OPEC

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OPEC

• Organization of Petroleum Exporting Countries
• Cartel that sets oil prices and supply
• Formed to resist European and American companies
• Hold 80 of the worlds oil reserves
• Iran, Iraq, Kuwait, Qatar, Saudi Arabia, United
  Arab Emirates, Libya, Nigeria, Venezuela,
  Algeria, Ecuador, Angola

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Founding of OPEC

• OPECs 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

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• 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

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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

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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

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• 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.

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The European Union
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• Cyprus
• Malta
• Romania
• Bulgaria
• United Kingdom
• Latvia
• Lithuania
• Estonia
• Finland

• Austria
• Germany
• France
• Belgium
• Netherlands
• Italy
• Luxembourg
• Denmark
• Sweden

• Portugal
• Ireland
• Greece
• Spain
• Czech Republic
• Slovakia
• Poland
• Hungary
• Slovenia

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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

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ASEANS 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

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NAFTA

• On January 1, 1994, the North American Free Trade
  Agreement between the United States, Canada, and
  Mexico (NAFTA) entered into force.
• Created the worlds 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

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NAFTAS 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