Terms used in shipping such as European Patent Office,European Space Agency,European Union


Terms used in shipping such as European Patent Office,European Space Agency,European Union etc.



This post explains about terms used in shipping such as European Investment Bank, European Monetary Institute ,European Norm,European Patent Convention,European Patent Office,European Space Agency,European Union,European Technical Approval, European Monetary System 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


European Free Trade Association (EFTA) - Formed in 1960, the regional grouping which includes Austria, Iceland, Norway, Sweden, Switzerland. and Finland (an associate member). Member countries have eliminated tariffs on manufactured goods and agricultural products that originate in and are traded among member countries.


European Investment Bank - The Luxembourg-based EIB, established in 1957, is an independent public institution set up the Treaty of Rome to contribute to balanced and steady development in the European Community. The EIB provides loans and guarantees to companies and public institutions to finance regional development, structural development, and achieve cross-border objectives. The EIB has emphasized regional development and energy, with Italy, Greece, and Ireland receiving major support.


European Monetary and Cooperation Fund - The EMCF, originally created in 1973, was revised and linked with the European Monetary System in 1979. While intended to support the European Currency Unit and support a reserve system of central banks, the Fund has been used to keep account of short-term borrowings and support currencies through intervention in foreign exchange markets at the request of member states. The Fund uses the Bank for International Settlements as its agent.


European Monetary Institute - Under provisions of the Maastricht Treaty, the EMI will manage the national currency reserves of EC central banks and encourage international acceptance of the European Currency Unit (ECU). The EMI is also intended to strengthen coordination of monetary policies among European Community member states and to study and develop the infrastructure and procedures required for the conduct of single monetary policy. The EMI will be established on January 1, 1994. See: Maastricht Treaty.

Terms used in shipping such as European Patent Office,European Space Agency,European Union etc

European Monetary System - The EMS was created in 1979 to support monetary stability, move Europe toward closer economic integration, and avoid disruptions in trade resulting from fluctuations in currency exchange rates. EMS members deposit gold and dollar reserves with the European Monetary Cooperation Fund (EMCF) in exchange for the issuance of European currency units (ecu). The EMS has three main features: the ecu, an exchange rate and intervention mechanism, and credit mechanisms to support member countries. All EC members except Greece and the United Kingdom participate in the exchange rate mechanism of the EMS. See: European Currency Unit, Exchange Rate Mechanism.


European Monetary Union - See: Maastricht Treaty.


European Norm - The "EN" mark is a designation of a stnadards directive issued by CEN (Comite Europeen de Normalisation) or CENELEC (Comite Europeen de Normalisation Electrotechnique). Notations regarding En generally don't appear on the product. See: Conformite Europeene.


European Organization for Testing and Certification - The EOTC promotes mutual recognition of tests, test and certification procedures, and quality systems within the European private sector for product areas or characteristics not covered by EC legislative requirements. The Organization was created in April 1990 by the European Community Commission under a memorandum of agreement with CEN/CENELEC and the European Free Trade Association countries. EOTC headquarters are in Brussels, Belgium.


European Patent Convention - The European Patent Convention, EPC, is an agreement between European nations to centralize and standardize patent law and procedure. The EPC, which took effect in 1977, established a single "European patent" through application to the European Patent Office in Munich. Once granted, the patent matures into a bundle of individual patents -- one in each member country designated by the patent applicant. Patent applicants must indicate the countries to which they wish to have pante protection.


European Patent Office - The EPO (German: Europaeisches Patentamt; French: Office Europeen de Brevets) promotes easier, cheaper, and more reliable patent protection by establishing a single procedure for granting patents on the basis of a single European patent law. Standards are available in English from the World Intellectual Property Organization. The Office was established in October, 1973; its headquarters are in Munich, Germany. EPO membership is not open to the U.S., but close relations are maintained through the Commerce Department's Patent and Trademark Office.


European Research Coordination Agency - The European Research Coordination Agency, EUREKA, coordinates advanced technology projects being carried out by European industry. The Agency was created in 1985; headquarters are in Brussels, Belgium; membership includes the European Community countries, plus Norway, Sweden, Finland, Switzerland, Austria, Iceland, and Turkey.


European Space Agency - The ESA designs and coordinates construction of satellite and launching systems. Members include: Austria, Belgium, Denmark, France, Germany, Ireland, Italy, the Netherlands, Norway, Spain, Sweden, Switzerland, and the United Kingdom.


European System of Central Banks - The ESCB, as envisioned by the Treaty of Maastricht, would be created for the primary purpose of maintaining price stability within the European Community. The ESCB would be composed of the European Central Bank and of the central banks of the Members States. It would be independent of national governments and Community authorities. See: Treaty of Maastricht.


European Technical Approval - An ETA is a favorable technical assessment of the fitness for use of a product for an intended use, based on the fulfillment of the essential requirements for building works for which the product is used, as provided for under the EC Construction Products Directive (89/106/EEC). A European technical approval may be granted to products for which there is neither a harmonized European standard, nor a recognized national standard, nor a mandate for a harmonized standard; and to product which differ significantly from harmonized or recognized national standards. Such approval permits free circulation of the products within the member countries of the European Community and the European Free Trade Association.


European Telecommunications Standards Institute - ETSI (French: Institut Europeen des Normes des Telecommunication; German: Europaisches Institut fur Telekummonikationsstandards) was established in March 1988 in response to the inability of the European Conference of Postal and Telecommunications Administrations (CEPT) to keep up with the schedule of work on common European standards and specifications agreed to in the 1984 Memorandum of Understanding between CEPT and the EC. ETSI has a contractual relationship with the EC to pursue standards development for telecommunications equipment and services, and it cooperates with other European standards bodies such as CEN/CENELEC. ETSI membership includes the telecommunications administrations that constitute the CEPT as well as manufacturers, service providers, and users. See: Confernece Europeenne des Administrations des Postes et des Telecommunications.


European Trade Union Confederation - ETUC, founded in 1973, is the primary organization which speaks for European trade unions. ETUC consists of more than 30 organizations in 20 Western European countries and has over 40 million members. The Confederation's principal goal is to influence European policies affecting workers; it is active with the European Community, the Council of Europe, the European Free Trade Association, and the OECD Trade Union Advisory Committee. ETUC headquarters are in Brussels, Belgium.


European Union - The EU is an umbrella reference to the European Community (EC) and to two European integration efforts introduce by the Maastricht Treaty: Common Foreign and Security Policy (including defense) and Justice and Home Affairs (principally cooperation between police and other authorities on crime, terrorism, and immigration issues). The term "European Union" was introduced in November 1993 (when the Maastricht Treaty on European Union entered into force). The term "European Community" (EC) continues to exist as a legal entity within the broader framework of the EU. See: European Community Maastricht Treaty.


European Union (EU):Formerly known as the European Community, it is a regional organization created in 1958 providing for gradual elimination of intra-regional Customs duties and other trade barriers, applying a common external tariff against other countries and providing for gradual adoption of other integrating measures, including a Common Agricultural Policy (CAP), and guaranteeing free movement of labor and capital. The original six members were Belgium, France, West Germany, Italy, Luxembourg, and the Netherlands. Denmark, Ireland, and the United Kingdom became members in 1973. Greece acceded in 1981. And Spain and Portugal in 1986. Austria, Finland, and Sweden joined the Union on January 1, 1995. The term European Union is used to refer to three separate regional organizations consisting of the European Coal and Steel Community (ECSC), the European Atomic Energy Community (EURATOM), and the European Economic Community (EEC). These have been served since 1967 by common institutions as the EU Commission, the EU Council, the European Parliament, and the Court of Justice of the European Communities. Currently there are 25 member states of the EU.


The above details describes about terms called in shipping such as European Investment Bank, European Monetary Institute ,European Norm,European Patent Convention,European Patent Office,European Space Agency,European Union,European Technical Approval, European Monetary System 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 European Committee for Standardization,European Community,European Currency Unit,European Court of Justice

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