Int Marketing 2 - Institutions & World Economy

8/3/2019 Int Marketing 2 - Institutions & World Economy

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Institution & world EconomyInternational Marketing

Prof: Sham Choughule

Indian Institute of Foreign TradeNew Delhi
http://en.wikipedia.org/wiki/File:Country_foreign_exchange_reserves_minus_external_debt.pnghttp://www.oecd.org/home/0,3305,en_2649_201185_1_1_1_1_1,00.html


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Background

Various macro economic issues likeeconomic growthPopulation-Inflation-Balance of Trade-Balance of Payment

Free Trade agreements are affectinginternational marketing activities.

Therefore, study of these factors,

especially economy and trading blocs isimportant in international Trade


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Rank Country

Per captia GDP in $Population in

Million

GDP in $

trillion

1 USA 46.003 310 14.3

2 Japan 39.787 127 5.1

3 China 3.666 1.339 4.9

4 Germany 41.008 82 3.4

5 France 40.887 65 2.7

6 UK 35.196 62 2.2

7 Italy 35.105 60 2.1

8 Brazil 8.142 193 1.6

9 spain 31.182 47 1.5

10 Canada 39081 34 1.311 India 1.044 1.184 1.2

12 Russia 8.661 142 1.2

Top 12 economies in the world -2010

Source: IMF


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Economic factors & marketing

Economic growthGDP growth in China &India InflationLess demand for goods due to higher inflation

BOT- Import is more than exportnegative trade

balanceimport restrictionimport is not priority BOPis a record of all of the economic transaction

between residence of the ountry and rest of the world

Example- Insurance-shipping freighttourist

Therefore, single most important characteristic of theglobal market environment is economic dimension


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Global Personal tax ratesGlobal Personal tax in %

Rank Country Tax %

1 Denmark 62

2 Swden 55

3 China 45

4 Germany 42

5 France 40

6 USA 35

7 India 30

8 Canada 29

9 Bangaladesh 25

10 Singapore 20i

Higher tax means low saving could not create demand for goods


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Economic systems

CapitalistUSA-Europe- Japan

SocialistOld USSR-Israel

Mixed EconomyIndia

Highlight of world economy

$ 4 Trillion of trade in good & services per year $ 1 Trillion Foreign Exchange transaction per day


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Highest rate of Inflation in the world

Rank Country inflation % Rank Country inflation %

1 Zimbabwe 384.7 11 Zambia 21.4

2 Angola 76.6 12 Uruguay 19.4

3 Burma 49.7 13 Ethiopia 17.8

4 Haiti 37.8 14 Suriname 17

5 Venezuela 31.1 15 Iran 16.4

6 Iraq 29.3 16 Tajiistan 16.3

7 Belarus 28.2 17 laos 15.3

8 Dominican 27.5 18 Romania 15.3

9 Ghana 26.7 19 Liberia 15

10 Turkey 25.3 20 Guinea 14.8


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OCED OECD brings together the governments of

countries committed to democracy and themarket economy from around the world to:

Support sustainable economic growth

Boost employment Raise living standards

Maintain financial stability

Assist other countries' economic development Contribute to growth in world trade


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Fast factsEstablished: 1961conventionLocation:Paris, FranceMembership:32 countriesBudget:EUR 328 millionSecretariat staff:2 500Secretary-General:Angel Gurra

Publications:250 new titles/yearOfficial languages:English/FrenchConsulttheSecretary-General's Annual

Report

OCED

The OECD is represented outsideof Paris by Centres.They serve as regional contactsfor the full range of OECDactivities, from the sales ofpublications, to inquiries from themedia, to liaison withgovernments, parliaments,business, labour and civil society.

Berlin

Mexico City Tokyo Washington
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Members

Old 2007

In May 2007, OECD countriesagreed to invite Chile, Estonia,Israel and Russia to opendiscussions for membership of

the Organisation and offeredenhanced engagement toBrazil, China, India, Indonesiaand South Africa. The approvalof so-called "road maps" inDecember 2007 marked the

start of accession talks withChile, Estonia, Israel, Russiaand Slovenia

Australia,Austria, Belgium, Canada,Chile, CzechRepublic, Denmark, Finland,

France,Germany, Greece, Hungary,Iceland, Ireland, Italy, Japan,Korea,Luxembourg, Mexico, theNetherlands,

New Zealand, Norway,Poland, Portugal,Slovak Republic, Slovenia,Spain, Sweden,Switzerland, Turkey, UnitedKingdom, United States

The 32 member countries of

OECD are:
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GATT

General Agreement on Tariff & Trade

1947-Treaty among 123 member countries

Objectives To promote trading among members

Succeeded in liberalizing world merchant

trade 1st Jan 1995 Establishment of WTO


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GATT

The original GATT (GATT 1947) is still in effect underthe WTO framework, subject to the modifications ofGATT 1994.

The General Agreement on Tariffs and Trade(GATT) covers international trade in goods.

The workings of the GATT agreement are theresponsibility of the Council for Trade in Goods

(Goods Council) which is made up ofrepresentatives from all WTO member countries


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GATT & International marketing

Subsidy for Agriculture

Market access for goods

Sanitary & Phytosanitary measure

Anti Dumping duty

Customs valuation

Rules of origin

Import licensing

Safeguards


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WTO

The World Trade Organization (WTO) is theonly global international organization dealing

with the rules of trade between nations. At itsheart are the WTO agreements, negotiatedand signed by the bulk of the worlds tradingnations and ratified in their parliaments. The

goal is to help producers of goods andservices, exporters, and importers conducttheir business
http://www.wto.org/index.htm


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UNCTAD

The first United Nations Conference on Tradeand Development (UNCTAD) was held inGeneva in 1964. Given the magnitude of the

problems at stake and the need to addressthem, the conference was institutionalized tomeet every four years, with intergovernmentalbodies meeting between sessions and a

permanent secretariat providing the necessarysubstantive and logistical support


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UNCTAD

United Nations Conference on Trade andDevelopment (UNCTAD Established in 1964,

UNCTAD promotes the development-friendlyintegration of developing countries into the world

economy

Group of 131 countries


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UNCTAD Functions

A forum for intergovernmental deliberations, supported bydiscussions with experts and exchanges of experience, aimed atconsensus building.

It undertakes research, policy analysis and data collection for the

debates of government representatives and experts.

It provides technical assistance tailored to the specificrequirements of developing countries, with special attention to theneeds of the least developed countries and of economies in

transition. When appropriate, UNCTAD cooperates with otherorganizations and donor countries in the delivery of technicalassistance.


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Agreement of UNCAD

The Generalized System of Preferences(1968), whereby developed economies grantimproved market access to exports fromdeveloping countries.

A number of International CommoditiesAgreements, which aimed at stabilizing theprices of export products crucial for developingcountries.


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Agreement of UNCAD

the Convention on a Code of Conduct for LinerConferences, which strengthened the ability ofdeveloping countries to maintain nationalmerchant fleets.

the adoption of a Set of Multilaterally AgreedEquitable Principles and Rules for the Controlof Restrictive Business Practices. This worklater evolved into what is today known as Tradeand Competition Policies.


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Trading blocs

PTA-preferential Trade Agreement

FTA-Free Trade Area

Customs Union Common Market

Economic union

Spect m of Fo mal Regional T ading A angements


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Spectrum of Formal Regional Trading Arrangements


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FTA

FTA have the ability to createopportunities and can help tight theslowdown in global trade

Example

Many companies shifted their operationbase from USA/EU to India and China andFar East countries to restore themselves

From recession 2008 (shipping company)


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Free Trade Agreements (FTAs)

Where all tariff and non-tariff barriers areabolished and free access is allowed to theproducts of member countries.

In FTA, each member is free to maintaindifferent most-favoured-nation (MFN) barriers onnon-members. (Example SPTA and ISFTA )

Rules of Origin between the members of FTA is

agreed to ensure that genuine products of theFTA partners alone are given duty-free access(World Bank 2005)


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Customs Unions

Customs Unions (CUs) A Customs Unionmoves beyond a free trade area byestablishing a common external tariff on all

trade between, members and non-members.

Customs Unions typically contain

mechanisms to redistribute tariff revenueamong members.


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Common Markets (CMs)

A Common Market deepens a customsunion by providing free flow of factors ofproduction such as labour and capital in

addition to the flow of outputs.

Example

Central America Common Market

MERCOSUR


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MERCOSUR (Mercado Comun del Cono Sur, also known as SouthernCommon Markets


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Economic Unions (EUs)

In an Economic and Monetary Union,members share a common currency andmacro-economic policies (Example

European Union).


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EU-27 is largest single market in the world with 27 countries

15+10+2= 27 from 1 1 2007 Rumania and Bulgaria


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North America Free Trade Agreement

Canada Maxico -& USA This is major FTA in the world


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MERCOSUR (Mercado Comun del Cono Sur, also known as SouthernCommon Markets


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10 ASEAN Countries


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Indias Major Trade partner

Direction of India's Foreign Trade

Destination of India's Export Source of India's Import

Area share % Area share %

EU-27 countries 21.8 EU-27 countries 13.3

Rest of Europe 1.57 Rest of Europe 5.5

Africa 6.7 Africa 6.9North America 12.8 North America 6.7

Latin America 3.9 Latin America 3.5

ASEAN 10.5 ASEAN 8.6

East Asia 0.97 East Asia 3.5

WANA 21.2 WANA 30.3

South Asia 5.1 South Asia 0.6

Rest of Asia 14.75 Rest of Asia 18.4

Other 0.71 other 2.7

Total 100 Total 100


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Indias FTA

SAPTA- SAARC preferential Trading Agreement

BangladeshBhutanIndia-The Maldives-NepalPakistan-Sri Lanka and Afghanistan

APTA-Asia Pacific Free Trade Agreement BangladeshChina-India-South Korea and Shi Lanka

IndiaThailand FTA

India-Singapore CECAComprehensive Economic Co

operation Agreement


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Indias Trade Relations

The India-Asian Free Trade Agreement in goodswhich will eliminate tariffs on 4000 product over6 years already in operation in 2010

Direct benefit from 1)Singapore 2) Thailand 3)Malaysia 4)Indoneasia

5)Philippines 6) Brunei 7)Vietnam 8) Laos 9)Myanmar10)Combodia

Indirect benefit :ASEAN has a FTA with China-SouthKorea and Japan


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Indias present & Future Agreement

Agreement No of Countries

1 SAPTA 8

2 EU 27 27

3 ASEAN 10

4 MERCOSUR 4

5 Gulf 6

Total 55

If all the negotiations India is having now are completing successfully nearly80% of our trade will be with FTA partner


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Thanks

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Documents

Int Marketing 2 - Institutions & World Economy