Download OPEC - Net Start Class

OPEC
• Organization of Petroleum Exporting
Countries
• Cartel that sets oil prices and supply
– Formed to resist European and American
companies
– Hold 80% of the world’s oil reserves
– Iran, Iraq, Kuwait, Qatar, Saudi Arabia, United Arab
Emirates, Libya, Nigeria, Venezuela, Algeria,
Ecuador, Angola
Founding of OPEC
• OPEC’s formation by five oil-producing
countries in Baghdad in September 1960
occurred at a time of transition in the
international economic and political
landscape; with extensive decolonization.
• Many new independent states in the
developing world
• The mission OPEC is to coordinate and
unify the petroleum policies of its Member
Countries
• Ensure the stabilization of oil markets in
order to secure an efficient, economic and
regular supply of petroleum to consumers
• To provide a steady income to producers
and a fair return on capital for those
investing in the petroleum industry
European Union
• 9 May 1950- Belgium, Germany, France,
Italy, Luxembourg and the Netherlands
form the European Coal and Steel free
trade area
• 1 January 1993- the single market is
established with free movement of goods,
services, people, and money.
• 29 October 2004-European Constitution
established
EUROPEAN UNION
• The EU was created in the
aftermath of the second
world war. The first steps
were to foster economic
cooperation
• countries that trade with
one another are
economically
interdependent and will
thus avoid conflict
• the union has developed into a huge
single market with the euro as its
common currency.
• The E.U. has delivered over 50 years
of peace, stability, and prosperity,
helped raise living standards, and is
building a single Europe-wide market
in which people, goods, services, and
capital move among Member States
as freely as within one country.
The European
Union
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Austria
Germany
France
Belgium
Netherlands
Italy
Luxembourg
Denmark
Sweden
•Portugal
•Cyprus
•Ireland
•Malta
•Greece
•Romania
•Spain
•Bulgaria
•Czech
Republic
•United
Kingdom
•Slovakia
•Latvia
•Poland
•Lithuania
•Hungary
•Estonia
•Slovenia
•Finland
ASEAN
• Association of
• South
• East
• Asian
• Nations
ASEAN
• Formed on 8 August 1967
• Includes Indonesia, Malaysia, the
Philippines, Singapore and Thailand
Brunei, Burma (Myanmar), Cambodia,
Laos, and Vietnam
• The motivations for the birth of ASEAN
were so that its members’ governing
elite could concentrate on nation
building
• formed to prevent Indonesia from
becoming a hegemony
ASEAN’S GOALS
• Accelerate the economic growth, social
progress, and cultural development in the
region through joint endeavors
• Promote regional peace and stability by
respecting justice and rule of law in the
relationships between countries
• To work together and assist one another
on matters of common interest
NAFTA
• On January 1, 1994, the North American
Free Trade Agreement between the United
States, Canada, and Mexico (NAFTA)
entered into force.
• Created the world’s largest free trade area
• Mexico and Canada are now the top
buyers of American products
• Canada and Mexico are the 2nd and 3rd
largest suppliers to the United States
NAFTA’S GOALS
• Eliminate barriers in trade and
make it easier to trade goods and
services across borders of
member nations
• Promote conditions of fair
competition
• Increase investment opportunities
in member nations