Exchange Rates Explained

Exchange rates are the amount of one currency you can exchange for another. For example, the dollar’s exchange rate tells you how much a dollar is worth in a foreign currency.  Flexible Exchange Rates Most exchange rates are determined by the foreign exchange market, or forex. That’s called a flexible exchange rate. For Read More …

General Agreement on Tariffs and Trade

The General Agreement on Tariffs and Tradewas the first worldwide multilateral free trade agreement. It was in effect from June 30, 1948 until January 1, 1995. It ended when it was replaced by the more robust World Trade Organization.  The purpose of GATT was to eliminate harmful trade protectionism. That had sent global trade down Read More …

Marrakesh Agreement

The Marrakesh Agreement, manifested by the Marrakesh Declaration, was an agreement signed in Marrakesh, Morocco, by 124 nations on 15 April 1994, marking the culmination of the 8-year-long Uruguay Round and establishing the World Trade Organization, which officially came into being on 1 January 1995. The agreement developed out of the General Agreement on Tariffs and Trade (GATT), supplemented Read More …

Agreement on Trade-Related Investment Measures

The Agreement on Trade-Related Investment Measures (TRIMs) are rules that apply to the domestic regulations a country applies to foreign investors, often as part of an industrial policy. The agreement, concluded in 1994, was negotiated under the WTO’s predecessor, the General Agreement on Tariffs and Trade (GATT), and came into force in 1995. The agreement was Read More …

World Trade Organization

The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The goal is to ensure that trade flows Read More …

World Customs Organization

The World Customs Organization (WCO), established in 1952 as the Customs Co-operation Council (CCC) is an independent intergovernmental body whose mission is to enhance the effectiveness and efficiency of Customs administrations. Today, the WCO represents 182 Customs administrations across the globe that collectively process approximately 98% of world trade. As the global Read More …

Global Trade-Related Technical Assistance Database (GTAD)

Trade-related technical assistance (TRTA) and capacity-building (CB) are recognized as core elements of the multilateral trading system (MTS). Trade capacity-building, which provides direct support to beneficiary countries in enhancing their human and institutional capacities to deal with the challenges emerging from the MTS, is a key component of the Aid-for-Trade work Read More …

Standards and Trade Development Facility

The Standards and Trade Development Facility (STDF), is a joint initiative of the WTO, World Bank, FAO, World Health Organization and the World Organization for Animal Health. It aims to assist developing countries establish and implement SPS standards to ensure health protection and facilitate trade expansion. It also aims to Read More …

World Organisation for Animal Health

The need to fight animal diseases at global level led to the creation of the Office International des Epizooties through the international Agreement signed on January 25th 1924. In May 2003 the Office became the World Organisation for Animal Health but kept its historical acronym OIE. The OIE is the Read More …

iSTARS

The integrated Safety Trend Analysis and Reporting System (iSTARS) is a web-based system on the ICAO Secure Portal.  iSTARS provides a quick and convenient interface to a collection of safety and efficiency datasets and web applications to make safety, efficiency and risk analyses.