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Various International Commodity Agreements

The current pressure that favours agreements. Despite the serious drawbacks, the number of international commodity agreements has tended to increase and there is good reason to expect this trend to continue. On the one hand, the United States, through a series of moderate measures, has moved from doctrinal opposition to these agreements to one in which official policy, as President Kennedy says, “is poised to cooperate on a case-by-case review of commodity market problems.” Such agreements tend to be strongly favoured by less developed countries to “stabilize” (i.e. increase) the currencies they obtain from their main exports. In Europe, international market-sharing agreements have been actively supported by the French authorities for more than a decade. The Federal Republic of Germany, the main importer of agricultural raw materials in the European Economic Community, supports the agreements as instruments for maintaining a place for foreign suppliers in the common market. For similar reasons, an agreement on cereals also received some scientific support (Coppock 1963). In addition, the United Kingdom, which until recently relied on a policy of cheap food imports and a programme of direct payments to its domestic agricultural producers, has begun to conclude a series of agreements with major foreign suppliers of cereals and meat in order to reduce the budgetary burden resulting from a combination of direct payments and unlimited domestic production. and unlimited imports. International commodity agreements significantly draw all external suppliers to short-term benefits and are willing to ignore longer-term disadvantages by securing opportunities on the basis of quotas. The International Tropical Woods Agreement (ITTA) is often referred to as a “hybrid agreement” because it combines a traditional trade agreement on raw materials with sustainable tropical forest management objectives.

ITTA has established the International Tropical Timber Organization (ITTO), a 59-member intergovernmental organization, which together represents about 80 percent of the world`s tropical forests and 90% of the annual tropical timber trade. ITTO promotes market transparency through the collection, analysis and dissemination of data on the production and trade of tropical timber; supports the development, funding and implementation of projects and other measures to strengthen the sustainable management and exploitation capacity of tropical forests; and facilitates intergovernmental consultation and international cooperation on trade and exploitation of tropical timber and sustainable management of its resource base. The USTR cites U.S. participation in two trade agreements on raw materials: the International Tropical Woods Agreement and the International Coffee Agreement (ICA). These two agreements form intergovernmental organizations with boards of directors. Historically, U.S. policy on international commodity agreements has been marked by some ambivalence. Until recently, it has only participated in agreements that are of interest to the United States, particularly the international wheat agreement.

Even in the case of sugar (where the United States remains a net importer), it has acted more in a producer than among consumers; Too large a gap between domestic and foreign prices would embarrass the continuation of the national sugar control system. From time to time, the United States has co-ordded the idea of a lead and zinc agreement to end an existing system of unilaterally imposed import quotas, which has caused great irritation in trade relations with Mexico, Peru, Australia and Canada.