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Plurilateral Agreement
A plurilateral agreement is a multi-national legal or trade agreement between countries. In the jargon of global economics, it is an agreement between more than two countries, but not a great many, which would be multilateral agreement. Use of the term in the World Trade Organization The term "plurilateral agreement" is used in the World Trade Organization. A plurilateral agreement implies that WTO member countries would be given the choice to agree to new rules on a voluntary basis. This contrasts with the multilateral WTO agreement, where all WTO members are party to the agreement. The Agreement on Government Procurement is typical plurilateral agreement. Plurilateral treaties A plurilateral treaty is a special type of multilateral treaty. A plurilateral treaty is a treaty between a limited number of states with a particular interest in the subject of the treaty. The primary difference between a plurilateral treaty and other multilateral treaties is that the availability of r ...
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Global Economics
International economics is concerned with the effects upon economic activity from international differences in productive resources and consumer preferences and the international institutions that affect them. It seeks to explain the patterns and consequences of transactions and interactions between the inhabitants of different countries, including trade, investment and transaction. * International trade studies goods and services flows across international boundaries from supply-and-demand factors, economic integration, international factor movements, and policy variables such as tariff rates and trade quotas. * International finance studies the flow of capital across international financial markets, and the effects of these movements on exchange rates. * International monetary economics and international macroeconomics study flows of money across countries and the resulting effects on their economies as a whole. * International political economy, a sub-category of interna ...
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Multilateral Agreement
A multilateral treaty is a treaty to which two or more sovereign states are parties. Each party owes the same obligations to all other parties, except to the extent that they have stated reservations. Examples of multilateral treaties include the Convention Relating to the Status of Refugees, the United Nations Convention on the Law of the Sea, the Geneva Conventions, and the Rome Statute of the International Criminal Court. Relationship to bilateral treaties A bilateral treaty is a treaty between two states. A bilateral treaty may become a multilateral treaty when additional new parties succeed or accede to it. Plurilateral treaties A plurilateral treaty is a special type of multilateral treaty. A plurilateral treaty is a treaty between a limited number of states with a particular interest in the subject of the treaty. The primary difference between a plurilateral treaty and other multilateral treaties is that the availability of reservations is more limited under a plurila ...
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World Trade Organization
The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade. With effective cooperation in the United Nations System, governments use the organization to establish, revise, and enforce the rules that govern international trade. It officially commenced operations on 1 January 1995, pursuant to the 1994 Marrakesh Agreement, thus replacing the General Agreement on Tariffs and Trade (GATT) that had been established in 1948. The WTO is the world's largest international economic organization, with 164 member states representing over 98% of global trade and global GDP. The WTO facilitates trade in goods, services and intellectual property among participating countries by providing a framework for negotiating trade agreements, which usually aim to reduce or eliminate tariffs, quotas, and other restrictions; these agreements are signed by representatives of member governmentsUnderstanding the WTO' Handbook at WTO offi ...
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WTO Accession And Membership
The original member states of the World Trade Organization are the parties to the General Agreement on Tariffs and Trade (GATT) after ratifying the Uruguay Round Agreements, and the European Communities. They obtained this status at the entry into force on 1 January 1995 or upon their date of ratification. All other members have joined the organization as a result of negotiation, and membership consists of a balance of rights and obligations.Membership, Alliances and Bureaucracy
World Trade Organization
The process of becoming a (WTO) member is unique to each applicant country, and the terms of accession are dependent upon the c ...
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Agreement On Government Procurement
The Agreement on Government Procurement (GPA) is a plurilateral agreement under the auspices of the World Trade Organization (WTO) which regulates the procurement of goods and services by the public authorities of the parties to the agreement, based on the principles of openness, transparency and non-discrimination. The agreement was originally established in 1979 as the Tokyo Round Code on Government Procurement, which entered into force in 1981 under the auspices of the General Agreement on Tariffs and Trade.World Trade OrganizationAgreement on Government Procurement accessed 1 July 2019 It was then renegotiated in parallel with the Uruguay Round in 1994, and this version entered into force on 1 January 1996. The agreement was subsequently revised on 30 March 2012. The revised GPA came into effect on 6 July 2014 and applies since 1 January 2021 to all members. Parties The following WTO Members are parties to the amended 1994 agreement: Notes Observer status The following ...
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Multilateral Treaty
A multilateral treaty is a treaty to which two or more sovereign states are parties. Each party owes the same obligations to all other parties, except to the extent that they have stated reservations. Examples of multilateral treaties include the Convention Relating to the Status of Refugees, the United Nations Convention on the Law of the Sea, the Geneva Conventions, and the Rome Statute of the International Criminal Court. Relationship to bilateral treaties A bilateral treaty is a treaty between two states. A bilateral treaty may become a multilateral treaty when additional new parties succeed or accede to it. Plurilateral treaties A plurilateral treaty is a special type of multilateral treaty. A plurilateral treaty is a treaty between a limited number of states with a particular interest in the subject of the treaty. The primary difference between a plurilateral treaty and other multilateral treaties is that the availability of reservations is more limited under a plurilater ...
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Reservation (law)
A reservation in international law is a caveat to a state's acceptance of a treaty. A reservation is defined by the 1969 Vienna Convention on the Law of Treaties (VCLT) as: a unilateral statement, however phrased or named, made by a State, when signing, ratifying, accepting, approving or acceding to a treaty, whereby it purports to exclude or to modify the legal effect of certain provisions of the treaty in their application to that State. (''Article 2 (1)(d))'' In effect, a reservation allows the state to be a party to the treaty, while excluding the legal effect of that specific provision in the treaty to which it objects. States cannot take reservations after they have accepted the treaty; a reservation must be made at the time that the treaty affects the State. The Vienna Convention did not create the concept of reservations but codified existing customary law. Thus even States that have not formally acceded to the Vienna Convention act as if they had. As reservations ...
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International Law
International law (also known as public international law and the law of nations) is the set of rules, norms, and standards generally recognized as binding between states. It establishes normative guidelines and a common conceptual framework for states across a broad range of domains, including war, diplomacy, economic relations, and human rights. Scholars distinguish between international legal institutions on the basis of their obligations (the extent to which states are bound to the rules), precision (the extent to which the rules are unambiguous), and delegation (the extent to which third parties have authority to interpret, apply and make rules). The sources of international law include international custom (general state practice accepted as law), treaties, and general principles of law recognized by most national legal systems. Although international law may also be reflected in international comity—the practices adopted by states to maintain good relations and ...
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Vienna Convention On The Law Of Treaties
The Vienna Convention on the Law of Treaties (VCLT) is an international agreement regulating treaties between states. Known as the "treaty on treaties", it establishes comprehensive rules, procedures, and guidelines for how treaties are defined, drafted, amended, interpreted, and generally operated. An international treaty is a written agreement between international law subjects reflecting their consent to the creation, alteration, or termination of their rights and obligations. The VCLT is considered a codification of customary international law and state practice concerning treaties. The convention was adopted and opened to signature on 23 May 1969,untreaty.un.org''Law of treaties'', International Law Commission, last update: 30 June 2005. Consulted on 7 December 2008.Vienna Convent ...
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