World Issues Acronyms

1. World Issues Acronyms

2. North Atlantic Treaty Organization(NATO) • The North Atlantic Treaty Organization (NATO), also called the (North) Atlantic Alliance, is an intergovernmental military alliance based on the North Atlantic Treaty which was signed on 4 April 1949. The organization constitutes a system of collective defence whereby its member states agree to mutual defense in response to an attack by any external party. • The combined military spending of all NATO members constitutes over 70% of the world's defence spending. The United States alone accounts for 43% of the total military spending of the world[and the United Kingdom, France, Germany, and Italy account for a further 15%.

3. World Trade Organization (WTO) • The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The organization replaced the General Agreement on Tariffs and Trade (GATT). The organization deals with regulation of trade between participating countries; it provides a framework for negotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements which are signed by representatives of member governments and ratified by their parliaments. Most of the issues that the WTO focuses on derive from previous trade negotiations. • The WTO has 153 members,representing more than 97% of the world's population

4. International Monetary Fund (IMF) • The International Monetary Fund (IMF) is the intergovernmental organization that oversees the global financial system by following the macroeconomic policies of its member countries, in particular those with an impact on exchange rate and the balance of payments. Its objectives are to stabilize international exchange rates and facilitate development through the encouragement of liberalising economic policies in other countries as a condition of loans, debt relief, and aid. It also offers loans with varying levels of conditionality, mainly to poorer countries. The IMF’s relatively high influence in world affairs and development has drawn heavy criticism from some sources. • Countries contributed to a pool which could be borrowed from, on a temporary basis, by countries with payment imbalances. The IMF was important when it was first created because it helped the world stabilize the economic system. The IMF works to improve the economies of its member countries. • The IMF describes itself as “an organization of 195 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty.”

5. World Health Organization (WHO) • The World Health Organization (WHO) is a specialized agency of the United Nations that acts as a coordinating authority on international public health. The agency inherited the mandate and resources of its predecessor, the Health Organization, which was an agency of the League of Nations.

6. United Nations Children's Fund (UNICEF) • United Nations Children's Fund (UNICEF, original United Nations International Children's Emergency Fund) was created by the United Nations General Assembly to provide emergency food and healthcare to children in countries that had been devastated by World War II. In 1953, UNICEF became a permanent part of the United Nations System. UNICEF provides long-term humanitarian and developmental assistance to children and mothers in developing countries. It is one of the members of the UNDG and its Executive Committee. • UNICEF's programs emphasize developing community-level services to promote the health and well-being of children. • UNICEF relies on contributions from governments and private donors and UNICEF's total income for 2006 was $2,781,000,000. Governments contribute two thirds of the organization's resources; private groups and some 6 million individuals contribute the rest through the National Committees.

7. Food and Agriculture Organization of the United Nations (FAO) • The Food and Agriculture Organization of the United Nations (FAO) is a specialised agency of the United Nations that leads international efforts to defeat hunger. Serving both developed and developing countries, FAO acts as a neutral forum where all nations meet as equals to negotiate agreements and debate policy. • FAO is also a source of knowledge and information, and helps developing countries and countries in transition modernise and improve agriculture, forestry and fisheries practices, ensuring good nutrition and food security for all. • As of 8 August 2008, FAO has 191 members states along with the European Union and the Faroe Islands, which are associate members.

8. The Group of Eight (G8) • The Group of Eight (G8, and formerly the G6 or Group of Six) is a forum, created by France in 1975, for the governments of six major economies: France, Germany, Italy, Japan, the United Kingdom, and the United States. In 1976, Canada joined the group (thus creating the G7). In 1997, the group added Russia, thus becoming the G8. In addition, the European Union is represented within the G8, but cannot host or chair. • "G8" can refer to the member states or to the annual summit meeting of the G8 heads of government. The former term, G6, is now frequently applied to the six most populous countries within the European Union. G8 ministers also meet throughout the year, such as the G7/8 finance ministers (who meet four times a year), G8 foreign ministers, or G8 environment ministers. • Each calendar year, the responsibility of hosting the G8 rotates through the member states in the following order: France, United States, United Kingdom, Russia, Germany, Japan, Italy, and Canada. The holder of the presidency sets the agenda, hosts the summit for that year, and determines which ministerial meetings will take place. • Lately, both France and the United Kingdom have expressed a desire to expand the group to include five developing countries, referred to as the Outreach Five (O5) or the Plus Five: Brazil, People's Republic of China, India, Mexico, and South Africa. These countries have participated as guests in previous meetings, which are sometimes called G8+5.

9. Non-Governmental Organization (NGO) • A non-governmental organization (NGO) is a legally constituted organization created by natural or legal persons that operates independently from any government. The term is usually used by governments to refer to entities that have no government status. In the cases in which NGOs are funded totally or partially by governments, the NGO maintains its non-governmental status by excluding government representatives from membership in the organization. The term is usually applied only to organizations that pursue some wider social aim that has political aspects, but that are not overtly political organizations such as political parties. Unlike the term "intergovernmental organization", the term "non-governmental organization" has no generally agreed legal definition. In many jurisdictions, these types of organization are called "civil society organizations" or referred to by other names. • The number of internationally operating NGOs is estimated at 40,000. National numbers are even higher: Russia has 277,000 NGOs; India is estimated to have around 3.3 million NGOs in year 2009 that is one NGO for less than 400 Indians, and many times the number of primary schools and primary health centres in India.

10. North American Free Trade Agreement (NAFTA) • The North American Free Trade Agreement (NAFTA) is an agreement signed by the governments of Canada, Mexico, and the United States, creating a trilateral trade bloc in North America. The agreement came into force on January 1, 1994. It superseded the Canada – United States Free Trade Agreement. In terms of combined GDP of its members, as of 2010 the trade bloc is the largest in the world. • NAFTA has two supplements, the North American Agreement on Environmental Cooperation (NAAEC) and the North American Agreement on Labor Cooperation (NAALC).

11. Free Trade Area of the Americas (FTAA) • The Free Trade Area of the Americas (FTAA) was a proposed agreement to eliminate or reduce the trade barriers among all countries in the Americas but Cuba. • In the last round of negotiations, trade ministers from 34 countries met in Miami, Florida, United States, in November 2003 to discuss the proposal. The proposed agreement was an extension of the North American Free Trade Agreement (NAFTA) between Canada, Mexico and the United States. Opposing the proposal were Cuba, Venezuela, Bolivia, Ecuador, Dominica, Nicaragua and Honduras (all of which entered the Bolivarian Alternative for the Americas in response), and Argentina, Chile and Brazil. • Discussions have faltered over similar points as the Doha Development Round of World Trade Organization (WTO) talks; developed nations seek expanded trade in services and increased intellectual property rights, while less developed nations seek an end to agricultural subsidies and free trade in agricultural goods. Similar to the WTO talks, Brazil has taken a leadership role among the less developed nations, while the United States has taken a similar role for the developed nations.

12. General Agreement on Tariffs and Trade (GATT) • The General Agreement on Tariffs and Trade (GATT) was negotiated during the UN Conference on Trade and Employment and was the outcome of the failure of negotiating governments to create the International Trade Organization (ITO). GATT was signed in 1947 and lasted until 1993, when it was replaced by the World Trade Organization in 1995. The original GATT text (GATT 1947) is still in effect under the WTO framework, subject to the modifications of GATT 1994.

13. Canadian International Development Agency (CIDA) • The Canadian International Development Agency (CIDA) was formed in 1968 by the Canadian government and administers foreign aid programs in developing countries, and operates in partnership with other Canadian organizations in the public and private sectors as well as other international organizations. • Its mandate is to "support sustainable development in developing countries in order to reduce poverty and contribute to a more secure, equitable, and prosperous world.”

14. World Food Programme (WFP) • The World Food Programme (WFP) is the food aid branch of the United Nations, and the world's largest humanitarian organization addressing hunger worldwide.WFP provides food, on average, to 90 million people per year, 58 million of whom are children. From its headquarters in Rome and more than 80 country offices around the world, WFP works to help people who are unable to produce or obtain enough food for themselves and their families.

15. United Nations (UN) • The United Nations (UN) is an international organization whose stated aims are facilitating cooperation in international law, international security, economic development, social progress, human rights, and achievement of world peace. The UN was founded in 1945 after World War II to replace the League of Nations, to stop wars between countries, and to provide a platform for dialogue. It contains multiple subsidiary organizations to carry out its missions. • There are currently 192 member states, including every internationally recognised sovereign state in the world but the Vatican City. From its offices around the world, the UN and its specialized agencies decide on substantive and administrative issues in regular meetings held throughout the year. • The organization has six principal organs: the General Assembly (the main deliberative assembly); the Security Council (for deciding certain resolutions for peace and security); the Economic and Social Council (for assisting in promoting international economic and social cooperation and development); the Secretariat (for providing studies, information, and facilities needed by the UN); the International Court of Justice (the primary judicial organ); and the United Nations Trusteeship Council (which is currently inactive). Other prominent UN System agencies include the World Health Organization (WHO), the World Food Programme (WFP) and United Nations Children's Fund (UNICEF). • The organization is financed from assessed and voluntary contributions from its member states, and has six official languages: Arabic, Chinese, English, French, Russian, and Spanish.

16. Organization of the Petroleum Exporting Countries (OPEC) • Organization of the Petroleum Exporting Countries (OPEC) is an intergovernmental organization of twelve developing countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. Indonesia withdrew in 2008 after it became a net importer of oil, but stated it would likely return if it became a net exporter again. • According to its statutes, one of the principal goals is the determination of the best means for safeguarding the organization's interests, individually and collectively. It also pursues ways and means of ensuring the stabilization of prices in international oil markets with a view to eliminating harmful and unnecessary fluctuations; giving due regard at all times to the interests of the producing nations and to the necessity of securing a steady income to the producing countries; an efficient and regular supply of petroleum to consuming nations, and a fair return on their capital to those investing in the petroleum industry.

17. Organization of the Petroleum Exporting Countries (OPEC) • OPEC's influence on the market has been widely criticized, since it became effective in determining production and prices. Arab members of OPEC alarmed the developed world when they used the “oil weapon” during the Yom Kippur War by implementing oil embargoes and initiating the 1973 oil crisis. Although largely political explanations for the timing and extent of the OPEC price increases are also valid, from OPEC’s point of view, these changes were triggered largely by previous unilateral changes in the world financial system and the ensuing period of high inflation in both the developed and developing world. This explanation encompasses OPEC actions both before and after the outbreak of hostilities in October 1973, and concludes that “OPEC countries were only 'staying even' by dramatically raising the dollar price of oil.” • OPEC's ability to control the price of oil has diminished somewhat since then, due to the subsequent discovery and development of large oil reserves in Alaska, the North Sea, Canada, the Gulf of Mexico, the opening up of Russia, and market modernization. • As of November 2010, OPEC members collectively hold 79% of world crude oil reserves and 44% of the world’s crude oil production, affording them considerable control over the global market. The next largest group of producers, members of the OECD and the Post-Soviet states produced only 23.8% and 14.8%, respectively, of the world's total oil production. As early as 2003, concerns that OPEC members had little excess pumping capacity sparked speculation that their influence on crude oil prices would begin to slip.

18. European Union (EU) • The European Union (EU) is an economic and political union of 27 member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community (ECSC) and the European Economic Community (EEC) formed by six countries in 1958. • The EU operates through a hybrid system of supranational independent institutions and intergovernmental made decisions negotiated by the member states. Important institutions of the EU include the European Commission, the Council of the European Union, the European Council, the Court of Justice of the European Union, and the European Central Bank. The European Parliament is elected every five years by EU citizens. • The EU has developed a single market through a standardised system of laws which apply in all member states including the abolition of passport controls within certain aeas. It ensures the free movement of people, goods, services, and capital, enacts legislation in justice and home affairs, and maintains common policies on trade, agriculture, fisheries and regional development. A monetary union, the euro zone, was established in 1999 and is currently composed of seventeen member states. • With a total population of over 500 million inhabitants, in 2010 the EU generated an estimated 26% (US$16.282 trillion) of the global economy, or 20% (US$15.170 trillion) when adjusted in terms of purchasing power parity.

19. European Union (EU) • Anthem of the European Union: Ode to Joy http://en.wikipedia.org/w/extensions/OggHandler/play.png

20. Multinational Corporation (MNC) or Enterprise (MNE), and Transnational Corporation (TNC) • A multinational corporation (MNC) or enterprise (MNE), is a corporation or an enterprise that manages production or delivers services in more than one country. It can also be referred to as an international corporation. The International Labour Organization (ILO) has defined an MNC as a corporation that has its management headquarters in one country, known as the home country, and operates in several other countries, known as host countries. • The Dutch East India Company was the first multinational corporation in the world and the first company to issue stock. It was also arguably the world's first mega-corporation, possessing quasi-governmental powers, including the ability to wage war, negotiate treaties, coin money, and establish colonies. • Some multinational corporations are very big, with budgets that exceed some nations' GDPs. Multinational corporations can have a powerful influence in local economies, and even the world economy, and play an important role in international relations and globalization. • A Transnational Corporation (TNC) differs from a traditional MNC in that it does not identify itself with one national home. Whilst traditional MNCs are national companies with foreign subsidiaries, TNCs spread out their operations in many countries sustaining high levels of local responsiveness. An example of a TNC is Nestlé who employ senior executives from many countries and try to make decisions from a global perspective rather than from one centralized headquarters. However, the terms TNC and MNC are often used interchangeably.

21. Organisation for European Economic Co-operation (OEEC) • The Organisation for Economic Co-operation and Development (OECD) is an international economic organization of 34 countries founded in 1961 to stimulate economic progress and world trade. It defines itself as a forum of countries committed to democracy and the market economy, providing a platform to compare policy experiences, seeking answers to common problems, identifying good practices, and coordinating domestic and international policies of its members. • The OECD originated in 1948 as the Organisation for European Economic Co-operation (OEEC), to help reconstruct Europe after World War II. Later, its membership was extended to non-European states. Most OECD members are high-income economies with a high Human Development Index (HDI) and are regarded as developed countries.

22. Asia-Pacific Economic Cooperation (APEC) • Asia-Pacific Economic Cooperation (APEC) is a forum for 21 Pacific Rim countries (styled "Member Economies") that seeks to promote free trade and economic cooperation throughout the Asia-Pacific region. Established in 1989 in response to the growing interdependence of Asia-Pacific economies and the advent of regional economic blocs (such as the European Union and the North American Free Trade Area) in other parts of the world, APEC works to raise living standards and education levels through sustainable economic growth and to foster a sense of community and an appreciation of shared interests among Asia-Pacific countries. • Members account for approximately 40% of the world's population, approximately 54% of world GDP and about 44% of world trade.

23. African Union (AU) • The African Union (AU in English, and UA in its other official languages) is a union consisting of 53 African states. The only all-African state not in the AU is Morocco. Established on 9 July 2002,the AU was formed as a successor to the Organisation of African Unity (OAU). The most important decisions of the AU are made by the Assembly of the African Union, a semi-annual meeting of the heads of state and government of its member states.