A Term Paper

ON

Analysis of Global Institutions

A Term Paper

On

Course Code: BUS-303

Course Title: International Business

Bangladesh University of Business & Technology

(BUBT)

Submitted To:

Sahadat Hossain

Lecturer in Management.

Submitted By:

NAME ID

K.M.Zobaed Iqbal 08093101095

MD.Khaled Saifullah 08093101101

MD.Sarifuzzaman 08093101128

Enamur Rahman 08093101132

Shahinoor Hoque 08093101106

Jabun Nahar Pieya 08093101096

Analysis of Global Institutions

Dhaka Commerce College Road, Mirpur, Dhaka-1216

5th January 2012

Sahadat Hossain

Lecturer in Management

Department of HRM

Bangladesh University of Business and Technology (BUBT)

Mirpur-2, Dhaka-1216.

Subject: S ubmission of Term paper

Dear Sir,

With due respect, we would like to inform you that, this is the Term Paper which was

assigned to us. This Term Paper is prepared as titled ‘Analysis of global institutions’ In

this Term Paper, we have tried our best to provide all information as per requirement.

We are confident that this Term Paper contains all the specific requirements. But

because of time, cost constraints, it is evident that it may contain some minor mistakes

for which we feel sorry from core of our heart.

If any assistance is required about the interpretation of this Term Paper, we will always

be available.

Thanking you for your time and kind considerations.

On the behalf of group Signature;

K.M.Zobaed Iqbal

Date of Submission : 5th December 2012

iii

By the grace of Almighty Allah, the most benevolent merciful, we have been successfully

to complete this report. Then we are grateful to my adorable parents who had bring me

in this world and given me the opportunity to study and my parents like course instructor

Sahadat Hossain who have given better direction to complete this Report. We do not

claim that this report is original in presentation. We have collected materials from

different sources. We greatly acknowledge all suggestions received to enhance further

the value of this report. The suggestion has been incorporated whenever possible. We

are trying to give our best efforts notwithstanding small errors do creep into the project.

We are ever gratefully to our followers for drawing our attention to such, so that they

may squash. We are extremely grateful to our honorable teacher Sahadat Hossain,

Lecturer in Management Bangladesh University of Business & Technology,Who

constantly took keen interest in boosting our morale and in spite of his busy schedule. It

is our pleasant duty to put on record our sincere thanks to many of our friends for their

occasional helps and encouragements in different stages of writing the manuscript.

While every effort has been made to ensure accuracy, it cannot be claimed that the

report is error-free. In case of any confusion or doubt on any aspects of this report, we

may contract in any time.

ACKNOWLEDGEMENTACKNOWLEDGEMENT

iv

v

Number Institution name Acronym

1. WTO World Trade Organization

2. WB World Bank

3. IMF International Monetary Fund

4. UN United Nation

5. IDB Islamic development Bank

6. ADB Asian Development Bank

7. SAARC South Asian Association for Regional Cooperation

8. SAFTA South Asian Free Trade Area

9. EU European Union

10. ASEAN Association of Southeast Asian Nations

11. BIMSTEC Bengal Initiative for Multi-Sectoral Technical and Economic

Cooperation

12. OPEC Organization of the Petroleum Exporting Countries

13. NAFTA North American Free Trade Agreement

List of Table & Graph

Table of Contents:

SL. No. Sub No. Title / Particulars Page Number

Latter of Transmittal iii

Acknowledgement iv

Executive Summary v

List of Acronym v i

Part-1 1.0 Introduction

1.1 Background 1

1.2 Objectives 1

1.3 Methodology. 1-2

1.4 Scope of the report. 2

1.5 Limitations. 2

Part-2 2.0 Global Institutions

2.1 WTO (World Trade Organization) 3-4

2.2 WB (World Bank) 5

2.3 IMF (International Monetary Fund) 6-7

2.4 UN (United Nation) 7-8

2.5 IDB (Islamic Development Bank) 8-9

2.6 ADB (Asian Development Bank) 9-10

2.7 SAARC (South Asian Association for Regional Cooperation)

10-11

2.8 SAFTA (South Asian Free Trade Area) 11-12

2.9 EU (European Union) 12-13

2.10 ASEAN (Association of Southeast Asian Nations) 13-14

2.11 (BIMSTEC) Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation

15

2.12 OPEC (Organization of the Petroleum Exporting Countries)

16-17

2.13 NAFTA (North American Free Trade Agreement) 17-18

Part- 3 3.1 Finding Analysis 19-20

Part- 4 4.1 Conclusion 21

4.2 Recommendation 21-22

Part- 5 5.1 Reference 23

Knowledge and learning become perfect when it is associated with theory and practice.

Theoretical knowledge gets its perfection with practical application. As our educational

system predominantly text based, here, students can train and prepare themselves for

the job market In today's world only academic education does not make a student perfect to

become competitive with the outside world. Practical work is highly needed to gain idea,

knowledge and experience from all over the world. Bangladesh University of Business

and Technology, One of the reputed business schools in Bangladesh, has designed the

curriculum of the BBA course such a way that the international standard graduates will be

produced. For the partial fulfillment of BBA program, our faculty of Management

assigned us to write a term paper on “Analysis of Global Institution”. We have collected

information from the internet and we have tried to learn about those international

institution as well as those activities. We wish after completing BBA program we will able

to use those knowledge in business fields.

EXECUTIVE SUMMARYEXECUTIVE SUMMARY

Part 1

1.0Introduction

1.1 Background:

Bangladesh University of Business and Technology, One of the reputed business schools

in Bangladesh, has designed the curriculum of the BBA course such a way that the

international standard graduates will be produced. For the partial fulfillment of BBA

program, our faculty of Management assigned us to write a report on “Analyze of

Global Institution”. This report is an international related report prepared as a

requirement for the completion of the “International Business” a course that is included in

BBA program of Bangladesh University of Business and Technology (BUBT). The

primary goal of this report is to provide minimum knowledge about global institution to

the student.

1.2 Objectives

To gather knowledge of international institutions.

To provide current activity of global institutions.

To know establishment year of global institutions.

To learn working system of global institutions.

1.3 Methodology:

1.3.1. Type of Research:

This Proposal is a descriptive type of research in nature and it administered by collecting

both primary and secondary data. It has tried to use both the primary and secondary

sources of collecting information and some are to make the report presentable with as

less abstraction as possible.

1.3.2. Sources of data:

In order to attain the objective of the study in this report all-necessary information are

prepared by collecting only from secondary sources of data because primary source is

not available and those are:

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1.3.2.1. Primary sources:

Generally, primary data is collected from institution directly. All institution is situated

outside of our country. So we could not collect information from primary sources.

1.3.2.2. Secondary sources:

Secondary data collected to make the report concrete. These data has been collected

from web sites and finally we have able to write this term paper.

1.4 Scope of the report:

The scope of the term paper is confined to International institution. The term paper is the

consisted analysis of several international institutions.

1.5 Limitations:

The study is not free from some practical limitations. Following limitations have faced

during the study and the time of working & data collection:

Time and budget constraints for this kind of term paper.

Lack of instrumental facilities to get proper information.

Only simple statistical tools were used for data analysis.

Due to the confidentiality concern, much detailed information could not retrieve.

Lack of Records, Sufficient books, unavailable information in website. These

constraints narrowed the scope of accurate analysis.

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Part 2

2. Global Institution

2.1 WTO (World Trade Organization):

Short history:

The World Trade Organization (WTO) is an organization that intends to supervise and

liberalize international trade. The organization officially commenced on January 1, 1995

under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade

(GATT), which commenced in 1948. The organization deals with regulation of trade

between participating countries; it provides a framework for negotiating and formalizing

trade agreements, and a dispute resolution process aimed at enforcing participants'

adherence to WTO agreements which are signed by representatives of member

governments and ratified by their parliaments. Most of the issues that the WTO focuses

on derive from previous trade negotiations, especially from the Uruguay Round (1986–

1994). The organization is currently endeavoring to persist with a trade negotiation

called the Doha Development Agenda (or Doha Round), which was launched in 2001 to

enhance equitable participation of poorer countries which represent a majority of the

world's population.

Objective:

The World Trade Organization — the WTO — is the international organization whose primary purpose is to open trade for the benefit of all. The WTO provides a forum for negotiating agreements aimed at reducing obstacles to international trade and ensuring a level playing field for all, thus contributing to economic growth and development.

Number of members:

The current number of members of WTO is 157.New Members Montenegro, Russia and

Samoa has joined on 16 December 2011.

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Current activities:

At the 8th WTO Ministerial Conference of 15-17 December 2011, Australia announced it

will give three donations to WTO development programmes. The Appellate Body, on 21

December 2011, issued its reports in the case “Philippines — Taxes on Distilled Spirits”.

At the meeting of the Dispute Settlement Body on 19 December 2011, the EU

announced it had taken all appropriate steps to implement the Airbus rulings

Structure:

The structure of WTO is given below:

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2.2 WB (World Bank):

Short History:

The World Bank is one of five institutions created at the Bretton Woods Conference in 1944. The International Monetary Fund, a related institution, is the second. Delegates from many countries attended the Bretton Woods Conference. The most powerful countries in attendance were the United States and United Kingdom, which dominated negotiations. Although both are based in Washington, D.C., the World Bank is, by custom, headed by an American, while the IMF is led by a European.

Objective:

The main objectives behind setting up this international organisation were to aid the task of reconstruction of the war-affected economies of Europe and assist in the development of the underdeveloped nations of the world.

Number of members:

The number of members under each institution of world bank are given below:

The International Bank for ReconstrSuction and Development (IBRD) 187, The

International Development Association (IDA) 171, The International Finance Corporation

(IFC) 183, The Multilateral Investment Guarantee Agency (MIGA) 175, The International

Centre for Settlement of Investment Disputes (ICSID) 147.

Current activities:

The World Bank’s Board of Executive Directors approved an International Bank for Reconstruction and Development (IBRD) loan worth €400 million for Romania on December 19 2011. The World Bank Group (WBG) will continue to support Pakistan’s poverty reduction and development agenda with an expected assistance of up to $5.5

Structure:

Technically the World Bank is part of the United Nations system, but its governance structure is different: each institution in the World Bank Group is owned by its member governments, which subscribe to its basic share capital, with votes proportional to shareholding. Membership gives certain voting rights that are the same for all countries but there are also additional votes that depend on financial contributions to the organization. The President of the World Bank is nominated by the President of the United States and elected by the Bank's Board of Governors.

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2.3 IMF (International Monetary Fund):

Short History:

As the Second World War ends, the job of rebuilding national economies begins. The

IMF is charged with overseeing the international monetary system to ensure exchange

rate stability and encouraging members to eliminate exchange restrictions. The

International Monetary Fund was conceived on July 22, 1944 during the United Nations

Monetary and Financial Conference. The IMF’s influence in the global economy steadily

increased as it accumulated more members. The expansion of the IMF’s membership,

together with the changes in the world economy,

Objective:

The IMF's primary objective is to ensure the stability of the international monetary

system—the system of exchange rates and international payments that enables

countries (and their citizens) to transact with one other. This system is essential for

promoting sustainable economic growth, increasing living standards, and reducing

poverty.

Number of members:

The IMF has 187 member countries.

Current activities:

Recent economic developments have been encouraging in sub-Saharan Africa (SSA).

Growth was more resilient than in most other regions during the recent global economic

downturn, with real GDP increasing by more than 3 percent.

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Structure:

The diagram below provides a stylized view of the IMF's current governance structure:

The Board of Governors is the highest decision-making body of the IMF. The Boards of

Governors of the IMF and the World Bank Group normally meet once a year, during the

IMF-World Bank Spring and Annual Meetings,

2.4 UN (United Nation):

Short History:

The United Nations is an international organization founded in 1945 after the Second

World War by 51 countries committed to maintaining international peace and security,

developing friendly relations among nations and promoting social progress, better living

standards and human rights.

Objective:

The main objectives of UN are provide Peacekeeping and security to members countries, ensure Human rights and humanitarian assistance, Social and

economic development.

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Number of members:

There are currently 193 United Nations member states.

Current activities:

United Nations programme of technical cooperation - promotion of economic and social development for the advancement of all peoples.

Structure:

The Charter established six principal organs of the United Nations: the General Assembly, the Security Council, the Economic and Social Council, the Trusteeship Council, the International Court of Justice, and the Secretariat. The United Nations family, however, is much larger, encompassing 15 agencies and several programmes and bodies.

2.5 IDB (Islamic Development Bank:

Short history:

The Islamic Development Bank is an international financial institution established in

pursuance of the Declaration of Intent issued by the Conference of Finance Ministers of

Muslim Countries held in Jeddah in Dhul Q'adah 1393H, corresponding to December

1973. The Inaugural Meeting of the Board of Governors took place in Rajab 1395H,

corresponding to July 1975, and the Bank was formally opened on 15 Shawwal 1395H

corresponding to 20 October 1975.

Objective:

The objective of the Bank is to foster the economic development and social progress of member countries and Muslim communities individually as well as jointly in accordance with the principles of Shari'ah i.e., Islamic Law.

Number of members:

The present membership of the Bank consists of 56 countries.

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Current activities:

A review of the IDB's current portfolio of project activities involving some type of climate-

change benefit.

Structure:

The Board of Executive Directors (BED) is the body responsible for the direction of the

general operations and policies of the Bank and, for this purpose, shall, in addition to the

power assigned to it expressly by the Articles of Agreement, exercise all powers

delegated to it by the Board of Governors. In the current term, the BED is composed of

eighteen members : Nine Executive Directors appointed by their countries, which are the

main shareholders, while nine others are elected by the Governors of other countries.

The term of office in the BED is a renewable period of three years.

2.6 ADB (Asian Development Bank): 

Short history:

Established in 1966, we are a major source of development financing for the Asia and

Pacific region. With more than $17.5 billion in approved financing, and 2,800 employees

from 59 countries, ADB - in partnership with member governments, independent

specialists and other financial institutions - is focused on delivering projects that create

economic and development impact.

Objective:

The Asian Development Bank aims for an Asia and Pacific free from poverty. Approximately 1.8 billion people in the region are poor and unable to access essential goods, services, assets and opportunities to which every human is entitled.

Number of members:

ADB has grown to encompass 67 members.

Current activities:

ADB has recently engaged in an increasing amount of microfinance

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Structure:

Article 28 of the ADB Charter vests all the powers of the institution in the Board of

Governors, which in turn delegates these powers to the Board of Directors, except for

those powers reserved for the Board of Governors in the Charter. The structure of ADB

‘s board of governors are given below:

Cesar V. Purisima(Chair)

Gudrun Kopp(Vice Chair)

Barshaman Pun(Vice Chair)

2.7 SAARC (South Asian Association for Regional Cooperation):

Short history:

SAARC was established to promote regional cooperation and integration to improve the

well being and quality of life of the people of South Asia. This Association was founded

on the firm conviction that South Asia shares a common future and destiny shaped by

our close historical, cultural and geographical ties. Indeed, since its inception, SAARC

has engendered mutually beneficial cooperation in many diverse areas and promoted

greater understanding, goodwill and cooperation among the people and Governments of

South Asia. It has served as an important platform to build mutual trust, confidence and

sustained interaction and engagement to address and overcome the common

challenges faced by the region and seize opportunities

Objective:

The objectives are to promote quality of life and economic growth in the region,

strengthens collective self-reliance, to encourage active collaboration in economic,

technical and scientific fields, aims at increasing people-to-people contact and sharing of

information among the SAARC members.

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Number of members:

Current members of SAARC are 8 countries.

Current activities:

Integration of Capital Markets in SAARC Region.

Structure:

SAARC has established a permanent secretariat in Kathmandu (Nepal) and it is

functioning since 1987. The head of the State of the host country acts as Chairman till

the next summit when the chairmanship is handed over to the next host country.

2.8 SAFTA (South Asian Free Trade Area):

Short history:

The South Asian Free Trade Area or SAFTA is a pact signed in 6 January 2004 that

would gradually eliminate most tariffs and other trade barriers on products and services

passing between the Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal,

Pakistan, Afghanistan and Sri Lanka. The pact would effectively create a free-trade bloc

among the seven countries of South Asia.

Objective:

SAFTA requires the developing countries in South Asia (India, Pakistan and Sri Lanka)

to bring their duties down to 20 percent in the first phase of the two year period ending in

2007. In the final five year phase ending 2012, the 20 percent duty will be reduced to

zero in a series of annual cuts.

Number of members:

8 members (Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan,

Afghanistan and Sri Lanka)

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Current activities:

SAFTA organizes a wide range of student activities as well as a programme of

professional development for teachers.

Structure:

SAFTA divides the eight member countries into least developing countries and non-least

developing countries. Member countries accrue benefits and obligations depending on their

categorization as either a least developing country or non-least developing country. Least

developing countries have longer time periods to lower their own tariffs while gaining faster

access to other countries’ lower tariffs.

2.9 EU (European Union):

Short history:

The European Union is a unique economic and political partnership between 27

European countries. It has delivered half a century of peace, stability, and prosperity,

helped raise living standards, launched a single European currency, and is progressively

building a single Europe-wide market in which people, goods, services, and capital move

among Member States as freely as within one country.

Objective:

European Union works toward and oversees the economic and political integration of

these states. The European Union consists of the European Community (q.v.; formerly

European Economic Community) and a framework for unified action by member

countries in security and foreign policy and for cooperation in police and justice matters.

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Within the Union, goods, services, capital and people move freely. The monetary union

has advanced to its third stage, and in 1999, a single currency, euro, is going to be

introduced. Negotiations with the five new member canditates (Hungary, Poland, Czech

Republic, Slovenia, Estonia) start in 1998.

Number of members:

27 members (Germany, Italy, France, Netherlands, Belgium, Luxembourg, Ireland, UK, Denmark, Spain, Portugal, Greece, Austria, Sweden, Finland, Estonia, Latvia, Lithuania, Poland, Czec Rep, Slovakia, Slovenia, Malta, Cyprus, Hungary, Romania and Bulgaria.)

Current activities:

Current work being done by the EU Platform for Action on Diet, Physical Activity and

Health.

Structure:

The powers and responsibilities of all of these institutions are laid down in the Treaties, which are the foundation of everything the EU does. They also lay down the rules and procedures that the EU institutions must follow. The Treaties are agreed by the presidents and/or prime ministers of all the EU countries, and ratified by their parliaments.

2.10 ASEAN (Association of Southeast Asian Nations):

Short history:

The Association of Southeast Asian Nations, or ASEAN, was established on 8 August 1967 in Bangkok, Thailand, with the signing of the ASEAN Declaration (Bangkok Declaration) by the Founding Fathers of ASEAN, namely Indonesia, Malaysia, Philippines, Singapore and Thailand. Brunei Darussalam then joined on 7 January 1984, Viet Nam on 28 July 1995, Lao PDR and Myanmar on 23 July 1997, and Cambodia on 30 April 1999, making up what is today the ten Member States of ASEAN

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Objective:

As set out in the ASEAN objectives are to accelerate the economic growth, social progress and cultural development, to promote regional peace and stability, to promote active collaboration and mutual assistance, to provide assistance to each other in the form of training and research facilities to collaborate more effectively for the greater utilization of their agriculture and industries, to promote Southeast Asian studies, to maintain close and beneficial cooperation with existing international and regional organizations.

Number of members:

The members of ASEAN are 10 countries.

Current activities:

The current objective is to share the knowledge and views among ASEAN Member

States ... with the FPM in some years to exchange views and explore current problems

Structure:

The structure of ASEAN is given below:

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2.11 (BIMSTEC) Bengal Initiative for Multi-Sectoral Technical and Economic

Cooperation:

Short history:

On 6 June 1997, a new sub-regional grouping was formed in Bangkok and given the

name BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation).

Myanmar attended the inaugural June Meeting as an observer and joined the

organization as a full member at a Special Ministerial Meeting held in Bangkok on 22

December 1997, upon which the name of the grouping was changed to BIMST-EC.

Nepal was granted observer status by the second Ministerial Meeting in Dhaka in

December 1998. Subsequently, full membership has been granted to Nepal and Bhutan

in 2003.

Objective:

According to the Bangkok Declaration on the Establishment of BIST-EC, the aims and

purposes of BIST-EC/BIMST-EC are to create an enabling environment for rapid

economic development, accelerate social progress in the sub-region, promote active

collaboration and mutual assistance on matters of common interest, provide assistance

to each other in the form of training and research facilities, cooperate more effectively in

joint efforts that are supportive of, and complementary to national development plans of

member states. BIMSTEC was initiated with the goal to combine the 'Look West' policy

of Thailand and ASEAN with the 'Look East' policy of India and South Asia. So it could

be explained that BIMSTEC is a link between ASEAN and SARRC. 

Number of members:

Seven members (Bangladesh, India, Thailand, Sri Lanka, Myanmar, Nepal and Bhutan)

Current activities:

The 6 current activities are Trade and Investment (led by Bangladesh), Technology (led

by Sri Lanka), Transport and Communication (led by India), Energy (led by Myanmar),

Tourism (led by India), Agriculture and Fisheries (led by Thailand).

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Structure:

BIMSTEC uses the alphabetical order for the rotation of the Chairmanship. The

Chairmanship of BIMSTEC has been taken in rotation commencing with Bangladesh

(1997 - 1999), India (2000) Myanmar (2001-2002), Sri Lanka (2002 - 2003), Thailand

(2003 – 2005), Bangladesh (2005-2006). Bhutan asked for a skip and India took over the

Chairmanship in 2006. India held the Chairmanship of BIMSTEC from 2006 to 2009 until

Myanmar assumed the Chair and hosted the 12th and 13th Ministerial Meetings in

December 2009 and January 2011 respectively. Myanmar is the current Chair of the

BIMSTEC.

2.12 OPEC (Organization of the Petroleum Exporting Countries):

Short history:

OPEC is a permanent intergovernmental organization of 12 oil-exporting developing

nations that coordinates and unifies the petroleum policies of its Member Countries. The

Organization of the Petroleum Exporting Countries (OPEC) is a permanent,

intergovernmental Organization, created at the Baghdad Conference on September 10–

14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The five Founding

Members were later joined by nine other Members: Qatar (1961); Indonesia (1962) –

suspended its membership from January 2009; Libya (1962); United Arab Emirates

(1967); Algeria (1969); Nigeria (1971); Ecuador (1973) – suspended its membership

from December 1992-October 2007; Angola (2007) and Gabon (1975–1994). OPEC had

its headquarters in Geneva, Switzerland, in the first five years of its existence. This was

moved to Vienna, Austria, on September 1, 1965. OPEC's objective is to co-ordinate and

unify petroleum policies among Member Countries, in order to secure fair and stable

prices for petroleum producers; an efficient, economic and regular supply of petroleum to

consuming nations; and a fair return on capital to those investing in the industry.

Objective:

In accordance with its Statute, the mission of the Organization of the Petroleum

Exporting Countries (OPEC) is to coordinate and unify the petroleum policies of its

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Member Countries and ensure the stabilization of oil markets in order to secure an

efficient, economic and regular supply of petroleum to consumers, a steady income to

producers and a fair return on capital for those investing in the petroleum industry.

Number of members:

The member of OPEC is 12 countries.

Current activities:

To look at the current oil market outlook, in the light of the recent downturn in prices.

Structure:

It is responsible for the implementation of all resolutions passed by the Conference and

carries out all decisions made by the Board of Governors. It also conducts research, the

findings of which constitute key inputs in decision-making. The Secretariat consists of

the Secretary General, who is the Organization’s Chief Executive Officer, as well as

such staff as may be required for the Organization’s operations. It further consists of the

Office of the Secretary General, the Legal Office, the Research Division and the Support

Services Division. The Research Division comprises Data Services, Petroleum Studies

and Energy Studies departments. The Support Services Division includes Public

Relations & Information, Finance & Human Resources and Administration & IT Services

departments.

2.13 NAFTA (North American Free Trade Agreement):

Short history:

The North American Free Trade Agreement or NAFTA is an agreement signed by the

governments of Canada, Mexico, and the United States, creating a trilateral trade bloc in

North America. The agreement came into force on January 1, 1994. It superseded the

Canada – United States Free Trade Agreement between the U.S. and Canada. In terms

of combined GDP of its members, as of 2010 the trade bloc is the largest in the world.

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Objective:

Their general objective is to ensure an easy trilateral trade among the north American

countries USA, Canada and Mexico.

Number of members:

The member of 3 largest Develop countries (Canada, the United States, and Mexico)

Current activities:

Implementation of GHS - US / NAFTA Activity ... NAFTA Technical Working Group on

Pesticides has included GHS.

Structure:

A similar administrative body, the Binational Secretariat, existed under the Canada -

United States Free Trade Agreement to administer the dispute settlement provisions of

that Agreement. It consisted of two offices, known as national sections, one in Ottawa

and one in Washington, D.C.

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Part- 3

3.1 Finding Analysis:

→The WTO is currently endeavoring to persist with a trade negotiation called the Doha

Development Agenda (or Doha Round), which was launched in 2001 to enhance

equitable participation of poorer countries which represent a majority of the world's

population

→ World Bank assist in the development of the underdeveloped nations of the world. The most powerful countries in attendance were the United States and United Kingdom, which dominated negotiations.

→ The IMF is charged with overseeing the international monetary system to ensure

exchange rate stability

→ The UN Charter established six principal organs of the United Nations.

→ IDB is to foster the economic development and social progress of member countries

and Muslim communities individually.

→ The Asian Development Bank aims for an Asia and Pacific free from poverty. ADB - in

partnership with member governments, independent specialists and other financial

institutions - is focused on delivering projects that create economic and development

impact.

→SAARC objectives are to promote quality of life and economic growth in the members

regions. SAARC has engendered mutually beneficial cooperation in many diverse areas

and promoted greater understanding, goodwill and cooperation among the people and

Governments of South Asia

→SAFTA would gradually eliminate most tariffs and other trade barriers on products and

services passing between its member countries.

→ EU has delivered half a century of peace, stability, and prosperity, helped raise living

standards, launched a single European currency. The European Union is a unique

economic and political partnership between 27 European countries.

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→ As set out in the ASEAN objectives are to accelerate the economic growth, social

progress and cultural development, to promote regional peace and stability.

→ BIMSTEC was initiated with the goal to combine the 'Look West' policy of Thailand

and ASEAN with the 'Look East' policy of India and South Asia.

→ The mission of the Organization of the Petroleum Exporting Countries (OPEC) is to

coordinate and unify the petroleum policies of its Member Countries and ensure the

stabilization of oil markets.

→NAFTA is an free trade agreement among Canada, Mexico, and the United States.

-

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Part- 4

4.1 Conclusion:

In conclusion, it is to be noted that the World well known organization are mostly focus

on several development. Although those organizations structure is similar to each other

and their work also approximately similar . However United Nation is the most powerful

organization among them and then European Union also a powerful organization. At the

above these two organization work is to development of economy, currency etc and also

make solution of problem among the members of their countries. Again many

organization work may specific as like OPEC only concern with oil related works.

Although all organization are important for our current world.

4.2 Recommendation:

1. WTO should take more necessary step for poor countries.

2. World bank dominated negotiations of UK and USA should be removed.

3. IMF should increase their monitoring system of monetary policy.

4. UN has some countries whose only has right to veto and this right should distribute

equally among all members of United Nation.

5. IDB concern with all Islamic countries economy but it also should co-operation with

non-Islamic countries specially for trade.

6. ADB’s interest rate of loan should divide as low-lower-lowest on the basis of economic

existence of countries.

7. SAARC should try to solution countries area problem and should accept one currency

for all members.

8. SAFTA’s free trade system should more powerful and efficient.

9. EU may more improve their economic growth if they can united all of European

countries.

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10. ASEAN members countries GDP should increases for economic growth.

11. BIMSTEC need more members from South Asian countries to improve their

activities.

12. OPEC should concern more about oil prices.

13.NAFTA free trade is successful because members are seem to be same economy..

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Part- 5

5.1 Reference:

1. http://www.gatt.org/

2. http://en.wikipedia.org/wiki/World_Trade_Organization

3. http://trade.ec.europa.eu/doclib/press/index.cfm?id=767

4. http://en.wikipedia.org/wiki/World_bank#1944.E2.80.931968

5. http://www.companydebtmanagement.com/world-bank-its-objectives-and-functions/

6. http://en.wikipedia.org/wiki/Imf#History

7. http://www.imf.org/

8. http://www.imf.org/external/about/govstruct.htm

9. http://www.un.org/

10. http://www.nafta-sec-alena.org/en/view.aspx?x=202

11. http://www.isdb.org/

12. www. adb .org/

13. http://www.saarc-sec.org/

14. http://en.wikipedia.org/wiki/South_Asian_Free_Trade_Area

15. http://www.acci.org.af/trade-liberalization-agreements/safta.html

16. http://wiki.answers.com/Q/How_many_countries_are_members_of_the_EU_as_of_today

17. http://europa.eu/about-eu/institutions-bodies/index_en.htm

18. http://www.aseansec.org

19. www.bimstec.org/

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