Terms used in shipping such as Economic Cooperation Organization,Economic Officers,Economic Policy Council

 

Terms used in shipping such as Economic Cooperation Organization,Economic Officers,Economic Policy Council etc.

 

This post explains about terms used in shipping such as Eco-Label,European Court of Justice,Economic Cooperation Organization,Economic Officers,Economic Policy Council,Economic Speed,Economic Stabilization Fund etc. These terms used in international business are arranged in alphabetical order and you may add more information about terms used in export business at the end of this article, if you wish.

 

Terms used in shipping

 

ECCN - Export Control Classification Number;, formerly: - Export Commodity Classification Number

 

ECE - Economic Commission for Europe

 

ECGD - Export Credit Guarantee Department

 

ECJ - European Court of Justice

Terms used in shipping such as Economic Cooperation Organization,Economic Officers,Economic Policy Council etc

ECLAC - Economic Commission for Latin America and the Caribbean

 

ECLS - Export Contact List Service

 

ECO/COM - Economic/Commercial Section

 

Eco-Label - An eco-label is a voluntary mark awarded by the European Community (EC) to producers who can show that their product is significantly less harmful to the environment than similar products. The EC environment ministers agreed to the concept of an eco-label in March of 1992. The EC Commission and member states are drafting proposals for eco-labelling criteria with the intention of providing a clear commercial benefit for developing less polluting products and processes.

 

Economic and Social Commission for Asia and the Pacific - See: United Nations Regional Commissions.

 

Economic and Social Commission for Western Asia - See:United Nations Regional Commissions.

 

Economic and Social Council - ECOSOC was created in 1945 to coordinate the economic and social work of the United Nations. The Council undertakes studies and makes recoomendations on development, world trade, industrialization, natural resources, human rights, the status of women, population, narcotics, social welfare, science and technology, crime prevention, and other issues. The Council structure includes five regional commissions and six functional commissions. The functional commissions include: - Commission on Human Rights - Commission on Narcotic Drugs - Commission for Social Development - Commission on the Status of Women - Population Commission - Statistical Commission. See: United Nations Regional Commissions.

 

Economic Bulletin Board - The EBB is a personal computer-based economic bulletin board operated by the U.S. Department of Commerce in Washington, D.C. The EBB is an online source for trade leads and statistical releases from the Bureau of Economic Analysis, the Census Bureau, the International Trade Administration, the Bureau of Labor Statistics, the Federal Reserve Board, Department of the Treasury, and other Federal agencies. The EBB may be reached 24 hours each day, 7 days each week at 202-482-3870(300/1200/2400 bps) with PC communication switches set to no parity, 8 bit words and 1 stop bit. The 9600 bps service uses US Robotics Dual Standard HST/V. 32 modems and can be reached by dialing 202-482-2584. Information may be obtained by calling 202-482-1986 (M-F, 8:30 am - 4:30 pm, EST)

 

Economic Commission for Africa - See:United Nations Regional Commissions.

 

Economic Commission for Europe - See:United Nations Regional Commissions.

 

Economic Commission for Latin America and the Caribbean - See: United Nations Regional Commissions.

 

Economic Community of Central African States - The Economic Community of Central African States (French: Communaute Economique des Eats de l'Afrique Centrale, CEEAC) was created by the Customs and Economic Union of Central Africa to promote regional economic cooperation, eliminate trade restrictions, and establish a Central African Common Market. Members include: Burundi, the Cameroon, Central African Republic, Chad, Congo, Equatorial Guinea, Gabon, Rwanda, Sao Tome and Principe, and Zaire. The Community was established in 1983 (became operational in 1985); headquarters are in Libreville, Gabon.

 

Economic Community of the Great Lakes Countries - The Economic Community of the Great Lakes Countries (French: Communaute Economique des Pays des Grands Lacs, CEPGL) was created in September 1976 to promote regional economic cooperation and integration. The Community is associated with the Great Lakes States Development Bank (Banque de Developpement des Etats des Grands Lacs). Community members include: Burundi, Rwanda, and Zaire. Headquarters are in Gisengi, Rwanda. See: Development Bank of the Great Lakes States.

 

Economic Community of West African States - ECOWAS, established in May 1975 by the Treaty of Lagos (first operating in November 1976), is an economic association of 16 West African nations aimed at creating a full customs union (not yet achieved) as well as social and cultural fellowship. Members include: Benin, Burkina Faso, Cape Verde, C"te d'Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Mauritania, Niger, Nigeria, Senegal, Sierra Leone, and Togo. Community headquarters are in Abuja, Nigeria.

 

Economic Cooperation Organization - The ECO strengthens cooperation to improve socio-economic conditions among the populations of members. The Organization was founded in 1964; headquarters are in Tehran, Iran. Members include: Afghanistan, Azerbaijan, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkmenistan, Turkey, and Uzbekistan.

 

Economic Officers - Embassy officials who analyze and report on macroeconomic trends and trade policies and their implications for U.S. policies and programs. Economic Officers represent U.S. interests and arrange and participate in economic and commercial negotiations. See: Commercial Officers Foreign Service.

 

Economic Policy Council - The EPC was established by Executive Order in 1985 to address major trade policy issues in a single forum as a means of reducing tensions between different groups, such as the Trade Policy Committee and the Senior Interagency Group. The Council was modified in the Omnibus Trade and Competitiveness Act of 1988. Membership includes Treasury (chair pro tem), State, Agriculture, Commerce, Labor, Transportation, the OMB, the U.S. Trade Representative, the Council of Economic Advisers, and the Assistant to the President for Science and Technology.

 

Economic Research Service - The Agriculture Department's ERS provides expertise, data, models and research information about the agricultural economies and policies of foreign countries, the agricultural trade and development relationships between foreign countries and the United States, and U.S. agricultural policies. Topics include: (a) agricultural trade and trade policies and their relationship to the economic, technical, and political factors affecting agricultural trade among countries; (b) economic and agricultural market structure, efficiency, and performance of foreign countries; (c) technical production systems of foreign countries; and (d) foreign governments' production, consumption, monetary, and trade policies.

 

Economic Sanctions - Economic sanctions used for foreign policy purposes are economic penalties, such as prohibiting trade, stopping financial transactions, or barring economic and military assistance, used to achieve the goal of influencing the target nation. Sanctions can be imposed selectively, stopping only certain trade and financial transactions or aid programs, or comprehensively, halting all economic relations with the target nation. While sanctions can be imposed to serve multiple goals, the measures are more successful in achieving the less ambitious and often unarticulated goals of: (a) upholding international norms by punishing the target nation for unacceptable behavior and (b) deterring future objectionable actions. Sanctions are usually less successful in achieving the most prominently stated goal of making the target country comply with the sanctioning nation's stated wishes.

 

Economic Speed - This is the speed of a vessel producing the best possible financial results for the owners, giving proper consideration to the following: The prices of bunkers in the ports en route.

 

Fuel consumption of the vessel at various speeds.

 

Daily operating costs.

 

The net freight per ton of cargo.

 

Operating profit per day.

 

Subsequent available employment of vesseland anticipated freight.

 

Economic Stabilization Fund - The ESF is is a fund used to stabilize the U.S. dollar in times of foreign exchange volatility. The fund is administered jointly by the Treasury Department and the Federal Reserve Board, through its New York offices. Fund resources, appropriated by Congress, are usually provided fifty percent by Treasury and the Fed. Although not a major role, the fund has also been used in swap agreements with other countries to support their currencies. The fund was established by the Gold Reserve Act of 1934.

 

The above details describes about terms called in shipping such as Eco-Label,European Court of Justice,Economic Cooperation Organization,Economic Officers,Economic Policy Council,Economic Speed,Economic Stabilization Fund etc. These phrases may help importers and exporters on their day to day business activities. The readers can also add more information about terms used in shipping business below this post.Terms used in shipping such as East coast of Ireland, Each cargo voyage,Employer's liability,Export Administration Regulations

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