A
An B C Con D E F G H I J K L M N O P Q R S Sp T U VWXYZ
Andean Development Corporation.
See Andean Group.
Andean Group.
The Andean Group (Spanish: Grupo Andino; sometimes referred to as Pacto Andino or
C¢rporation Adino de Fomento; formal reference is Acuerdo de Cartegana in recognition of
the Group's establishment in Cartegena in October 1969) is an association of Latin
American countries which promotes regional economic integration and political cooperation
among themselves. Members include Bolivia, Colombia, Ecuador, Peru, and Venezuela; Chile
withdrew in January 1976. Headquarters are in Lima, Peru.
The Corporaci¢n Andina de Foment¢, CAF (English: Andean Development Corporation)
supports economic integration among members of the Andean Group by encouraging
specialization, distribution of investments and by providing financial and technical help.
The CAF was founded in 1968, began operations in 1970; headquarters are in Caracas, Venezuela.
Andean Pact
The Andean Pact was established in 1969 when Bolivia, Colombia, Ecuador and Peru signed
the Cartagena Agreement. Chile was an original member but exited in 1976 to pursue an
independent economic program. Venezuela joined in 1973. The original goal of the Cartagena
Agreement was to promote economic self-sufficiency within the region. Members were never
able to fully implement the Cartagena Agreement and viutually abandoned multilateral
discussions as Latin America's economic conditions worsened during the 1980s.
Broadly, the Andean Pact of the 1990s is to encourage the growth of international
competitive industries and to promote increased integration of the Andean region
with the global economy.
Andean Reserve Fund.
The Andean Reserve Fund (Spanish: Fondo Andina de Reservas), associated with the Andean
Group, was established to strengthen the balance of payments positions of member countries
by offering credit, guarantee loans, and promoting compatibility among members' monetary
policies. Headquarters are in Bogota, Colombia.
Andean Trade Initiative.
The ATI is the trade element in U.S. drug policy.
See Andean Trade Preference Act.
Andean Trade Preference Act (ATPA)
Andean Trade Preference Act
The ATPA is a unilateral trade benefit program designed to promote economic development
through private sector initiative in the four Andean countries of Bolivia, Colombia, Ecuador,
and Peru. The ATPA encourages alternatives to coca cultivation and production by offering
broader access to the U.S. market. The Act also seeks to stimulate investment in
nontraditional sectors and to diversify the Andean countries' export base. The primary
provision of the program is expanded duty-free entry into the United States. The
Administration must determine each country's eligibility based on criteria set forth in
the Act. Bolivia, Colombia, Ecuador, and Peru have been designated as beneficiaries. The
ATPA became effective in December 1991 and is due to expire in December 2001. The Act
requires periodic assessments of the impact of the trade preferences by the U.S.
International Trade Commission and the U.S. Department of Labor.
Annex.
See International Agreements.
Annual Return.
This is a document, required by the government of many countries, providing certain
details about the company. It often includes details of members, directors, the address of
the company and sometimes some financial information.
Anticipatory Countertrade.
Advance purchases of goods and services from a customer's country that a supplier
undertakes, or causes, in expectation of a future sale linked to countertrade
requirements. Such proactive purchases may not receive countertrade credit at the time of
the export sale unless prior approval by the host country authorities is secured, tying
the two import/export transactions.
Antidumping.
Antidumping, as a reference to the system of laws to remedy dumping, is defined as a
converse of dumping.
See Dumping.
Antidumping/Countervailing Duty
System.
The Antidumping/Countervailing Duty System, a part of Customs' Automated Commercial
System, contains a case reference database and a statistical reporting system to capture
data for International Trade Commission reports on antidumping and countervailing duties
assessed and paid.
Antidumping Duty.
A duty assessed on imported merchandise which is subject to an antidumping duty order. The
antidumping duty is assessed on an entry-by-entry basis in an amount equal to the
difference between the United States price of that entry and the foreign market value of
such or similar merchandise at the time the merchandise was sold to the United States.
See: Tariff act of 1930.
Antidumping Investigation Notice.
The notice published in the Federal Register announcing the initiation of an antidumping
investigation. An investigation must be initiated within 20 days of the filing of a valid
petition.
See Tariff Act of 1930.
Antidumping Duty Order.
A notice issued following final determination of sales at less than fair value and
material injury, or threat of material injury, providing for the imposition of antidumping
duties.
See Tariff Act of 1930.
Antidumping Duty
A charge levied on imported goods sold on the U.S. market to offset the difference between
the sale price on the U.S. market and the exporter's home market or between the U.S. sale
price and the cost of producing the goods. (See Dumping.)
Antidumping Petition.
A petition filed on behalf of an affected United States industry, alleging that foreign
merchandise is being sold in the United States at "less than fair value" and
that such sales are causing or threatening material injury to, or materially retarding the
establishment of a United States industry. Commerce regulations (19 CFR 353) and
International Trade Commission regulations (19CFR 207) specify the information a petition
should contain.
See: Tariff Act of 1930.
Antitrust law.
Any law that encourages competition by limiting unfair business practices and curbing
monopolies' power.
Apparent Consumption
An estimate of domestic consumption calculated as product shipments plus imports minus
exports.
Arab-African International Bank.
The AAIB is a pan-Arab consortium incorporated in 1964 as a self-governing autonomous
entity between the Ministry of Finance of Kuwait and the Central Bank of Egypt; each of
which as co-founders hold 49.37% of the Bank's shares. A New York branch of the AAIB was
established in 1981 to facilitate the financing of trade between North America and the Middle
East. AAIB headquarters are in Cairo.
Arab Bank for Economic Development
in Africa.
The ABEDA (French: Banque Arabe pour le Développement Economique en Afrique -- BADEA) was
created by the League of Arab States in November 1973 (began operations in March 1975) to
promote economic and technical cooperation between Arab and African states. Members
include: Algeria, Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Mauritania, Morocco,
Oman, Qatar, Saudi Arabia, Sudan, Syria, Tunesia, the United Arab Emirates, and the
Palestine Liberation Organization. Bank headquarters are in Khartoum, Sudan.
Arab Cooperation Council.
The ACC was created in 1989 to promote economic cooperation and integration. Members
include Egypt, Iraq, Jordan, and North Yemen. The ACC, partly intended as a counterpart to
Gulf Cooperation Council, was created one day subsequent to the establishment of the Arab
Maghreb Union.
Arab Fund for Economic and Social
Development.
AFESD promotes regional economic integration and social development in Arab states.
Members include: Algeria, Bahrain, Djibouti, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Mauritania,
Morocco, Oman, Qatar, Saudi Arabia, Somalia, Sudan, Syria, Tunisia, the United Arab
Emirates, Yemen, and the Palestine Liberation Organization. The Fund, associated with the
League of Arab States, started operations in February 1972; headquarters are in Safat, Kuwait.
Arab International Bank.
The AIB provides financing to support development of foreign trade among member nations
and other Arab states. The Bank was established in October 1971; headquarters are in Cairo,
Egypt. Member include: the governments of Oman, Qatar, and United Arab Emirates, as well
as the Central Bank of Egypt, and the Libyan Arab Foreign Bank.
Arab League.
See League of Arab States.
Arab Maghreb Union.
The AMU (French: Union du Maghreb Arabe, UMA) encompasses Algeria, Libya, Mauritania, Morocco,
and Tunisia. The Union was established in February 1989 to foster integration of the Maghreb
economy. The Union also seeks to join the AMU and the Gulf Cooperation Council states in a
common market.
Arab Monetary Fund.
The AMF, originally aimed at correcting chronic deficits in the balance of payments in
most member states, promotes Arab integration in monetary and economic affairs. The Fund's
priorities have included: (a) addressing payments imbalances, (b) creating capital
markets, (c) stabilizing exchange rates, and (d) eliminating payments and trade
restrictions. Members include: Algeria, Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya,
Mauritania, Morocco, Oman, Qatar, Saudi Arabia, Somalia, Sudan, Syria, Tunisia, the United
Arab Emirates, Yemen, and the Palestine Liberation Organization. The Fund was created in
1976 (began operating in April 1977); headquarters are in Abu Dhabi, United Arab Emirates.
See: Arab Trade Financing Program.
Arab Trade Financing Program.
The ATFP promotes trade among Arab countries and exports from Arab countries. The Program
was established in 1989 by the Arab Monetary Fund; headquarters are in Abu Dhabi, United
Arab Emirates.
Arbitrage.
The buying of foreign exchange, securities, or commodities in one market and the
simultaneous selling in another market, in terms of a third market. By this manipulation a
profit is made because of the difference in the rates of exchange or in the prices of
securities or commodities involved.
Arms Control and Disarmament Agency.
ACDA is an independent agency within the State Department. ACDA participates in
interagency working groups that discuss export license applications requiring dispute
resolution. ACDA is interested in dual-use license applications from a non-proliferation
perspective -- anything that could impact on the proliferation of missiles, chemical and
biological weapons, and nuclear weapons. ACDA's positions need not be consonant with those
of State. The Agency was created in 1961, has about 200-to-250 staff, and has a fairly
substantial and growing technology transfer and export control function. The Director is
the principal arms control adviser to the Secretary of State, the President and the NSC on
conventional arms transfer, commercial sales of munitions; nuclear, missile, chemical and
biological warfare; East-West military munitions issues, CoCom, and negotiating MOUs with
the 3rd world on strategic trade.
Arrangement on Guidelines for
Officially Supported Export Credits.
The Arrangement is an international agreement under Organization for Economic Cooperation
and Development auspices governing the conditions -- such as interest rate, repayment
term, and cash down payment -- of medium- and long-term official export credit; it does
not apply to strictly private credit. For example, the Arrangement specifies how
governments relate the interest rate on their export credits to market levels. Though
informal and non-enforceable, Arrangement guidelines are regularly observed by the 22
OECD member governments that are "Participants" to the agreement.
Articles and Memorandum of
Association.
See Association.
ASEAN Free Trade Area.
The Association of Southeast Asian Nations (ASEAN) agreed in January 1992 to create a free
trade area (ASEAN Free Trade Area, or AFTA) with use of a common effective preferential
tariff. Under the agreement ASEAN members will cut tariff rates within 15 years of its
start date of January 1994.
Manufactured goods from 15 sectors designated as "fast track" are subject to
tariff reduction to 0-5 percent within 10 years, and seven years if the starting rates
were already below 20 percent. "Fast track" sectors include vegetable oils,
cement, chemicals, pharmaceuticals, fertilizer, plastics, rubber products, leather
products, pulp, textiles, ceramic and glass products, gems and jewelry, copper cathodes,
electronics, and wooden and tartan furniture.
See: Association of Southeast Asian Nations.
Asian Clearing Union.
The ACU promotes regional trade and economic cooperation, including arrangements to
conserve foreign exhcange and encourage domestic currencies in trade. Members include Bangladesh,
India, Iran, Myanmar, Nepal, Pakistan, and Sri Lanka; Bhutan, Malaysia, the Peoples'
Republic of China, the Philippines, Thailand, and Vietnam have expressed interest in
membership. The Union was established in 1974; headquarters are in Tehran, Iran.
Asian Development Bank.
The ADB helps finance economic development in developing countries in the Asian and
Pacific area through the provision of loans on near-market terms, with its Ordinary
Capital Resources (OCR), and on concessional terms, through the Asian Development Fund
(ADF). The ADB was established in 1965 (began operating in December 1966); headquarters
are in Manila, Philippines.
See Asian Development Fund.
Asian Development Fund.
The ADF (or AsDF), an affiliate of the Asian Development Bank, lends funds on
concessionary terms to the Bank's least developed member countries.
See Asian Development Bank.
Asian Dollars.
U.S. dollars deposited in Asia and the Pacific Basin.
See Eurodollars.
Asia Pacific Economic Cooperation (APEC).
APEC, established in November 1989, is an informal grouping of Asia Pacific countries that
provides a forum for Ministerial level discussion of a broad range of economic issues.
APEC includes the six ASEAN countries (Brunei, Indonesia, Malaysia, Philippines,
Singapore, and Thailand), plus: Australia, Canada, China, Hong Kong, Japan, New Zealand,
South Korea, Taiwan, and the United States.
Asociaciòn Latinoamericana de
Institutiones Financieras de Desarrollo.
See Latin American Association of Development Financing Institutions.
Asociación Latinoamericana de
Integración.
See Latin American Integration Association.
Assessment.
The imposition of antidumping duties on imported merchandise.
See: Tariff Act of 1930.
Assets.
Everything a company or individual owns or is owed.
Associate.
One associated with another in an undertaking; closely or usually connected with another
party or organization with common interests, as if a partner.
Association.
Articles and Memorandum of Association. In common law jurisdictions these two documents
comprise the constitution of a company and govern the powers of the company to trade,
issue shares, and borrow money as well as defining the relationships between the
shareholders, directors and the officers of the company.
Association des Banques Centrales
Africaines.
See Association of Central African Banks.
Association of African Development
Finance Institutions.
AADFI (French: Association des Institutions Africaines de Financement du
D‚veloppement, AIAFD) promotes cooperative financing for social development in Africa
and economic integration. The Association was established in March 1975; headquarters are
in Abidjan, Côte d'Ivoire.
Association of African Trade
Promotion Organizations.
AATPO promotes inter-African trade, harmonization of commercial policies, communication
among African states in trade matters, and research and training. The organization, which
has about 26 members, was established in 1975 under the auspieces of the Organization for
African Unity and the African Development Bank; headquarters are in Tangier, Morocco.
Association of Central African
Banks.
ACAB (French: Association des Banques Centrales Africanines, ABCA) promotes cooperation
among monetary, banking, and financial institutions in Africa. Members include two African
regional banks and about 32 national banks. The Association was created in 1968;
headquarters are in Dakar, Senegal.
Association of Coffee Producing
Countries.
See International Coffee Agreement.
Association of International Bond
Dealers.
The AIBD provides a forum for over 500 members from 30 countries to review international
securities market matters. The primary objectives of the Association are to provide a
basis for examination and discussion of questions relating to the secondary market in
Eurosecurities, to issues rules governing their functions, and to maintain a close liaison
between the primary and secondary markets in Eurosecurities. IABD was established in 1969;
headquarters are in Zurich, Switzerland.
Association of South East Asian
Nations (ASEAN)
ASEAN's rapid growth is a result of its economic integration into the ASEAN Free Trade
Agreement (AFTA) and world markets, strong privatization initiatives, double digit
economic growth rates, expanding purchasing power, falling market access barriers and
massive infrastructure projects.
By the year 2010 the ASEAN region will boast 686 million consumers, a combined GDP of U.S.
$1.1 trillion and the benefit of over $1 trillion in new infrastructure projects.
Audit.
Auditing is the examination of the accounts books and records of a company by an
independent person with a view to that person expressing an opinion on the accounts
presented by the company. It is a legal requirement in many countries, although the scope
of the audit is often reduced for smaller companies.
Auditor's report.
The independent accounting firm's opinion on whether the company's financial statements
conform to ge nerally accepted accounting pronciples.
Ausfuhrkredit-Gesellschaft (AKA).
AKA (English: Export Credit Establishment) is an association of German banks which provide
medium and long-term funding for exports.
(Die) Ausstellungs- und
Messe-Ausschuss der Deutschen Wirtschaft (AUMA).
AUMA (German: the German Industry Council for Exhibitions and Trade Fairs) promotes
exports by bringing together government, semiprivate, and private organizations in the
coordination of domestic and overseas trade events. AUMA is a private organization and
receives no government funds to support its general operations. The government may provide
funds for special projects, such as research. AUMA also collects and distributes
information to German firms on trade fairs worldwide.
Australia Group.
The Australia Group, AG, is an informal forum through which 22 industrialized nations
cooperate to curb proliferation of chemical and biological weapons through a supply
approach. The AG's first meeting, held
at the Australian Embassy in Paris in June 1986, was attended by Australia, Canada, Japan,
New Zealand, the United States, and those nations that were then members of the European
Community. Membership has expanded to include Norway, Portugal, Spain, Switzerland, Austria,
Argentina, Finland, Hungary, Iceland, and representatives of the European Commission, the
European Community's executive arm.
Authority to Pay.
A document comparable to a revocable letter of credit but under whose terms the authority
to pay the seller stems from the buyer rather than from a bank.
Auto Pact
An agreement on automotive products between the government of the United States and Canada
that went into effect in September 1966. The pact has resulted in a large increase in
bilateral automotive trade.
Automated Broker Interface ABI).
ABI, a part of Customs' Automated Commercial System, permits transmission of data
pertaining to
merchandise being imported into the United States. Qualified participants include brokers,
importers, carriers, port authorities, and independent data processing companies referred
to as service centers.
Automated Clearinghouse ACH).
The Automated Clearinghouse (ACH) is a feature of the Automated Broker Interface which is
a part of Customs' Automated Commercial System. The ACH combines elements of bank lock box
arrangements with electronic funds transfer services to replace cash or check for payment
of estimated duties, taxes, and fees on imported merchandise.
Automated Commercial System (ACS).
The Customs Service's Automated Commercial System, ACS, is a joint public-private sector
computerized data processing and telecommunications system linking customhouses, members
of the import trade community, and other government agencies with the Customs computer.
Trade users file import data electronically, receive needed information on cargo status,
and query Customs files to prepare submissions. Duties, taxes, and fees may be paid by
electronic statement, through a Treasury-approved clearinghouse bank. ACS contains the
import data used by Census to prepare U.S. foreign trade statistics. ACS began operating
in February 1984 and includes: (a) the Automated Broker Interface, (b) the Census
Interface System, (c) the Automated Manifest Systems, (d) the Bond System, (e) the In-Bond
System, (f) the Cargo Selectivity System, (g) the Line Release System, (h) the Collections
System, (i) the Security System, (j) the Quota System, (k) the Entry Summary Selectivity
System, (l) the Entry Summary System, (m) the Automated Information Exchange, (n) the
Antidumping/Countervailing Duty System, (o) the Firms System, (p) the Liquidation System,
(q) the Drawback System, (r) the Fines, Penalties, and Forfeitures System, and (s) the
Protest System.
Automated Export Reporting Program
(AERP).
The AERP provides for electronic submission of most information required on the Shipper's
Export Declaration. The program was initiated in 1969 with the intent of enabling large
volume exporters to submit electronically and facilitate Census Bureau data entry and
analysis. AERP was expanded in 1982 to allow freight forwarders, and again in 1985 to
allow ocean carriers, to file electronically. At the beginning of fiscal year 1994, about
220 firms -- accounting for 350,000 to 400,000 records a month -- were participating in
AERP. The program is administered by the Automated Data Reporting Branch, Foreign Trade
Division, Bureau of the Census. Telephone: 301-763-7774.
See Shipper's Export Declaration.
Automated Information Exchange
(AIES).
AIES, a part of Customs' Automated Commercial System, allows for exchange of
classification and value information between field units and headquarters.
Automated Manifest Systems (AMS).
AMS, a part of Customs' Automated Commercial System (ACS) controls imported merchandise
from the time a carrier's cargo manifest is electronically transmitted to Customs until
control is relinquished to another segment of the ACS.
Automated Trade Locator Assistance
Network (ATLAS).
ATLAS is a Small Business Administration-sponsored, contractor-operated, automated system
which provides market research information and statistics on world markets by SIC code
(and possibly harmonized system). Indirect access is available for businesses, with
arrangements through the local SBA district office. ATLAS, which became operational in
Spring 1993, replaced SBA's export information system (XIS).
Autorité du Bassin du Niger.
See Niger Basin Authority.
Average.
Any loss or damage due to ins ured perils that is less than a total loss. Two types of
average occur: Particular Average and General Average.
Back to Business
Bookstore
Visit Business
Reading Room
|
|
