2. It is the exchange of capital, goods and
services across international borders
Has always been present. E.g.: Silk route
With the advent of globalization and
outsourcing, international trade has become
all the more important
3. Usually takes up a significant share in a
country’s GDP
India’s total trade was 43% of GDP in
`05-`06 compared to 16% in `90-`91
4. Commenced on January 1, 1995 replacing
the GATT.
It’s main aim is to:
• Regulate trade between countries
• Provide a framework for negotiating trade
agreements
• Dispute resolution
5. WTO mainly focuses on the issues derived
from the previous trade negotiations,
especially from the Uruguay Round (1986–
1994).
It has 157 member states with an annual
budget of $209 million
6. Formed on August 8, 1967 with Indonesia,
Malaysia, Philippines, Singapore and
Thailand being its founding members.
It is a political and economic organization of
10 countries located in South-east Asia
Its aim is to accelerate economic growth and
to provide a platform for settling regional
differences.
7. ASEAN recognizes India as an important
partner for trade and regional stability
A free trade area came into effect on January
1, 2010
In 2008 the total volume of ASEAN-India
trade was $47.5billion
8. CARICOM- Caribbean
AGOA- African growth and
Community and
Opportunity act
Common market
COMESA- Common market for
Eastern and EU-25 – European union 25
Southern Africa
FTAA- Free trade of the
EU-27 - European union 27
Americas
SAARC- South Asian
OPEC- Organization of Association for
Petroleum Exporting
Countries Regional
Corporation