Term Paper On "Global Business Arena": Submitted To

Term Paper on “Global Business
Arena”
Submitted to:
Professor Dr. M. Mahmodul Hasan

Faculty of MBA Program.
International Business -BUS 685
North South University
Submitted by:
Name ID
Khaza Mahbub 1421300 060
Md. Jahangir Alam 1520003690
Omaer Ahmed 1411789 060
Taslina Shahrin 1411917660
Sheikh Md Shahabuddin 1130050090
Boom Al Habibi
Section: 03
Date of Submission
11th December, 2015.
Term Paper on “Global Business Arena”
Submitted to:

Faculty of MBA Program.
International Business -BUS 685
North South University
Submitted by:
Boom Al Habibi
Section: 03
Date of Submission
11th December, 2015.
Letter of Transmittal
11th December, 2015

Bus620, MBA Program
North South University- 1229.
Subject: Prayer for Submission of the Term Paper on ‘Global

Business Arena’
Dear Sir,
We all have had immense pleasure to work on this report on ‘Global
Business Arena’. This report has been prepared by a group of 4 people as
a part of the course (International Business) requirement. It is prepared
after having extensive overall analysis of the research areas of different
noted countries of the world. We have tried our level best to follow your
guidelines in every aspects of preparing this project.
The report has given us an opportunity to apply theoretical knowledge in

real world. It also has given us a glimpse of our individual understanding
and skills in various situations. We sincerely hope that you will admire
our teamwork.
Sincerely yours,
Name Signature
Khaza Mahbub
Md. Jahangir Alam
Omaer Ahmed
Taslina Shahrin
Sheikh Md Shahabuddin
Acknowledgement
At the beginning of our acknowledgement section of this term paper

report, we must show our gratitude to the almighty Allah for giving us
enough courage and strength to prepare the report in due time. Without
his continuous blessings it wouldn’t be possible to finish this term paper.
Our humble gratitude is must for our honourable faculty Professor DR.
M. Mahmodul Hasan who gave us the opportunity to do conduct this
report and providing his continuous support and instruction, which
helped us to carry our work forward. His guidelines were so effective and
obvious that it made our work easier and direct us to the right way. It’s
only his contribution, for which we never got lost focus while working on
this term paper report. Last but not the least we would like to thank our
all group members who worked so hard to prepare the report by due
time and make the report successful.
Executive Summary
International trade is integral to the process of globalization. Over many

years, governments in most countries have increasingly opened their
economies to international trade, whether through the multilateral trad-
ing system, increased regional cooperation or as part of domestic reform
programmes. Trade and globalization more generally have brought enor-
mous benefits to many countries and citizens. Trade has allowed nations
to benefit from specialization and economies to produce at a more ef-
cient scale. It has raised productivity, supported the spread of knowledge
and new technologies, and enriched the range of choices available to
consumers. But deeper integration into the world economy has not al-
ways proved popular, nor have the benefits of trade and globalization
necessarily reached all sections of society. Trade scepticism is on the rise
in certain quarters, and the purpose of this year’s core topic of the World
Trade Report, entitled “Trade in a Globalizing World”, is to remind our-
selves of what we know about the gains from international trade and the
challenges arising from higher levels of integration.
We ask why some countries have managed to take advantage of falling
trade costs and greater policy-driven trading opportunities while others
have remained largely outside international commercial relations. We
also consider who the winners and losers are from trade in society and
what complementary action policy-makers need to take in order to secure
the benefits of trade for society at large. In examining these complex and
multi-faceted questions, the Report reviews both the theoretical trade lit-
erature and empirical evidence that can help to give answers to these
questions.
Table of Contents
Chapters Pages
1. By Country 1 - 14
2. By trade Block 15 - 27
3. By Classification
3.1 Emerging market 28 - 32
32 - 36
3.2 Frontier Market
4. Doha Development Agenda (Trade
Topics) 37 - 42
5. F20, B20, C20, L20, T20, W20, 43 - 46

Y20
6. Recommendation 47
7. Conclusion 48
8. Reference 49
1. By Country
1.1. Japan
Japan is an island nation in East Asia. It is an archipelago of 6,852

islands, most of which are mountainous and many are volcanic.
1.1.1. Economy
I
nL
ce
v
o
e
ml
e
o
Lf
e
vD
ee
v
l
e
(l
bo
yp
m
pe
n
et
r
D
ce
av
pe
l
i
o
tp
ae
d
G
N
I
)
H
i
g
h
I
n
c
o
m
e
EW
ch
oi
nl
oe
m
is
ce
l
Tf
r-
is
vu
if
af
i
c
i
e
n
t
i
n
r
i
c
e
p
r
o
d
u
c
t
i
o
n
,
J
a
p
a
n
i
m
p
o
r
t
s
a
b
o
u
t
6
0
%
o
f
i
t
s
f
o
o
d
o
n
c
a
l
o
r
i
c
b
a
s
i
s
.
T
To
rp
a
d3
e
T
r
a
d
e
P
a
r
t
n
e
r
s
:
C
h
i
n
a
,
U
n
i
t
e
d
S
t
a
t
e
s
,
a
n
d
S
o
u
t
h
K
o
r
e
a
T
o
p
E
x
p
o
r
t
e
d
G
o
o
d
s
:
M
o
t
o
r
V
e
h
i
c
l
e
s
&
P
a
r
t
s
,
I
n
d
u
s
t
r
i
a
l
M
a
c
h
i
n
e
r
y
,
a
n
d
M
o
t
o
r
V
e
h
i
c
l
e
s
&
P
a
r
t
s
1.1.2. Culture
Location: Eastern Asia, island chain between the North Pacific Ocean
and the Sea of Japan/East Sea, east of the Korean Peninsula.
Capital: Tokyo
Population: 127,333,002 (July 2004 est.)
Religions: Buddhist 84%, other 16% (including Christian 0.7%)
Japanese Society & Culture
 Saving face is crucial in Japanese society.

 The Japanese believe that turning down someone's request causes
embarrassment and loss of face to the other person.
1.1.3. Trade
Imports of goods and services
$934,277 million (2013)
(current US$)
Exports of goods and services
$794,578 million (2013)
(current US$)
Total Merchandise Trade (%
32.731% (2014)
of GDP)
1.1.4. Trade Statistics
Total Trade
Total Exports (2014) $683,845,619,829

Total Imports (2014) $822,251,111,961
Trade Balance (2014) -$138,405,492,132
INDICES: No relevant indices.
Corruption Perceptions Index (CPI): Japan ranks 15th with a score of

76.
1.2. Malta
Malta is a southern European country and consists of an archipelago. It is

situated centrally in the Mediterranean Sea, south of Sicily, Italy.
1.2.1. Economy
Income Level
Level of Development Developed
(by per capita GNI) High Income
Economic Trivia Malta has the smallest economy in the euro
zone.
Top 3 Trade Partners: Italy, Germany, and
Trade France
Top 3 Exported Goods: Oil & Mineral
Fuels, Oil & Mineral Fuels, and Electrical
Machinery
1.2.2. Culture
NAME: Malta
LOCATION: Europe
GOVERNMENT: Republic
OFFICIAL Maltese (ofcial), English (ofcial)
LANGUAGE:
MAJOR Roman Catholic 98%
RELIGION(S):
1.2.3. Trade:

$8,270 million (2011)
(current US$)
$8,708 million (2011)
(current US$)
Total Merchandise Trade (% of GDP) 101.418% (2013)
Total Trade
Total Exports (2013) $5,206,239,198
Total Imports (2013) $7,525,360,714
Trade Balance (2013) -$2,319,121,516
Corruption Perceptions Index (CPI): Malta ranks 42nd with a score of

55.
1.3. Australia
Australia is a country in Oceania bordering the Indian Ocean and the

Southern Pacific Ocean. The terrain is mostly low plateau with deserts.
1.3.1. Economy
Income Level
Australia has been ranked as having the

Economic Trivia largest median wealth in the world.
Top 3 Trade Partners: China, Japan, and

Trade United States
Top 3 Exported Goods: Ores, Oil &
Mineral Fuels, and Ores
1.3.2. Culture
Location: Oceania, continent between the Indian Ocean and the South
Pacific Ocean.
Capital: Canberra
Population: 20,264,082 (2006 estimate)
Religions: Catholic 26.4%, Anglican 20.5%, other Christian 20.5%,
Buddhist 1.9%, Muslim 1.5%, other 1.2%, unspecified 12.7%, none
15.3%.
Australia Society & Culture
 Australians are very down to earth and always mindful of not giv-
ing the impression that they think they are better than anyone
else.
 They value authenticity, sincerity, and loathe pretentiousness.
1.3.3. Trade

$311,362 million (2014)
(current US$)
$304,088 million (2014)
(current US$)
Total Trade
Total Exports (2014) $240,444,683,862

Total Imports (2014) $227,544,231,345
Trade Balance (2014) $12,900,452,517
Corruption Perceptions Index (CPI): Australia ranks 11th with a score

of 80.
1.4. Bangladesh
Bangladesh is a country in Southern Asia. It is located on the Bay of

Bengal and is bordered by India on all sides except for a small border
with Burma.
1.4.1. Economy
Income Level
Level of Development Developing
(by per capita GNI) Lower Middle
Income
Although more than half of GDP is

Economic Trivia generated through the service sector, 45%
of Bangladeshis are employed in the
agriculture sector with rice as the single-
most-important product.
Top 3 Exported Goods: Data unavailable

Trade
Top 3 Exported Goods: Apparel: Knit,
Apparel: Non Knit, and Textile Articles
1.4.2. Culture
Facts and Statistics
Location: Southern Asia, bordering the Bay of Bengal, between Burma
and India
Capital: Dhaka
Population: 147,365,352 (2006 estimate)
Religions: Muslim 83%, Hindu 16%, other 1%.
Bangladesh Society & Culture
 Bangladesh is a hierarchical society.
 People are respected because of their age and position.
 Bangladeshis identify with the folk traditions of Bengali culture.
 Islam defines many of the festivals in Bangladesh.
1.4.3. Trade
$43,854 million (2014)
(current US$)
$34,344 million (2014)
(current US$)
Total Trade
Total Exports (2011) $24,313,744,246

Total Imports (2011) $41,221,651,783
Trade Balance (2011) -$16,907,907,537
Corruption Perceptions Index (CPI): Bangladesh ranks 144th with a

score of 25.
1.5. Brazil
Brazil is the largest country in South America bounded by the Atlantic

Ocean. A geographically large country, the terrain includes lowlands,
hills, and some mountains.
1.5.1. Economy
I
L
n
e
cv
e
o
l
m
eo
f
LD
e
ev
ve
l
eo
lp
m
(e
bn
t
y
D
e
pv
e
e
l
ro
p
ci
n
a
g
p
i
t
a
G
N
I
)
U
p
p
e
r
M
i
d
d
l
e
I
n
c
o
m
e
EB
cr
oa
nz
oi
ml
i
ch
a
Ts
r
it
vh
ie
a
l
a
r
g
e
s
t
e
c
o
n
o
m
y
i
n
S
o
u
t
h
A
m
e
r
i
c
a
.
T
To
rp
a
d3
e
E
x
p
o
r
t
e
d
G
o
o
d
s
:
C
h
i
n
a
,
U
n
i
t
e
d
S
t
a
t
e
s
,
a
n
d
A
r
g
e
n
t
i
n
a
T
o
p
E
x
p
o
r
t
e
d
G
o
o
d
s
:
O
r
e
s
,
O
r
e
s
,
a
n
d
O
i
l
&
M
i
n
e
r
a
l
F
u
e
l
s
1.5.2. Culture
Location: Eastern South America bordering Argentina, Bolivia,
Colombia, French Guiana, Guyana, Paraguay, Peru, Suriname, Uruguay,
Venezuela.
Capital: Brazilia
Population: 184,101,109
Religions: Roman Catholic (nominal) 80%
Brazil Society & Culture
 Brazil is a mixture of races and ethnicities, resulting in rich diver-

sity.
 The family is the foundation of the social structure and forms the
basis of stability for most people.
 Class is determined by economic status and skin colour.
1.5.3. Trade
$43,854 million (2014)
(current US$)
$34,344 million (2014)
(current US$)
Total Trade
Total Exports (2011) $24,313,744,246

Total Imports (2011) $41,221,651,783
Trade Balance (2011) -$16,907,907,537
Corruption Perceptions Index (CPI): Brazil ranks 68th with a score of

43.
1.6. China
China is a country in East Asia bordering the East China Sea, Korea Bay,
and South China Sea. China has a diverse terrain with mostly mountains
along with deserts in the west and plains in the east.
1.6.1. Economy
Income Level
(by per capita GNI) Upper Middle
Income
China is the world leader in gross value of

Economic Trivia agricultural and industrial outputs.
Top 3 Exported Goods: United States,
Trade Hong Kong, and Japan
Top 3 Exported Goods: Electrical

Machinery, Electrical Machinery, and
Industrial Machinery
1.6.2. Culture
Location: Eastern Asia bordering Afghanistan, Bhutan, Burma, India,
Kazakhstan, North Korea, Kyrgyzstan, Laos, Mongolia, Nepal, Pakistan,
Russia (northeast), Russia (northwest), Tajikistan, Vietnam.
Capital: Beijing
Population: 1,298,847,624 (July 2004 est.)
Religions: Daoist (Taoist), Buddhist, Muslim 1%-2%, Christian 3%-4%
China Society & Culture
 Greetings are formal and the oldest person is always greeted

first.
 The Chinese like food and a nice food basket will make a great
gift.
 Do not give flowers, as many Chinese associate these with funer-
als.
 Business relationships are built formally after the Chinese get to
know you.
1.6.3. Trade
$1,960,199 million (2014)
(current US$)
$2,342,541 million (2014)
(current US$)
Total Trade
Total Exports (2011) $2,209,007,280,259

Total Imports (2011) $1,949,992,314,705
Trade Balance (2011) $259,014,965,554
Corruption Perceptions Index (CPI): China ranks 99th with a score of

36.
1.7. India
India is located in Southern Asia bordering the Arabian Sea and the Bay
of Bengal. Neighbouring countries include Bangladesh, Bhutan, Burma,
China, Nepal, and Pakistan.
1.7.1. Economy
Income Level
(by per capita GNI) Lower Middle
Income
India has the third largest economy in terms

Economic Trivia of PPP in the world.
Top 3 Exported Goods: United Arab

Trade Emirates, China, and United States.
Top 3 Exported Goods: Oil & Mineral

Fuels, Oil & Mineral Fuels, and Precious
Stones & Metals.
1.7.2. Culture
Location: Southern Asia, bordering Bangladesh, Bhutan, Burma, China,
Nepal, Pakistan.
Capital: New Delhi.
Population: 1,065,070,607 (July 2004 est.)
Religions: Hindu 81.3%, Muslim 12%, Christian 2.3%, Sikh 1.9%, other
groups including Buddhist, Jain, Parsi 2.5% (2000)
India Society & Culture
 People typically define themselves by the groups to which they

belong rather than by their status as individuals..
 Religion, education and social class all influence greetings in In-
dia.
 Indians entertain in their homes, restaurants, private clubs, or
other public venues, depending upon the occasion and circum-
stances.
1.7.3. Trade
$536,657 million (2014)
(current US$)
$487,653 million (2014)
(current US$)
Total Trade
Total Exports (2014) $317,544,642,255

Total Imports (2014) $459,369,463,604
Trade Balance (2014) -$141,824,821,349

Corruption Perceptions Index (CPI): India ranks 84th with a score of
38.
1.8. USA:
The United States is a country located in North America bordering the

Atlantic Ocean and Pacific Ocean.
1.8.1 Economy
Income Level
Economic Trivia Imported oil accounts for nearly 55% of US

consumption.
Top 3 Trade Partners: Canada, China, and

Trade Mexico
Top 3 Exported Goods: Industrial

Machinery, Industrial Machinery, and
Electrical Machinery
1.8.2. Culture
Location: North America, bordering both the North Atlantic Ocean and
the North Pacific Ocean, between Canada and Mexico
Capital: Washington, DC.
Religions: Protestant 52%, Roman Catholic 24%, Mormon 2%, Jewish
1%, Muslim 1%, other 10%, none 10% (2002 est.)
USA Society & Culture
 Greetings are casual.

 A handshake, a smile, and a 'hello' are all that is needed.
 Maintain eye contact during the greeting.
 In most situations, you can begin calling people by their first
names.
1.8.3. Trade

FDI, net inflows (BoP, current US$) $131,829 million (2014)
Commercial Service Exports (current
$685,577,000,000 (2014)
US$)
Total Trade
Total Exports (2014) $1,622,657,460,716

Total Imports (2014) $2,408,098,712,032
Trade Balance (2014) -$785,441,251,316
Corruption Perceptions Index (CPI): U.S.A. ranks 17th with a score of
74.
1.9. UK
United Kingdom is an island country spanning an archipelago including

Great Britain located in Western Europe comprised of England, Scotland,
Wales, and Northern Ireland.
1.9.1. Economy
Income Level
The UK produces about 60% of food needs

Economic Trivia with less than 2% of the labour force.
Top 3 Trade Partners: Germany, United

Trade States, and Netherlands.
Top 3 Exported Goods: Industrial

Machinery, Industrial Machinery, and Oil &
Mineral Fuels.
1.9.2. Culture
Location: Western Europe, islands including the northern one-sixth of
the island of Ireland between the North Atlantic Ocean and the North
Sea, northwest of France.
Capital: London.
Religions: Christian (Anglican, Roman Catholic, Presbyterian,
Methodist) 71.6%, Muslim 2.7%, Hindu 1%, other 1.6%, unspecified or
none 23.1% (2001 census)
UK Society & Culture
 The British might seem a little stiff and formal at first.

 Avoid prolonged eye contact as it makes people feel uncomfort-
able.
 This is often a class distinction, with the 'upper class' holding on
to the long-standing traditions:
1.9.3. Trade
$887,641 million (2014)
(current US$)
$834,035 million (2014)
(current US$)
Total Trade
Total Exports (2014) $511,283,275,613
Total Imports (2014) $687,269,929,235
Trade Balance (2014) -$175,986,653,622
Corruption Perceptions Index (CPI): U. K ranks 14th with a score of

78.
1.10. U.A.E
United Arab Emirates is a country located in the Middle East bordering

the Gulf of Oman and the Persian Gulf.
1.10.1. Economy
Income Level
Economic Trivia The United Arab Emirates is ranked as one

of the most developed countries in Western
Asia.
Trade Top 3 Exported Goods: Oil & Mineral

Fuels, Items nesoi, and Precious Stones &
Metals.
1.10.2. Culture
Location: Africa & The Middle East.
Religions: Muslim 96% (Shi'a 16%), other (includes Christian, Hindu)
4%.
U.A.E. Society & Culture
 Emiratis tend to favor an indirect style of communication over a

direct style. Avoiding confrontation and saving face is paramount.
 Being tactful and less direct when communicating is appreciated.
1.10.3. Trade
$345,924 million (2014)
(current US$)
$399,530 million (2014)
(current US$)
Total Trade
Total Exports (2011) $252,556,000,001

Total Imports (2011) $210,944,999,999
Trade Balance (2011) $41,611,000,002
Corruption Perceptions Index (CPI): U.A.E. ranks 25th with a score of

70.
2. By trade Block
Membership and Summary of Related Agreement
2.1. ANCOM
The Andean Community, or ANCOM, was established in 1969 within the
Cartagena Agreement to create an integrated and cooperative system
that tends towards a balanced, harmonious, and shared economic
development within the Andean region of South America.
Related Agreements:
Agreement Agreement Regions Composition Coverage Date of Date of
Name Types Signature Entry into
Force
ANCOM- Free Trade South Plurilateral Goods & April 16, August 16,
MERCOSUR Agreements America Services 1998 1999
ANCOM-EU Preferential Europe; Plurilateral Goods & June 1, March 1,

Trade South Services 2012 2013
Agreements America
2.2. APEC
The Asia-Pacific Economic Cooperation, or APEC, is the premier forum

for facilitating economic growth, cooperation, trade, and investment in
the Asia-Pacific region.
Membership:
Country Year Imports within Percent of Exports within Percent of
Joined Bloc Total Bloc Total
Imports Exports
from Trade from Trade
Bloc Bloc
Members Members
Australia 1989 $172,137,865,69 33.11 % $199,266,214,10 39.35 %
6 3
Brunei 1989 $3,073,525,491 34.99 % $11,773,386,886 43.55 %
Canada 1989 $354,691,844,64 26.61% $389,539,516,00 25.43 %
3 0
Chile 1994 $45,774,336,502 27.15 % $48,438,665,909 31.48 %
China 1991 $1,031,334,392, 30.18% $1,270,011,738, 31.63%
020 420
Hong Kong 1991 $430,771,727,72 38.41% $399,223,120,82 39.93%
3 4
Indonesia 1989 $142,628,337,90 34.26% $133,693,029,57 33.15%
2 9
Japan 1989 $547,334,225,74 29.79% $573,856,937,06 33.18%
2 1
Korea, South 1989 $292,386,216,28 27.89% $381,319,164,83 34.24%
3 5
Malaysia 1989 $140,019,636,20 34.13% $168,000,328,88 34.82%
5 8
Mexico 1993 $301,912,035,24 28.33% $317,087,086,88 24.75%
6 0
New Zealand 1989 $27,129,775,546 33.65% $26,318,815,501 35.13%
Papua New 1993 $7,353,822,870 39.81% $3,228,022,486 38.12%
Guinea
Peru 1998 $24,201,797,841 27.98% $25,216,268,167 28.47%
Philippines 1989 Unavailable Unavailabl Unavailable Unavailabl
e e
Russia 1998 $107,451,973,65 22.98% $88,163,981,332 13.43%
9
Singapore 1989 $222,369,315,33 28.36% $296,609,843,89 37.43%
0 7
Taiwan 1991 Unavailable Unavailabl Unavailable Unavailabl
e e
Thailand 1989 $160,245,313,59 32.47% $153,750,400,10 32.78%
8 5
United 1989 $1,453,507,858, 31.55% $917,209,369,06 29.84%
States 850 7
Vietnam 1998 $85,740,984,448 38.16% $75,962,495,092 31.52%
Total Trade within Bloc:
1,600,000,000,000.00
1,400,000,000,000.00
1,200,000,000,000.00
Year Joined Imports within Bloc
1,000,000,000,000.00
800,000,000,000.00
600,000,000,000.00
Percent of Total Imports from Trade Bloc Members Exports within Bloc
400,000,000,000.00
200,000,000,000.00
0.00 of Total Exports from Trade Bloc Members

Percent
2.3. APTA
The Asia-Pacific Trade Agreement (APTA) was signed in 1975 as an

initiative of the United Nations Economic and Social Commission for Asia
and the Pacific (ESCAP).
2.4. Arab League
The League of Arab States, also known as the Arab League, is a regional
organization consisting of Arab nations in the Middle East, Northern
Africa, and the Horn of Africa.
2.5. ASEAN
The Association of Southeast Asian Nations (ASEAN) was formed in 1967
by Indonesia, Malaysia, the Philippines, Singapore, and Thailand to
promote political and economic cooperation and regional stability.
Member Trade Data:

Country Year Imports Percent of Exports Percent of
Joine within Bloc Total within Bloc Total
d Imports Exports
from from
Trade Trade
Bloc Bloc
Members Members
Brunei 1992 $1,861,611,56 21.20 % $1,908,252,03 7.06 %
1 5
Cambodia 1999 $2,506,534,14 17.44 % $1,005,795,62 5.79 %
9 0
Indonesia 1992 $53,822,132,8 12.93 % $41,831,097,1 10.37 %
74 08
Laos 1997 Unavailable Unavailabl Unavailable Unavailabl
e e
Malaysia 1992 $54,766,153,4 13.35 % $60,919,761,3 12.63 %
05 97
Philippine 1992 Unavailable Unavailabl Unavailable Unavailabl
s e e
Singapore 1992 $79,800,497,0 10.18 % $129,831,251, 16.38 %
16 230
Thailand 1992 $42,622,805,5 8.64 % $56,732,360,0 12.09 %
31 95
Vietnam 1995 $20,820,336,4 9.27 % $17,426,526,9 7.23 %
42 89
Total Trade within Block:

250,000,000,000.00
200,000,000,000.00
Percent of Total Exports from Trade Bloc Members Exports within Bloc
150,000,000,000.00
100,000,000,000.00
Percent of Total Imports from Trade Bloc Members

50,000,000,000.00 Imports within Bloc
0.00
Year Joined
Related Agreement:

name types signature entry into
force
ASEAN - Free Oceani Plurilateral Goods & Februar April 1,
Australia Trade and a; East Services y 27, 2010
- New Economic Asia 2009
Zealand Integratio
n
Agreemen
ts
ASEAN - Preferenti East Bilateral Goods Novemb July 1,

China (G) al Trade Asia er 4, 2003
Agreemen 2002
ts
2.6. CARICOM
The Caribbean Community (CARICOM) is an organization founded by

Barbados, Jamaica, Guyana, and Trinidad & Tobago to promote economic
integration and cooperation.
Related Agreement:
Agreement Agreemen Region Composition Coverag Date of Date of
name t types s e signatur entry
e into
force
CARICOM - Free Central Bilateral Goods & July 24, January
Colombia Trade Americ Services 1994 1, 1995
Agreement a
s
EC - Free Central Plurilateral Goods Novemb Novemb

CARIFORUM Trade & Americ er 29, er 1,
States EPA Economic a 2015 2008
Integratio
n
Agreement
s
2.7. CEFTA
The Central European Free Trade Agreement (CEFTA) was established

on December 21, 1992 as a trade agreement by the Visgrad Group as a
trade agreement.
2.8. COMESA
The Common Market for Eastern and Southern Africa (COMESA) is a free
trade area that encompasses 20 countries stretching from Libya to
Zimbabwe.
Related Agreements:
Date of
Date of
Agreement Agreement Region Coverag Entry
Composition Signatur
Name Types s e into
e
Force
COMESA Economic
Africa
and the Integration Goods & June 23, April 1,
and Bilateral
European Agreements Services 2000 2003
Europe
Union
2.9. EAC
The EAC has had 3 names from its conception; the East African High
Commission from 1948 to 1961, East African Common Services
Organization from 1961 to 1967 , and then from 1967 to 1977 the East
African Community.
Related Agreements:
Date of
Date of
Agreeme Agreeme Region Compositio Coverag Entry
Signatur
nt Name nt Types s n e into
e
Force
Economic
Integratio
n Africa; Goods & October October
EAC-EU Plurilateral
Agreement Europe Services 16, 2014 16, 2014
s
2.10. EAEU
The Eurasian Economic Union is an international economic union of
countries located in northern Eurasia. The economic union was
established via the Treaty on the Eurasian Economic Union and entered
into force on January 1, 2015.
2.11. ECCAS
The Economic Community of Central African States (ECCAS) was

established in 1983 in order to achieve collective autonomy, raise the
standard of living of its populations, and maintain economic stability
through harmonious cooperation.
2.12. ECOWAS
The Economic Community of West African States (ECOWAS) is a regional

economic community with a surface area of 3.8 million square miles,
which encompasses 17% of the African continent.
Related Agreements:
Name Types Signature Entry
into
Force
Economic
ECOWAS Integratio
and the Africa
European
n Goods & June 23, April 1,
and Plurilateral
Union Agreemen Services 2000 2003
Europe
ts
2.13. EFTA
The European Free Trade Association (EFTA) is an intergovernmental

organization created in 1960 to promote free trade and economic
integration between Austria, Denmark, Norway, Portugal, Sweden,
Switzerland, and the United Kingdom.
Membership:
Joined within Bloc Total within Bloc Total
Imports Exports
Bloc Bloc
Members Members
Iceland 1970 $846,541,84 11.85 % $343,123,51 5.49 %
8 2
Liechtenstei 1991 Unavailable Unavailable Unavailable Unavailable
n
Norway 1960 $1,482,705,9 1.18 % $1,483,321,3 0.73 %
51 15
Switzerland 1960 $341,761,62 0.13 % $1,143,890,4 0.32 %
3 77

Iceland
Liechtenstein
Norway
Switzerland
Year Joined
Imports within Bloc
Percent of Total Imports from
Trade Bloc Members
Percent of Total Exports from
Trade Bloc Members
Related Agreements:
Date of
Agreement Agreement Date of Entry
Regions Composition Coverage
Name Types Signature into
Force
Europ
Free Trade e, Goods
EFTA-Canada January July 1,
Agreements North Bilateral &
26, 2008 2009
Americ Services
a
EFTA-Central Europ
Free Trade Goods
American e; Latin June 24, August
States
Agreements Plurilateral &
Americ 2013 19, 2014
Services
a
2.14. EUROPIAN UNION
The EU has developed a single market through a standardized system of

laws that apply in all of its member states. These policies aim to secure
the free movement of people, goods, services, and capital between its
member countries.
Membership
Country Year Imports Percent of Exports within Percent of
Joined within Bloc Total Bloc Total
($100000000) Imports ($100000000) Exports
Bloc Bloc
Members Members
Austria 1995 $117 56.88 % $106 51.74 %
Belgium 1952 $296 48.91 % $312 53.01 %
Bulgaria 2007 $156 34.03 % $156 50.23 %
Croatia 2013 $130 49.29 % $719 49.62 %
Cyprus 2004 $502 58.65 % $800 34.09 %
Czech 2004 $907 48.65 % $127 69.97 %
Republic
Denmark 1973 $649 56.47 % $612 44.22 %
Estonia 2004 $118 46.36 % $104 40.04 %
Finland 1995 $383 34.72 % $376 35.50 %
France 1952 $388 40.81 % $329 42.45 %
Germany 1952 $656 38.97 % $801 38.39 %
Greece 1981 $281 32.53 % $151 33.17 %
Hungary 2004 $666 54.73 % $798 65.67 %
Ireland 1973 $396 41.47 % $694 34.13 %
Italy 1952 $259 38.89 % $271 38.40 %
Latvia 2004 $124 66.36 % $873 58.08 %
Lithuania 2004 $183 40.96 % $179 48.14 %
Luxembourg 1952 $178 55.48 % $109 66.36 %
Malta 2004 $521 52.84 % $158 19.56 %
Netherlands 1952 $258 34.26 % $403 57.05 %
Poland 2004 $107 39.97 % $135 64.20 %
Portugal 1986 $464 51.62 % $407 55.57 %
Romania 2007 $517 62.95 % $407 61.50 %
Slovakia 2004 $392 38.03 % $671 73.56%
Slovenia 2004 $198 57.06 % $203 65.1%
Spain 1986 $160 34.70 % $174 47.84%
Sweden 1995 $111 54.13 % $961 40.91%
United 1973 $326 30.39 % $233 29.28%
Kingdom

1,600,000,000,000.00
1,400,000,000,000.00
1,200,000,000,000.00
1,000,000,000,000.00
800,000,000,000.00
600,000,000,000.00
400,000,000,000.00
200,000,000,000.00
0.00
Related Agreements:
Agreeme Agreement Regions Compositi Coverag Date Date of
nt name types on e of entry
signat into
ure force
EC- Economic Africa,Caribean, Plurilater Goods April1 April1,
(ACP) Integratio Europe,Pacific al & , 2003 2003
n Service
Agreemen s
ts
EC- Free Europe, Africa Bilateral Goods June June 1,

Egypt Trade 25, 2004
Agreemen 2001
ts
2.15. The Gulf Cooperation Council (GCC)
The Gulf Cooperation Council (GCC) is also known as the Cooperation

Council for the Arab States of the Gulf (CCASG).
Related Agreements:
Agreeme Agreemen Regions Compositio Coverag Date of Date
nt name t types n e signatur of
e entry
into
force
GCC- Free Europe, Bilateral Goods June 22, July 1,
EFTA Trade Middle & 2009 2014
Agreemen East Services
ts
2.16. MERCOSUR
MERCOSUR, also known as the Common Market of the South, is a trade

bloc agreement that exists between the following South American
countries: Argentina, Brazil, Paraguay, Uruguay, and Venezuela.
Membership
Joined Bloc Total Imports Bloc Total
from Trade Exports
Bloc Members from Trade
Bloc
Members
Argentina 1991 $18,970,367,4 15.94 % $22,068,105,5 17.15 %
10 01
Brazil 1991 $20,247,382,3 4.77 % $27,857,554,9 6.33 %
07 63
Paraguay 1991 $4,910,533,88 25.50 % $3,615,975,72 37.11 %
2 0
Uruguay 1991 $4,761,853,15 25.41 % $2,754,179,25 22.63 %
1 3
Venezuela 2012 Unavailable Unavailable Unavailable Unavailabl
e

30000000000
25000000000
Year Joined
20000000000
Imports within Bloc
15000000000 Percent of Total Imports from
Trade Bloc Members
Percent of Total Exports from
10000000000 Trade Bloc Members
Exports within Bloc
5000000000
0
Argentina Brazil Paraguay Uruguay Venezuela
2.17. North American Free Trade Agreement (NAFTA)
On January 1, 1994, the North American Free Trade Agreement (NAFTA)

between the United States, Canada, and Mexico entered force to create a
trilateral trading bloc in North America.
Membership

Joined Bloc Total Bloc Total
($1000000000) Imports ($1000000000) Exports
Bloc Bloc
Members Members
Canada 1994 $262 19.72% $343 22.40 %

Mexico 1994 $195 18.35% $299 23.35 %
United States 1994 $607 13.19 % $508 16.53 %

700,000,000,000.00
600,000,000,000.00
Year Joined Imports within Bloc
500,000,000,000.00
400,000,000,000.00
Percent of Total Imports from Trade Bloc Members Exports within Bloc
300,000,000,000.00
200,000,000,000.00
Percent of Total Exports from Trade Bloc Members

100,000,000,000.00
0.00
Canada Mexico United States
2.18. The Organization of Eastern Caribbean States (OECS)
The Organization of Eastern Caribbean States, or OECS, was founded on

June 18th, 1981 when seven Eastern Caribbean nations signed the Treaty
of Basseterre, in which they agreed to cooperate with each other and to
promote unity among members.
2.19. The South Asian Association for Regional Cooperation

(SAARC)
The South Asian Association for Regional Cooperation, or SAARC, is an

economic and geopolitical organization that was established to promote
socio-economic development, stability, and welfare economics, and
collective self-reliance within its member nations.
Membership
Joined within Bloc Total within Bloc Total
Imports Exports
Bloc Bloc
Members Members
Afghanistan 2004 Unavailable Unavailable Unavailable Unavailable
Bangladesh 1985 Unavailable Unavailable Unavailable Unavailable
Bhutan 1985 Unavailable Unavailable Unavailable Unavailable
India 1985 $2,297,013,29 0.27 % $13,738,379,32 2.44 %
1 9
Maldives 1985 $245,662,502 7.26 % $14,498,567 5.81 %
Nepal 1985 Unavailable Unavailable Unavailable Unavailable
Pakistan 1985 $1,952,423,20 2.25 % $3,451,192,726 7.28 %
9
Sri Lanka 1985 $3,910,787,98 11.52 % $816,415,774 4.34 %
7
12% 13%
Afghanistan
Bangladesh
12% 12% Bhutan
India
Maldives
12% 12% Nepal
Pakistan
Sri Lanka
12% 12%
2.20. The Southern African Development Community (SADC)
The Southern African Development Community (SADC) is an

international intergovernmental organization comprised of 15 countries
in southern Africa.
3. By Classification
3.1 Emerging market
An emerging market is a country that is not fully developed but it has

some characteristics of developed market with a huge possibility to be
developed in near future. Its market is not highly efcient although
returns are higher.
3.1.1 Turkey Vs Malaysia
Below Tables shows the comparison between both countries in terms of

credit risk assessment.
Credit Risk Assessment

Emerging
Turkey Malaysia Markets
Factors
Average
Country Risk BB BBB BB
Political Risk BB BBB BB
Currency Risk B BBB BB
Sovereign Risk BB BBB BB
Banking Sector Risk BB BBB BB
Economic Structure Risk BB BBB BB
Note: AAA indicates least risky and follows, AA, A, BBB, BB, B, CCC, CC,
and C indicates most risky
As credit risk represents the risk of default on a debt, there is no doubt

that Malaysia is doing much better than Turkey. The Ratings of Malaysia
is less risky than Turkey which is BBB on an average for Malaysia.
Economy Risk Ranking
Emerging
Turkey Malaysia Markets
Factors
Average
Ease of Doing Business 55 18 59

Rank
Global Competitiveness 51 18 49
Report
Index of Economic 70 31 71
Freedom
Global Enabling Trade 45 25 54

Report
Corruption Perceptions 63 49 73
Index
Note: The lower number indicates better performance on the specific

index.
Recommendation: To get a competitive position with Malaysia, Turkey

should take steps to improve their credit risk measures.
3.1.2 China VS India
Both countries economy is getting bigger and emerging at a greater

pace.
Credit Risk Emerging Markets

China India
Assessment Factors Average
Country Risk BB BB BB
Political Risk B BBB BB
Currency Risk BBB BBB BB
Sovereign Risk BBB BB BB
Banking Sector Risk B BB BB
Economic Structure BBB BB BB

Risk
and C indicates most risky.
Both china and India’s market almost looks same in terms of credit risk
but seems like China is very close to get into developed country’s benefit
with higher political and banking sector risk than India.

Economy Risk Ranking Emerging Markets
China India
Factors Average

Rank
Report

Freedom

Report
Index

index.
Recommendation: Although both countries are having competitive

position in emerging market, they must work on the improvement of
specific indicators to reduce Risk both in credit and economy as
measures of some index does not fall under emerging market average
readings.
3.1.3 Brazil VS Mexico
Emerging
Brazil Mexico Markets
Factors
Average
Country Risk BB BBB BB
Political Risk BBB BB BB

Currency Risk BB BBB BB
Sovereign Risk BB BB BB
Banking Sector Risk BBB BBB BB
Economic Structure Risk BB BB BB
and C indicates most risky
Brazil and Mexico both countries contain less risks for credit as few of
the important indicators are well above the average but here we can’t
decide which country is better off because to assess that first we need to
know which indicators is preferred over others.
Economy Risk Ranking Emerging Markets

Brazil Mexico
Factors Average

Rank
Report

Freedom

Report

Index

index.
Recommendation: Economic risk is the biggest drawback for Brazil and

to stay competitive in emerging market they have focus specifically ease
of doing business, economic freedom and global enabling trade.
Conclusion
Holding stable emerging market characteristics is important for every

country to reach next level for becoming a developed country. From the
above discussion we have seen most countries are good or somewhat
meets the requirements of credit risk factors.
3.2. Frontier Market
A frontier market is a type of developing country which is more devel-

oped than the least developing countries, but too small to be generally
considered an emerging market.
3.2.1. Qatar vs. Bahrain

Credit Risk Assessment Qatar Bahrain
Factors
Country Risk A BB
Political Risk BBB B
Currency Risk A BBB
Sovereign Risk AA BB
Banking Sector Risk BBB BB
Economic Structure Risk BBB BB
Note: AAA indicates least risky and follows, AA, A, BBB, BB, B, CCC, CC
As credit risk represents the risk of default on a debt, there is no doubt

that Qatar is doing much better than Bahrain although both of them meet
the criteria of Frontier market because its Country Risk is A, Currency
Risk is A and Sovereign Risk is AA where as Bahrain’s Risk is BB, BBB
and BB consecutively in these sectors though it is mentioned that AA, A,
BBB, BB, B, CCC, CC and C all are indicates most risky credit.

Qatar Bahrain
Factors
Ease of Doing Business Rank 50 53
Global Competitiveness
14 37
Report
Index of Economic Freedom 32 18
Global Enabling Trade Report 19 33
Corruption Perception Index 28 54
(The Lower number indicates better performance on the specific index)
Here Qatar is in beneficial position than Bahrain because most of the

indicators in the above table represent less risk for their economy.
Recommendation
To get a competitive position with Qatar, Bahrain should improve their

Corruption Perception Index by reducing the misuse of public power for
private benefit.
3.2.2. K.S.A. vs. U.A.E

Credit Risk Assessment Kingdom of United Arab
Saudi Arabia Emirates
Factors
Country Risk BBB BBB
Political Risk B BB
Currency Risk BBB BBB
Sovereign Risk A BBB
Banking Sector Risk BBB BB
Economic Structure Risk BBB B
Note: AAA indicates least risky and follows: AA, A, BBB, BB, B, CCC, CC
From this chart, we can say that Kingdom of Saudi Arabia is doing much
better than UAE because both economic risks and sovereign risks of KSA
is less than U.A.E. But here we can’t decide which country is better off
because to assess that first we need to know which indicators means
what as all AA, A, BBB, BB, B, CCC, CC and C are indicated most risky.
Economy Risk Ranking United Arab

Saudi Arabia
Factors Emirates
25 17
Report
Note: The Lower number indicates better performance on the specific

index.
Here United Arab Emirates is in beneficial position than Saudi Arab

because most of the indicators in the above table represent less risk for
their economy.
Recommendation: To get a competitive position in the market than

U.A.E, Saudi Arabia should reduce its economic risks through internal
controls of Business risks, Economic Freedom and Corruption Perception.
Also, develop risk management Plans.
3.2.3. Romania and Bulgaria

Credit Risk Assessment Romania Bulgaria
Factors
Country Risk BB BB
Political Risk BB BBB
Currency Risk BB BBB
Sovereign Risk BB BB
Banking Sector Risk BB BB
Economic Structure Risk BB BB
Note: AAA indicates least risky and follows: AA, A, BBB, BB, B, CCC, CC
Romania and Bulgaria both countries contain most risks for credit as few
of the important indicators are well above the average but here we can’t
decide which country is better off because to assess that first we need to
know which indicators is preferred over others. So both countries are
enjoying almost the same position.

Romania Bulgaria
Factors
53 53
Report
Note: The Lower number indicates better performance on the specific

index.
Here Romania and Bulgaria both are in same position because most of
the indicators of Economy Risks are almost same in case of these two
countries.
Recommendation: To get a competitive position in the market both

countries should plan to reduce their credit risk and economic risks.
4. Doha Development Agenda (Trade Topics)
At the Fourth Ministerial Conference in Doha, Qatar, in November 2001

WTO member governments agreed to launch new negotiations. They also
agreed to work on other issues, in particular the implementation of the
present agreements. The entire package is called the Doha
Development Agenda (DDA).
Doha Development Agenda: Negotiations, implementation and

development
The November 2001 declaration of the Fourth Ministerial Conference in

Doha, Qatar, provides the mandate for negotiations on a range of sub-
jects and other work. The negotiations include those on agriculture and
services, which began in early 2000.
4.1 Trade & Development
Trade & Development Facilitation
Mandate
The aim is to ease trade flows and customs procedures and to facilitate
the movement, release and clearance of goods. Members will clarify and
improve three articles of GATT relating to transit, fees and formalities
connected with trade, and transparency of regulations. This is an impor-
tant addition to the overall negotiation since it would cut bureaucracy
and corruption in customs procedures and would speed up trade and
make it cheaper by saving millions of dollars.
Negotiations
Hundreds of proposals have been submitted for this purpose, some of

them refined several times and almost ready to become parts of the draft
agreement. Several coalitions of members, both developing and devel-
oped, have been formed after identification of common goals. Few inter-
national organizations, including the World Bank and the World Customs
Organization, participate in the negotiations as observers.
Duty-Free imports into Qatar from developing countries and LDCs,

1996-2001 (per cent)
1996 1997 1998 1 999

2000 2001
Excluding
arms
Developing countries 54.8 50.5 49.9 57.2 62.8
65.7
LDCs 71.5 67.2 77.7 77.1
75.4 75.3
Excluding arms and oil
Developing countries 56.8 51.5 49.9 58.1 65.1
66.0
LDCs 81.1 75.5 75.0 73.6
70.5 69.1
When agreement was finally reached at the Bali Ministerial Conference

in December 2013, WTO members had achieved a consensus text with 13
articles and a special section dealing with special and differential
treatment provisions.
Among the issues addressed in the Agreement are:
 Norms for the publication of laws, regulations and procedures, in-

cluding Internet publication
 Disciplines on fees and charges and on penalties
 Pre-arrival processing of goods
 Guarantees to allow rapid release of goods
 Procedures for expedite shipments
 Faster release of perishable goods
 Reduced documents and formalities with common customs stan-

dards
 Promotion of the use of a single window
 Uniformity in border procedures
 Simplified transit procedures
The Agreement also calls for the establishment of a Preparatory

Committee on Trade Facilitation under the General Council, open to all
WTO members, to perform such functions as may be necessary to ensure
the expeditious entry into force of the Agreement and to prepare for the
efcient operation of the Agreement upon its entry into force.
WTO budget allocation for technical assistance activities, 1998-

2003
(Millions of USD)
5%
10%
29%
1998
1999
14%
2000
2001
2002
2003
19%
24%
9%
1%
26% Africa
16% America
Asia
Europe
Oceania
16% Global programmes
32%
All countries including developing are actively involved in the negotia-

tions since everybody is aware of the importance of the issue of trade fa-
cilitation in light of the increase of trade around the world.
4.2 Services
Services such as telecommunications, banking, insurance, construction,
distribution and transport help to enhance overall economic perfor-
mance.
Over the last 20 years or so, the government's role in the supply of many
services has changed fundamentally from producer, distributor and fi-
nancier to regulatory control and enforcement. To reflect these new mar-
ket realities, the international trading system was adjusted with the entry
into force of the WTO's General Agreement on Trade in Services (GATS)
in January 1995.
1948
2003* 1953
200
2003*
1998 1958
1998 100
1953
1958
1948
1993 1993 0 1963 1963
1968
1988
1973
1988 1983 1968
1978
1983 1973
1978
Under the Doha round of negotiations
o Governments aim to open, improve and clarify the rules on regula-

tions, the poorest countries and flexibilities.
o A la carte system: Each government has the right to decide which

sectors it wants to open to foreign companies and to what extent,
including any restrictions on foreign ownership.
Some key issues in the Doha negotiations
o Many developed countries are looking for new export opportunities

in sectors such as financial services, telecoms, energy services, ex-
press delivery and distribution services.
o Several developing countries are seeking similar opportunities in

sectors such as tourism, medical services and professional services,
as well as opportunities for their individual service providers under
mode 4.
4.3 Trade and environment
Mandate
At Doha, members agreed to negotiate on greater market opening in en-

vironmental goods and services; on the relationship between WTO rules
and trade obligations set out in multilateral environmental agreements
(MEAs) and on the exchange of information between those institutions.
9%
1%
26%
16% Africa
America
Asia
Europe
Oceania
Global programmes
16%
32%
Negotiations
A more open market for environmental goods and services
The elimination or reduction of barriers to trade in this area will benefit

the environment by improving countries’ ability to obtain high quality
environmental goods. It will facilitate access to these types of goods and
foster a better dissemination of environmental technologies at lower
costs. This negotiation will also have a positive impact on climate change
by improving access to goods and technologies that can contribute to
climate change mitigation.
More coherence between trade and environment rules
To bring more coherence between trade and environment rules, members

have made a number of proposals highlighting, for instance, the impor-
tance of national coordination between trade and environment experts,
particularly in the context of the negotiation and implementation of
MEAs. Proposals have also highlighted the value of national experience
sharing in this area, to enhance the mutually supportive relationship for
trade and environment.
Better cooperation between the WTO and MEAs
There is strong support for consolidating some practices and mechanisms

for cooperation between the WTO and the MEAs. Concrete suggestions
have been made regarding information exchange sessions with MEAs,
possibly through annual sessions, document exchange and future
collaboration in the context of technical assistance and capacity building
activities. The proposals set out criteria that could guide WTO
committees in their consideration of requests for observer status by
MEAs.
On the last two issues, discussions are well advanced and members are
heading towards text-based negotiations, which will draw on the
proposals currently on the table. At this stage, while there are some
points of convergence, there still remain some issues that will need to be
further discussed.
7. F20, B20, C20, L20, T20, W20, Y20

7.1 Group 20 (G-20)
The members are Argentina, Australia, Brazil, Canada, China, France, Germany, India,
Indonesia, Italy, Japan, Mexico, Republic of Korea, Russia, Saudi Arabia, South Africa,
Turkey, the United Kingdom, the United States and the European Union (EU).
G-20 is the international forum for the governments and central banks from 20 major
countries.
G20 summit agenda Turkey 2015

The meeting's agenda was to development and climate change, the global economy,
investment and employment strategies and also financial regulations, the international tax
agenda, anti-corruption actions, IMF reforms, trade and energy issues were discussed.
In September 2016 the host country for the summit will be China and in the city of
Hangzhou, it will be hosted by President Xi Jinping. In 2017, the summit will be held in
Germany and hosted by Angela Merkel who is the Chancellor of Germany and in 2018,
Prime Minister of India, Narendra Modi will host the summit in New Delhi, India.
7.2 Business 20 (B-20)
The Business 20 also known as B-20 is an event which is part of the G-20 Summit. The B-20
group is an influential platform bringing together business leaders from G-20 economies, and
advocates for critical issues for enterprises. B20’s principal task is to develop
recommendation and issue relevant commitments from the business leaders and organizations
to deal with recent issues. The first official business summit took place in Seoul in 2010.
B20 summit agenda Turkey 2015

The B-20 is organized around twelve topics: economic policies, financial regulation,
international monetary system, commodities and raw materials, development and food
security, employment and social dimension, anti-corruption, trade and investment, ICT and
innovation, global governance, energy, green growth. These topics are crucial to the business
community and also are priorities for the G-20.
7.3 Civil 20 (C-20)
The Civil 20 or C-20 is one of the official G-20 engagement groups, which became apparent
as a result of the G-20’s acknowledgment of the important role that civil society plays in the
governance and policy formulation processes of multinational institutions. The top 20
participants of C-20 summit are: Turkey, USA, UK, Germany, Australia, Canada, India,
Mexico, Yemen, Indonesia, China, Russia, Argentina, Netherlands, Nigeria, South Africa,
Spain, France, Belgium and Kenya.
C20 summit agenda Turkey 2015

In order to tackle inequalities and promote sustainable and inclusive development C-20
prioritizes on four key points:
C-20 proposed priorities for 2015 are:

7.4 Labour 20 (L-20)
The Labour 20 works with trade union from G20 countries and global trade unions to
improve the growth rate of employment and solve the unemployment problems in G20
countries. The L20 conveys key messages of the global labour movement. It provides G20
leaders with the perspectives of workers across the world.
L20 summit agenda Turkey 2015

It is said to be one of the most important summits as lots of commitments came from G20
leaders to improve the employment situation. The details are given below in the form of a
table.
They agenda of L20 summit were-
 generate investment to create quality jobs;
 scale up quality apprenticeships and skills;
 achieve sustainable, green and inclusive growth;
 ensure fair income distribution;
 re-regulate the financial sector; and
 follow-up on the implementation of G20 past and future commitments.

Next L20 summit will be hosted by china at 2016.
7.5 Think 20 (T-20)
Think 20 was founded in 2012 and its idea was initiated by Mexican G20 presidency. The
first Think 20 meeting held in Mexico City at February, 2012. To develop sustainable policy
measures, Think 20 organizes the analysis of global think tanks and high level experts and
also generates new ideas. At November 2015 turkey hosted the fourth Think 20 summit.
T20 summit agenda Turkey 2015

Leaders from governments, multilateral institutions and private sector to discuss the
following questions:
 How can the global governance architecture be reformed for sustainable develop-
ment?
 How can the G20 and the UN can strengthen their cooperation to implement the
SDGs?
 How can the G20 act further to strengthen cooperation with low income developing
countries?
7.5 Women 20 (W-20)
Under the guidance of G20, W20 focuses on promoting gender inclusiveness and gender
equality, essentially making a significant contribution towards a strong, sustainable and
balanced growth trend globally. Women contributes to over half of the world´s population,
but their contribution to economic growth is far below its potential.
W20 summit agenda Turkey 2015
The delegates of the first ever W20 Summit, gathered together in Istanbul on 16-17 October
2015. Some of the agendas which were discussed in the Turkey 2015 summit were:
 Address women’s economic empowerment through strengthening linkages between

education, employment and entrepreneurship
 Increase the number of women both in public and private sector leadership posi-
tions
 Ensure women’s access to financial and productive assets as well as to markets
 Eliminate workplace discrimination, enforce legal rights and promote equal oppor-
tunities
 Strengthen women’s economic, social and political networks
 Support women-owned enterprises and innovation
7.6 Youth 20 (Y-20)
The Y20 Youth Summit is the youth events parallel summits the G20.Y20 is the official youth
engagement group of the G20 which provides a platform for young people from across the
G20 (Group of Twenty) countries to have their voices heard in regards to the most pressing
global economic and social challenges.
Y20 summit agenda Turkey 2015
The Y20 Turkey Summit held on 16-21 August 2015. Selected delegates had the opportunity
to communicate the issues that are important to young people to not only raise awareness but
also propose solutions to the world leaders.
Some of the agendas which were discussed in the Turkey 2015 summit were:
 To create Y20’s strategic agenda and aligning it with the engagement group
 To generate policy recommendations through pragmatic and evidence-based commu-
nication
 To sustain and enhance the multilateral accountability framework
 To promote global engagement and activation of youth
To grow the legitimacy, reach and impact of the Y20 summit, and better integrate the voice of
today’s youth into existing G20 dialogue
6. Recommendations
 In order for the original aim of establishing the WTO as a member-
driven organization to become reality, WTO processes should be de-
signed to suit the capacity of the least powerful members.
 The aim should be that all WTO members are able to participate in
negotiations on any subject of interest to them. This aim should
override concerns about the speed of decision making.
 Changes in internal democracy will have implications for the scope
of negotiations that are possible at any one time.
 In deciding the scope of negotiations, and of the eventual undertak-
ing, WTO members should ensure a balance between the interests
of high-, middle- and low-income countries.
 To enhance the efcient use of limited time, all meetings should be
properly structured with agendas published in advance.
 An ‘early warning’ system should be established to provide non-
resident delegations of new issues and negotiations that allows
them sufcient time to reflect and decide on their positions and
participation.
 It is important that changes in internal processes apply equally to
all, and not just to those with less capacity.
 WTO members should agree the criteria governing the circum-
stances under which informal consultations should occur, and these
criteria should be strictly adhered to.
 All decisions should be taken in the General Council or other formal
bodies.
 The establishment of a superior referral body to resolve disputes
between trade law, multilateral agreements and international cus-
tomary law.
 The WTO should actively encourage parliamentary scrutiny of trade
policy at the national and regional level.
 The Trade Policy Review Mechanism should include an evaluation
of how trade policy is formulated at national/regional level, includ-
ing an evaluation of consultations with civil society and parlia-
ments.
7. Conclusion
This report has attempted to provide a better understanding of why coun-

tries have chosen to cooperate with one another in trade matters down
the years. This may seem a simple question, but it turns out to have sev-
eral answers. Governments embrace varying objectives at different times,
reflecting, among other things, the relative standing of their economies
in the international order, and the priorities imposed by their level of eco-
nomic development. For sustainable and stable co-operation is that gov-
ernments find ways of addressing adjustment costs and the re-distribu-
tional impact of change – in other words, of managing the challenges of
globalization. Adjustment and income distribution have not been ex-
plored here, and they pose challenges that go well beyond the impact of
trade policy changes in an economy. International institutions can be-
come moribund, with shrinking relevance, if governments do not take
care of them, and institutional decline will likely be harder to reverse the
further it goes. At the same time, it has been repeatedly demonstrated
that if institutions do not adapt to change, they will wither, becoming in-
creasingly regarded as vestiges of an older world driven by different in-
terests than those that shape the present.
Current and future challenges notwithstanding, the shared international

experience of sixty years of the GATT/WTO is in a dilemma. Plenty of gov-
ernments, non-state actors, commentators and critics want to improve
the system, but very few would gainsay its core contribution to a more
stable and prosperous world. An unvarnished look at the less than fully
resolved issues of the past, the outstanding challenges, and the successes
– as attempted in this report – will, we hope, stimulate thought on how
best to manage the future.
8. Reference
 Text book: International Business, Competing in the global market-

place, Eighth Edition by Charles W. L. Hill
 http://globaledge.msu.edu/
 http://globaledge.msu.edu/countries/australia
 http://globaledge.msu.edu/countries/bangladesh
 http://globaledge.msu.edu/countries/brazil
 http://globaledge.msu.edu/countries/china
 http://globaledge.msu.edu/countries/india
 http://globaledge.msu.edu/countries/japan
 http://globaledge.msu.edu/countries/malta
 http://globaledge.msu.edu/countries/usa
 http://globaledge.msu.edu/countries/uk
 http://globaledge.msu.edu/countries/uae
 http://globaledge.msu.edu/econ-class/emerging-markets
 http://globaledge.msu.edu/econ-class/frontier-markets
 https://www.wto.org
 https://www.wto.org/english/tratop_e/dda_e/update_e.htm
 https://g20.org
 http://www.c20turkey.org/page/news/31
 http://www.b20australia.info/about-the-b20/about-us
 http://w20turkey.org/the-w20-summit/
 http://www.t20turkey.org/eng/pages/research.html

Term Paper On "Global Business Arena": Submitted To

Uploaded by

Copyright:

Available Formats

You might also like

Term Paper On "Global Business Arena": Submitted To

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Term Paper On "Global Business Arena": Submitted To

Uploaded by

Copyright:

Available Formats

Term Paper on “Global Business

Professor Dr. M. Mahmodul Hasan

Term Paper on “Global Business Arena”

Professor Dr. M. Mahmodul Hasan

11th December, 2015.

11th December, 2015

Professor Dr. M. Mahmodul Hasan

Subject: Prayer for Submission of the Term Paper on ‘Global

The report has given us an opportunity to apply theoretical knowledge in

At the beginning of our acknowledgement section of this term paper

International trade is integral to the process of globalization. Over many

5. F20, B20, C20, L20, T20, W20, 43 - 46

Japan is an island nation in East Asia. It is an archipelago of 6,852

Japanese Society & Culture

 Saving face is crucial in Japanese society.

1.1.4. Trade Statistics

Total Exports (2014) $683,845,619,829

INDICES: No relevant indices.

Corruption Perceptions Index (CPI): Japan ranks 15th with a score of

Malta is a southern European country and consists of an archipelago. It is

Imports of goods and services

1.2.4. Trade Statistics

Corruption Perceptions Index (CPI): Malta ranks 42nd with a score of

Australia is a country in Oceania bordering the Indian Ocean and the

Australia has been ranked as having the

Top 3 Trade Partners: China, Japan, and

Australia Society & Culture

Imports of goods and services

1.3.4. Trade Statistics

Total Exports (2014) $240,444,683,862

INDICES: No relevant indices.

Corruption Perceptions Index (CPI): Australia ranks 11th with a score

Bangladesh is a country in Southern Asia. It is located on the Bay of

Although more than half of GDP is

Top 3 Exported Goods: Data unavailable

Bangladesh Society & Culture

 Bangladesh is a hierarchical society.

 People are respected because of their age and position.

 Bangladeshis identify with the folk traditions of Bengali culture.

 Islam defines many of the festivals in Bangladesh.

Total Exports (2011) $24,313,744,246

Corruption Perceptions Index (CPI): Bangladesh ranks 144th with a

Brazil is the largest country in South America bounded by the Atlantic

 Brazil is a mixture of races and ethnicities, resulting in rich diver-

1.5.4. Trade Statistics

Total Exports (2011) $24,313,744,246

Corruption Perceptions Index (CPI): Brazil ranks 68th with a score of

China is the world leader in gross value of

Top 3 Exported Goods: Electrical

China Society & Culture

 Greetings are formal and the oldest person is always greeted

1.6.4. Trade Statistics

Total Exports (2011) $2,209,007,280,259

Corruption Perceptions Index (CPI): China ranks 99th with a score of

India has the third largest economy in terms

Top 3 Exported Goods: United Arab

Top 3 Exported Goods: Oil & Mineral