Organization of the petroleum exporting countries (OPEC) –
Headquarter is in Vienna (Austria).
Member countries – 12.
Established in 1960.
These nations accounts for rd of the world’s oil reserves and rd of the oil production.
Its objective is to determine the best means for safeguarding the organizations interests, individually and collectively.
It pursues ways and means of ensuring the stabilization of prices in international oil markets with a view to eliminate harmful and unnecessary fluctuations.
To provide an efficient and regular supply of petroleum to consuming nations and a fair returns on their capital to those investing in the petroleum industry.
OPEC fund was set up in 1976 to provide financial aid on advantageous terms to developing countries and international development agencies.
In 1980 the OPEC fund was transformed into a permanent autonomous international agency.
Asian development bank (ADB) –
Established following the recommendations of the United Nations economic and social commission for Asia and the pacific.
Formed to foster economic growth and cooperation in the region of Asia and the pacific and to accelerate the economic development of the developing countries in the region.
Established in 1966.
Member countries – 67.
Headquarter is in Manila, Philippines.
Asian pacific economic cooperation (APEC) –
Is the premier forum for facilitating economic growth, cooperation, trade and investment in the Asia pacific region.
It is the only inter governmental grouping in the world operating on the basis of non binding commitments, open dialogue and equal respect for the views of all participants.
Established in November 1989, in Canberra (Australia).
Headquarter is in Singapore.
World trade organization (WTO) –
Commenced under the Marrekech agreement in 1995 and replaced GATT.
Most of the issues it deals with have been derived from the Uruguay round of negotiations.
It is the only international organization which deals with the global rules of trade between the nations, helps producers of goods and services, exporters conduct their business.
Rules regarding to trade, tariff, patent, and intellectual property rights are framed by the WTO.
The members agree to accord “most favored nation” (MFN) status to each other. Exceptions allowed for preferential treatment of developing countries, regional free trade areas and custom unions.
Over 75% of WTO members are developing countries.
WTO membership allows access to developed markets at lower tariff rates.
The WTO’s agreement on “Trade related aspects of intellectual property right” (TRIPS), was negotiated in 1986-1994 Uruguay round.
In 1995 TRIPS agreement provided for both product patents and process patents.
Agreement gave developing countries 10 years to enact laws to protect intellectual property. (India enacted its patent (amendment) act in 2005 to confirm the agreement)
Under the agreement protection to patents had to be provided for 20 years.