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Opec
- 2. APEC • Asia-Pacific Economic Cooperation is a forum for 21 Pacific Rim member economies that promotes free trade • It was established in 1989 • Headquarters Singapore • Executive Director Allan Bollard
- 3. APEC MEMBERS
- 4. OBJECTIVES • To sustain the growth and development of the region • To enhance the positive gains, both for the region and the world economy • To develop and strengthen the open multilateral trading system • To reduce barriers to trade in goods and services and investment among participants in a manner
- 5. • Last year they held their 28th meeting in Peru(South America) with the theme of Quality Growth and Human Development • This year the conducted in Vietnam(China)
- 6. SAARC • South Asian Association for Regional Cooperation. • Economic and political organization. • Established on December 8th,1995. • Members: Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Srilanka. • 3rd April 2007, 14th summit Afghanistan became 8th member. • Headquarters- Kathmandu, Nepal.
- 7. • General secretary H.E. Mr. Amjad Hussain B. Sial • Current Observers of SAARC are: • Australia, • China, • The European Union, • Iran, • Japan, • Republic of Korea, • Mauritius, • Myanmar • USA.
- 8. OBJECTIVES • Promote welfare of the people • Accelerate economic growth • Strengthen cooperation with other developing countries • Active collaboration and mutual assistance • Cooperate with international organisation with similar aims and purposes
- 9. KEY AGREEMENTS • Integrated Programme of action – 1983 Agriculture, rural development, metrology, telecommunication, Health, transport, postal, science and technology, Sports, etc • SAARC preferential trading agreement (SAPTA) – 1997 To promote and sustain economic growth within SAARC region through exchange of concessions.
- 11. • A free trade agreement between the governments • 1 January 1983, but the actual treaty was not signed until 28 March 1983 • Other parts of CER include: • A good that can be legally sold in one country can also be legally sold in the other. • Anyone registered to practice an occupation in one country may practice in the other • Service providers may provide services in either country (except in certain areas such as airway services)
- 12. EXAMPLES
- 16. ADVANTAGES: • Improved labor force with low cost • Reduced export and helped internal development • Advantageous to textile industry • esp.: developing countries • Example: Bangladesh suffered at the end MFA, • Because of more competition, from China.
- 17. WHAT IS OPEC……..? • Organization of petroleum exporting countries • 12 Inter-governmental organization • Key for development • 41.7% world’s total oil production • US Dollar is unit of sales • Petrodollar
- 18. COUNTRIES: • Algeria • Angola • Ecuador • Iran • Iraq • Kuwait • Libya • Nigeria • Qatar • Saudi • UAE • Venezuela
- 19. OBJECTIVE: • Co-ordinate & Unify • Stable Price • Consistent supply • Fair ROI • Promote harmony • Forecasting • Policy changes
- 20. OIL PRICE • Availability • Demand • Extraction cost • Tax burden
- 21. TREND: • 2006-2008(Increase) • 2009 steady between $60 - $80 • Past 3 years $90 - $120 • 2014 declined to the least
- 22. WHY DECLINE……..? • US oil production increases • Lower economic growth of China • Higher oil export by Iran
- 23. ATTITUDE- EFFICIENCY • Cleaner – Safer – Efficient • Environmental Sustainability • Optimization