TRIPS Agreement   The Agreement on Trade related Aspects of Intellectual Property Rights of the WTO is commonly known as the TRIPS Agreement or simply TRIPS. TRIPS is one of the main agreements comprising the World Trade Organisation (WTO) Agreement. This Agreement was negotiated as part of the eighth round of multilateral trade negotiations in the period 1986-94...

Country Risk Analysis-Meaning,Definition,Factors Effecting Country Risk Meaning All business transactions involve some degree of risk. When business transactions occur across international borders, they carry additional risks not present in domestic transactions. These additional risks, called country risks, typically include risks arising from a variety of national...

Barriers to Trade The barriers generally include tariff and non-tariff strategies. 1. Tariffs A tariff is a tax imposed on goods involved in international trade.Tariffs are imposed on goods imported,in which case they are called import duties.Taxes are also imposed on goods when they leave the country(export tariff) or as they pass through one country bound for...

World Trade Organization    The World Trade Organization (WTO) is an intergovernmental organization which regulates international trade. The World Trade Organisation  officially commenced on 1 January 1995 under the Marrakesh Agreement, signed by 123 nations on 15 April 1994, replacing the General Agreement on Tariffs and Trade(GATT), which commenced...

Rise of New economics like Brazil, Russia, India and China (BRIC) and ASIAN countries   Introduction to BRICS  BRIC is the acronym that refers to the countries of Brazil, Russia, India and China, which are all deemed to be at a similar stage of newly advanced economic development. The acronym was coined in 2001 by Jim O’Neill from investment bank Goldman...

Trading Environment of International Trade The environment of International trade is regarded as the sum total of all the external forces working upon the firm as it goes about its affairs in foreign and domestic markets.The environment can be classified in terms of domestic,foreign and international spheres of impact.The domestic environment is familiar to managers...

Introduction to theories of International Trade   Some important theories of International Trade 1. Absolute Cost Advantage Theory The principle of absolute advantage refers to the ability of a party (an individual, or firm, or country) to produce a greater quantity of a good, product, or service than competitors, using the same amount of resources. Adam Smith...

Stages in Globalization   1. Domestic Company Market potential is limited to the home country. Production and marketing facilities are located at home only. Surplus may or may not be exported. There are no overt efforts to develop foreign markets. It may add new product lines, serve new local markets but whole planning is limited to national markets only. Features: i....

International Monetary Fund   Establishment of International Monetary Fund World war II had its adverse effect on the global economy.To remedy the situation,an international monetary conference was convened in 1994,at Bretton Woods in America.It was attended by the representatives of 44 countries.India also participated therein.It was decided in this Conference...

Globalization:Advantages or Disadvantages   Globalization pulls the countries out, from their detachment into the competitive world. A journey towards new collaborations and unity, it has changed the world into a global village. Both distance and isolation have been terrifically reduced. Globalization integrates trade, technology, investments, and the mobile...