G.O's

Brexit

Britain's withdrawal from EU, leaving because of border control, limit costs, restore identity, be a sovereign nation again, stay: to avoid giving up influence and power, bad for the economy, jeopardizing economic stability

NAFTA

North American Free Trade Agreement; trade agreement between North American Companies (US, Canada, Mexico), and to stimulate trade between the US economic powerhouses; free trade and low tariffs; many for agricultural, industrial and fuel; increased jobs for large scale companies

IMF value to a country

aims to help country that is in financial trouble; helps keep track of balance of payments; provides financial advice to members in difficult economic situations; works with developing nations to maintain economic stability

value to us of ecowas

allows for stronger ties with all countries in organization; if they have a strong trade relationship with countries in a member nation, then increases the likelihood of stronger ties between us based company and their trade with other countries in that region

benefits of rcep

attempt to link 10 asean member states and the group's free trade agreement partners; would create world's largest trading bloc and have major implications for Asian countries and the world economy

consequences of NAFTA for US

because it allows for free trade, it allows the bigger companies to trade freely; can hurt smaller companies; firms would rather trade with a company that they won't have to pay tariffs for

IMF value to a business

benefits through economic growth and more business

value of ifc to company

brings value to funds, education, media, etc. take special focus on agribusinesses; make an agreement with the countries that they are operating with: contains knowledge from both parties stating that it is known that money is not expected to be returned once given

caricom

caribbean community; guide work of member states, associate states, and community institutions/bodies that make up caribbean community; focuses on building four types of resilience in caribbean (social, environmental, technological and economic); goal to develop its own ict space to transform caribbean people into digital citizens and advance climate adaption and disaster mitigation and management by ensuring periodic upadting on regional framework for achieving development resilient to climate change

CAFTA

central american free trade agreement; never went into effect; detrimental to family farms and businesses (cannot afford to import/export at lower rates), includes 34 countries in northern hemisphere

benefits of brexit for US

companies will have fewer regulations, less trade restrictions, a weakened pound

ceta

compressive economic and trade agreement; allow eu business to canada with lower tariffs; creating new business opportunities, specifically for EU farmers/producers

CCGS

country commercial guides; prepared annually and used to present a compressive look at countries' commercial environments by using economic political and market analysis

negative impacts of ifc to us company

creates global competition for us companies

oecd's benefit to us

creates opportunities for exports nationally; provides opportunities to influence policy to make conditions better for workers in us; fight corruption by promoting responsible practice; provides gov'ts analysis, comparable statistical data and policy content to show benefits of reform; evidence of successful policy implementation and improvement of economic performance (Sweden, Poland, Ireland)

ifc's positive affect on us companies

creates ties with developing countries through capitalist and democratic ideals, allows us companies to enter into foreign markets helped by ifc to improve their countries markets therefore aiding in inclusion of us companies into those improved markets

current status of tpp

currently in negotiation without the US, remained comprehensive progressive agreement for trans pacific partnership

ecowas

economic community of west african states; includes 15 countries (Nigeria, Guinea, Ghana, etc.); promotes regional coexistence and aa communicative, supportive alliance contributing to industry, transport, telecommunications, energy, agriculture, natural resources, commerce, monetary and financial issues and social; meant to be region governed in accordance with principles of democracy, rule of law, and good governance; free movement, better access to efficient education and health systems

goal of ecowas

economic integration of all members meaning free trade within countries; transparent customs procedures, and decreased delays at borders, making life easier for companies

exim's value to us company

empowers us exporters to increase sales abroad and support quality jobs at home; important to us small and medium sized business which account for more than 85% of exim's transactions

WTO's value to USA

encourages trade between nations and creates a more equal platform for all countries; allows a country like US to trade with countries not normally trading with

Exim

export-import bank of US; support growth of us companies and exports so they are little value to companies in foreign countries; offers protection for ib transactions and may create opportunity for foreign company to do business with us company; wants to increase exports of us goods

current status of imf

financial stability assessments will cover Armenia, Jamaican, Peru, and Romania (financial stability assessments consist of identifying a country's risk and proposing policies to strengthen financial stability

ccgs' value to us company

help companies decide whether or not they should begin exports and sales abroad and if so where to export goods to; provides companies with additional access to trade counseling, market intelligence, business matchmaking, and commercial diplomacy; assist in finding companies overseas and help get connections with them

value of ceta

help eu firms to move towards canadian investment; helps promote goals of ILO (international labour organization)

IFC

international finance corporation; partner - world bank group; end poverty and boost shared prosperity to create jobs in 3rd world countries through projects funded by bond issued; focuses on development of private sector (works towards creating and promoting economic prosperity by reducing poverty and creating infrastructure in developing countries)

IMF

international monetary fund; monitors member countries policies and financial developments; provides financial assistance to member countries in economic crisis (a loan that comes from payments of other member countries); provides assistance and training to member countries to build better economic institutions

ITA

international trade administration; promote trade and investment in order to strengthen competition amongst US industries while ensuring fair trade that falls within trade laws and agreements; sector supports export of non-agricultural us goods and services

how does FTAA benefit a company

it doesn't, agreement wasn't implemented

consequences of ifc

money loans isn't necessarily used for what its supposed to be, no public info about where 94% of ifc's high risk intermediary investments ended up

current status of ifc

new projects include an advisory project called Bogota Health, modernizing rundown hospitals and creating new ones

status of rcep

not implemented

USTR

office of united states trade representative; agency that negotiates directly with foreign governments to create trade policy organizations; meets with gov'ts to gather input on trade issues and discuss trade policy positions; supports productive higher paying jobs in exports to expand variety of products for purchase by consumers and businesses; encourages investment and more rapid economic growth, while working to solve int'l issues such as WTO; trade keeps our economy open, dynamic, and competitive, and helps ensure that the US continues to be the best place in the world to do business

benefits of ttip for us

opportunity for americans through increased access to european markets for american goods and services - promote us international competitiveness, jobs and growth; could raise trade between eu and us markets to over $4 trillion; making it easier to buy/sell goods between countries and for companies to invest in each other's economy

oecd

organization for economic co-operation and development; promotes policies intended to improve economic and social well being; opportunity for gov'ts to collaborate and solve issues; develop emerging economies and restore confidence in markets

OPIC

overseas private investment corporation; us gov't agency; incentivize and assist american businesses in offshore investments; investing in businesses rather than aiding, using risk mitigation tools and providing loan guarantees; offers services to help companies expand to foreign markets

regional compressive economic partnership (rcep)

proposed trade agreement between ten association of southeast asian nations (ASEAN) states; as well as six other countries that already have free trade agreements in place, main goal to broaden trade within region; alternative to tpp

benefits of NAFTA for US

protects North American businesses from foreign competition, taxes on foreign companies, gives the North American consumers the incentive to buy domestic goods; keeps business in the US instead if moving overseas

benefits of ifc

provides services (guarantees, quasi-equity, equity financing, risk management product, advisory activities); currencies in major convertibles; offer fixed or variable interest rates. ricing that reflects market conditions along with country and project risks

value of caricom to us

re-establish ties between countries (Cuba) and create trade opportunity to countries like the US would less likely be able to conduct business with

what does wto do

settling disputes between nations over trade and tariffs; economic growth; motivate positive governance; helping countries develop; supporting environment; contributing to peace and stability

mercosur

southern common market; promotes economic cooperation in south america; languages include spanish, portuguese, and guarini

value of mercosur

standardizes regulations between nations, helps commerce; helps spread democracy and cooperation among South America; ease of transportation among member nations

current status of ecowas

still ongoing union of west african nations; ecowas vision 2020

ita's value to us company

strengthens competitiveness of us industry; helps us exporters by ensuring that foreign gov't honor their commitments under international trade agreements; enforces us trade laws and agreements; create and retain us jobs through exports; variety of services; operates as a go-to resource

current status of ceta

successfully eliminated 98% of tariffs between canada and eu; canada's unemployment rate has reached its lowest mark in 4 decades at 5.7%

TPP

trans-pacific trade partnership; free trade deal originally between 12 countries bordering pacific ocean (Australia, Canada, Mexico, Peru, etc.); intends to strengthen their relationships economically by reducing or completely eliminating tariffs on goods and services; contributes to maintaining open markets, increasing world trade, and creating new economic opportunities for people of all incomes/economic backgrounds; promotes further regional economic integration; helps ensure global economy, welcome acquisition of new countries

ttip

transatlantic trade and investment partnership; a trade and investment agreement between EU and US aimed at providing greater compatibility and transparency in trade and investment regulation; intends to get rid of trade barriers like tariffs and unnecessary regulations and red tape that make it hard for companies to do business between 2 markets, providing greater compatibility and transparency in trade and investment regulation while maintaining high levels of health, safety and environmental protection

FTAA

turned into CAFTA

consequences of brexit for US

uncertainty of companies, made clear to be used as an example by the EU

current status of mercosur

venezuela suspended for violating their rules on democracy; bolivia is currently applying for membership; resumed negotiations with eu commission to reach a free trade agreement

CIA

world fact book; almanac made by CIA available on internet; info on 267 countries; use it to further intelligence on how other countries work

WTO

world trade organization; ensure trade between countries flow smoothly and as freely as possible; protect producers of goods and services; allow gov'ts to meet social and environmental objectives; connect imports and exporters to conduct their business