Economy

Economy

Pertaining to the system or range of economic activity in a country, region, or community.

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Economy > International trade

Government Procurement Agreement (GPA)

Economy; International trade

An agreement (ie, signed by only some WTO members) covering the procurement of goods, services and capital infrastructure by governments and other public authorities.

green box

Economy; International trade

Domestic support for agriculture that is allowed without limits because it does not distort trade, or at most causes minimal distortion.

Green Room

Economy; International trade

The informal name of the director-general's conference room. It is used to refer to meetings of 20-40 delegations, usually at the level of heads of delegations. These meetings can ...

Generalized System of Preferences (GSP)

Economy; International trade

Programs by developed countries granting preferential tariffs to imports from developing countries.

harmonized System

Economy; International trade

An international nomenclature developed by the World Customs Organization, which is arranged in six-digit codes allowing all participating countries to classify traded goods on a ...

harmonizing formula

Economy; International trade

Used in tariff negotiations for much steeper reductions in higher tariffs than in lower tariffs, the final rates being harmonized i.e. closer together.