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CHAPTER NO 22.pptx Of tybaf banking and finance
- 2. SAARC • South Asian Association of Regional Co- operation • December 7-8, 1985 • Members : Australia,China,Eu,Iran,Japan,Mauritius,Myan mar,India,Maldives,Nepal,Pakistan & Sri lanka • Motto: Deeper Integration for peace and prosperity
- 3. Objectives 1. The improve the quality of life people of South Asia 2. to accelerates a economic growth 3. to promote & strengthen collectively self relience among the countries of Asia 4. to contribute to mutual trust understanding in appreciation of one others problem 5. to promote the collective self relence among the Countries Of South Asia problem 6. to promote active economic ,social, cultural, technical and scientific field 7. to corporate with international and Regional organization with similar aim and purpose
- 4. • The South Asian Free Trade Area (SAFTA) is a free trade agreement reached between the members of the South Asian Association of Regional Cooperation (SAARC) on January 6, 2004.
- 5. • The South Asian Free Trade Area was signed in 2004 and came in to effect on January 1st 2006. • The members of SAARC signed the agreement in order to promote and sustain mutual trade and economic cooperation within the region. • SAFTA required the developing countries in South Asia (India, Pakistan and Sri Lanka) to bring their duties down to 20 per cent in the first phase of the two-year period ending in 2007. • While the least developing countries (LDC) consisting of Nepal, Bhutan, Bangladesh, Afghanistan and the Maldives had an additional three years to reduce tariffs
- 6. Objectives of SAFTA • promote competition in the free trade zone • to provide equitable benefits to all • to increase the level of trade • to Promote economic cooperation among the SAARC member • reduce tariff barriers among the members country • special preferences to least develop countries economy integration of the region so far not much economic cooperation has been achieve techling economic and trade problem Retreat agreements are not showing much progress
- 7. IMPACT OF SAARC • Not enough is being done for Rapid economic integration of the region • so far not much economic cooperation has been achieved • political issue have made SARRC less effective • free trade agreements are not showing much progress
- 8. ASEAN • Association of Southeast Asian Nations or ASEAN is an organization formed by the governments of Malaysia, Indonesia, the Philippines, Thailand, and Singapore in 1967. • to promote economic growth, peace, security, social progress and cultural development in the Southeast Asian region.
- 9. • Member States: ASEAN consists of Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. • Objectives: ASEAN aims to accelerate economic growth, social progress, and cultural development in the region, as well as to promote regional peace and stability. • Principles: ASEAN operates based on the principles of mutual respect, non-interference in internal affairs, peaceful resolution of disputes, and consensus decision-making. • Three Pillars: ASEAN's activities are organized into three pillars: the ASEAN Political-Security Community, the ASEAN Economic Community, and the ASEAN Socio-Cultural Community. •
- 10. OBJECTIVES OF ASEAN • Promote regional peace, stability, and prosperity. • Enhance political and security cooperation. • Facilitate economic integration and development through the ASEAN Economic Community. • Strengthen social and cultural cooperation among member states. • Foster regional cooperation and integration through dialogue with external partners and organizations.
- 11. WTO • Established in 1995 after the Uruguay Round of negotiations. • Aims to regulate international trade, replace the General Agreement on Tariffs and Trade (GATT), and promote free and fair trade globally. • Headquartered in Geneva, Switzerland, with 164 member countries. • Functions include negotiating trade agreements, resolving disputes, and enforcing trade rules. • Objectives include reducing trade barriers, ensuring transparency in trade policies, and facilitating multilateral trade negotiations. • Administers agreements covering goods, services, and intellectual property rights. • Provides technical assistance to developing countries for trade capacity building. • Criticized for effectiveness in addressing emerging trade issues and accommodating developing countries' interests.
- 12. Function of WTO • Negotiating trade agreements to reduce barriers to international trade. • Resolving disputes between member countries regarding trade issues. • Monitoring and ensuring implementation of trade agreements. • Conducting trade policy reviews to promote transparency. • Providing a forum for consultation on trade-related matters. • Offering technical assistance for trade capacity building. • Facilitating the accession of new member countries.
- 13. Objectives • Facilitate international trade by promoting smooth and predictable trade relations among member countries. • Ensure the implementation, administration, and operation of international trade agreements. • Provide a forum for negotiating trade agreements and resolving disputes between member countries. • Offer technical assistance and training to developing countries to help them build their trade capacity. • Collaborate with other international organizations to promote global economic development and stability.
- 14. WTO AGREEMENTS-TRIMS • TRIMS (Trade-Related Investment Measures): • Multilateral agreement under the World Trade Organization (WTO). • Aims to regulate trade-related investment measures that affect international trade and investment. • Prohibits certain trade-related investment measures that distort or restrict trade, such as local content requirements and trade-balancing requirements. • Requires member countries to ensure that their investment policies do not discriminate against foreign investors or give preferential treatment to domestic investors. • Provides a dispute settlement mechanism for resolving disputes related to TRIMS violations. • Designed to promote transparency, non-discrimination, and fair competition in investment policies. • Helps create a more conducive environment for international trade and investment by eliminating trade-distorting measures.
- 15. WTO AGREEMENTS-TRIPS • International agreement under the World Trade Organization (WTO). • Sets standards for protecting and enforcing intellectual property rights (IPRs). • Covers patents, trademarks, copyrights, and trade secrets. • Requires member countries to provide adequate protection and enforcement. • Includes provisions for dispute settlement. • Balances innovation promotion with access to essential goods/services. • Impact on access to medicines in developing countries is debated. • Shapes global intellectual property laws and policies.
- 16. WTO AGREEMENTS-GATS • GATS (General Agreement on Trade in Services): • Multilateral agreement under WTO for liberalizing international trade in services. • Covers various sectors like finance, telecommunications, and transportation. • Requires member countries to provide market access and national treatment to foreign service providers. • Allows negotiation of specific commitments for liberalization. • Includes mechanisms for dispute settlement and consultation. • Promotes transparency and protection of domestic regulatory autonomy.