ECONOMIC UNION Sample Clauses

ECONOMIC UNION. 1.1 An Economic Union to be called the Eastern Caribbean Economic Union is hereby established.
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ECONOMIC UNION. It is a Common Market extended through further harmonisation of fiscal/monetary policies and shared executive, judicial & legislative institutions. • Example: European Union (EU) Significance of FTAs In this section, the significance of FTAs is discussed. • FTAs encourage businesses in member countries to focus on producing and selling the goods that best use their resources while other businesses import goods that are scarce or unavailable domestically. • FTAs increase the production and consumption of internationally traded goods as selected goods are produced by every country at lower costs. • FTAs facilitate the mix of local production and foreign trade which in turn helps economies to boost growth. • FTAs help diversify supply chains by making it easier and cheaper for more businesses to do business across borders. • Reducing the trade barriers will help small and medium-sized enterprises in the export of their goods and services. • Also gives them access to new and emerging technologies. • From the consumer’s point of view, FTAs would help the consumers of both countries see improvements in the variety and affordability of products. • FTAs play an important role in strengthening the bond between the countries. • FTAs encourage Foreign Direct Investments (FDI) which helps in capital flow and employment creation. • FTAs help in eliminating monopolies. Concerns about FTA • The overall success of trade agreements depends on the extent of new trade created based on comparative advantage, which will boost both trade and economic growth. • However, if the FTA causes large diversions of the trade from more competitive nations to the FTA members, then the overall impact of the FTA will be negative. • Threat to Intellectual property rights, as the products of domestic producers, can be easily replicated by big corporations. • Loss of revenue which was levied in the form of import duties and tariffs. • The exploitation of domestic resources and labourers due to the expansion of foreign corporations. • It increases the dependence of trade in goods and services on other countries. • The free movement of foreign goods affects the domestic goods, leading to losses for the indigenous industries. Free Trade Agreements and India India currently has 12 FTAs and India-UAE CEPA is the latest one. • India opted out of the giant Regional Comprehensive Economic Partnership of the Asia-Pacific nations in 2020. • The earlier results of FTAs have been mixed and the Confederati...
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ECONOMIC UNION. Article 54 provides for the Establishment of an Economic Union and states as follows:-
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ECONOMIC UNION. It is a common market, where member countries coordinate on their macro-economic and exchange rate policies. An economic union is a trade bloc which are composed of common market with the customs union. The participant countries have both common policies on product regulation, freedom of movement of goods, services and the factors of production (Land, Labour, Capital and Enterprise) and common external trade policy. WTO – World Trade Organisations Evolution of WTO ⮚ WTO'S Head-Quarter is located in Geneva, Switzerland. ⮚ Currently, WTO has 164 members and India is a founding member of WTO. ⮚ Director-General of WTO is Xxxxxxx Xxxxxxx. ⮚ After the end of World War-II, various international organizations were formed to facilitate collaboration between countries in dealing with economic, social, and technical problems. ⮚ For the development of world economy and seamless trade among all the countries, a dire need was felt for an international organization for regulating international trade. ⮚ In 1945, a conference was known as the Bretton Xxxxx Conference (by two Xxxxxxx xxxx institutions- IMF and World Bank) was held for the creation of International Trade Organization (ITO) which finally could not be ratified due to lack of approval by the US and many other major countries. ⮚ As the US was emerging world power after World War-II, hence the creation of ITO without the US was meaningless. ⮚ Meanwhile, through negotiations, a multilateral agreement was concluded in 1947 known as the General Agreement on Tariffs and Trade (GATT). ⮚ Various conferences of GATT were held on periodic intervals for negations on trade. Finally, during the Uruguay round of conference held from 1986-1994, agreement on the creation of WTO was finally ratified through the Marrakesh Agreement. ⮚ India has been a member of GATT since 1948 and a founding member of WTO. China joined WTO only in 2001 and Russia in 2012. ⮚ Uruguay Round - The seeds of the Uruguay Round were sown in November 1982 at a ministerial meeting of GATT members in Geneva. Although the ministers intended to launch a major new negotiation, the conference stalled on agriculture and was widely regarded as a failure. In fact, the work programme that the ministers agreed to formed the basis for what was to become the Uruguay Round negotiating agenda. The challenges of Uruguay Rounds were discussed, and the outcome of these challenges was, WTO, which has gone through the 'Marrakesh Agreement' in 1994. It did already include c...
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Related to ECONOMIC UNION

  • MEMBERSHIP IN THE UNION It is the mutual desire of the Board and the Unit that all Teachers shall exercise their rights under this Collective Agreement, or the applicable Statutes of Ontario, in a professional and responsible manner without any fear of discrimination or recrimination.

  • Employer Union Relations 7.1 Representation at Meetings with the Employer No employee or group of employees shall undertake to represent the Union at meetings with the Employer without the proper authorization of the Union. To implement this, the Union shall supply the Employer with the names of its officers and, similarly, the Employer shall supply the Union with a list of its supervisory or other personnel with whom the Union may be required to transact business.

  • Preference for American Industry Notwithstanding any other provision of this clause, the Performer agrees that it shall not grant to any person the exclusive right to use or sell any subject invention in the United States unless such person agrees that any product embodying the subject invention or produced through the use of the subject invention shall be manufactured substantially in the United States. However, in individual cases, the requirements for such an agreement may be waived by DARPA upon a showing by the Performer that reasonable but unsuccessful efforts have been made to grant licenses on similar terms to potential licensees that would be likely to manufacture substantially in the United States or that, under the circumstances, domestic manufacture is not commercially feasible.

  • Central Bargaining Committee (a) In central bargaining between the Canadian Union of Public Employees and the participating hospitals, an employee serving on the Union's Central Negotiating Committee shall be paid for time lost from his normal straight time working hours at his regular rate of pay and without loss of leave credits for attending central negotiating meetings with the Hospitals' Central Negotiating Committee in direct negotiations up to the point of arbitration. In addition, an employee serving on the Union’s Central Negotiating Committee shall be paid for time lost from his normal straight time working hours at his regular rate of pay and without loss of leave credits for two (2) days of preparation time for such central negotiating meetings with the Hospital’s Central negotiating Committee. Upon reference to arbitration, the Negotiating Committee members shall receive unpaid time off for the purpose of attending arbitration hearings. It is understood and agreed that the maximum number of Union Central Negotiating Committee members entitled to payment under this provision shall be eight (8), and in no case will more than one employee from a hospital be entitled to such payment. The Union shall advise the Hospitals' Central Negotiating Committee, before negotiations commence, of those employees to be paid under this provision. The Hospitals' Central Negotiating Committee shall advise the eight (8) Hospitals accordingly.

  • Bargaining Unit Roster Upon the signing of this Agreement and monthly thereafter, the Employer shall supply to the Union via a secured method an alphabetical list of all employees covered by this Agreement. The list shall include the name, address, employee identification number, date of hire, rehire date (if applicable), shift, FTE, job classification, department cost center number, unit, hourly rate of pay and monthly gross earnings. Each month, the Employer will provide a list of new hires and addresses, and a list of all employees who have terminated during the month via a secured method. The new hire and termination lists shall include the same data as the monthly employee roster except for monthly gross earnings. The termination list shall include the termination date. Within ninety (90) days of ratification, Swedish Medical Center and SEIU 1199NW will convene a work group including HRIS expert to explore a method for the Employer to provide a list of all employment changes for bargaining unit employees, via a secure site.

  • Professional Development Fund A budget item equal to one-half (½) of one (1) percent of employees' salaries shall be set aside annually to be used to:

  • Member The Member owns 100% of the limited liability company interests in the Company.

  • Preference for United States Industry Notwithstanding any other provision of this clause, neither the Contractor nor any assignee shall grant to any person the exclusive right to use or sell any subject invention in the United States unless the person agrees that any products embodying the subject invention or produced through the use of the subject invention will be manufactured substantially in the United States. However, in individual cases, the requirement for an agreement may be waived by the agency upon a showing by the Contractor or its assignee that reasonable but unsuccessful efforts have been made to grant licenses on similar terms to potential licensees that would be likely to manufacture substantially in the United States, or that under the circumstances domestic manufacture is not commercially feasible.

  • European Union The academic use restriction in Section 12.d(i) below does not apply in the jurisdictions listed on this site: (xxx.xx/xxxxxxxxxxx).

  • Bargaining Unit Information The Employer agrees to provide the Union such information relating to Employees in the bargaining unit as may be required by the Union for the purpose of collective bargaining.

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