This document defines and explains several key terms related to international trade and economic integration between nations. It provides Spanish definitions for terms like preferential agreements, tariffs, economic openness, trade balance, bilateralism, internal trade, costs, market studies, factor endowments, investment, trade liberalization, free trade, import licenses, common markets, mercantilism, state monopolies, rules of origin, tariff preferences, economic unions, absolute advantage, comparative advantage, and free trade areas. The document is from a Colombian university and appears to provide foundational concepts for students studying international economics and trade.

1. San Mateo Educación Superior
Facultad De Ciencias Administrativas y Afines
Bogotá D.C
2016

2.  Acuerdos Prefrenciales - Preferential agreements: Is the act of two or more
nations where grant each other favorable conditions in trade and customs
matters in favor of free trade.
 Ad Valorem – Ad Valorem: Tariffs charged depending on the percentage of
the goods
 Apertura Económica - Economic Openness: Process through which the
economy adjusts to the new market realities and social relations, as well as
global trade and technological change.
 Aranceles – Tariffs: It is a tax that is charged directly to the products which
are the subject of import

3.  Balanza Comercial - Trade Balance : The trade balance is the registration of
imports and exports of any country for a period and is one of the components
of the balance of payments
 Barreras No Arancelarias - Non-tariff Barriers: Laws and regulations that
restrict trade in certain goods.
 Bilateralismo – Bilateralism : It is the exchange of goods and services
between two countries through negotiations or governmental agreements.

4.  Comercio – Trade : It is called trade consistent socio-economic activity in the
exchange of some materials that are free in the market for buying and selling
goods and services, whether for use, for sale or processing
 Comercio Interno – Internal Trade : commercial activities within a particular
region where marketing a series of products or services develops.
 Comercio Interregional – Interregional Trade : Commercial activities
conducted between two or more regions that produce goods and services of
mutual interest.
 Contingentes - Contingent : They are quantitative barriers that limit the
amount of product that sets the government granting import licenses
narrowly.

5.  Convenio de Kyoto - Kyoto Convention : It is an international agreement
taken in 1997 in the field of United Nations seeks to curb climate change.
 Cooperación Bilateral - Bilateral Cooperation: It is one in which two
countries or institutions of two countries, these relationships are made from
government to government, through embassies or agencies involved, which
act as instances of cooperation.
 Cooperación Financiera - Financial Cooperation: It is offered by some
sources, through the allocation of financial resources in order to support
development projects. It is divided into refundable and non-refundable.
 Cooperacion Internacional – International Cooperation: It is the joint action
to support economic and social development of a country, through transfer of
technology, knowledge, experience or resources from countries with equal or
greater level of development.

6.  Cooperación Triangular - Triangular Cooperation: It is a mixed type of
International Cooperation, which combines traditional or vertical cooperation
with South-South cooperation, to provide cooperation to a third country
developing
 Costos – Costs: It is the monetary value of the consumption of factors that
involve the exercise of an economic activity for the production of a good, service
or activity.
 Criterios de Origen- Criteria Of Origin: The origin criteria can be defined in
two ways. On the one hand, it can be found that the product is extracted, born,
harvested or wholly obtained without the participation of imported items or of
unknown origin. Another case that can occur is that the product is manufactured
with raw materials, parts or components imported, plus domestic inputs. When
this occurs, so that the product qualifies as originating must have undergone a
major transformation to convert it into a finished product completely different
purposes and uses of raw materials, parts and other materials imported.

7.  Desgravaciones – Allowances: They are reductions in taxes are made
directly or gradually.
 Dotacion de Factores - Factor Endowments: It is the set of strengths that
a country has in relation to capital, labor and natural resources.


8.  Estudio de Mercado – Market: It consists of a business initiative in order to
get an idea about the commercial viability of an economic activity.

9.  Factores – Factors: Are the resources that contribute to the creation of a
product. Some free goods production also contribute to land and labor are
the capital.

10.  Globalizacion- Globalization : Globalization is a term that is closely related
to the word integration (integration of countries, regions, markets, economies,
customs, etc.), and is a process that has been occurring worldwide, in which
many aspects of human life in some places it has been linking and
interconnecting with others and in general, with the whole world.
 Gravamen – Lien: It is a tax that the government fixed income products
within the National Customs Territory.

11.  Integracion Economica – Economic Integration: Economic integration
involves economic agreements between countries in order to generate more
free traffic of capital flows, labor, goods and / or services between those
countries.
 Integración Social - Social Integration: Social integration is a social
process of inclusion of marginalized groups in society. Social integration is
based on social equality and its top human development.
 Inversion – Investment : It is an economic term with several meanings
related to savings, capital location, and the postponement of consumption.

12.  Liberacion Comercial - Trade Liberalization: It refers to the process of
reduction or elimination of restrictions on international trade.
 Libre Comercio – Free Trade : Free trade involves the removal of artificial
barriers to trade between individuals and companies from different countries.
 Licencia de Importacion - Import License: It is an authorization of
preconditions to import certain goods in order to limit and restrict the
quantity of imports.


13.  Mercado Común - Common Market: A common market is a type of trade
bloc consisting of a combination of customs union and free trade zone.
 Mercantilismo – Mercantilism: It is the set of economic policies that had as
its foundation the market and mentioned that the real wealth of nations was
in the amount of gold or silver that could accumulate in their trade with the
rest of the world.
 Monopolio Estatal - State Monopoly: Those organizations and public
companies in which the government has absolute participation in the
determination of prices of goods and services as well as an absolute market
dominance.

14.  Networking – Networking :Attend activities and events in order to increase
their professional network and seek business opportunities.
 Normas de Origen - Rules of Origin: The rules of origin are those agreed by
the countries that sign trade agreements and treaties or that are defined
unilaterally by countries in order to promote the trade of developing
countries.

15.  Preferencias Arancelarias - Tariff Preferences: Total or partial deductions
that a country applies to its national tariff, exclusively for one or more other
countries that are partners in a particular type of agreement.
 Pruebas Documentales - Documentary Evidence: The documentary
evidence refers to a document where standards or criteria that must be met
for a product to benefit from the preferential benefits of a particular
agreement is mainly directed.

16.  Recursos – Resources: A resource is a source or supply which produces a
profit.
 Registro de Importations - Import Registration: They are an
administrative procedure by which an application for introduction into the
customs territory of a commodity to be imported is presented.

17.  Subvenciones- Grants: It is a state financial support provided to producers
or traders.

18.  Tratado - Treaty : Closing or completion of a negotiation or dispute, having
discussed and reached an agreement.
 Tratado de libre comercio TLC - Free Trade Agreement (FTA): It is a
binding trade agreement signed two or more countries to agree on mutual
granting of tariff preferences and reducing non-tariff trade barriers in goods
and services.

19.  Union Aduanera – Customs Union :A customs union is a free trade area
that also establishes a common external tariff; ie that member states
establish a common trade policy towards states that are not members.
 Union Economica – Economic Union: It is a higher form of integration
which represents the common market. Add to this a greater degree of
harmonization of national economic policies in an attempt to eliminate
discrimination that can result from disparities in these policies.

20.  Ventaja Absoluta - Absolute Advantage: The absolute advantage is the
ability you have to produce a good using less input to another producer, ie
the absolute advantage is present when something or someone is the best
developing this activity at a lower cost.
 Ventaja Comparativa – Comparative Advantage: It is when a country
specializes in the production of a commodity with a relatively lower cost
compared to the rest of the world in which they are comparatively more
efficient.
 Vistos Buenos – Clearances: Permits required for the importation of certain
goods

21.  Zona de Libre Comercio - Free Trade Area: It is an area of a country where
some of the trade barriers such as tariffs and quotas are eliminated and
bureaucratic procedures are reduced with the aim of attracting new business
and foreign investment.