Category: International Organizations

World Trade Organisation (WTO)


The World Trade Organization (WTO) was founded in 1995 by the members of the General Agreement on Tariffs and Trade (GATT). The WTO is the world’s only international organization that supervises 95% of the world’s global trade. It assists trade related issues of its member nations that produce, export and import goods and services in a smooth manner. Comprising 153 member nations, the agreements pertaining to the WTO have been signed and confirmed by respective member nations.

Organization of The Petroleum Exporting Countries (OPEC)


 

The Organization Of The Petroleum Exporting Countries (OPEC) was founded in the year 1960 by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.

OPEC is an intergovernmental organization. The sole aim of the organization is to maintain stability in the oil prices through efficient, economic and regular supply of petroleum.

Key Functions of OPEC:

  • Coordination of oil production policies

  • Price and market stabilisation

  • Maintaining stability in oil production

Trade Organisations


Trade organizations are associations that countries establish to liberalize trade among member countries through voluntary participation. Treaties like the NAFTA aim to liberalize trade between member countries smoothly. Trade organizations are established for specific purposes. The aim is to help its members enjoy various economic benefits.

List of Trade Organizations

Major trade organizations are:

North American Free Trade Association (NAFTA)


Too many trading forums and treaties are talked and debated about but we hardly remember their actual accomplishments. The North American Free Trade Agreement or NAFTA, which came into force on January 1, 1994, is not just another treaty that aims to facilitate trade between its member nations. It is one of the world’s most powerful and successful treaties comprising the United States, Canada and Mexico.

International Finance Corporation (IFC)


The International Finance Corporation (IFC) is a Washington, DC-headquartered organization that promotes private sector investments in developing countries. To obtain assistance from the IFC, countries must become its members. The organization has a total of 181 members. TO become a member of the IFC, a country has to be a member of the World Bank. It is also required to sign the Worlds Articles of Agreement and deposit its Instrument of Acceptance at the Corporate Secretariat of the World Bank Group.

Asian Development Bank (ADB)


ADB or the Asian Development Bank is an international financial institute operating since 1966. ADB provides financial assistance to its member nations for poverty reduction and improvement in the quality of life. To finance its projects, ADB issues bonds and also leverages the contributions made by participant countries.

 

The organization was started with the following objectives:

The BRIC Countries: Brazil, Russia, India, China


The BRIC countries are made up of Brazil, Russia, India and China – although if we were to categorize them by importance, it would actually be CIRB. It just doesn’t sound as sexy, does it?

And lets face it, sexiness sells, and that is why the masters of the universe at Goldman Sachs make the big bucks – for it was Goldmans who came up with the BRIC grouping, and it has stuck.

  

Asian Development Bank Member Countries (ADB)


In the year 1966, when the ADB was started there were 31 member countries. Presently there are 66 member countries in Asia and Pacific region and out side the region.

The list follows the list of member countries of ADB and their respective year of joining.