Common Agricultural Policy (CAP)

Common Agricultural Policy (CAP)

The EUs comprehensive system of production targets and marketing mechanisms designed to manage agricultural trade within the EU and with the rest of the world.

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Part of Speech: noun
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Industry/Domain: Economy
Category: International trade
Organization: WTO
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Related terms

Common Agricultural Policy (CAP)

Agriculture; Agricultural programs & laws

The set of legislation and practices jointly adopted by the nations of the European Union (EU) in order to provide a common, unified policy framework for agriculture. Its stated ...

Common Agricultural Policy (CAP)

Law; European law

EU policy to protect agriculture throughout the EU by controlling prices and levels of production and by subsidising the rural lifestyle in order to safeguard the countryside.

Common agricultural policy (CAP)

Agriculture; EU agricultural policy

This is the set of legislation and practices adopted by the European Union to provide a common, unified policy on agriculture. It aims to ensure that agriculture can be maintained ...

United Nations Center for International Trade Law (UNCITRAL)

Economy; International trade

An international body that drafts model laws such as the one on government procurement.

Uruguay Round

Economy; International trade

Multilateral trade negotiations launched at Punta del Este, Uruguay in September 1986 and concluded in Geneva in December 1993. Signed by Ministers in Marrakesh, Morocco, in April ...

variable levy

Economy; International trade

Customs duty rate which varies in response to domestic price criterion.

voluntary restraint arrangement (VRA)

Economy; International trade

Bilateral arrangements whereby an exporting country (government or industry) agrees to reduce or restrict exports without the importing country having to make use of quotas, ...

waiver

Economy; International trade

Permission granted by WTO members allowing a WTO member not to comply with normal commitments. Waivers have time limits and extensions have to be justified.