Question? Call Us  +1 (817) 546-4770

MGT 615 International Trade Law

Academic Anxiety?

Get an original paper within hours and nail the task

156 experts online

Free Samples

MGT 615 International Trade Law

.cms-body-content table{width:100%!important;} #subhidecontent{ position: relative;
overflow-x: auto;
width: 100%;}

MGT 615 International Trade Law

0 Download6 Pages / 1,425 Words

Course Code: MGT615
University: Arab Open University

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Kuwait

Questions:

Choose one topic of the following.
1.Saudi Arabia’s international trade relations, with focus on international trade in services.
 
You should discuss Saudi Arabia’s WTO accession documents, and the commitments it made with regard to trade in services.
Discuss at least two international treaties or agreements that deals with trade in services in which Saudi Arabia is a party.
Assess the impact of the WTO on trade in services in Saudi Arabia, and your opinion of the future of international trade in the country.
 
2.”If they don’t shape up, I would withdraw from the WTO,” the U.S. president said last summer. He has been vocal in his displeasure with the WTO, and how the U.S. has been doing in international trade. He also went on and unilaterally announced new tariffs on steel and aluminum.
 
Explain the main complaint of the U.S. president about the WTO. What do you think of his complaint?”
Do these tariffs violate the WTO rules? Explain.
How can the U.S. withdraw from the WTO?
Discuss how can WTO members react to those unilateral tariffs.
Assess the impact of the current U.S. policy on international trade, and the future of the WTO.

Answers:

Introduction
International trade has become a significant aspect of numerous international affairs. As a result of international trade, most nations are not only becoming interdependent to one another but they are also trying to conduct efficient world trade. Saudi Arabia is one of the largest countries in the Gulf region with an estimated population of 32 million. It also has the largest economy in the Arab World with a GDP of 683.7 billion dollars (Al Rajhi et al., 2012).  In line with being the largest economy in the Arab world, it is also the only G-20-member country from the region.  The government of Saudi Arabian is in charge of major economic activities in the region. The country has approximately 16 per cent of world petroleum reserves and further plays a critical role in OPEC (Ball, Geringer, Minor and McNett, 2012). Saudi Arabia is also one of the largest supplier, exporter, large-scale oil refiner as well as a producer of natural gas. This paper seeks to discuss Saudi Arabia’s WTO accession documents and the commitments it made in line with trade in services. The paper will further elaborate on international agreements and treaties that deal with trade in services in which Saudi Arabia is a member.  Besides, the impact of the WTO on trade in services in Saudi Arabia will be discussed.
Arabia’s WTO accession document
Evidently, Saudi Arabia has established itself to be one of the biggest markets on the planet and in addition in the Arab world for both manufactured as well as service goods. Saudi Arabia got its formal accession in 2005 following the effective bilateral agreements with the USA (Abedini and Péridy 2008). The procedure of Saudi Arabia accession and participation to the World Trade Organization (WTO) has provided numerous benefits. The Saudi Arabia entry in the WTO has increased trade volume, presents several negotiating as well as addresses cultural and economic problems (Goldstein, Rivers and Tomz 2007). Saudi Arabia WTO accession has enabled the country to remove protective barriers, open key service segments, for example, saving money, and protection, legitimate and capital markets to remote cooperation, place ceilings on tariffs and further protect intellectual property rights. The country has built an open, transparent and rule-based regime to tackle the technical trade barriers. The WTO accession has also enabled the country to call for tariff limitation in different sectoral initiatives, government procurement agreements notwithstanding publishing service (Mohanty, et al. 2011). Saudi Arabia has also changed rivalry laws to give against anti-protection with respect to WTO rules.
International Treaties or agreements in which Saudi Arabia is a member
Saudi Arabia is a party in several bilateral and multilateral trade agreements. To start with, Saudi Arabia is one of the members of the Gulf Cooperation Council (GCC). The GCC comprises of countries such as Bahrain, the UAE, Qatar and Kuwait (Mohanty et al., 2011). GCC is a regional intergovernmental political and economic union (Reiche, 2010). The GCC trade agreement fosters free entry of goods and services among member states. It also promotes economic, social, security and cultural cooperation between the six states that convenes each year to discuss regional affairs. Cumulatively, the GCC countries produce almost a half of the world oil reserves (Rajhi, et al. 2012).
On the other hand, Saudi Arabia is also a member of the Greater Arab Free-Trade Area (GAFTA). GAFTA is a standout amongst the most basic financial accomplishments in Arab regular work (Abedini and Péridy, 2008). It contributes towards framing the Arab regular market. The GAFTA liberalizes goods and services through customs duties and charges exception between all the Arabic member countries of the GAFTA (Zarrouk, 2000). The exception is in the less developed countries (Mohanty, et al. 2011). The Arab countries have further engaged in negotiations to liberalize investments and services among them to further encourage economic integration among the Arabic countries.
The impact of World Trade Organizations on trade in services in Saudi Arabia
Saudi Arabia settled on a key decision to join the World Trade Organization (WTO) to profit by both the exchange opportunities as well as the perceived globalization. The WTO agreements were essentially formed to transform the existing market system and further improve international trade that complies with global rules (Rajhi, et al. 2012). The changes that have been formed have made a significant impact on government policies, enterprise reorganization, as well as transforming the national economy (Al-Somali, Gholami and Clegg, 2009). Most of the Saudi Arabian companies enjoy greater opportunities when they enter into an effective partnership with international companies. The companies take full advantage of their accumulative efforts in the trans-borders economy.
Additionally, the formation of the WTO introduced new elements in Saudi Arabia. It has made the trade to become multi-faceted and dynamic particularly in the services sector. The improvement of the IT revolution has made everything to be exchanged immediately particularly in innovation, finance and intellectual property (Goldstein, Rivers and Tomz, 2007). It has also safeguarded the Saudi Arabian Kingdom from biased trade approaches of different nations by guaranteeing more prominent relationship and includes the utilization of the settlement procedure to resolve the exchange question with different nations (Goldstein, Rivers and Tomz 2007). The WTO has also ensured that Saudi Arabia is not subjected to anti-dumping practices unless within the WTO guidelines framework (Saudi Ministry of Commerce and Investment, 2012). The WTO on trade in services will prompt domestic economic reforms, privatization as well as make the country a Foreign Direct Investments destination. As argued by Saudi businesses, the WTO accession will ensure greater domestic efficiency in the Saudi Arabia economy (Abedini and Péridy 2008). As much as joining WTO will increase trade in services in the world, WTO promotion could have a significant effect on several Saudi industries such as the petrochemical industry, finance service sectors and telecommunications (WTO, 2005).
Since Saudi Arabia holds the privilege of exchange for upstream oil generation, the WTO promotion has profited chances to open this segment further to rebuild and update itself through collaboration (Goldstein, Rivers and Tomz 2007). It has likewise facilitated the stream of products and ventures between countries, making it even worldwide in nature. The rapid developments in the service sector will enable Saudi Arabia to diversify its market and products to allow them to go beyond national boundaries in future (Rose, 2004). The circumstance will call for dire monetary changes that will help in defeating the difficulties of promotion.
Conclusion
 Saudi Arabia’s international trades in services have encouraged some significant changes in the worldwide trade scene. The WTO accession will be viewed as a basic advance to rejuvenate the Saudi private part if managed appropriately. The collaboration of the Saudi market system will play a significant role in shaping the trade systems as well as the Saudi domestic market.  This will not only enable the local market to be straightforward and responsible but will also expand the market share.
References
Abedini, J., & Péridy, N. (2008). The Greater Arab Free Trade Area (GAFTA): an estimation of its trade effects. Journal of Economic Integration, 848-872.
Al Rajhi, A., Al Salamah, A., Malik, M., & Wilson, R. (2012). Economic Development in Saudi Arabia. Routledge.
Al-Somali, S. A., Gholami, R., & Clegg, B. (2009). An investigation into the acceptance of online banking in Saudi Arabia. Technovation, 29(2), 130-141.
Ball, D., Geringer, M., Minor, M., & McNett, J. (2012). International business. McGraw-Hill Higher Education.
Goldstein, J. L., Rivers, D., & Tomz, M. (2007). Institutions in International Relations: Understanding the Effects of the GATT and the WTO on World Trade. International Organization, 61(1), 37-67.
Mohanty, S. K., Nandha, M., Turkistani, A. Q., & Alaitani, M. Y. (2011). Oil price movements and stock market returns: Evidence from Gulf Cooperation Council (GCC) countries. Global Finance Journal, 22(1), 42-55.
Reiche, D. (2010). Energy Policies of Gulf Cooperation Council (GCC) countries—possibilities and limitations of ecological modernization in rentier states. Energy Policy, 38(5), 2395-2403.
Rose, A. K. (2004). Do we really know that the WTO increases trade?. American Economic Review, 94(1), 98-114.
Saudi Ministry of Commerce and Investment (2012). Foreign trade. Retrieved from https://mci.gov.sa/Agencies/ForeignTrade/doc-agreements/Pages/default.aspx on November 15, 2018
WTO (2005). Kingdom of Saudi Arabia and the WTO. Retrieved from https://www.wto.org/english/thewto_e/countries_e/saudi_arabia_e.htm   on November 15, 2018
Zarrouk, J. (2000). The greater Arab free trade area: limits and possibilities. Catching up with the Competition: Trade Opportunities and Challenges for Arab Countries, 285-305.

Free Membership to World’s Largest Sample Bank

To View this & another 50000+ free samples. Please put
your valid email id.

E-mail

Yes, alert me for offers and important updates

Submit 

Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

UploadUnique Document

DocumentUnder Evaluation

Get Moneyinto Your Wallet

Total 6 pages

PAY 4 USD TO DOWNLOAD

*The content must not be available online or in our existing Database to qualify as
unique.

Cite This Work
To export a reference to this article please select a referencing stye below:

APA
MLA
Harvard
OSCOLA
Vancouver

My Assignment Help. (2021). MGT 615 International Trade Law. Retrieved from https://myassignmenthelp.com/free-samples/mgt615-international-trade-law/economic-activities.html.

“MGT 615 International Trade Law.” My Assignment Help, 2021, https://myassignmenthelp.com/free-samples/mgt615-international-trade-law/economic-activities.html.

My Assignment Help (2021) MGT 615 International Trade Law [Online]. Available from: https://myassignmenthelp.com/free-samples/mgt615-international-trade-law/economic-activities.html[Accessed 19 December 2021].

My Assignment Help. ‘MGT 615 International Trade Law’ (My Assignment Help, 2021) accessed 19 December 2021.

My Assignment Help. MGT 615 International Trade Law [Internet]. My Assignment Help. 2021 [cited 19 December 2021]. Available from: https://myassignmenthelp.com/free-samples/mgt615-international-trade-law/economic-activities.html.

×
.close{position: absolute;right: 5px;z-index: 999;opacity: 1;color: #ff8b00;}

×

Thank you for your interest
The respective sample has been mail to your register email id

×

CONGRATS!
$20 Credited
successfully in your wallet.
* $5 to be used on order value more than $50. Valid for
only 1
month.

Account created successfully!
We have sent login details on your registered email.

User:

Password:

Getting nightmare regarding pending chemistry assignment? Then it is high time you consider hiring chemistry assignment help service of MyAssigemnthelp.com. We at MyAssignmenthelp.com deliver quality subject specific assistance on more than 100+ subjects. For us, students’ need is foremost, and we work round the clock to offer science, humanities and commerce assignment help. Among Commerce wing, our one of the most popular services is capital budgeting assignment help. In science segment, we have gained popularity with biology assignment help.

Latest Business Law Samples

div#loaddata .card img {max-width: 100%;
}

BU1112 Business Law
Download :
0 | Pages :
6

Course Code: BU1112
University: James Cook University

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Answer:
Part A
Issue:
Whether Stella is considered as an employee of PRX?
Rule:
The main difference between employee and independent contractor is stated below:
Employee entered into contract of service, but contractor entered into contract for services.
Employer exercise control over the employee but no control was exercised by employer on contractor. It is considered as traditional test which was developed in Zuijs v Wirth Bros(Zuijs…
Read
More
Tags:
Australia South Lake Management health finance management  University of New South Wales 

BSBWHS605 Develop Implement And Maintain WHS Management Systems
Download :
0 | Pages :
15

Course Code: BSBWHS605
University: Swinburne University Of Technology

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Answers:
Work Health and Safety Management System (WHSMS) is a collection of plans, tools, activities and processes. List 3 of these plans, tools, activities or processes and explain what they are,
The means, nitty gritty beneath, can be utilized whether the arranging procedure is straightforward or complex. They are:
Evaluating the current word related to wellbeing and security status including the ‘administration framework’ Lussier, R. N…
Read
More
Tags:
Australia Brisbane Management Work Health and Safety Management System (WHSMS University of Brisbane MBA 

BUSN331 Business Law
Download :
0 | Pages :
3

Course Code: BUSN331
University: Centennial College

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Canada

Answers:
Introduction
In Alberta, the Residential Tenancies Act applies to all the people in this jurisdiction, who rent their space out (Alberta Queen’s Printer, 2016). Through this act, the rights and responsibilities of the landlords and tenants are brought forward (Landlord and Tenant, 2015).
Question 1
Before a tenant can move in the rented accommodation, the tenant and the landlord have to reach an agreement, with regards to the…
Read
More
Tags:
Australia Edmonton Humanities Management University of New South Wales Masters in Business Administration 

LA1040 Contract Law
Download :
0 | Pages :
11

Course Code: LA1040
University: University Of London

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: United Kingdom

Answer:
Introduction 
A contract is an agreement between the parties which is enforceable legally in the courts. There are several provisions of law which governs how the terms related to the contract would operate. A contract consists of a set of provisions which are known as contractual terms. The weightage of such terms are not equal as one term may have a more significant consequence as compared to the other in relation to their brea…
Read
More
Tags:
United Kingdom London Economics Management University of London 

TLAW202 Corporations Law
Download :
0 | Pages :
9

Course Code: TLAW202
University: Top Education Institute

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Answers:
1.
If any person wants to carry out his business in the form of a company, then, it is necessary that the registration or incorporation requirements of such country must be met. In Australia, the Corporation Act 2001 and the guidelines laid down by ASIC provides with the steps that must be accomplish in order to establish a corporate entity.  (Malbon & Bishop, 2006).
A company is of great significance as it is treated as a …
Read
More

Next

Need an essay written specifically to meet your requirements?

Choose skilled experts on your subject and get an original paper within your deadline

156 experts online

Your time is important. Let us write you an essay from scratch

Tips and Tricks from our Blog

PROJ6016 Employer Based Project

Free Samples PROJ6016 Employer Based Project .cms-body-content table{width:100%!important;} #subhidecontent{ position: relative; overflow-x: auto; width: 100%;} PROJ6016 Employer

Read More »

PPMP20009 Marking Rubric

Free Samples PPMP20009 Marking Rubric .cms-body-content table{width:100%!important;} #subhidecontent{ position: relative; overflow-x: auto; width: 100%;} PPMP20009 Marking Rubric

Read More »