A B C D E F G H I J K L M N O P Q R S T U V W Z
Ec Ef Em En Eu Ex

Economic integration

Economic integration has been one of the main economic developments affecting international trade in the last years. Countries have wanted to engage in economic cooperation to use their respective resources more effectively and to provide large markets for member-countries of…

Read More

Economic union

An economic union is the last step in an economic integration process. The previous ones are: free trade area, customs union and common market. In addition to free movement of goods, services and production factors, it also requires integration of…

Read More

EFTA

The European Free Trade Association is an intergovernmental organization set up for the promotion of free trade and economic integration to the benefit of its four Member States: Iceland, Liechtenstein, Norway and Switzerland.

Read More

Embargo

A prohibition upon export or imports, either with respect to specific products or specific countries. Historically, embargoes have been ordered most frequently in time of war, but they may also be applied for political, economic or sanitary reasons. Embargoes, imposed…

Read More

Enabling clause

The decision on Differential and More Favourable treatment, Reciprocity and Fuller Participation of Developing Countries made at the GATT Tokyo Round, permits developed counties to extend preferences to developing countries without violating the most-favoured-nation treatment agreements.

Read More