International trade

International trade

The buying and selling of goods, services and capital across international borders or territories.

Industry: Economy

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International trade

Southern African Customs Union (SACU)

Economy; International trade

An African customs union comprising Botswana, Lesotho, Namibia, South Africa and Swaziland.

An international nomenclature developed by the World Customs Organization, which is arranged in six-digit codes allowing all participating countries to classify traded goods on a common basis. Beyond ...

Green Room

Economy; International trade

The informal name of the director-general's conference room. It is used to refer to meetings of 20-40 delegations, usually at the level of heads of delegations. These meetings can take place ...

Government Procurement Agreement (GPA)

Economy; International trade

An agreement (ie, signed by only some WTO members) covering the procurement of goods, services and capital infrastructure by governments and other public authorities.

Government use

Economy; International trade

For patents: when the government itself uses or authorises other persons to use the rights over a patented product or process, for government purposes, without the permission of the patent owner.

Harmonising formula

Economy; International trade

Used in tariff negotiations for much steeper reductions in higher tariffs than in lower tariffs, the final rates being harmonized i.e. closer together.