Explore tens of thousands of sets crafted by our community.
International Trade Law
20
Flashcards
0/20
Trade Liberalization
The process of reducing tariffs and other trade barriers to enable more open and competitive markets.
Trade Facilitation Agreement (TFA)
A WTO agreement aimed at expediting the movement, release, and clearance of goods across borders.
Most Favored Nation (MFN) Principle
The non-discriminatory trade policy, obligating WTO members to grant all members the same trade advantages as the 'most favored' one.
Intellectual Property Rights (TRIPS)
An international legal framework for the protection of intellectual property rights, critical for trade in ideas and creativity.
National Treatment Principle
A key obligation ensuring imported goods are treated no less favorably than domestically produced goods.
Customs Valuation Agreement
A WTO agreement that provides a fair, uniform, and neutral system for the valuation of goods for customs purposes.
Prohibition of Quantitative Restrictions
A rule against using quotas, import/export licenses, or other measures to limit quantities of traded goods.
Subsidies and Countervailing Measures
The SCM Agreement oversees the use of subsidies, and regulates the actions countries can take to counter the effects of subsidies.
Generalized System of Preferences (GSP)
Developed countries give preferential duty-free entry for certain products from developing countries to enhance their economic growth.
World Trade Organization (WTO)
The primary international body promoting and regulating trade between its member countries, successor to the GATT.
Dispute Settlement Understanding (DSU)
A WTO mechanism for resolving trade disputes through a formal process to ensure countries' adherence to agreements.
Technical Barriers to Trade
A WTO agreement aiming to ensure that regulations, standards, testing, and certification processes do not create unnecessary obstacles to trade.
Economic Integration Agreements
Preferential trade agreements between countries that reduce trade barriers and increase economic cooperation.
Export Controls
Government measures that regulate or restrict the export of certain goods, services, and technology for reasons such as national security or foreign policy.
Anti-Dumping Measures
WTO provisions allowing governments to act against imports being sold at below cost to gain market share and harm domestic industries.
Government Procurement Agreement (GPA)
A plurilateral WTO agreement ensuring open, fair and transparent conditions of competition in the government procurement sector.
Balance of Payments (BoP)
Provisions allowing countries to apply restrictive trade measures for preserving their foreign reserves and stabilizing their financial systems.
Transparency and Predictability
Legal requirements for states to publish trade regulations and maintain stability to facilitate international commerce.
Sanitary and Phytosanitary Measures
These WTO measures ensure food safety, and animal and plant health standards are met without creating unnecessary trade barriers.
Environmental Goods Agreement (EGA)
An initiative to eliminate tariffs on sustainable and environmentally beneficial goods, still under negotiation among participating WTO members.
© Hypatia.Tech. 2024 All rights reserved.