Essays on International Trade

IE Research
Words • 1346
Pages • 6
Introduction:The EU is Singapore's second largest export partner, while Singapore is considered to be the 17th largest trading partner in the EU and the EU's largest trading partner in ASEAN, accounting for nearly one-third of EU trade in goods and services and about two-thirds of EU-ASEAN investment (EEAS, 2016).According to the European Commission (2016), the EU-Singapore Free Trade Agreement (EUSFTA) was launched in 2010 after negotiations between 2007 and 2009 on an FTA between the EU and ASEANThe EUSFTA is therefore the first trade agreement between the EU and the Southeast Asian country and serves as a step towards building a regional network in Southeast Asia.EUSFTA negotiations were completed in 2014, but as it is pending for ratification, the agreement is not yet in place.As an ambitious FTA, the EUSFTA deals with issues relating to trade in goods, services, investment and addresses non-tariff barriers, such as regulatory issues (EU Delegation to Singapore, 2016).The so-called EC-ASEAN Agreement established in 1980 is currently the legal basis for EU-Singapore cooperation. This agreement serves as a commercial framework Cooperation between the two regions in economic and development (EEAS, 2012). However, as stated on the Singapore website by the European Union Delegation (2016). Negotiations on the EU-Singapore PCA were launched in 2013 with the aim of strengthening political dialog and establishing a new framework for cooperation in various areas; Education, transportation, energy, science and technology. The EU-Singapore will therefore continue to deepen relations between the EU and Singapore beyond trade issues. The EU had initiated EUSFTA negotiations in this case without having a PCA in advance. It can therefore be understood from the case of Singapore that a PCA is not a necessary condition for opening FTA negotiations.-SWOT Analysis :-Strenghts :Singapore is the 14th largest trading partner of the EU (trade in goods) and the largest trading partner of the EU in the South East Nations Association (ASEAN).The EU has a positive trade balance with Singapore in goods and services.As well as Asia's third largest investor in the EU (after China and Japan), Singapore is a major destination for European investment in Asia.The current bilateral foreign direct investment stock between the EU and Singapore amounted to about ˆ 256 billion in 2016, having expanded rapidly over the past few years.Bilateral negotiations with Singapore were launched in March 2010, and the trade and investment agreements reached with Singapore are the first to be concluded between the EU and a Southeast Asian economy and are a step towards greater EU - region engagement.Weaknesses:Singapore and ASEANSingapore is one of ten members of the Association of Southeast Asian Nations (ASEAN) and ASEAN's largest EU trading partner, This represents slightly less than one - third of EU - ASEAN trade in goods and services and approximately two - thirds of investment between the two regions. In Singapore, more than 10,000 EU companies are established and used as a hub to serve the entire South Pacific.Ensuring better access for EU exporters to the dynamic ASEAN market is a priority for the EU. Negotiations between the EU and ASEAN for a regional trade and investment agreement were launched in 2007 and paused in 2009 by mutual agreement to give way to a bilateral negotiating format. These bilateral trade and investment agreements have been conceived as building blocks for a future regional - to - region agreement.OpportunitiesAccording to HSBC's Head of Trade Finance, a trade deal between the European Union and Singapore could create significant new business opportunities.The Free Trade Agreement between the EU and Singapore, signed today, will eliminate nearly all tariffs on traded goods between the two. It will also standardize rules in sectors like electronics and motor vehicles, making business across borders easier for companies.Natalie Blyth, Head of Global Trade and Receivables Finance, HSBC, said: "The signing of the Free Trade Agreement between the EU and Singapore today promises to further strengthen ties between these two major economies. It offers businesses new opportunities to trade their goods and services by eliminating virtually all tariffs and reducing non - tariff barriers.The deal could boost EU exports to Singapore by ˆ 1.4 billion over ten years, European Commission economists ' analysis suggests. Over the same period, exports from Singapore to the EU could increase by as much as EUR3.5 billion.According to Mrs Blyth, Singaporean exporters will benefit from better access to European markets, especially in sectors such as electronics, pharmaceuticals, chemicals and processed food.The deal will make it easier for European businesses to sell to consumers in Singapore and across the Southeast Asian Nations Association (ASEAN), of which Singapore is a founding member.The 10 member states of ASEAN have a combined population of over 650 million, a combined GDP of approximately USD 2.8 trillion, and a rapidly expanding middle class.In order to enter into force, the agreement will need to be ratified by the Singapore government and the EU member states.Also awaiting ratification is a separate EU - Vietnam agreement. The EU is negotiating additional pacts with Indonesia, Australia and New Zealand.Threats:A free trade agreement with Singapore was approved by the European Parliament as Europe continues a campaign against U.S. protectionism. Chairman Donald Trump.The green light of the European Union assembly in Strasbourg, France on Wednesday means that the market - opening agreement can take effect later in 2019 after years of legal delays.The agreement requiring Singapore to establish a register of European agricultural products protected by their specific geographical origin must still be endorsed by EU governments.The trade deal was reached by EU and Singapore negotiators in December 2012. The pact was then held up on the role of EU national parliaments in the ratification process by a European court case.According to the European Commission, the executive arm of the bloc, trade in goods between the EU and Singapore was worth ˆ 53.3 billion ($ 60.4 billion) in 2017. Trade in services between the two sides was estimated at ˆ 44.4 billion in 2016, the commission says.Under the agreement, the EU will eliminate virtually all import tariffs from Singapore over five years and the Asian nation will end duties on the few remaining goods like beer from the block that are not already duty - free. Among the levies to be scrapped are EU petrochemical and pharmaceutical duties from Singapore.It will also reduce technical barriers to trade and anchor services market deregulation, including banking and insurance.Conclusion:The Singapore Trade Agreement will eliminate almost all remaining tariffs on certain EU products, simplify customs procedures and establish high standards and rules. It simplifies trade in goods such as electronics, food and pharmaceutical products while stimulating…...
EconomyInternational RelationsInternational TradeSingaporeTradeWorld Economy
Export Promotion Essay
Words • 1178
Pages • 5
This sample paper on Export Promotion Essay offers a framework of relevant facts based on recent research in the field. Read the introductory part, body, and conclusion of the paper below.aExport Promotion Council: the govt. has sponsored a no. of orgn which are specialized in a particular pdt or a grp of pdts & their main obj is to promote & strengthen exports of such pdt or grp of pdts. They are mainly concern with the problems with their export…...
EconomyInternational TradePoliticsTradeWorld Economy
Rmg Paper
Words • 777
Pages • 4
INTRODUCTION Bangladesh has a population around 160 million (July 2008 est. ). About 45% of them are still living below the poverty line. Bangladesh’s Human development index (HDI) is 139 (out of 177), ranking as the lowest in the Asian country list. GDP per capita (PPP US$) is 1,770, which make the countries HDI rank almost the same as the GDP rank. In Bangladesh Garment exports began in the late 1970s. But the scale was for a number of years…...
BangladeshClothingEconomyInternational Trade
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International Trade Simulation
Words • 1075
Pages • 5
Assignment: International Trade Simulation XECO/212 University of Phoenix David Cullipher The economy of Rodamia relies on three main areas: agriculture, industry and services. The country is surrounded by neighbors who produce similar and different products. Uthania is specialized in making chocolate and confectionary, but also produces goods such as minerals, coals and corn. On the other hand, Suntize is a tourist attraction which is good at producing electronic goods. Lastly, Alfazia is an agrarian economy and produces goods like corn,…...
EconomyIndustryInternational TradeTradeWorld Economy
Autopact
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Pages • 2
In May of 2000 the World Trade Organization (WTO) ended the Canadian made Auto Pact.®The Auto Pact was an agreement constructed by Pierre Trudeau in 1965 that allowed companies to bring auto parts and vehicles from anywhere in the world into Canada without any tariff, but with two conditions.®One condition was a requirement of commitment to jobs in Canada, manufacturers had to produce one car in Canada for everyone they sold.®They also had to maintain a Canadian Value Added (CVA),…...
CanadaEconomyInternational TradeTrade
Advantages And Disadvantages Of International Trade
Words • 467
Pages • 2
ADVANTAGES AND DISADVANTAGES OF INTERNATIONAL TRADE International trade allows countries to exchange good and services with the use of money as a medium of exchange. Several advantages can be identified with reference to international trade. However international trade does have its limitations as well. Discussed below are both advantages and disadvantages of international trade. Advantages •Greater variety of goods available for consumption – international trade brings in different varieties of a particular product from different destinations.Essay Example on International Trade…...
EconomyIndustryInternational TradeTradeUnemploymentWikipedia
In the past decades international trade has made it possible for the
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In the past decades, international trade has made it possible for the invention of containers all-round the globe for the easy facilitation of transferring goods and services from one place to the other. The use of these containers brought about the container terminal. Container terminals are facilities located either inside or outside the port premises where containers are transferred to, for onward transportation or delivery. This study talks about off-dock terminals which are terminals situated outside the port premises. The…...
EconomyIndustryInternational TradeLogisticsResearchSea
Xeco 212 International Trade Simulation
Words • 325
Pages • 2
International trading is an important aspect to our economy as well as other countries well being. This is important because trading allows countries the opportunity to receive goods and services that are not available in their own countries. For example, if one country specializes in agriculture than it will benefit from trading with a country that specializes in services. In this simulation, I was advising the President of Rodamia for recommendations for international trade. One advantage of international trading that…...
EconomyIndustryInternational TradeMicroeconomicsTrade
Eco 372 Week 5 Individual International Trade and Finance Speech
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Pages • 4
The U. S. Macroeconomy State. | | | | | | | Good evening ladies and gentlemen: Today I will be speaking to you about international trade and foreign exchange rates.Throughout history, there have been many market structures and systems, as well as trade amongst international countries and colonies. As all of you already know, imports can be brought in from many countries. During the process, the government will usually set a price ceiling and price floor for producers to…...
EconomicsEconomyFinanceIndustryInternational TradeMicroeconomics
International Trade Payment Method with Special Reference
Words • 3054
Pages • 13
To succeed in today’s global marketplace and win sales against foreign competitors, exporters must offer their customers attractive sales terms supported by appropriate payment methods. Because getting paid in full and on time is the ultimate goal for each export sale, an appropriate payment method must be chosen carefully to minimize the payment risk while also accommodating the needs of the buyer. This trend is attributable to the increased globalization of the world economies and the availability of trade payment…...
EconomicsEducationIndustryInternational TradeLearningReference
The _____ Theory Viewed International Trade As A Zero-sum Game.
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Pages • 19
Chapter 05 International Trade Theory True / False Questions 1. (p. 161) Propagated in the 16th and 17th centuries, mercantilism advocated that countries should discourage both imports and exports. FALSE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-1 Topic: An Overview of Trade Theory 2. (p. 161) Free trade refers to a situation where a government attempts to influence through quotas or duties what its citizens can buy from another country, or what they can produce and sell to…...
EconomyIndustryInternational TradeTradeWorld Economy
Essay on International Trade Performance of Australia
Words • 2495
Pages • 10
Australian Trading Partners This Essay has been prepared to understand the International Trade Performance of Australia. The aim of this essay is making a clear picture of Australia’s contribution in the International market place discussing Australia’s trade policy, Exports and import magnitudes of Australia, the major Trading Partners of Australia in the international trade, their Annual Trade Balance indicating the reasons behind it and future movement of Australia’s international trade. Australia's Trade policy aims to create jobs by increasing the…...
AustraliaCountryEconomicsEconomyIndustryInternational Trade
How successful have GATT and the WTO been in creating global free trade
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Pages • 10
The GATT, otherwise known as "the general agreement on tariffs and trade" was established in 1947. It started with 23 founding members including the UK, its goal was to establish free trade between nations, it would do this by eliminating tariffs, subsidies, import quota's and any other form that would restrict the freedom of trade between any given country within its membership. It would achieve this not in the short term but over a series of eight rounds of discussions…...
EconomyEmotionInternational RelationsInternational TradePoliticsSuccess
Unrestricted Trade Example
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Pages • 2
Unrestricted International trade is the importing and/or exporting of goods and services between different countries around the world. When international trade is unrestricted it allows access to any or all countries that wish to partake in this style of trade or exchange. Although there are a few downfalls to unrestricted trade, for instance the risk of receiving unsafe items such as; food, toys etc. I do not oppose unrestricted international trade; I am in favor of unrestricted international trade. I…...
EconomyGlobalizationInternational TradeTrade
Questions: International Trade Theory
Words • 7674
Pages • 31
Chapter 05 International Trade Theory True / False Questions 1. (p. 161) Propagated in the 16th and 17th centuries, mercantilism advocated that countries should discourage both imports and exports. FALSE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-1 Topic: An Overview of Trade Theory 2. (p. 161) Free trade refers to a situation where a government attempts to influence through quotas or duties what its citizens can buy from another country, or what they can produce and sell to…...
EconomyIndustryInternational TradeLearningTrade
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FAQ about International Trade

How successful have GATT and the WTO been in creating global free trade
...There is no doubt that WTO/GATT has been successful in reducing tariffs, barriers to free trade as the figures have shown. But are we really that close to total free trade, I'm sure the developing world would have some comment on that matter. The WTO...
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