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Generalized System Of Preferences
The Generalized System of Preferences, or GSP, is a preferential tariff system which provides tariff reduction on various products. The concept of GSP is very different from the concept of " most favored nation" (MFN). MFN status provides equal treatment in the case of tariff being imposed by a nation but in case of GSP differential tariff could be imposed by a nation on various countries depending upon factors such as whether it is a developed country or a developing country. Both the rules comes under the purview of WTO. GSP provides tariff reduction for least developed countries but MFN is only for not discriminating among WTO members. History The idea of tariff preferences for developing countries was the subject of considerable discussion within the United Nations Conference on Trade and Development (UNCTAD) in the 1960s. Among other concerns, developing countries claimed that MFN was creating a disincentive for richer countries to reduce and eliminate tariffs and other tra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tariff
A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry. '' Protective tariffs'' are among the most widely used instruments of protectionism, along with import quotas and export quotas and other non-tariff barriers to trade. Tariffs can be fixed (a constant sum per unit of imported goods or a percentage of the price) or variable (the amount varies according to the price). Taxing imports means people are less likely to buy them as they become more expensive. The intention is that they buy local products instead, boosting their country's economy. Tariffs therefore provide an incentive to develop production and replace imports with domestic products. Tariffs are meant to reduce pressure from foreign competition and r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nepal
Nepal (; ne, नेपाल ), formerly the Federal Democratic Republic of Nepal ( ne, सङ्घीय लोकतान्त्रिक गणतन्त्र नेपाल ), is a landlocked country in South Asia. It is mainly situated in the Himalayas, but also includes parts of the Indo-Gangetic Plain, bordering the Tibet Autonomous Region of China to the north, and India in the south, east, and west, while it is narrowly separated from Bangladesh by the Siliguri Corridor, and from Bhutan by the Indian state of Sikkim. Nepal has a diverse geography, including fertile plains, subalpine forested hills, and eight of the world's ten tallest mountains, including Mount Everest, the highest point on Earth. Nepal is a multi-ethnic, multi-lingual, multi-religious and multi-cultural state, with Nepali as the official language. Kathmandu is the nation's capital and the largest city. The name "Nepal" is first recorded in texts from the Vedic period of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Foreign Affairs (Japan)
The is an executive department of the Government of Japan, and is responsible for the country's foreign policy and international relations. The ministry was established by the second term of the third article of the National Government Organization Act, and the Ministry of Foreign Affairs Establishment Act. According to the law, the mission of the ministry is "to aim at improvement of the profits of Japan and Japanese nationals, while contributing to maintenance of peaceful and safe international society, and, through an active and eager measure, both to implement good international environment and to keep and develop harmonic foreign relationships". Policy formulation Under the 1947 constitution, the cabinet exercises primary responsibility for the conduct of foreign affairs, subject to the overall supervision of the National Diet. The Prime Minister is required to make periodic reports on foreign relations to the Diet, whose upper and lower houses each have a foreign ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Japan
Japan ( ja, 日本, or , and formally , ''Nihonkoku'') is an island country in East Asia. It is situated in the northwest Pacific Ocean, and is bordered on the west by the Sea of Japan, while extending from the Sea of Okhotsk in the north toward the East China Sea, Philippine Sea, and Taiwan in the south. Japan is a part of the Ring of Fire, and spans an archipelago of 6852 islands covering ; the five main islands are Hokkaido, Honshu (the "mainland"), Shikoku, Kyushu, and Okinawa. Tokyo is the nation's capital and largest city, followed by Yokohama, Osaka, Nagoya, Sapporo, Fukuoka, Kobe, and Kyoto. Japan is the eleventh most populous country in the world, as well as one of the most densely populated and urbanized. About three-fourths of the country's terrain is mountainous, concentrating its population of 123.2 million on narrow coastal plains. Japan is divided into 47 administrative prefectures and eight traditional regions. The Greater Tokyo Ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union
The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been described as a ''sui generis'' political entity (without precedent or comparison) combining the characteristics of both a federation and a confederation. Containing 5.8per cent of the world population in 2020, the EU generated a nominal gross domestic product (GDP) of around trillion in 2021, constituting approximately 18per cent of global nominal GDP. Additionally, all EU states but Bulgaria have a very high Human Development Index according to the United Nations Development Programme. Its cornerstone, the Customs Union, paved the way to establishing an internal single market based on standardised legal framework and legislation that applies in all member states in those matters, and only those matters, where the states have agree ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Commission
The European Commission (EC) is the executive of the European Union (EU). It operates as a cabinet government, with 27 members of the Commission (informally known as "Commissioners") headed by a President. It includes an administrative body of about 32,000 European civil servants. The Commission is divided into departments known as Directorates-General (DGs) that can be likened to departments or ministries each headed by a Director-General who is responsible to a Commissioner. There is one member per member state, but members are bound by their oath of office to represent the general interest of the EU as a whole rather than their home state. The Commission President (currently Ursula von der Leyen) is proposed by the European Council (the 27 heads of state/governments) and elected by the European Parliament. The Council of the European Union then nominates the other members of the Commission in agreement with the nominated President, and the 27 members as a team are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office Of The United States Trade Representative
The Office of the United States Trade Representative (USTR) is an agency of the United States federal government responsible for developing and promoting American trade policy. Part of the Executive Office of the President, it is headed by the U.S. Trade Representative, a Cabinet-level position that serves as the U.S. President's primary advisor, negotiator, and spokesperson on trade matters. USTR has more than two hundred employees, with offices in Geneva, Switzerland, and Brussels, Belgium. USTR was established as the Office of the Special Trade Representative (STR) by the Trade Expansion Act of 1962, leads trade negotiations at bilateral and multilateral levels, and coordinates trade policy with other government agencies through the Trade Policy Committee (TPC), Trade Policy Committee Review Group (TPCRG), and Trade Policy Staff Committee (TPSC). Its areas of expertise include foreign direct investment, commodity agreements, trade-related intellectual property protection, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., federal district, five major unincorporated territories, nine United States Minor Outlying Islands, Minor Outlying Islands, and 326 Indian reservations. The United States is also in Compact of Free Association, free association with three Oceania, Pacific Island Sovereign state, sovereign states: the Federated States of Micronesia, the Marshall Islands, and the Palau, Republic of Palau. It is the world's List of countries and dependencies by area, third-largest country by both land and total area. It shares land borders Canada–United States border, with Canada to its north and Mexico–United States border, with Mexico to its south and has maritime borders with the Bahamas, Cuba, Russia, and other nations. With a population of over 333 million, it is the List of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Global System Of Trade Preferences Among Developing Countries
The Global system of trade preferences among developing countries (G.S.T.P) is a preferential trade agreement signed on 13 April 1988 with the aim of increasing trade between developing countries in the framework of the United nations conference on trade and development United regions U.R. Its entry into force was on 19 April 1989 and its notification to the WTO on 25 September 1989. Membership There are 42 country members of GSTP, including 7 LDCs (Bangladesh, Benin, Guinea, Mozambique, Myanmar, Sudan, and Tanzania). The Third Round of Trade Negotiations (São Paulo Round) concluded in December 2010, but has not yet become effective. The currently small number of concessions limits the utilization of the GSTP by LDCs. Current members states, participating since 19 April 1989, are: Bangladesh, Cuba, Ghana, India, Nigeria, Singapore, Sri Lanka, Tanzania, Zimbabwe Additionally current members states are: Algeria, Argentina, Benin, Bolivia, Brazil, Cameroon, Chile, Colombia, Ecua ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Everything But Arms
Everything but Arms (EBA) is an initiative of the European Union under which all imports to the EU from the Least Developed Countries are duty-free and quota-free, with the exception of armaments. EBA entered into force on 5 March 2001. There were transitional arrangements for bananas, sugar and rice until January 2006, July 2009 and September 2009 respectively. The EBA is part of the EU Generalized System of Preferences (GSP). The up-to-date list of all countries benefiting from such preferential treatment is given in Annex IV of the consolidated text of Regulation (EU) 978/2012. The aim of the scheme is to encourage the development of the world's poorest countries. Samoa, having graduated from LDC status in 2014 (becoming instead a developing country), was removed from the list of EBA beneficiaries on 1 January 2019. On January 16, 2019, the European Commission decided to re-introduce import duties on rice from Cambodia and Myanmar. This was done because imports of Indica ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
African Growth And Opportunity Act
The African Growth and Opportunity Act, or AGOA (Title I, Trade and Development Act of 2000; P.L. 106–200) is a piece of legislation that was approved by the U.S. Congress in May 2000. The stated purpose of this legislation is to assist the economies of sub-Saharan Africa and to improve economic relations between the United States and the region. After completing its initial 15-year period of validity, the AGOA legislation was extended on 29 June 2015 by a further 10 years, to 2025. History The African Growth and Opportunity Act (AGOA) was the brainchild of Congressman Jim McDermott (a former Foreign Service medical officer based in Zaire), and his Chief of Staff, Michael Williams. McDermott, along with Congressman Ed Royce, helped move the earliest versions of the legislation through Congress. Later, Rosa Whitaker, who served as the first ever Assistant U.S. Trade Representative (USTR) for Africa in the administrations of Presidents William J. Clinton and George W. Bu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sub-Saharan Africa
Sub-Saharan Africa is, geographically, the area and regions of the continent of Africa that lies south of the Sahara. These include West Africa, East Africa, Central Africa, and Southern Africa. Geopolitically, in addition to the African countries and territories that are situated fully in that specified region, the term may also include polities that only have part of their territory located in that region, per the definition of the United Nations (UN). This is considered a non-standardized geographical region with the number of countries included varying from 46 to 48 depending on the organization describing the region (e.g. UN, WHO, World Bank, etc.). The African Union uses a different regional breakdown, recognizing all 55 member states on the continent - grouping them into 5 distinct and standard regions. The term serves as a grouping counterpart to North Africa, which is instead grouped with the definition of MENA (i.e. Middle East–North Africa) as it is part o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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