The Role Of International Organisations In Global Trade

The World Trade Organization

The World Trade Organization (WTO) is an international agency contain 162 member that are countries, one of their main purposes is to develop international trading. It has started to be associated with globalisation in addition, is also a repeated target for critic of the process. The WTO was made in 1995, this is when it took over the function which General Agreement on Tariffs and Trades had. Vodafone and Lays/Walkers can be provided with a forum of negotiations to lower the obstacles to international commerce as well as to manage and conduct a system of regulations linking to trade. This makes it easier for both businesses to expand their company without such as hassle of how business is going to be run in order for it to be successful.

Customs Unions and common markets

Customs union and common markets of a trade agreement where a specific group countries impose a set of familiar tariffs to the whole while, allowing free trade between each other. It is a biased form of economic integration that offers an midway step free-zones, this is when free trade but lack a common tariff system is allowed and common markets, this is when free movement is allowed when responses such as labour are involved between member countries (a custom union is a free-trade zone with common tariffs). Vodafone and Lays/Walkers can use this a trade agreement when imposing a set of tariffs when selling their products and services to different countries meaning they are doing this safely and not go against any regulations.

The European Union (E. U)

The European union which is also known as the EU for short, is na economic and political union with 28 member states which are located mainly in Europe. The land has a population is 510 million. The union has developed significantly as an internal single, keeler through a standardised system of laws which apply to any member in the EU. Their aim is to ensure the free movement of goods, people, services and capital within the inner market. Vodafone and Lays/Walkers cam trade in the EU since it is a political union therefore it will be wiser for the trade across Europe. This means it will not as time consuming and will also be cheaper for both business when selling their products and service to different countries within the EU.

Mercosur

Mercosur is known as political and economic bloc balancing Brasil, Paraguay, Argentina, Venezuela and Uruguay. The bloc saw some early success including a tenfold increase trade within the group in the 1990s. Brazil and Argentina were also seeking to improve relations. This allows both businesses Vodafone and Lays/Walkers to sell their products and service is mercosur more easily than if it this political and economic bloc would not be created.

Free Trade Areas

Free trade area is a group of countries that agree to settle tariffs and other imports restrictions between each other's goods meanwhile, each country which is involved applies for its own independent schedule when it comes to tariffs and import from other countries which are not member, for example free trade area is actually NAFTA between Canada, Mexico and the US. it is region wow enclose a trade bloc whose number countries have signed an agree involving tree trade which is also known as FTA. this particular agreement involves cooperation with two or more different countries to lower trade barriers if my not chosen businesses which are Vodafone and Lays/walker decide be involved with the FTA it will reduce trade barriers for them as well as increase the trade of goods a services between them and a different countries they are planning to trade with. This means there is a high possibility of them trading successfully because of their involvement with Free Trade Area.

NAFTA

The North American Free Trade Agreement which is also known as NAFTA removes many tariffs on trade between the US, Canada and Mexico. This went into effect in 1994, its main aim is to motivate economic activity between North America’s three major economic powers. Many tariffs but mainly those which are related to autobiled, textiles and agriculture were after a period of time were carried out. Vodafone and Lays/Walkers can use this specific agreement when trying to eliminate tariffs in Mexico, US and Canada. This will reduce complications and also time of eliminating tariff if needed by business which makes it beneficial.

APECAPEC which also known as Asia-Pacific Economic forum has around 21 member, the APEC includes many economic of the region and some of the most fast growing and fast growing economics internationally. APEC members have put together a gross domestic product which is over more than 15 trillion dollars as well as carrying out over 40% of world trade. In the past decade the APEC has become primary vehicle in the region to set economic cooperation and also open APEC now also encompasses economic and technical cooperation, business facilitation, trade liberalization, youth and women. Vodafone and Lay/walkers can find this specific c trading bloc beneficial since it is less time consuming when wanting to trading near the Asia pacific, both business will also have an assurance that their business will run successfully since APEC has grown quite fastly economically.