Poverty and Trade : Glossary

There are 60 documents in this section.

  • International Monetary Fund (IMF)

    23 May 2002

    The IMF was founded in 1944 at an inter-governmental conference held in Bretton Woods, New Hampshire, USA, in order to promote economic stability after the Second World War. It has 183 members (as at April 2002), and is managed by a Board of Governors which meets once each year at the Annual Meeting.

    It has three main functions: 'surveillance', or monitoring of its members' economic policies; financial assistance, through which credits and loans are extended to member countries; and technical assistance, in areas such as monetary policy, data collection, or training.

  • Intellectual property rights

    23 May 2002

    Private rights to the benefits of intellectual property, such as copyrights or patents. The TRIPS Agreement, signed in 1995, prescribes the minimum level of IP protection which WTO members must provide.

  • Lomé Convention

    23 May 2002

    A multilateral agreement signed in 1974 between the European Union and the ACP (African, Caribbean, and Pacific States), which governed aid and trade relations between these two groups. It was replaced by the Cotonou Agreement in 2000.

  • Millennium Development Goals

    23 May 2002

    At the UN Millennium Summit in 2000, 191 countries committed themselves to halving poverty by the year 2015 and meeting a range of other targets in areas such as health, education, and gender equity.

  • Multi-Fibre Arrangement

    23 May 2002

    This has regulated world trade in textiles and clothing since 1974. It is a system of quotas restricting the quantity of textiles and clothing entering the Canadian, US, EU, and Norwegian markets. Industrialised countries agreed to phase it out during the Uruguay Round of trade talks - the WTO Agreement on Textiles and Clothing provides for its removal in four stages between 1995 and 2005.

  • NAFTA

    23 May 2002

    The North American Free Trade Agreement took effect in 1994, and will eventually remove most barriers to cross-border trade and investment between the US, Canada, and Mexico.

  • Parallel importing

    23 May 2002

    A provision within the TRIPS Agreement allowing a government to import patented drugs from another country in cases where the price charged by the patent holder in the local market is higher than the price charged in another market.

  • Precautionary principle

    23 May 2002

    This term refers to Principle 15 of the Rio Declaration on Environment and Development agreed at the Earth Summit in Rio de Janeiro in 1992. It introduces as customary international law the principle that, where there are threats of serious or irreversible damage, lack of full scientific certainty shall not be used as a reason for postponing cost-effective measures to prevent environmental degradation.

  • Protectionism

    23 May 2002

    Trade policies, such as tariffs (taxes on imports) protecting domestic producers from competition in the international market.

  • Quad countries

    23 May 2002

    The name used at the WTO to describe the four major industrialised-country markets: the US, Canada, the European Union, and Japan.