Content Page 1. Executive Summary………………………………………………………………... 3 2. Brief Background Information on Free Trade Agreement……………………… 4 3. Brief Overview of ASEAN-Korea Free Trade Agreement (AKFTA)………..…. 4 4. Benefits of AKFTA on Companies in Singapore a. Economic Benefits – Trade in Goods and Services……………..………… 5 b. Intellectual Property Protection………………………………………………. 7 c. Human Resource Management and Development………………………… 8 5. Challenges Faced By Companies in Singapore regarding to AKFTA
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Free trade agreement What is The Free Trade Agreement? The Free Trade Agreement or FTA is more than just exchanging goods between Canada and America. The FTA‚ best understood in the words of Ronald Reagan is “ A new economic constitution for North America.” (Cameron Pg. 3). It is an exchange of goods between Canada and America‚ free of taxes on import and export products‚ so each of the countries benefits from the other’s industry. The signing of the Free Trade Agreement replaced the General Agreement
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Free Trade Agreement between the Government of the Republic of Chile and the Government of the United Mexican States . In the intent of reaching a better commercial relations balance between both nations and with the vision of stretching bonds‚ creating a bigger market‚ and enhancing the competitiveness of local firms in global markets‚ Chile and Mexico signed the Chile-Mexico Free Trade Agreement in Santiago Chile on April 17 1998. The Agreement came into effect on August 1‚ 1999. Both Parties
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Forming a free trade agreement between countries is believed to have brought some negative impacts towards both countries’ in employment and growth. One of the objections to Country A signing a free trade agreement with Country B is that free trade may give a negative impact on jobs. Most free trade agreements give false promises‚ claiming that it creates jobs and raise incomes. However‚ the problem with this claim is that it misrepresents the real effects of trade on the economy. Trade‚ in fact‚
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International Trade‚ which includes both imports and exports. For a country who’s whole economy depends on international trade‚ it makes complete sense that the country would want to strengthen as many ties with other nations as possible. South Korea landed their very first Free Trade deal with Chile in 2003‚ known as the Korea-Chile FTA. Since then Korea managed to sign Free Trade Agreements with many other countries‚ such as the US‚ Singapore‚
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Stratsim Stratsim simulation: Marketing Strategy and Implementing Summary More than one million Americans are employed in manufacturing motor vehicles‚ equipment and parts. But the industry has changed dramatically since the U.S. “Big Three” motor vehicle corporations (General Motors‚ Ford and Chrysler) produced the overwhelming majority of cars and light trucks sold in the United States‚ and directly employed more than that many people themselves. By 2003‚ most passenger
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Introduction Since Adam Smith wrote about “Free Markets” in his magnum opus “The Wealth of Nations”‚ economists‚ capitalists‚ as well as market socialists are aiming for country-systems where trade happens without governmental‚ or any other interference‚ no tariffs or any other barriers. The goal of free trade areas is to eliminate exactly these hurdles for free trade. Free trade areas are trade blocs consisting of states who signed a Free Trade Agreement (FTA) which eliminates things as tariffs‚
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Brunei‚ in 1990s‚ Cambodia‚ Laos‚ Myanmar and Vietnam (CMLV) also joined the bloc (Chia‚ 2004). In 1992‚ a free trade agreement‚ namely ASEAN Free Trade Area (AFTA) was introduced. According to the agreement‚ tariffs are reduced to zero percent by 2010 for ASEAN-6 and by 2015 for CMLV (Chia‚ 2004). China is one of the largest emerging economies in the world today. Its entry to the World Trade Organization (WTO) in 2001 contributed to the cooperation between the ASEAN countries later in 2010. Entering
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American Free Trade Agreement On January 1‚ of 1994 a new approach to trade amongst North American countries took effect. With the aid of the United States Congress‚ President Bill Clinton was able to form a contract between The North American Countries of Canada‚ Mexico‚ and The United States of America. This contract‚ known as the North American Free Trade Agreement (or NAFTA for short) was designed with many economic results in mind. Hopes were that not only would trade be easier
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Trade agreements are a wide ranging tax‚ tariff and trade treaties that often include investment guarantees. The most common trade agreements are of the preferential and free trade types and are concluded in order to reduce (or eliminate) tariffs‚ quotas and other trade restrictions on items traded between the signatories. General Agreements of Trade and Tariff (GATT) A treaty was created following the conclusion of World War II. The General Agreement on Tariffs and Trade (GATT)‚ which was a
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