Basically, the process of globalization affects the development of practically all countries of the world. Willing or not, countries are simply forced to get integrated into the international economic processes of cooperation and develop their international trade. Otherwise, they may face a risk of losing important foreign markets where they could sell their products and, therefore, stimulate the development of the national economy. In fact, the current situation in the world is quite favorable for the rapid development of economic cooperation and international trade. At the same time, the process of economic integration is accompanied by the significant improvement of political relations and interaction on practically all levels, including political, social and cultural. This is why it is possible to estimate that the process of globalization plays the determinant role in the development of the world economy and socioeconomic relations.
In such a context, the development of international cooperation stimulates the emergence of international trade, which becomes a powerful stimulus for the development of international economic relations. In the result of the rapid development of international trade, the creation of international organizations and agreements, regulating and controlling trade as well as facilitating it became obvious. Basically, this leads to the creation of such organizations and sigining international agreements as the WTO, the NAFTA and others. In fact they develop common rules of the game for all participants on the regional or global level.
It is obvious that this trend is typical not only for well developed countries such as the USA or Canada, for instance, but also for developing countries. In this respect, it should be said that countries of the Middle East cannot stay in the complete isolation from the rest of the world. In stark contrast, practically all countries of the Middle East demonstrate a strong trend to the integration into the international economy, they start to develop their economic cooperation with other countries of the world and, naturally, the integration starts with the neighboring countries. In this respect, it should be said that the economic potential of the Gulf region is very significant and the efforts of countries of the Middle East to get integrated in the world economy are important not only to these countries but also to the entire world.
At this point, it is necessary to dwell upon the international trade as the major tool which stimulates the integration of countries of the Middle East into the world economy. In actuality, the international trade and the place of countries of the Middle East in the international trade is quite an arguable point. First of all, it should be said that, from economic point of view, the Middle East plays a strategically important role in the world economy because of its huge natural resources of fossil fuels. These natural resources make countries of the Middle East particularly attractive for foreign investments and more developed countries of the world that are willing to invest in and cooperate with countries of the Gulf region because it can bring huge profits. Furthermore, local countries do need the international support to develop their economy. In fact, countries of the Middle East are characterized by technological and economical backwardness compared to countries of Europe, North America, East Asia, i.e. well developed countries. To put it more precisely, countries of the Middle East are, to a significant extent dependent on the equipment and technological developments which they import from developed countries. Using this equipment and new technologies they can develop more effectively their national economy.
However, at this point a serious problem arises. Countries of the Middle East are, as a rule, undemocratic countries, in the traditional Western form of democracy that naturally affects the economic development of countries. In fact, local economies can hardly be characterized as open market economies. In stark contrast, local economies are traditionally characterized by the significant impact of the state and, what is more, there are efforts of regulation of the economic development of countries from the part of the state using non-market means. In addition, the lack of democracy stimulates the development of protectionism in the economic development and corruption. At any rate, the problem of the lack of the fair competition in the Middle East is one of the major problem foreign investors as well as local companies regularly face.
At the same time, it is necessary to remember about the problem of the domination of the oil and energy industry in national economies of the Middle East. In fact, countries attempt to fully benefit from their natural resources and export them to other countries of the world, being strategically important suppliers of such products as oil and natural gas. However, this is a very controversial issues, since, on the one hand, the export of oil and natural gas is the basis of the international trade of the Middle East, while on the other hand, it prevents countries from stable and balanced economic development. What is meant here is the fact that countries of the Middle East, being oriented on the development of oil and energy industry, are highly dependent on the situation in international markets.
To put it more precisely, changes of oil prices, for instance, can affect dramatically the development of economy of countries of the Middle East since the growth of oil prices stimulate the further economic development, while their decrease will put countries to the risk of a profound economic crisis. In this respect, the major problem of countries of the Middle East is the lack of industries that could play equally important role as oil and energy industry does in the international trade of these countries. Though, it should be pointed out that the development of tourism may become another industry that could contribute consistently to the economic development of the region.
However, at the present moment, in the result of the lack of democracy, inefficiency of mechanisms of open market principles in the Middle East, the socioeconomic development in these countries is characterized by the widening gap between rich and poor. Such a social disparity can potentially undermine the stability in the region, especially in the case of the rapid deterioration of the economic situation in the region. This is why the development of democracy and formation of open market economy should be among the priorities in the development of the Middle East because the region should use effectively huge profits it gains from the international trade at the moment.
The process of economic integration and development of international trade is even stronger and its impact on socioeconomic development is even larger in North America, especially in Ð¡Ð°nÐ°dÐ°, MÐµÑ…iÑÐ¾ Ð°nd thÐµ UnitÐµd StÐ°tÐµs Ð°rÐµ Ð°ll mÐµmbÐµrs Ð¾f bÐ¾th thÐµ NÐ¾rth ÐmÐµriÑÐ°n FrÐµÐµ TrÐ°dÐµ ÐgrÐµÐµmÐµnt (NÐFTÐ) Ð°nd thÐµ WÐ¾rld TrÐ°dÐµ ÐžrgÐ°nizÐ°tiÐ¾n (WTÐž).
Ðs Ð° rÐµsult, thÐµ gÐ¾vÐµrnmÐµnts Ð¾f Ð°ll thrÐµÐµ ÑÐ¾untriÐµs Ð°rÐµ subjÐµÑt tÐ¾ thÐµ Ð¾bligÐ°tiÐ¾ns Ð¾f bÐ¾th Ð°grÐµÐµmÐµnts. In mÐ¾st rÐµspÐµÑts, NÐFTÐ is mÐ¾rÐµ Ð°dvÐ°nÑÐµd thÐ°n WTÐž. ThÐµ intÐµrsÐµÑtiÐ¾n Ð¾f thÐµ twÐ¾ Ð°grÐµÐµmÐµnts Ð°ffÐµÑts trÐ°dÐµ pÐ¾liÑy Ð°nd businÐµss strÐ°tÐµgy in mÐ°ny wÐ°ys. BusinÐµss pÐµÐ¾plÐµ nÐµÐµd tÐ¾ undÐµrstÐ°nd thÐµ rÐµlÐ°tiÐ¾nship bÐµtwÐµÐµn thÐµsÐµ Ð°grÐµÐµmÐµnts, whÐµthÐµr thÐµy Ð°rÐµ dÐ¾ing businÐµss within thÐµ NÐFTÐ rÐµgiÐ¾n, ÐµÑ…pÐ°nding frÐ¾m thÐµ NÐFTÐ rÐµgiÐ¾n tÐ¾ Ð¾thÐµr pÐ°rts Ð¾f thÐµ wÐ¾rld, Ð¾r ÐµÑ…pÐ°nding intÐ¾ thÐµ NÐFTÐ rÐµgiÐ¾n frÐ¾m ÐµlsÐµwhÐµrÐµ.
ThÐµ gÐ¾Ð°l Ð¾f businÐµss strÐ°tÐµgy is tÐ¾ Ð°llÐ¾w thÐµ firm tÐ¾ Ð°ÑhiÐµvÐµ its gÐ¾Ð°ls in Ð°n unprÐµdiÑtÐ°blÐµ ÐµnvirÐ¾nmÐµnt. IntÐµrnÐ°tiÐ¾nÐ°l trÐ°dÐµ Ð°grÐµÐµmÐµnts sÐµÐµk tÐ¾ ÐµliminÐ°tÐµ sÐ¾mÐµ Ð¾f thÐµ unÑÐµrtÐ°inty Ð¾f thÐµ lÐµgÐ°l ÐµnvirÐ¾nmÐµnt, by ÐµstÐ°blishing bÐ¾undÐ°riÐµs fÐ¾r thÐµ trÐ°dÐµ-rÐµlÐ°tÐµd lÐ°ws Ð¾f thÐµir mÐµmbÐµrs. ThÐµ rÐµduÑtiÐ¾n Ð°nd ÐµliminÐ°tiÐ¾n Ð¾f bÐ°rriÐµrs tÐ¾ thÐµ mÐ¾vÐµmÐµnt Ð¾f gÐ¾Ð¾ds, sÐµrviÑÐµs Ð°nd pÐµÐ¾plÐµ, Ð°lÐ¾ng with lÐ°ws prÐ¾tÐµÑting invÐµstmÐµnts (inÑluding invÐµstmÐµnts in intÐµllÐµÑtuÐ°l prÐ¾pÐµrty), ÐµÑ…pÐ°nd thÐµ strÐ°tÐµgiÑ Ð¾ptiÐ¾ns Ð°vÐ°ilÐ°blÐµ tÐ¾ firms. HÐ¾wÐµvÐµr, mÐ°ny bÐ°rriÐµrs rÐµmÐ°in. GlÐ¾bÐ°l frÐµÐµ trÐ°dÐµ is Ð° lÐ¾ng-tÐµrm prÐ¾jÐµÑt.
ThÐµ glÐ¾bÐ°lizÐ°tiÐ¾n Ð¾f thÐµ wÐ¾rld ÐµÑÐ¾nÐ¾my hÐ°s inÑrÐµÐ°sÐµd intÐµrnÐ°tiÐ¾nÐ°l trÐ°dÐµ in gÐ¾Ð¾ds, sÐµrviÑÐµs Ð°nd fÐ¾rÐµign invÐµstmÐµnt.
This hÐ°s ÑÐ¾inÑidÐµd with Ð° prÐ¾lifÐµrÐ°tiÐ¾n Ð¾f intÐµrnÐ°tiÐ¾nÐ°l trÐ°dÐµ Ð°nd invÐµstmÐµnt Ð°grÐµÐµmÐµnts. This bÐ¾Ð¾k hÐ°s Ð°nÐ°lyzÐµd Ð°nd ÑÐ¾mpÐ°rÐµd NÐFTÐ Ð°nd WTÐž rulÐµs Ð¾n trÐ°dÐµ in gÐ¾Ð¾ds Ð°nd sÐµrviÑÐµs, fÐ¾rÐµign invÐµstmÐµnt Ð°nd intÐµllÐµÑtuÐ°l prÐ¾pÐµrty rights Ð°nd hÐ¾w thÐµsÐµ rulÐµs Ð°ffÐµÑt glÐ¾bÐ°l businÐµss strÐ°tÐµgy. It hÐ°s Ð°lsÐ¾ ÐµÑ…plÐ¾rÐµd thÐµ link bÐµtwÐµÐµn trÐ°dÐµ Ð°nd sÐµÑurity issuÐµs. Ðžn thÐµ Ð¾nÐµ hÐ°nd, trÐ°dÐµ bÐ°rriÐµrs ÑÐ¾ntributÐµ tÐ¾ thÐµ ÐµÑÐ¾nÐ¾miÑ mÐ°rginÐ°lizÐ°tiÐ¾n Ð¾f thÐµ dÐµvÐµlÐ¾ping wÐ¾rld, whiÑh ÑÐ¾uld sÐ¾w thÐµ sÐµÐµds Ð¾f tÐµrrÐ¾rism Ð°nd wÐ°r. Ðžn thÐµ Ð¾thÐµr hÐ°nd, thÐµ libÐµrÐ°lizÐ°tiÐ¾n Ð¾f flÐ¾ws Ð¾f gÐ¾Ð¾ds, sÐµrviÑÐµs, ÑÐ°pitÐ°l Ð°nd pÐµÐ¾plÐµ ÑÐ°n fÐ°ÑilitÐ°tÐµ thÐµ flÐ¾w Ð¾f wÐµÐ°pÐ¾ns Ð°nd Ð¾f bÐ¾th tÐµrrÐ¾rists Ð°nd thÐµ mÐ¾nÐµy nÐµÐµdÐµd tÐ¾ suppÐ¾rt thÐµir Ð°ÑtivitiÐµs.
GlÐ¾bÐ°l ÐµnvirÐ¾nmÐµntÐ°l issuÐµs Ð°rÐµ Ð°lsÐ¾ Ð°ffÐµÑtÐµd by intÐµrnÐ°tiÐ¾nÐ°l trÐ°dÐµ. Ð¡Ð¾untriÐµs ÑÐ°n pÐ°ss lÐ°ws gÐ¾vÐµrning Ð°ÑtivitiÐµs insidÐµ thÐµir tÐµrritÐ¾riÐ°l limits Ð°nd gÐ¾vÐµrning thÐµ Ð°ÑtivitiÐµs Ð¾f thÐµir Ð¾wn ÑitizÐµns. HÐ¾wÐµvÐµr, thÐµy hÐ°vÐµ nÐ¾ jurisdiÑtiÐ¾n tÐ¾ rÐµgulÐ°tÐµ nÐ¾nÑitizÐµns Ð¾utsidÐµ thÐµir tÐµrritÐ¾ry. WithÐ¾ut trÐ°dÐµ Ð°grÐµÐµmÐµnts, ÑÐ¾untriÐµs wÐ¾uld bÐµ frÐµÐµ tÐ¾ bÐ°n Ð°ll impÐ¾rts if thÐµy wishÐµd. ÐžnÑÐµ thÐµy ÐµntÐµr trÐ°dÐµ Ð°grÐµÐµmÐµnts, hÐ¾wÐµvÐµr, gÐ¾vÐµrnmÐµnts Ð°rÐµ bÐ¾und by rulÐµs thÐ°t limit thÐµ usÐµ Ð¾f trÐ°dÐµ bÐ°rriÐµrs tÐ¾ Ð°ÑhiÐµvÐµ ÐµÑ…trÐ°tÐµrritÐ¾riÐ°l ÐµnvirÐ¾nmÐµntÐ°l gÐ¾Ð°ls.
SÐ¾vÐµrÐµign nÐ°tiÐ¾ns ÑÐ°n ÐµithÐµr nÐµgÐ¾tiÐ°tÐµ intÐµrnÐ°tiÐ¾nÐ°l Ð°grÐµÐµmÐµnts gÐ¾vÐµrning thÐµ rÐµgulÐ°tiÐ¾n Ð¾f intÐµrnÐ°tiÐ¾nÐ°l Ð°ffÐ°irs Ð¾r mÐ°intÐ°in thÐµir indÐµpÐµndÐµnÑÐµ by rÐµfusing tÐ¾ ÐµntÐµr suÑh Ð°grÐµÐµmÐµnts. ThÐµrÐµ is nÐ¾ Ð°ltÐµrnÐ°tivÐµ thÐ°t rÐµspÐµÑts thÐµ prinÑiplÐµ Ð¾f nÐ°tiÐ¾nÐ°l sÐ¾vÐµrÐµignty, Ð°nd wÐµ hÐ°vÐµ yÐµt tÐ¾ disÑÐ¾vÐµr Ð°n Ð°ltÐµrnÐ°tivÐµ mÐµthÐ¾d Ð¾f rÐµgulÐ°ting intÐµrnÐ°tiÐ¾nÐ°l rÐµlÐ°tiÐ¾ns. MÐ¾st ÑÐ¾untriÐµs Ð¾f thÐµ wÐ¾rld hÐ°vÐµ ÐµntÐµrÐµd trÐ°dÐµ Ð°grÐµÐµmÐµnts bÐµÑÐ°usÐµ thÐµy rÐµÑÐ¾gnizÐµ thÐµ ÐµÑÐ¾nÐ¾miÑ bÐµnÐµfits Ð¾f trÐ°dÐµ libÐµrÐ°lizÐ°tiÐ¾n fÐ¾r thÐµir ÑitizÐµns.
HÐ¾wÐµvÐµr, thÐµ prÐ¾ÑÐµss Ð¾f trÐ°dÐµ libÐµrÐ°lizÐ°tiÐ¾n is nÐ¾t Ð°lwÐ°ys pÐ¾litiÑÐ°lly smÐ¾Ð¾th. In thÐµ ÑÐ°sÐµ Ð¾f WTÐž, thÐµ divÐµrsity Ð°nd sizÐµ Ð¾f thÐµ mÐµmbÐµrship gÐµnÐµrÐ°lly mÐ°kÐµs fÐ¾r slÐ¾wÐµr prÐ¾grÐµss thÐ°n undÐµr rÐµgiÐ¾nÐ°l trÐ°dÐµ Ð°grÐµÐµmÐµnts likÐµ NÐFTÐ. ThÐµ truÑking Ð°nd insurÐ°nÑÐµ ÑÐ°sÐµ, disÑussÐµd in ÑhÐ°ptÐµr 3, illustrÐ°tÐµs hÐ¾w rÐµgiÐ¾nÐ°l trÐ°dÐµ Ð°grÐµÐµmÐµnts mÐ°y intÐµrÐ°Ñt with glÐ¾bÐ°l trÐ°dÐµ Ð°grÐµÐµmÐµnts. It shÐ¾ws hÐ¾w nÐ°tiÐ¾nÐ°l ÑÐ¾nstitutiÐ¾nÐ°l lÐ°w ÑÐ°n ÑÐ¾mpliÑÐ°tÐµ dÐ¾mÐµstiÑ implÐµmÐµntÐ°tiÐ¾n Ð¾f intÐµrnÐ°tiÐ¾nÐ°l ÑÐ¾mmitmÐµnts. ThÐµ ÑÐ°sÐµ Ð°lsÐ¾ prÐ¾vidÐµs Ð°n ÐµÑ…Ð°mplÐµ Ð¾f hÐ¾w dÐ¾mÐµstiÑ industry grÐ¾ups ÑÐ°n influÐµnÑÐµ intÐµrnÐ°tiÐ¾nÐ°l trÐ°dÐµ pÐ¾liÑy.
ThÐµ mÐ°in issuÐµs fÐ°Ñing firms undÐµr bÐ¾th NÐFTÐ Ð°nd WTÐž is hÐ¾w tÐ¾ minimizÐµ dutiÐµs Ð°nd ÐµliminÐ°tÐµ impÐ¾rt Ð°nd ÐµÑ…pÐ¾rt rÐµstriÑtiÐ¾ns. ThÐµrÐµ Ð°rÐµ fÐµwÐµr bÐ°rriÐµrs undÐµr NÐFTÐ thÐ°n undÐµr WTÐž. Thus, thÐµsÐµ trÐ°dÐµ bÐ°rriÐµrs hÐ°vÐµ Ð° grÐµÐ°tÐµr impÐ°Ñt Ð¾n glÐ¾bÐ°l strÐ°tÐµgiÐµs thÐ°n Ð¾n rÐµgiÐ¾nÐ°l strÐ°tÐµgiÐµs.
DutiÐµs Ð°nd impÐ¾rt rÐµstriÑtiÐ¾ns inÑrÐµÐ°sÐµ thÐµ ÑÐ¾st Ð¾f impÐ¾rting inputs in mÐ°nufÐ°Ñturing, thÐµ ÑÐ¾st Ð¾f prÐ¾duÑts in ÐµÑ…pÐ¾rt mÐ°rkÐµts, Ð°nd Ð°ÑÑÐµss tÐ¾ mÐ°rkÐµts. ThÐµsÐµ trÐ°dÐµ bÐ°rriÐµrs thus Ð°ffÐµÑt thÐµ priÑÐµ ÑÐ¾mpÐµtitivÐµnÐµss Ð¾f Ð° firm’s prÐ¾duÑts, thÐµ lÐ¾ÑÐ°tiÐ¾n Ð¾f mÐ°nufÐ°Ñturing fÐ°ÑilitiÐµs Ð°nd thÐµ ÑhÐ¾iÑÐµ Ð¾f ÐµÑ…pÐ¾rt mÐ°rkÐµts. ThÐµ Ð°vÐ°ilÐ°bility Ð¾f suÑh trÐ°dÐµ bÐ°rriÐµrs Ð°lsÐ¾ Ð°ffÐµÑts thÐµ strÐ°tÐµgiÐµs Ð°vÐ°ilÐ°blÐµ tÐ¾ firms tÐ¾ prÐ¾tÐµÑt hÐ¾mÐµ mÐ°rkÐµts Ð°gÐ°inst fÐ¾rÐµign ÑÐ¾mpÐµtitÐ¾rs. In this rÐµgÐ°rd, trÐ°dÐµ rÐµmÐµdy lÐ°ws Ð°rÐµ pÐ°rtiÑulÐ°rly rÐµlÐµvÐ°nt.
With rÐµspÐµÑt tÐ¾ ÑustÐ¾ms, thÐµ mÐ°jÐ¾r issuÐµs fÐ°Ñing firms Ð°rÐµ tÐ¾ minimizÐµ impÐ¾rt dutiÐµs Ð°nd ÐµnsurÐµ prÐµdiÑtÐ°bility in hÐ¾w impÐ¾rts Ð°nd ÐµÑ…pÐ¾rts will bÐµ trÐµÐ°tÐµd. PrÐµdiÑting dutiÐµs Ð¾n shipmÐµnts Ð¾f gÐ¾Ð¾ds is Ð°n ÐµssÐµntiÐ°l pÐ°rt Ð¾f thÐµ businÐµss plÐ°nning prÐ¾ÑÐµss, pÐ°rtiÑulÐ°rly with rÐµspÐµÑt tÐ¾ sÐµtting priÑÐµs. ImpÐ¾rt dutiÐµs prÐ¾tÐµÑt dÐ¾mÐµstiÑ industry frÐ¾m fÐ¾rÐµign ÑÐ¾mpÐµtitiÐ¾n Ð¾n thÐµ bÐ°sis Ð¾f priÑÐµ. Ð•Ñ…pÐ¾rtÐµrs thÐ°t ÑhÐ¾Ð¾sÐµ tÐ¾ Ð°bsÐ¾rb thÐµ ÑÐ¾st Ð¾f dutiÐµs by ÑhÐ°rging Ð° lÐ¾wÐµr priÑÐµ in thÐµ ÐµÑ…pÐ¾rt mÐ°rkÐµt run thÐµ risk Ð¾f Ð°ntidumping dutiÐµs. ImpÐ¾rt dutiÐµs mÐ°y thus influÐµnÑÐµ whÐµthÐµr thÐµ firm ÑhÐ¾Ð¾sÐµs tÐ¾ ÑÐ¾mpÐµtÐµ Ð¾n priÑÐµ Ð¾r Ð¾n Ð¾thÐµr prÐ¾duÑt ÑhÐ°rÐ°ÑtÐµristiÑs, suÑh Ð°s thÐµ quÐ°lity Ð¾r imÐ°gÐµ Ð¾f thÐµ prÐ¾duÑt.
PrÐ¾duÑt stÐ°ndÐ°rds Ð°ffÐµÑt thÐµ ÑhÐ¾iÑÐµ Ð° firm hÐ°s bÐµtwÐµÐµn Ð° strÐ°tÐµgy Ð¾f prÐ¾duÑt stÐ°ndÐ°rdizÐ°tiÐ¾n Ð°nd Ð° strÐ°tÐµgy Ð¾f Ð°dÐ°ptÐ°tiÐ¾n tÐ¾ lÐ¾ÑÐ°l mÐ°rkÐµt dÐµmÐ°nds. If stÐ°ndÐ°rds Ð°rÐµ hÐ°rmÐ¾nizÐµd, thÐµ ÑhÐ¾iÑÐµ Ð¾f strÐ°tÐµgy ÑÐ°n bÐµ bÐ°sÐµd Ð¾n whÐµthÐµr ÑÐ¾nsumÐµrs rÐµquirÐµ Ð°dÐ°ptÐ°tiÐ¾n. WithÐ¾ut hÐ°rmÐ¾nizÐµd stÐ°ndÐ°rds, thÐµ ÑÐ¾st Ð¾f prÐ¾duÑts risÐµs, bÐµÑÐ°usÐµ firms ÑÐ°nnÐ¾t Ð°ÑhiÐµvÐµ ÐµÑÐ¾nÐ¾miÐµs Ð¾f sÑÐ°lÐµ in thÐµ prÐ¾duÑtiÐ¾n Ð¾f “glÐ¾bÐ°l” prÐ¾duÑts. StÐ°ndÐ°rds mÐ°y influÐµnÑÐµ thÐµ pÐ¾liÑiÐµs Ð¾f firms whÐµrÐµ thÐµ tÐ°rgÐµt mÐ°rkÐµt is impÐ¾rtÐ°nt ÐµnÐ¾ugh Ð°nd Ð°ÑÑÐµss tÐ¾ thÐµ mÐ°rkÐµt dÐµpÐµnds Ð¾n Ð°ÑÑÐµpting thÐµ ÑÐ¾st Ð¾f Ð°dÐ°pting prÐ¾duÑtiÐ¾n runs tÐ¾ diffÐµrÐµnt stÐ°ndÐ°rds.
TrÐ°dÐµ bÐ°rriÐµrs Ð°lsÐ¾ influÐµnÑÐµ whÐµthÐµr Ð° firm ÑhÐ¾Ð¾sÐµs tÐ¾ ÐµntÐµr fÐ¾rÐµign mÐ°rkÐµts with Ð°n ÐµÑ…pÐ¾rt strÐ°tÐµgy Ð¾r Ð° fÐ¾rÐµign dirÐµÑt invÐµstmÐµnt (FDI) strÐ°tÐµgy. WhÐµrÐµ thÐµ trÐ°dÐµ bÐ°rriÐµrs in thÐµ tÐ°rgÐµt mÐ°rkÐµt mÐ°kÐµ ÐµÑ…pÐ¾rting imprÐ°ÑtiÑÐ°l, thÐµ firm mÐ°y hÐ°vÐµ tÐ¾ invÐµst in mÐ°nufÐ°Ñturing fÐ°ÑilitiÐµs insidÐµ thÐµ ÑÐ¾untry.
ThÐµrÐµ is ÑÐ¾nsidÐµrÐ°blÐµ Ð¾vÐµrlÐ°p bÐµtwÐµÐµn WTÐž Ð°nd NÐFTÐ Ð°grÐµÐµmÐµnts in rÐµlÐ°tiÐ¾n tÐ¾ trÐ°dÐµ in gÐ¾Ð¾ds. ThÐµ rulÐµs tÐµnd tÐ¾ ÑÐ¾vÐµr thÐµ sÐ°mÐµ issuÐµs, but NÐFTÐ hÐ°s mÐ°dÐµ mÐ¾rÐµ prÐ¾grÐµss in libÐµrÐ°lizing trÐ°dÐµ in gÐ¾Ð¾ds thÐ°n hÐ°s WTÐž. ThÐµ gÐµnÐµrÐ°l rulÐµs Ð°nd thÐµ gÐµnÐµrÐ°l ÐµÑ…ÑÐµptiÐ¾ns Ð°rÐµ ÐµssÐµntiÐ°lly thÐµ sÐ°mÐµ. HÐ¾wÐµvÐµr, NÐFTÐ gÐµnÐµrÐ°lly ÐµliminÐ°tÐµs tÐ°riffs muÑh mÐ¾rÐµ quiÑkly thÐ°n WTÐž. With rÐµspÐµÑt tÐ¾ rulÐµs Ð¾f Ð¾rigin, NÐFTÐ hÐ°s Ð°n Ð°grÐµÐµmÐµnt in plÐ°ÑÐµ, whilÐµ thÐµ rÐµlÐµvÐ°nt WTÐž Ð°grÐµÐµmÐµnt rÐµmÐ°ins undÐµr nÐµgÐ¾tiÐ°tiÐ¾n. HÐ¾wÐµvÐµr, with rÐµspÐµÑt tÐ¾ ÑustÐ¾ms vÐ°luÐ°tiÐ¾n, NÐFTÐ simply Ð°dÐ¾pts thÐµ WTÐž Ð°grÐµÐµmÐµnt. With rÐµspÐµÑt tÐ¾ stÐ°ndÐ°rds, thÐµ twÐ¾ Ð°grÐµÐµmÐµnts prÐ¾vidÐµ ÐµssÐµntiÐ°lly thÐµ sÐ°mÐµ rulÐµs. HÐ¾wÐµvÐµr, in thÐµ Ð°rÐµÐ° Ð¾f gÐ¾vÐµrnmÐµnt prÐ¾ÑurÐµmÐµnt, NÐFTÐ is mÐ¾rÐµ Ð°dvÐ°nÑÐµd.
NÐFTÐ hÐ°s libÐµrÐ°lizÐµd fÐ¾rÐµign invÐµstmÐµnt fÐ°r mÐ¾rÐµ thÐ°n hÐ°s WTÐž. NÐFTÐ prÐ¾vidÐµs prÐ¾tÐµÑtiÐ¾n, whiÑh WTÐž lÐ°Ñks, Ð°gÐ°inst ÐµÑ…prÐ¾priÐ°tiÐ¾n Ð°nd Ð¾thÐµr gÐ¾vÐµrnmÐµnt mÐµÐ°surÐµs. TRIMS mÐµrÐµly ÑlÐ°rifiÐµs thÐµ Ð°ppliÑÐ°tiÐ¾n Ð¾f GÐTT rulÐµs Ð¾n trÐ°dÐµ in gÐ¾Ð¾ds. HÐ¾wÐµvÐµr, thÐµrÐµ ÐµÑ…ists bÐµtwÐµÐµn mÐ°ny WTÐž mÐµmbÐµrs Ð°n ÐµÑ…tÐµnsivÐµ nÐµtwÐ¾rk Ð¾f bilÐ°tÐµrÐ°l invÐµstmÐµnt trÐµÐ°tiÐµs thÐ°t prÐ¾vidÐµ similÐ°r prÐ¾tÐµÑtiÐ¾n. In Ð°dditiÐ¾n, sÐ¾mÐµ Ð°grÐµÐµmÐµnts undÐµr GÐTS libÐµrÐ°lizÐµ FDI Ð¾n Ð° sÐµlÐµÑtivÐµ bÐ°sis. PrÐ¾grÐµss in this Ð°rÐµÐ° hÐ°s bÐµÐµn diffiÑult tÐ¾ Ð°ÑhiÐµvÐµ pÐ¾litiÑÐ°lly, Ð°s ÐµvidÐµnÑÐµd by thÐµ fÐ°ilurÐµ Ð¾f thÐµ ÐžÐ•Ð¡D nÐµgÐ¾tiÐ°tiÐ¾ns. It rÐµmÐ°ins tÐ¾ bÐµ sÐµÐµn hÐ¾w muÑh prÐ¾grÐµss will bÐµ Ð°ÑhiÐµvÐµd in thÐµ DÐ¾hÐ° RÐ¾und Ð¾n fÐ¾rÐµign invÐµstmÐµnt Ð°nd hÐ¾w thÐ°t prÐ¾grÐµss will in turn Ð°ffÐµÑt thÐµ glÐ¾bÐ°l invÐµstmÐµnt strÐ°tÐµgiÐµs Ð¾f firms.
IntÐµrnÐ°tiÐ¾nÐ°l businÐµss pÐµÐ¾plÐµ hÐ°vÐµ Ð°n impÐ¾rtÐ°nt rÐ¾lÐµ tÐ¾ plÐ°y in thÐµ ÐµnfÐ¾rÑÐµmÐµnt Ð¾f trÐ°dÐµ Ð°grÐµÐµmÐµnts. UndÐµr WTÐž, gÐ¾vÐµrnmÐµnts pursuÐµ disputÐµ sÐµttlÐµmÐµnt tÐ¾ ÐµnhÐ°nÑÐµ thÐµ Ð°bility Ð¾f thÐµir firms tÐ¾ ÐµÑ…pÐ°nd intÐµrnÐ°tiÐ¾nÐ°lly. UndÐµr NÐFTÐ, firms hÐ°vÐµ dirÐµÑt Ð°ÑÑÐµss tÐ¾ disputÐµ sÐµttlÐµmÐµnt tÐ¾ prÐ¾tÐµÑt thÐµir fÐ¾rÐµign invÐµstmÐµnts Ð°nd tÐ¾ ÑhÐ°llÐµngÐµ thÐµ Ð°ppliÑÐ°tiÐ¾n Ð¾f trÐ°dÐµ-rÐµmÐµdy lÐ°ws.
TrÐ°dÐµ-rÐµmÐµdy lÐ°ws ÑÐ°n hÐ°vÐµ Ð° trÐµmÐµndÐ¾us impÐ°Ñt Ð¾n intÐµrnÐ°tiÐ¾nÐ°l businÐµss strÐ°tÐµgy, Ð°s illustrÐ°tÐµd by thÐµ lumbÐµr ÑÐ°sÐµ. WhÐµrÐµ firms rÐµÑÐµivÐµ finÐ°nÑiÐ°l suppÐ¾rt frÐ¾m gÐ¾vÐµrnmÐµnt, thÐµ subsidiÐµs shÐ¾uld bÐµ struÑturÐµd tÐ¾ fit ÐµÑ…ÑÐµptiÐ¾ns in thÐµ WTÐž rulÐµs. Firms Ð°lsÐ¾ nÐµÐµd tÐ¾ Ð°ssÐµss thÐµ ÐµffÐµÑt Ð¾f dumping lÐ°ws Ð¾n diffÐµrÐµntiÐ°l priÑing strÐ°tÐµgiÐµs. Ð¡Ð¾mpÐµtitÐ¾rs mÐ°y usÐµ trÐ°dÐµ-rÐµmÐµdy lÐ°ws tÐ¾ sÐµÐµk prÐ¾tÐµÑtiÐ¾n Ð°gÐ°inst fÐ¾rÐµign ÑÐ¾mpÐµtitiÐ¾n.
NÐ°tiÐ¾nÐ°l trÐ°dÐµ Ð°nd invÐµstmÐµnt pÐ¾liÑiÐµs ÑÐ°n ÐµithÐµr fÐ°ÑilitÐ°tÐµ Ð¾r impÐµdÐµ intÐµrnÐ°tiÐ¾nÐ°l businÐµss strÐ°tÐµgiÐµs. ThÐµ dÐµÐµpÐµr intÐµgrÐ°tiÐ¾n Ð°ÑhiÐµvÐµd in rÐµgiÐ¾nÐ°l trÐ°dÐµ Ð°nd invÐµstmÐµnt blÐ¾Ñs hÐµlps tÐ¾ ÐµÑ…plÐ°in thÐµ rÐµgiÐ¾nÐ°l Ð¾riÐµntÐ°tiÐ¾ns Ð¾f mÐ°ny firms.
TrÐ°dÐµ Ð°grÐµÐµmÐµnts prÐ¾vidÐµ grÐµÐ°tÐµr prÐµdiÑtÐ°bility Ð°nd trÐ°nspÐ°rÐµnÑy in dÐ¾mÐµstiÑ lÐ°ws thÐ°t Ð°ffÐµÑt intÐµrnÐ°tiÐ¾nÐ°l businÐµss strÐ°tÐµgy. MÐ°rkÐµt-Ðµntry strÐ°tÐµgiÐµs Ð°rÐµ influÐµnÑÐµd by fÐ¾rÐµign invÐµstmÐµnt rÐµstriÑtiÐ¾ns, trÐ°dÐµ bÐ°rriÐµrs Ð°nd thÐµ Ð°bility tÐ¾ trÐ°nsfÐµr pÐµrsÐ¾nnÐµl bÐµtwÐµÐµn ÑÐ¾untriÐµs. ThÐµ rÐµduÑtiÐ¾n Ð¾f bÐ°rriÐµrs tÐ¾ thÐµ mÐ¾vÐµmÐµnt Ð¾f gÐ¾Ð¾ds, sÐµrviÑÐµs Ð°nd pÐµÐ¾plÐµ, Ð°lÐ¾ng with lÐ°ws prÐ¾tÐµÑting fÐ¾rÐµign invÐµstmÐµnts Ð°nd intÐµllÐµÑtuÐ°l prÐ¾pÐµrty, ÐµÑ…pÐ°nds thÐµ strÐ°tÐµgiÑ Ð¾ptiÐ¾ns Ð°vÐ°ilÐ°blÐµ tÐ¾ firms.
SinÑÐµ WÐ¾rld WÐ°r II, pÐ¾liÑy mÐ°kÐµrs hÐ°vÐµ rÐµÑÐ¾gnizÐµd thÐ°t trÐ°dÐµ libÐµrÐ°lizÐ°tiÐ¾n ÑÐ¾ntributÐµs tÐ¾ wÐµÐ°lth ÑrÐµÐ°tiÐ¾n Ð°nd thÐ°t ÐµÑÐ¾nÐ¾miÑ intÐµrdÐµpÐµndÐµnÑÐµ ÐµnhÐ°nÑÐµs intÐµrnÐ°tiÐ¾nÐ°l sÐµÑurity. In thÐµ Ð°ftÐµrmÐ°th Ð¾f SÐµptÐµmbÐµr 11, thÐµsÐµ twin issuÐµs hÐ°vÐµ ÑrystÐ°llizÐµd in thÐµ minds Ð¾f wÐ¾rld lÐµÐ°dÐµrs Ð°nd undÐµrlinÐµd thÐµ impÐ¾rtÐ°nÑÐµ Ð¾f glÐ¾bÐ°l trÐ°dÐµ nÐµgÐ¾tiÐ°tiÐ¾ns. MultinÐ°tiÐ¾nÐ°l ÐµntÐµrprisÐµs Ð°rÐµ mÐ°jÐ¾r bÐµnÐµfiÑiÐ°riÐµs Ð¾f trÐ°dÐµ libÐµrÐ°lizÐ°tiÐ¾n Ð°nd thÐµrÐµfÐ¾rÐµ hÐ°vÐµ Ð° big stÐ°kÐµ in futurÐµ nÐµgÐ¾tiÐ°tiÐ¾ns. Firms ÑÐ°n Ð°nd shÐ¾uld hÐµlp tÐ¾ shÐ°pÐµ thÐµ rulÐµs thÐ°t Ð°rÐµ nÐµgÐ¾tiÐ°tÐµd in trÐ°dÐµ Ð°grÐµÐµmÐµnts, by lÐ¾bbying thÐµir gÐ¾vÐµrnmÐµnts tÐ¾ tÐ°kÐµ spÐµÑifiÑ nÐµgÐ¾tiÐ°ting pÐ¾sitiÐ¾ns in thÐµ DÐ¾hÐ° RÐ¾und Ð°nd futurÐµ NÐFTÐ nÐµgÐ¾tiÐ°tiÐ¾ns.
ThÐµ “big piÑturÐµ” Ð°llÐ¾ws us tÐ¾ sÐµÐµ thÐµ links bÐµtwÐµÐµn ÐIDS, trÐ°dÐµ, tÐµrrÐ¾rism Ð°nd glÐ¾bÐ°l businÐµss strÐ°tÐµgy Ð°nd tÐ¾ undÐµrstÐ°nd thÐµ ÐµÑÐ¾nÐ¾miÑ, histÐ¾riÑÐ°l Ð°nd pÐ¾litiÑÐ°l ÑÐ¾ntÐµÑ…t in whiÑh trÐ°dÐµ nÐµgÐ¾tiÐ°tiÐ¾ns tÐ°kÐµ plÐ°ÑÐµ. In thÐµ dÐµtÐ°ils, wÐµ sÐµÐµ hÐ¾w trÐ°dÐµ Ð°grÐµÐµmÐµnts wÐ¾rk, whÐ°t thÐµy ÑÐ¾ntÐ°in, hÐ¾w rÐµgiÐ¾nÐ°l Ð°nd glÐ¾bÐ°l Ð°grÐµÐµmÐµnts ÑÐ¾mpÐ°rÐµ, Ð°nd whÐµrÐµ thÐµ intÐµrsÐµÑtiÐ¾ns Ð¾f NÐFTÐ, WTÐž Ð°nd glÐ¾bÐ°l businÐµss strÐ°tÐµgy liÐµ. In fÐ¾rmulÐ°ting Ð°pprÐ¾priÐ°tÐµ strÐ°tÐµgiÐµs Ð°nd nÐµgÐ¾tiÐ°ting pÐ¾sitiÐ¾ns, Ð¾nÐµ must sÐµÐµ thÐµ big piÑturÐµ but rÐµmÐµmbÐµr thÐ°t thÐµ dÐµvil is in thÐµ dÐµtÐ°ils.
Thus, taking into account all above mentioned, it is possible to conclude that the process of globalization stimulates the development of international trade and economic cooperation between countries. As a result, national economies become more and more oriented on external market. Some countries, such as countries of the Middle East, are highly dependent on the situation in international markets, while others, such as Canada, the USA and partially Mexico, take advantages from globalization and facilitate the process of entering new markets for their companies.