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APEC (Asia-Pacific Economic Cooperation) Updated 29 Jan 2020
Initiated in January 1989 by Australia for more effective economic cooperation across the Asia-Pacific Region.
Members: Australia, Brunei Darussalam, Canada, Chile, People’s Republic of China, Hong Kong/China,
Indonesia, Japan, Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Phillipines,
Russia, Singapore, Chinese Taipei, Thailand, United States, and Viet Nam.
Click here for a Map of the region.
Cooperation focused on trade and economic issues – commitment to open trade, investment and economic
reform within the region for sustainable economic growth. Progressive reduction of tariffs and other trade
barriers.
Check Out: Leaders' Declarations issued at the end of yearly APEC Economic Leaders' Meetings.
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ACP (African, Caribbean and Pacific Group of States) Updated 29 Jan 2020
Created in 1975 with the signing of the Georgetown Agreement, establishing a partnership between the ACP
and the European Union.
Members: There are 79 member-states. Click here for a list of members.
A map is available on the official website of South Africa's International Relations and Cooperation.
Goals: To work together towards peace and stability, the eradication of poverty, sustainable development and
increase competitiveness for gradual integration into the world economy, and to act as a unified political entity
in international forums.
ACS (Association of Caribbean States) Updated 29 Jan 2020
Established in July 1994 in Colombia with the aim of promoting consultation, cooperation and concerted action
among all countries of the Caribbean region. As a Zone of Cooperation, it focuses on trade, transport,
sustainable tourism and natural disasters within the region.
Members: Antigua & Barbuda, The Bahamas, Barbados, Belize, Colombia, Costa Rica, Cuba, Dominica,
Dominican Republic, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico,
Nicaragua, Panama, St. Kitts Nevis, St. Lucia, St. Vincent & the Grenadines, Suriname, Trinidad & Tobago,
and Venezuela. Associate members include French Guiana, Guadeloupe, Martinique, and the Netherland
Antilles.
IBSA – India-Brazil-South Africa Trilateral Updated 29 Jan 2020
Initiated in June 2003 with the first Foreign Affairs Ministers meeting in Brasilia, Brazil.
Followed three months later by the meeting of the Heads of State in New York, USA.
Goals: Among others, to develop South-South cooperation and work together at multilateral forums, such as
the United Nations (UN) and World Trade Organization (WTO), for the promotion of an alternative perspective
of world affairs.
| REGIONAL TRADE BLOCKS, TARIFFS AND TRADE BARRIERS |
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FOLLOW BLOG - THREE WORLDS ONE VISION : Rosaliene shares her experiences of living and
working in Guyana, Brazil and the USA.
TTIP (Transatlantic Trade and Investment Partnership) Updated 29 Jan 2020
On 13 February 2013, the presidents of the United States, European Council, and European Commission
announced the launch of negotiations on a TTIP.
Goals: The TIPP aims to expand existing trade between the regions; advance trade and investment
liberalization; address regulatory and other non-tariff barriers.
Size of proposed trade zone: Together, the EU and the US account for 47% of the world’s gross domestic
product (GDP) and 30% of global trade flows. Together they would create the biggest free trade zone in the
world, with around USD2.7bn of goods and services being traded daily. Aggregate investment between the two
economies is in excess of USD3.7 trillion (Tax-News, 15 February 2013).
For more information on the TTIP:
Note: An EU Council decision dated 9 April 2019 states that the negotiating directives for the TTIP are obsolete
and no longer relevant.
On 13 February 2013, the presidents of the United States, European Council, and European Commission
announced the launch of negotiations on a TTIP.
Goals: The TIPP aims to expand existing trade between the regions; advance trade and investment
liberalization; address regulatory and other non-tariff barriers.
Size of proposed trade zone: Together, the EU and the US account for 47% of the world’s gross domestic
product (GDP) and 30% of global trade flows. Together they would create the biggest free trade zone in the
world, with around USD2.7bn of goods and services being traded daily. Aggregate investment between the two
economies is in excess of USD3.7 trillion (Tax-News, 15 February 2013).
For more information on the TTIP:
Note: An EU Council decision dated 9 April 2019 states that the negotiating directives for the TTIP are obsolete
and no longer relevant.
BRICS – Brazil-Russia-India-China-South Africa Updated 30 Jan 2020
Since Goldman Sachs first formulated the acronym “BRIC” in 2001 to highlight the growing economies of Brazil,
Russia, India, and China, the four countries initiated economic dialogue in 2006. With the inclusion of South
Africa in 2011, the emerging political-economical-diplomatic entity has become known as BRICS.
BRICS account for 43% of the world’s population, 26% of the world’s land mass, 30% of the world’s GDP, and
17% of world trade (BRICS India 2016).
The 11th BRICS Summit was held in Brasilia, Brazil, on November 13-14, 2019.
Check Out: Brasilia Declaration (Portuguese Version)
Learn More: BRICS New Development Bank
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CPTPP (Comprehensive and Progressive Trans-Pacific Partnership) Updated 29 Jan 2020
On 8 March 2018, representatives of 11 countries met in Santiago, Chile, to sign the Comprehensive and
Progressive Trans-Pacific Partnership (CPTPP), creating a massive free trade bloc connecting 500 million
people and economies with a combined GDP of over $10 trillion.
Members: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and
Vietnam.
On 23 January 2017, President Trump signed an Executive Order to formally withdraw from the partnership,
previously known as the TPP.
The CPTPP incorporates most of the Trans-Pacific Partnership (TPP) provisions but suspended 22
provisions the United States favored that other countries opposed and lowered the threshold for enactment so
the participation of the U.S. is not required, following the withdrawal of the U.S. in January 2017.
The CPTPP will enter into force 60 days after at least six (or 50%) of the signatories have notified the
Depositary (New Zealand) of the completion of ratification procedures. For subsequent parties that ratify the
agreement, the CPTPP will enter into force for that party 60 days after the date of its ratification.
Full Text of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP),
Released 21 February 2018.
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