taiwan, Tanzania, Turkey, Uganda, the United Kingdom, and the United States. ICAC is based in Washington, DC.
International Dairy Products Council. A group established within the GATT framework to oversee the International Dairy Arrangement (Sec. I), charged with improving international cooperation and promoting stability of trade in the dairy sector. Members are Argentina, Australia, Botswana, Bulgaria, Egypt, the European Community, Finland, Hungary, Japan, New Zealand, Norway, Poland, Romania, South Africa, Sweden, Switzerland, and Uruguay.
International Development Association (IDA). A component of the World Bank that lends to the poorest developing countries on lenient terms.
International Finance Corporation. Established in 1956 as pan of the World Bank to facilitate the financing of privately-owned enterprises in developing countries.
International Fund for Agricultural Development (IFAD). A specialized agency of the United Nations created in 1976 to help developing countries increase their food production with low-interest loans.
International Jute Organization. An international commodity organization (Sec. I) established in 1984 to administer the International Agreement on Jute and Jute Products. Exporting members are Bangladesh, China, India, Nepal, and Thailand. Importing members are Australia, Austria, Belgium, Canada, Denmark, Egypt, the European Community , Finland, France, Germany, Greece, Indonesia, Ireland, Italy, Japan, Netherlands, Norway, Pakistan, Poland, Portugal, Spain, Sweden, Switzerland, Turkey, the United Kingdom, and the United States. The Organization is based in Dhaka, Bangladesh.
International Lead and Zinc Study Group. An international commodity organization (Sec. I) established in 1958 to provide for intergovernmental consultations on international trade in lead and zinc. Members are Australia, Austria, Belgium, Brazil, Bulgaria, Canada, China, Czech Republic, Denmark, Finland, France, Germany, Hungary, India, Iran, Italy, Japan, Korea, Morocco, Netherlands, Norway, Peru, Poland, Russia, Slovakia, South Africa, Spain, Sweden, Thailand, Tunisia, the United Kingdom, and the United States. The Group is based in London.
International Meat Council. A group established within the GA 1T framework to oversee the Bovine Meat Arrangement (Sec. I). In addition, the Council conducts studies on trade in bovine meat and organizes consultations among signatory countries, which together account for about 90 percent of world exports of beef and veal (excluding intra-EC trade), and about 60 percent of world consumption and production. Members are Argentina, Australia, Austria, Brazil, Bulgaria, Canada, Colombia, Egypt. the European Community, Finland, Guatemala, Hungary, Japan, New Zealand, Nigeria, Norway, Poland, Romania, South Africa, Sweden, Switzerland, Tunisia, the United States, and Uruguay.
International Monetary Fund (IMF). The central international monetary institution, the IMP was established after World War II as part of the Bretton Woods system (Sec. I) to ensure exchange-rate stability and facilitate resolution of payments imbalances among members. Its original purpose was to contribute to the expansion and growth of international trade by working toward making currencies freely convertible and with relatively stable values. Since the advent of flexible and managed exchange rates in the years since 1971, the IMP has assumed responsibility for monitoring members I compliance with guidelines proscribing exchange-rate manipulation to gain unfair competitive advantage over other members. Through its ability to provide funds for countries to ease temporary balance-of-payments difficulties, the IMP can exert considerable influence over their economic policies. The IMP is headquartered in Washington, DC.
International Natural Rubber Organization. An international commodity organization (Sec.l) formed in 1980 to implement the International Natural Rubber Agreement of 1979. Exporting-country members are Indonesia, Malaysia, Nigeria, Sri Lanka, and Thailand. Importing-country members are Belgium, China, Denmark, the European Community, Finland, France, Germany, Greece, Ireland, Italy, Japan, Luxembourg, Morocco, Netherlands, Norway, Russia, Spain, Sweden, Switzerland, the United Kingdom, and the United States. The organization is based in Kuala Lumpur, Malaysia. See also Association of Natural Rubber Producing Countries.
International Olive Oil Council. An international commodity organization (Sec.l) formed to administer the International Olive Oil Agreement. The members are Algeria, Belgium, Denmark, Egypt, the European Community , France, Germany, Greece, Ireland, Italy, Luxembourg, Morocco, Netherlands, Portugal, Spain, Tunisia, Turkey, and the United Kingdom. The Council is based in Madrid.
International Organization for Standardization; sometimes referred to as the International Standards Organization (ISO). A specialized international agency promoting the development of worldwide standardization and other activities related to technical barriers to trade (Sec.l). Founded in 1946, the ISO is comprised of the national standards bodies of 91 countries. ISO activities cover all industrial sectors (except the electrical and electronic engineering sector, which are the responsibility of the International Electrotechnical Commission) as well as increasing numbers of non- industrial fields such as dairy products, and air and water quality standards.
International Rice Commission. An international organization established in 1948 in Rome to promote national and international action concerning rice production, conservation, and distribution, but excluding matters relating to international trade. Membership is open to all member states of the Food and Agricultural Organization.
International Sugar Organization (ISO). An international commodity organization (Sec.l) established in 1968 to administer the International Sugar Agreement; it succeeded the International Sugar Council, which functioned from 1937 to 1958. The ISO is based in London. Exporting members include Argentina, Australia, Austria, Barbados, Belize, Bolivia, Brazil, Colombia, Congo, Costa Rica, Cuba, Dominican Republic, El Salvador, European Community, Fiji, Finland, Guatemala, Guyana, Honduras, Hungary , India, Jamaica, Japan, Korea, Malawi, Mauritius, Mexico, Nicaragua, Norway, Pakistan, Panama, Papua New Guinea, Peru, Philippines, Russia, South Africa, Swaziland, Sweden, Switzerland, Thailand, the United Kingdom (for Anguilla and St. Kilts), Uruguay, and Zimbabwe. Importing members include Canada, Finland, Japan, Korea, Norway, Russia, Sweden, and Switzerland. In March 1992, ISO members adopted a resolution establishing the text of a new, permanent International Sugar Agreement, which came into force provisionally as of January 1993. The new Agreement contains market-transparency provisions, but does not contain economic provisions. The United States was not able to agree to certain provisions of the new Agreement, and accordingly left the ISO at the end of 1992.
International Tea Committee. An international organization established in London in 1933 to administer the International Tea Agreement, which was signed by representatives of the tea industries in Ceylon, India, and the Netherlands East Indies, and was in force from 1933 through 1955. Since 1979, the Committee has functioned as a statistical and information center. Members include producers in Bangladesh, India, Indonesia, Kenya, Malawi, Sri Lanka, and Zimbabwe; consumers in Canada and the United States; and the European Tea Committee (for Belgium, Denmark, France, Germany, Italy, Luxembourg, .and the Netherlands).
International Textiles and Clothing Bureau (ITCH). A group of 18 developing countries formed to coordinate the negotiating positions of LDC textile exporters in the Uruguay Round (Sec. I). Members include Argentina, Bangladesh, Brazil, Colombia, China, Egypt, Hong Kong, India, Indonesia, Jamaica, Korea, Macau, Mexico, Pakistan, Peru, Sri Lanka, Turkey, and Uruguay. See Multifiber Arrangement (Sec. I).
International Tin Council. An international organization originally established in 1956 in London to administer the International Tin Agreement, a commodity agreement (Sec. I) among 27 countries that was intended to foster price stability in international tin markets. Divergent views among consuming countries led to collapse of the Agreement in 1985, and the Council is now defunct.
International Trade Administration (ITA). Pan of the US Department of Commerce which administers portions of US trade laws, including aspects of antidumping duties and countervailing duties.
International Trade Centre. An organization based in Geneva, Switzerland, operated and funded jointly by the GAIT and UNCTAD to provide assistance to the export programs of developing countries.
International Trade Commission (ITC). See US International Trade Commission.
International Trade Organization (ITO). (Not to be confused with Multilateral Trade " Organization, Sec. I). An international organization envisaged as pan of a triad --along with the International Monetary Fund and the World Bank --that was to govern the international economy under the Bretton Woods System (Sec. I). The ITO never came into being; see Havana Charter (Sec. I).
International Tropical Timber Organization. An international commodity organization (Sec. I) established in 1985 to implement the International Tropical Timber Agreement (ITTA) of 1983. The current ITTA expires in March 1994. Producer members are Bolivia, Brazil, Cameroon, Colombia, Congo, Cote d'Ivoire, Ecuador, Gabon, Ghana, Honduras, India, Indonesia, Liberia, Malaysia, Panama, Papua New Guinea, Peru, Philippines, Thailand, Togo, Trinidad and Tobago, and Zaire. Consumer members are Australia, Austria, Belgium, Canada, China, Denmark, Egypt, the European Community, Finland, France, Germany, Greece, Ireland, Italy, Japan, Korea, Luxembourg, Nepal, Netherlands, Norway, Portugal, Russia, Spain, Sweden, Switzerland, the United Kingdom, and the United States. The organization is based in Yokohama. Japan.
International Whaling Commission (IWC). An organization established in 1946 in Washington, DC, under the International Convention for the Regulation of Whaling. Members include Antigua and Barbuda, Argentina, Australia, Brazil, Chile, China, Costa Rica, Denmark, Finland, France. Germany, Iceland, India, Ireland, Japan. Kenya, Korea, .Mexico. Monaco. Netherlands. New Zealand, Norway. Oman. Peru. Russia. St. Vincent and the Grenadines. Senegal. Seychelles. South Africa, Spain. Sweden, Switzerland, the United Kingdom. the United States. and Uruguay. Beginning in 1986. the IWC set all ..catch limits for commercial whaling at zero, pending assessment of whale stocks and development of new whale management procedures.
International Wheat Council. An international commodity agreement (Sec. I) established in 1949 to stabilize international trade in wheat and flour. Various wheat agreements (of 1949. 1953, 1956. 1967. 1971. and 1986) were implemented by the organization. Exporting members are Argentina, Australia, Austria. Belgium. Canada, Denmark. the European Community , France. Germany. Greece, Hungary , Ireland, Italy. Luxembourg, Netherlands, Portugal. Russia, Saudi Arabia, Spain. Sweden. the United Kingdom, and the United States. Importing members include Algeria, Barbados. Belgium. Bolivia. Brazil. Cuba. Denmark, Ecuador, Egypt, the European Community. Finland, France. Germany, Greece, India, Iran. Iraq. Ireland, Israel, Italy, Japan, Korea. Luxembourg, Malta. Mauritius. Morocco. Netherlands. Norway, Pakistan. Panama, Portugal. Russia, Spain. South Africa. Switzerland. Tunisia, Turkey, Vatican City, the United Kingdom, and Yemen. (The EC, EC member states, and Russia have dual status as importing and exporting members. ) The Council is based in London.
International Wool Secretariat. An organization established in 1937 by representatives of the Australian. South African. and New Zealand Wool Boards; the Uruguayan Wool Secretariat joined in 1970. The organization engages in research, develops test methods and standards. and conducts product certification programs. The Secretariat is based in London.
Investment Policy Advisory Committee (INPAC). A policy-level committee that forms part of the private sector advisory system established by Congress to ensure that .US trade policy and negotiating objectives reflect US commercial and economic interests. The INPAC is the primary committee for private sector advice on investment- related negotiations in the Uruguay Round and NAFTA. and on Bilateral Investment Treaties (Sec. I). Members are appointed by the USTR.
Islamic Common Market. See Economic Cooperation Organization.
Itamaraty. Brazil's foreign ministry.
Japan Center for Economic Research (JCER). A nongovernmental economic forecasting organization funded primarily by Japanese corporations. JCER conducts some 200 conferences annually. in addition to publishing individual reports.
Japan Economic Research Institute (JERI). A nongovernmental economic research institute funded by Japanese corporations. JERI's target audience includes government and business leaders and academia.
Japan External Trade Organization (JETRO). A nationally-chartered organization with an endowment from the Japanese government, charged with gathering commercial intelligence, conducting market research, and performing public relations services for Japanese industry worldwide. JETRO was originally established in 1945 as a market research consortium for Japanese industry. While it nominally remains an independent public corporation, JETRO is effectively controlled by MITI, and its overseas offices are staffed almost exclusively with MITI personnel.
Keidanren. A federation of Japanese economic organizations, Keidanren is Japan's premier organization representing big business. Keidanren leaders often confer with Japanese government officials in developing and implementing policy. See also Nikkeiren and Shako Kaigisho.
Keiretsu. Major industrial groups or combines in Japan. "Horizontal" keiretsu --some descended from pre-World War II zaibatsu --consist of affiliated companies in diverse fields. The six principal horizontal keiretsu are Mitsubishi, Sumitomo, Mitsui, Sanwa, Fuyo, and Dai Ichi Kangyo; most of Japan's largest corporations are linked to one or another of these groups. "Vertical " keiretsu consist of a network of suppliers and distributors centered around a single, large firm. See also sogo shasha.
Labor Advisory Committee (LAC). A policy-level committee that forms part of the private sector advisory system established by Congress to ensure that US trade policy and negotiating objectives reflect US commercial and economic interests. The LAC provides advice on labor issues related to bilateral and multilateral trade negotiations. The roughly 100 LAC members, representing the range of organized labor in the United States, are appointed by the USTR in conjunction with the Secretary of Labor.
Latin American Integration Association (LAIA) or Asociacion Latino americana de Integracion (ALADI). A regional cooperation organization and preferential arrangement including Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Mexico, Paraguay, Peru, Uruguay, and Venezuela. LAIA was established by the Montevideo Treaty of 1980; it superseded the Latin American Free Trade Area (LAFI' A), which was abandoned largely because of inflexible rules governing the integration process.
Mano River Union (MRU). A customs union including Guinea, Liberia, and Sierra ,. Leone. It was founded in 1973 as a bilateral agreement between Liberia and Sierra Leone; Guinea joined in 1980. Objectives include trade expansion through elimination of tariffs on intra-group trade; economic integration; and sectoral cooperative programs. A common external tariff has been in effect since 1977. Duty-free treatment is provided for goods with at least 35 percent local content, but little progress has been made in reducing nontariff barriers. Policy coordination is currently suspended due to the civil war in Liberia.
Matignon or Hotel Matignon. The office of France's Prime Minister.
MERCOSUR. See Southern Common Market.
MITI. Japan's Ministry of International Trade and Industry, responsible for international trade policy (including trade finance and export insurance) as well as various industrial .policies of Japan. The MITI acronym is also used by various countries in addition to Japan.
MOF. Ministry of Finance (various countries).
MOFA. Ministry of Foreign Affairs (various countries).
MOFERT. China's ministry of foreign economic relations and trade.
Multilateral Investment Guarantee Agency. An independent agency of the World Bank group established in 1988 to guarantee eligible investments against non-commercial losses. Its current membership includes 9 developed countries and 20 LDCs.
Multilateral Trade Organization (MTO). A proposed organization that would subsume the GAIT, the General Agreement on Trade in Services, and any organizational arrangement needed to implement an agreement dealing with intellectual property rights upon conclusion of the Uruguay Round negotiations (see Sec. I).
National Association of Manufacturers (NAM). An organization representing US industry views on national and international economic issues, including trade, international finance and investment, and multinational corporations. NAM also reviews and repond on legislation, administrative rulings, and judicial decisions affecting US industry. It is based in Washington, DC.
National Bureau of Economic Research (NBER). A private, nonprofit organization engaged in quantitative analysis of US domestic and international economic issues. NBER-sponsored studies and conferences generally involve leading economists from US universities. It is based in Cambridge, Massachusetts.
National Economic Council (NEC). The NEC was established at the outset of the Clinton Administration to coordinate US domestic and international economic policies. Chaired by the President, the NEC is composed of the Vice President, the Secretaries of State, Treasury, Commerce, Agriculture, Labor, Housing and Urban Development, Transportation, and Energy , the Administrator of the Environmental Protection Agency, the Chair of the Council of Economic Advisors, the Director of the Office of Management and Budget, the US Trade Representative, the National Security Advisor, and the Assistants to the President for Economic Policy, Domestic Policy, and Science and Technology Policy. All executive departments and agencies --whether or not represented on the NEC --coordinate economic policy through the Council. The NEC Deputies Committee considers decision memoranda from the TPRG as well as particularly important or controversial trade-related issues, and thus serves as the highest- level group in the interagency mechanism for developing and coordinating US policies on international trade and trade-related investment issues.
National Foreign Trade Council. An organization of US companies engaged in international trade and investment, based in Washington, DC. The Council advocates open international trade, export expansion, and policies to assist US companies competing in world markets.
National Institute of Economic and Social Research. A privately funded British ..research institute specializing in macroeconomic issues, industrial productivity, and comparative industrial organization.
National Planning Association. A private, nonprofit organization specializing in research and economic policy formulation through joint efforts by representatives of US business, labor, and agriculture groups, as well as the applied and academic professions, serving on NP A policy committees. Research and writing for the committees are provided by the NP A's professional staff as well as outside experts. It is based in Washington, DC.
Nikkeiren. Japan's employers' federation, roughly equivalent to the US National Association of Manufacturers. See also Keidanren.
Nongovernmental Organizations (NGOs). Refers to transnational organizations of private parties, including professional associations, foundations, multinational businesses, or other groups with a common interest in a particular policy issue. Organizations with NGO status are permitted to send observers and submit written statements to meetings of the UN Economic and Social Council on the basis of their technical knowledge or special experience.
Nordic Regional Cooperation (Nordic Group ). A regional cooperation organization including Denmark, Finland, Iceland, Norway, and Sweden. Objectives include coordination of economic, trade, environmental, and social policies; and cooperation on relations with outside countries and multilateral organizations. It was established by the Helsinki Convention of 1962. An inter-parliamentary group functions as the Nordic Council, headquartered in Stockholm. Prime Ministers of the Nordic countries decided in October 1992 to establish a rotating presidency on the EC model in an effort to increase Nordic influence within the EEA. Institutional mechanisms for trade policy coordination among members are well established; members have been generally ..successful in harmonizing policies and establishing cohesion for participation as a group in GATT consultations and negotiations.
One-Thirteen Committee (113 Committee). The central organization in the trade policymaking Structure of the European Community. The Committee is comprised of 12 member-state delegates and one from the EC Commission, and is the primary link between the Commission and member states on trade issues. The 113 Committee assists the Commission in defining and implementing the Community's commercial policy, including tariff rates, export policies, and measures to liberalize trade or-protect EC industries. While the Commission usually acts as the policy initiator and primary trade negotiator with non-EC countries, it works closely with the 113 Committee --taking into account various national interests --in order to ensure eventual approval of its draft agreements. Each member state appoints its own representatives to the 113 Committee; the senior delegates are called "titulaires," and are backed by deputies. As the main Committee members, the titulaires are the key trade policymakers in their respective governments, holding positions (usually as career civil servants) roughly equivalent to a US Assistant or Under Secretary. The 113 Committee deputies --primarily counselor- level officials from the member states' permanent missions to the Community --work out the mechanics of trade proposals and participate in various subcommittees devoted to specific issues, often joined by working-level experts from their capitals. The number of attendees at the Committee's monthly meetings can reach 50, including advisers and staffers. The Chair of the 113 Committee rotates every six 11'1onths and is held by the member state currently serving as EC president. The Committee takes its name from Article 113 of the Treaty of Rome (Sec.l).
Organization for Economic Cooperation and Development (OECD). An international organization headquartered in Paris that serves as a forum for discussion of trade and other economic and social issues confronting the industrial market economies. The OECD was established in 1960 as successor to the OEEC, the organization originally set up to assist European postwar economic recovery under the Marshall Plan. OECD periodically publishes surveys of member countries' economic performance and prospects --as well as the semi-annual Economic Outlook covering the entire industrialized world --and is the principal source of comparative data on the industrial economies. OECD publications cover a wide range of issues including trade, banking and financial markets, employment, social policies, the environment, agriculture, energy , industry , development aid, science and technology , R&D, nation, education, and transportation. The member countries use the OECD and its various committees and working groups to conduct both studies and negotiations on particular economic, financial, and trade issues; among the key OECD committee~ dealing with such issues are:
In addition, a Center for Cooperation with the European Economies in Transition was established in 1990 to coordinate OECD work with the Central and East European Countries. Common analysis of issues in the OECD is sometimes instrumental in forging a consensus among industrial countries to pursue certain negotiating goals in the GATT and other international fora. Each of the member countries maintains a permanent delegation to OECD, headed by an ambassador who attends weekly meetings of the OECD Council, chaired by the Secretary-General. Each year in late Mayor early June, the Council meets at the Ministerial level, under the chairmanship of one or more ministers from the member country elected annually to this function. The member countries are Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Japan, Luxembourg, Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, the United Kingdom, and the United States (in addition, the EC Commission usually participates in OECD activities). In June 1993, the OECD Council formally initiated the process of examining terms and conditions of accession for Mexico.
Organization of East Caribbean States (OECS). A customs union including Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines. It was founded in 1981 as a subregional group of CARlCOM. Only Dominica and St. Vincent have implemented the OECS common external tariff.
Organization of Petroleum Exporting Countries (OPEC). A producer cartel comprising 13 leading oil-producing countries that seek to coordinate oil production and pricing policies. Members include Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. OPEC was established in September 1960 and is headquartered in Vienna, Austria.
Overseas Development Council (ODC). A research and educational organization that encourages review of US policies toward developing countries by the business community, educators, policymakers, and journalists. It is based in Washington, DC.
Overseas Private Investment Corporation (OPIC). An agency of the US government established in 1971 to promote private investment in overseas projects, especially in developing countries. OPIC provides start-up assistance as well as direct loans and loan guarantees for equity participation in foreign ventures, but its primary activity is insuring against losses sustained by US investors in foreign equity ventures as the result of political risks (Sec. 11). OPIC services are available only to US citizens and US- controlled corporations.
Pacific Basic Economic Council (PBEC). A consultative grouping comprising government and private-sector representatives from Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Peru, Philippines, Russia, Singapore, South Korea, Taiwan, Thailand, and the United States. PBEC was founded in 1984 for the purpose of consultation and cooperation on a broad range of economic and trade-related policies. PBEC has held annual conferences and working groups have been operating since 1984. A permanent secretariat was established 1990 in Singapore.
Pancafe. The trading arm of the International Coffee Organization.
Paris Club. An informal designation for meetings between representatives of a .developing country that wishes to renegotiate its official debt (normally excluding debts owned by and to the private sector without official guarantees) and representatives of the relevant creditor governments and international institutions. The meetings are traditionally chaired by a senior official of the French Treasury .Comparable meetings occasionally take place in London and in New York for countries that wish to renegotiate repayment terms for their debts to private banks; such meetings are sometimes called "creditors clubs".
Paris Union. The organization of signatory states to the Paris Convention for the Protection of Industrial Property (Sec. I).
Patronat (Conseil National du Patronat Francais, or CNPF). France's employers' council, roughly equivalent to the US National Association of Manufacturers.
Pentagonal Group. See Central European Initiative.
Preferential Trade Area for Eastern and Southern Africa (PTA). A preferential arrangement and eventual common market including Angola, Burundi, Comoros, Djibouti, Ethiopia, Kenya, Lesotho, Malawi, Mauritius, Mozambique, Rwanda, Somalia, Sudan, Swaziland, Tanzania, Uganda, Zambia, and Zimbabwe, founded in 1982. Objectives include commercial and economic cooperation, harmonization of policies; elimination of tariffs on all goods traded within region by 2000, and reduction of nontariff barriers; removal of foreign exchange constraints in intra-regional trade; and cooperation in agriculture. Some tariffs have been reduced on a limited range of products; a common list of goods receiving preferential rates is in effect. Restrictive rules of origin and value-added criteria have reduced coverage of intra-group trade liberalization.
Quai d'Orsay. France's Ministry of Foreign Affairs.
Regional Cooperation for Development (RCD). See Economic Cooperation Organization.
Rio Group. A regional cooperation organization including Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Mexico, Paraguay, Peru, Uruguay, and Venezuela. Central American representation in consultations is a rotating position, currently held by Honduras; Jamaica represents the Caribbean nations.
SECOFI. Mexico's Secretariat of Commerce and Industrial Development.
Services Policy Advisory Committee (SPAC). A policy-level committee that forms part of the private sector advisory system established by Congress to ensure that US trade policy and negotiating objectives reflect US commercial and economic interests. Members are appointed by the USTR, and are broadly representative of the spectrum of service industries in the United States.
Shoko Kaigisho. A Japanese organization roughly equivalent to the US Chamber of Commerce. See also Keidanren.
Sogo Shosha. A Japanese trading company. The term is customarily applied to the nine largest of such enterprises --i.e., Mitsui and Company, Sumitomo Corporation, C. Itoh and Company, Mitsubishi Corporation, Marubeni Corporation, Nissho Iwai, Tomen, .Kanematsu-Gosho, and Nichimen. A trading company may often function as leader of a keiretsu, but it is a separate entity .Most of Japan's foreign trade is done through trading companies; the nine sogo shoshas handle nearly half of Japanese imports and exports, and serve as screening mechanisms for imports that might be damaging to members of a keiretsu.
South Asian Association for Regional Cooperation (SAARC). A regional cooperation organization including Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka, founded in 1985. Objectives include establishment of a preferential trade area by 1997; the draft text of a South Asia Preferential Trade Agreement (SAPT A) is under negotiation.
South Pacific Regional Trade and Economic Cooperation Agreement (SPARTECA). A non-reciprocal preferential arrangement including Australia, Cook Islands, Federated States of Micronesia, Fiji, Kiribati, Marshall Islands, Nauru, New Zealand, Niue, Papua New Guinea, Solomon Islands, Tonga, Tuvalu, Vanuatu, and Western Samoa, founded in 1981. Objectives include trade, investment, and industrial cooperation, aimed at redressing the unequal trade relationship of Australia and New Zealand with the small island economies in the Pacific region. Beneficiaries have been granted duty-free access to Australia and New Zealand for all products except sugar, textiles, clothing, footwear, steel, and passenger motor vehicles.
Southern African Customs Union (SACU). A customs union including Botswana, Lesotho, Namibia, South Africa, and Swaziland. SACU was founded in 1969, superseding a customs union among the participants dating from the colonial era. In October 1992, Pretoria called for replacing SACU with a new regional trade arrangement, indicating that financial transfers to its SACU partners under a common income pool arrangement had become unacceptably high. A common external tariff is in effect. SACU has been generally successful in liberalizing intra-regional trade, albeit behind high external trade barriers.
Southern African Development Community (SADC). A regional cooperation organization including Angola, Botswana, Lesotho, Malawi, Mozambique, Namibia, Swaziland, Tanzania, Zambia, and Zimbabwe. It was signed August 1992, superseding the Southern African Development Coordinating Conference established by the Lusaka Declaration of 1980; ratification is pending. Objectives include economic integration through free movement of trade, capital, and labor; policy harmonization and project coordination; and eventual creation of a common market. Key details of implementation protocols have yet to be negotiated.
Southern Common Market ..Mercado Common del Sur (MERCOSUR) or Mercado Comum do Sui (MERCOSUL). A common market including Argentina, Brazil, Paraguay, and Uruguay. The agreement was signed in March 1991; it is to be fully implemented by December 1994 for Argentina and Brazil, and by December 1995 for Paraguay and Uruguay.
Tariff Commission. See US International Trade Commission.
Textiles Surveillance Board (TSB). A GATT standing committee responsible for .overseeing the bilateral agreements between developed and developing countries under the Multifiber Arrangement (Sec. I).
Trade and Investment Council. A forum for bilateral consultations between the United States and various countries which have signed a Trade and Investment Framework Agreement (Sec. I) with Washington.
Trade Negotiations Committee (TNC). The steering group established at the outset of the GA 1T Uruguay Round (Sec. I) to oversee the negotiations. Also established were a Group of Negotiations on Goods, a Group of Negotiations on Services, and a Surveillance Body, all of which were subordinate to the TNC.
Trade Policy Research Centre. A London-based organization established in 1968 to promote independent research and discussion of international economic policy issues.
Trade Policy Review Group (TPRG). The subcabinet interagency group responsible for developing and coordinating US policies on international trade and trade-related investment issues. The TPRG addresses particularly significant trade policy questions as well all issues on which agreement is not reached in the TPSC. The TPRG is administered by USTR and chaired by the Deputy US Trade Representative. Member agencies, represented on the TPRG at the Under Secretary level, include the Departments of Commerce, Agriculture, State, Treasury, Labor, Justice, Defense, Interior, Transportation, and Energy, the Office of Management and Budget, the Council of Economic Advisors, and the International Development Cooperation Agency; the National Economic Council and the National Security Council have a joint .representative. The US International Trade Commission is an observer. Representatives of other agencies also may be invited to specific meetings. See also National Economic Council.
Trade Policy Staff Committee (TPSC). The first-line operating group in the interagency mechanism for developing and coordinating US policies on international trade and trade-related investment issues. The TPSC is administered and chaired by USTR. Member agencies, represented on the TPSC at the senior civil servant level, include the Departments of Commerce, Agriculture, State, Treasury, Labor, Justice, Defense, Interior, Transportation, and Energy, the Office of Management and Budget, the Council of Economic Advisors, and the International Development Cooperation Agency; the National Economic Council and the National Security Council have a joint representative. The US International Trade Commission is a non-voting member. Representatives of other agencies also may be invited to specific meetings. Supporting the TPSC are more than 60 subcommittees and task forces focusing on specific topics, to which USTR assigns responsibilities for economic analysis through the interagency process. Conclusions and recommendations are then presented to the full TPSC as the basis for reaching interagency policy consensus. See also TPRG .
United Nations Commission on International Trade Law (UNCTRAL). A specialized body of the United Nations established in 1966 to promote harmonization of international trade law. The Commission's functions include coordination of the work of various international organizations active in trade-United Nations Conference on Trade and Development (UNCT AD). An organ of the UN General Assembly that has convened quadrennially since 1964 to discuss international economic and trade relations and measures that might be taken by industrial countries to accelerate the pace of economic development in LDCs. All members of the United Nations are members of UNCTAD; the Trade and Development Board handles day-to-day issues between UNCTAD sessions.
United Nations Industrial Development Organization (UNIDO). A UN specialized agency established in 1966 to promote and accelerate the industrialization of LDCs. It provides a forum for consultations between industrial and developing countries concerning industrial development and provides technical assistance to LDCs. UNIDO headquarters are in Vienna, Austria.
US Chamber of Commerce. A federation of business, trade, and professional associations, state and local chambers of commerce, and American chambers of commerce abroad. The Chamber represents the business community's views on domestic and international economic policy issues; among its activities is maintenance of a trade negotiations information service. It is based in Washington, DC.
US Customs Service. An agency within the US Department of the Treasury charged with enforcement of the tariff acts and other laws relating to the importation of goods into the United States.
US International Trade Commission (ITC or USITRC). An independent regulatory and fact-finding agency of the US government whose members and staff make determinations of injury (Sec. I) and recommendations concerning industries or workers seeking relief from increasing import competition. In addition, upon the request of Congress or the President, the USITC conducts comprehensive studies of specific industries and trade problems, and the probable impact on specific US industries of proposed reductions in US tariffs and nontariff barriers. The Commission may also undertake such studies on its own initiative. The USITC was established by the Trade Act of 1974 (Sec. IV) as the successor agency to the US Tariff Commission. Its six members are appointed to nine-year terms by the President with the advice and consent of the Senate.
United States Trade Representative (USTR). An official in the Executive Office of the President with the rank of Ambassador, responsible for advising the President on the formulation and implementation of US trade policy and for working with Congress accordingly. The USTR has lead responsibility for coordinating US government positions in and conducting international trade negotiations. USTR is also the designation for the White House office headed by the US Trade Representative. Prior to the Trade Act of 1979, which established the Office of the USTR, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established in the Trade Act of 1962 (Sec. IV).
Vise grad Group. See Central European Free Trade Agreement.
West African Economic Community or Communaute Economique de I' Afrique de l'Ouest (CEAO). A customs union including Benin, Burkina Faso, Ivory Coast, Mali, Mauritania, Niger, and Senegal. It was founded in 1973, superseding the Customs Union of West African States. Objectives include elimination of internal tariffs and nontariff barriers to intra-regional trade; establishment of a common external tariff; freer labor mobility within the region; development of transportation and communications linkages; and harmonization of investment rules. Intra-regional trade in raw materials is largely duty-free. However, tariff-cutting procedures give members wide latitude to exclude sensitive products from liberalization, limiting coverage of manufactures and processed goods to products with little potential for intra-regional trade. Fewer than 500 products receive regional preferences. A community convention permitting free flow of migrant workers is in place.
West African Economic and Monetary Union or Union Economique et Monetaire Ouest africaine (UEMOA). A prospective customs union including Benin, Burkina Faso, Ivory Coast, Mali, Mauritania, Niger, and Senegal. It was approved by heads of state at the July 1992 summit of the West African Monetary Union; details of the treaty are under negotiation. Objectives include establishment of a customs union, and harmonization of tax policies and of legal and regulatory frameworks.
Whitehall. Britain's Foreign Ministry.
World Bank. The International Bank for Reconstruction and Development (IBRD), commonly referred to as the World Bank, is an intergovernmental financial institution headquartered in Washington, D.C. Established in 1945 as part of the Bretton Woods system (Sec. I), its primary function is to make long-term, low-interest loans to developing countries.
World Intellectual Property Organization (WIPO). A specialized agency of the United Nations dealing with legal and administrative aspects of intellectual property -- such as copyrights, patents, and trademarks --and seeking to promote international cooperation in the protection of intellectual property rights (Sec. I). Among its treaties and agreements, WIPO administers the International Union for the Protection of Industrial Property (the Paris Union) formed to reduce discrimination in national patent practices, and the International Union for the Protection of Literary and Artistic Works (the Berne Union) formed to reduce discrimination in national copyright laws. WIPO is headquartered in Geneva, Switzerland.
Zaibatsu. See keiretsu.