A trade preference is a preference by one country for buying
goods
In economics, goods are anything that is good, usually in the sense that it provides welfare or utility to someone. Alan V. Deardorff, 2006. ''Terms Of Trade: Glossary of International Economics'', World Scientific. Online version: Deardorffs ...
from some other country more than from other countries. It grants special support to one country over another. It is the opposite of a
trade prohibition.
For example, the Agreement on the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community (
Brexit withdrawal agreement
The Brexit withdrawal agreement, officially titled Agreement on the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community, is a treaty between the European Uni ...
) stated that
In the UK, the
Trades Union Congress
The Trades Union Congress (TUC) is a national trade union center, national trade union centre, a federation of trade unions that collectively represent most unionised workers in England and Wales. There are 48 affiliated unions with a total of ...
(TUC) has stated that the country's trade preference system "should provide
Global South
Global North and Global South are terms that denote a method of grouping countries based on their defining characteristics with regard to socioeconomics and politics. According to UN Trade and Development (UNCTAD), the Global South broadly com ...
countries
with unilateral tariff-free access to the UK’s market on the condition of respect for fundamental
ILO standards and progress towards the realisation of the UN
Sustainable Development Goals
The ''2030 Agenda for Sustainable Development'', adopted by all United Nations (UN) members in 2015, created 17 world Sustainable Development Goals (SDGs). The aim of these global goals is "peace and prosperity for people and the planet" – wh ...
, in particular Goal 8 on
Decent work
Decent work is employment that "respects the fundamental rights of the human person as well as the Labor rights, rights of workers in terms of conditions of work safety and remuneration. ... respect for the physical and mental integrity of the ...
.
A
preferential certificate of origin is a document attesting that goods in a particular shipment are of a certain origin under the definitions of a particular bilateral or multilateral trading agreement.
See also
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EUR.1 movement certificate
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Rules of origin
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Trade mandate
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Trade prohibition
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Trade sanctions
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National treatment
National treatment is a principle in international law. Utilized in many treaty regimes involving trade and intellectual property, it requires equal treatment of foreigners and locals. Under national treatment, a state that grants particular righ ...
*
Most favored nation
In international economic relations and international politics, most favoured nation (MFN) is a status or level of treatment accorded by one state to another in international trade. The term means the country which is the recipient of this treatme ...
References
Commercial policy
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