Friday, August 28, 2009
Role of the European Economic Community (EEC)
The EC is the largest textile market in the world. It has negotiated bilateral trade agreements with all South Asian and Latin American countries and other low wage textile exporting countries under the provisions of the GATT Multi-fibre Arrangements (MFA). When the single market becomes full operational, exports of clothing and textile will be boosted. The EC has agreed to a gradual phasing out of the MFA in three stages under the GATT Uraguay Round talks. Until then the bilateral agreements would continue to be extended for the benefit of developing countries.
The EC helps developing countries in developing telecommunication, science and technology, energy and human resource development. It carries on joint research projects in the developing countries which include biotechnology, health and food technology. It aids such countries in trade promotion, stabilisation of exports earnings and encourages regional integration among them. The EEC funded development projects are mostly in rural areas. They include rural electrification irrigation, primary education and community development. The EC has been playing a major role in the international drug control. It launched a special programme to curb drug abuse in 1987 with emphasis on backing the efforts of developing countries to reduce demand for and production of narcotics.The European Community launched in 1958 the EC Investment Partners (EC IP) in order to boost economic development in
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