A Term Paper

ON Analysis of Global Institutions

A Term Paper On Analysis of Global Institutions

Course Code: BUS-303 Course Title: International Business

Submitted By: NAME ID K.M.Zobaed Iqbal MD.Khaled Saifullah Lecturer in Management. MD.Sarifuzzaman Enamur Rahman Shahinoor Hoque Jabun Nahar Pieya 08093101128 08093101132 08093101106 08093101096 08093101095 08093101101

Submitted To: Sahadat Hossain

Bangladesh University of Business & Technology (BUBT)

Dhaka Commerce College Road, Mirpur, Dhaka-1216

Date of Submission : 5th December 2012

5th January 2012

Sahadat Hossain Lecturer in Management Department of HRM Bangladesh University of Business and Technology (BUBT) Mirpur-2, Dhaka-1216. Subject: Submission of Term paper

Dear Sir, With due respect, we would like to inform you that, this is the Term Paper which was assigned to us. This Term Paper is prepared as titled Analysis of global institutions In this Term Paper, we have tried our best to provide all information as per requirement. We are confident that this Term Paper contains all the specific requirements. But because of time, cost constraints, it is evident that it may contain some minor mistakes for which we feel sorry from core of our heart. If any assistance is required about the interpretation of this Term Paper, we will always be available. Thanking you for your time and kind considerations.

On the behalf of group K.M.Zobaed Iqbal

Signature;

ACKNOWLEDGEMENT

By the grace of Almighty Allah, the most benevolent merciful, we have been successfully to complete this report. Then we are grateful to my adorable parents who had bring me in this world and given me the opportunity to study and my parents like course instructor Sahadat Hossain who have given better direction to complete this Report. We do not claim that this report is original in presentation. We have collected materials from different sources. We greatly acknowledge all suggestions received to enhance further the value of this report. The suggestion has been incorporated whenever possible. We are trying to give our best efforts notwithstanding small errors do creep into the project. We are ever gratefully to our followers for drawing our attention to such, so that they may squash. We are extremely grateful to our honorable teacher Sahadat Hossain, Lecturer in Management Bangladesh University of Business & Technology,Who constantly took keen interest in boosting our morale and in spite of his busy schedule. It is our pleasant duty to put on record our sincere thanks to many of our friends for their occasional helps and encouragements in different stages of writing the manuscript. While every effort has been made to ensure accuracy, it cannot be claimed that the report is error-free. In case of any confusion or doubt on any aspects of this report, we may contract in any time.

List of Table & Graph

Numb er 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. WTO WB IMF UN IDB ADB SAARC SAFTA EU ASEAN BIMSTEC World Trade Organization World Bank International Monetary Fund United Nation Islamic development Bank Asian Development Bank South Asian Association for Regional Cooperation South Asian Free Trade Area European Union Association of Southeast Asian Nations Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation 12. 13. OPEC NAFTA Organization of the Petroleum Exporting Countries North American Free Trade Agreement Institution name Acronym

Table o f Contents

SL. No.

Sub No.

Title / Particulars Latter of Transmittal Acknowledgement Executive Summary List of Acronym

Page Number iii iv v vi

Part-1

1.0
1.1 1.2 1.3 1.4 1.5

Introduction
Background Objectives Methodology. Scope of the report. Limitations. Global Institutions WTO (World Trade Organization) WB (World Bank) IMF (International Monetary Fund) UN (United Nation) IDB (Islamic Development Bank) ADB (Asian Development Bank) SAARC (South Asian Association for Regional Cooperation) SAFTA (South Asian Free Trade Area) EU (European Union) ASEAN (Association of Southeast Asian Nations) (BIMSTEC) Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation OPEC (Organization of the Petroleum Exporting Countries) NAFTA (North American Free Trade Agreement) Finding Analysis Conclusion Recommendation Reference 3-4 5 6-7 7-8 8-9 9-10 10-11 11-12 12-13 13-14 15 16-17 17-18 19-20 21 21-22 23 1 1 1-2 2 2

Part-2

2.0
2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9 2.10 2.11 2.12 2.13

Part- 3 Part- 4

3.1 4.1 4.2

Part- 5

5.1

EXECUTIVE SUMMARY

Knowledge and learning become perfect when it is associated with theory and practice. Theoretical knowledge gets its perfection with practical application. As our educational system predominantly text based, here, students can train and prepare themselves for the job market In today's world only academic education does not make a student perfect to become competitive with the outside world. Practical work is highly needed to gain idea, knowledge and experience from all over the world. Bangladesh University of Business and Technology, One of the reputed business schools in Bangladesh, has designed the curriculum of the BBA course such a way that the international standard graduates will be produced. For the partial fulfillment of BBA program, our faculty of Management assigned us to write a term paper on Analysis of Global Institution. We have collected information from the internet and we have tried to learn about those international

institution as well as those activities. We wish after completing BBA program we will able to use those knowledge in business fields.

Part 1 1.0 Introduction

1.1 Background: Bangladesh University of Business and Technology, One of the reputed business schools in Bangladesh, has designed the curriculum of the BBA course such a way that the international standard graduates will be produced. For the partial fulfillment of BBA program, our faculty of Management assigned us to write a report on Analyze of Global Institution. This report is an international related report prepared as a requirement for the completion of the International Business a course that is included in BBA program of Bangladesh University of Business and Technology (BUBT). The primary goal of this report is to provide minimum knowledge about global institution to the student. 1.2 Objectives

To gather knowledge of international institutions. To provide current activity of global institutions. To know establishment year of global institutions. To learn working system of global institutions.

1.3 Methodology: 1.3.1. Type of Research: This Proposal is a descriptive type of research in nature and it administered by collecting both primary and secondary data. It has tried to use both the primary and secondary sources of collecting information and some are to make the report presentable with as less abstraction as possible. 1.3.2. Sources of data: In order to attain the objective of the study in this report all-necessary information are prepared by collecting only from secondary sources of data because primary source is not available and those are:

-11.3.2.1. Primary sources: Generally, primary data is collected from institution directly. All institution is situated outside of our country. So we could not collect information from primary sources. 1.3.2.2. Secondary sources: Secondary data collected to make the report concrete. These data has been collected from web sites and finally we have able to write this term paper. 1.4 Scope of the report: The scope of the term paper is confined to International institution. The term paper is the consisted analysis of several international institutions. 1.5 Limitations:

The study is not free from some practical limitations. Following limitations have faced during the study and the time of working & data collection:

Time and budget constraints for this kind of term paper. Lack of instrumental facilities to get proper information. Only simple statistical tools were used for data analysis. Due to the confidentiality concern, much detailed information could not retrieve. Lack of Records, Sufficient books, unavailable information in website. These
constraints narrowed the scope of accurate analysis.

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Part 2 2. Global Institution 2.1 WTO (World Trade Organization):

Short history: The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The organization officially commenced on January 1, 1995 under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. 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, especially from the Uruguay Round (1986 1994). The organization is currently endeavoring to persist with a trade negotiation called the Doha Development Agenda (or Doha Round), which was launched in 2001 to enhance equitable participation of poorer countries which represent a majority of the world's population. Objective: The World Trade Organization the WTO is the international organization whose primary purpose is to open trade for the benefit of all. The WTO provides a forum for negotiating agreements aimed at reducing obstacles to international trade and ensuring a level playing field for all, thus contributing to economic growth and development. Number of members: The current number of members of WTO is 157.New Members Montenegro, Russia and Samoa has joined on 16 December 2011.

-3Current activities: At the 8th WTO Ministerial Conference of 15-17 December 2011, Australia announced it will give three donations to WTO development programmes. The Appellate Body, on 21 December 2011, issued its reports in the case Philippines Taxes on Distilled Spirits. At the meeting of the Dispute Settlement Body on 19 December 2011, the EU announced it had taken all appropriate steps to implement the Airbus rulings

Structure: The structure of WTO is given below:

42.2 WB (World Bank):

Short History: The World Bank is one of five institutions created at the Bretton Woods Conference in 1944. The International Monetary Fund, a related institution, is the second. Delegates from many countries attended the Bretton Woods Conference. The most powerful countries in attendance were the United States and United Kingdom, which dominated negotiations. Although both are based in Washington, D.C., the World Bank is, by custom, headed by an American, while the IMF is led by a European. Objective:

The main objectives behind setting up this international organisation were to aid the task of reconstruction of the war-affected economies of Europe and assist in the development of the underdeveloped nations of the world. Number of members: The number of members under each institution of world bank are given below: The International Bank for ReconstrSuction and Development (IBRD) 187, The International Development Association (IDA) 171, The International Finance Corporation (IFC) 183, The Multilateral Investment Guarantee Agency (MIGA) 175, The International Centre for Settlement of Investment Disputes (ICSID) 147. Current activities: The World Banks Board of Executive Directors approved an International Bank for Reconstruction and Development (IBRD) loan worth 400 million for Romania on December 19 2011. The World Bank Group (WBG) will continue to support Pakistans poverty reduction and development agenda with an expected assistance of up to $5.5 Structure: Technically the World Bank is part of the United Nations system, but its governance structure is different: each institution in the World Bank Group is owned by its member governments, which subscribe to its basic share capital, with votes proportional to shareholding. Membership gives certain voting rights that are the same for all countries but there are also additional votes that depend on financial contributions to the organization. The President of the World Bank is nominated by the President of the United States and elected by the Bank's Board of Governors. -5-

2.3 IMF (International Monetary Fund):

Short History: As the Second World War ends, the job of rebuilding national economies begins. The IMF is charged with overseeing the international monetary system to ensure exchange rate stability and encouraging members to eliminate exchange restrictions. The International Monetary Fund was conceived on July 22, 1944 during the United Nations Monetary and Financial Conference. The IMFs influence in the global economy steadily

increased as it accumulated more members. The expansion of the IMFs membership, together with the changes in the world economy, Objective: The IMF's primary objective is to ensure the stability of the international monetary systemthe system of exchange rates and international payments that enables countries (and their citizens) to transact with one other. This system is essential for promoting sustainable economic growth, increasing living standards, and reducing poverty. Number of members: The IMF has 187 member countries. Current activities: Recent economic developments have been encouraging in sub-Saharan Africa (SSA). Growth was more resilient than in most other regions during the recent global economic downturn, with real GDP increasing by more than 3 percent.

-6Structure: The diagram below provides a stylized view of the IMF's current governance structure:

The Board of Governors is the highest decision-making body of the IMF. The Boards of Governors of the IMF and the World Bank Group normally meet once a year, during the IMF-World Bank Spring and Annual Meetings,

2.4 UN (United Nation):

Short History: The United Nations is an international organization founded in 1945 after the Second World War by 51 countries committed to maintaining international peace and security, developing friendly relations among nations and promoting social progress, better living standards and human rights. Objective: The main objectives of UN are provide Peacekeeping and security to members countries, ensure Human rights and humanitarian assistance, Social and economic development .

-7Number of members: There are currently 193 United Nations member states.

Current activities: United Nations programme of technical cooperation - promotion of economic and social development for the advancement of all peoples. Structure: The Charter established six principal organs of the United Nations: the General Assembly, the Security Council, the Economic and Social Council, the Trusteeship Council, the International Court of Justice, and the Secretariat. The United Nations family, however, is much larger, encompassing 15 agencies and several programmes and bodies.

2.5 IDB (Islamic Development Bank:

Short history: The Islamic Development Bank is an international financial institution established in pursuance of the Declaration of Intent issued by the Conference of Finance Ministers of Muslim Countries held in Jeddah in Dhul Q'adah 1393H, corresponding to December 1973. The Inaugural Meeting of the Board of Governors took place in Rajab 1395H, corresponding to July 1975, and the Bank was formally opened on 15 Shawwal 1395H corresponding to 20 October 1975. Objective: The objective of the Bank is to foster the economic development and social progress of member countries and Muslim communities individually as well as jointly in accordance with the principles of Shari'ah i.e., Islamic Law. Number of members: The present membership of the Bank consists of 56 countries.

-8Current activities:

A review of the IDB's current portfolio of project activities involving some type of climatechange benefit. Structure: The Board of Executive Directors (BED) is the body responsible for the direction of the general operations and policies of the Bank and, for this purpose, shall, in addition to the power assigned to it expressly by the Articles of Agreement, exercise all powers delegated to it by the Board of Governors. In the current term, the BED is composed of eighteen members : Nine Executive Directors appointed by their countries, which are the main shareholders, while nine others are elected by the Governors of other countries. The term of office in the BED is a renewable period of three years.

2.6 ADB (Asian Development Bank):

Short history: Established in 1966, we are a major source of development financing for the Asia and Pacific region. With more than $17.5 billion in approved financing, and 2,800 employees from 59 countries, ADB - in partnership with member governments, independent specialists and other financial institutions - is focused on delivering projects that create economic and development impact. Objective: The Asian Development Bank aims for an Asia and Pacific free from poverty. Approximately 1.8 billion people in the region are poor and unable to access essential goods, services, assets and opportunities to which every human is entitled. Number of members: ADB has grown to encompass 67 members. Current activities: ADB has recently engaged in an increasing amount of microfinance -9Structure:

Article 28 of the ADB Charter vests all the powers of the institution in the Board of Governors, which in turn delegates these powers to the Board of Directors, except for those powers reserved for the Board of Governors in the Charter. The structure of ADB s board of governors are given below: Cesar V. Purisima (Chair) Gudrun Kopp (Vice Chair) Barshaman Pun (Vice Chair)

2.7 SAARC (South Asian Association for Regional Cooperation):

Short history: SAARC was established to promote regional cooperation and integration to improve the well being and quality of life of the people of South Asia. This Association was founded on the firm conviction that South Asia shares a common future and destiny shaped by our close historical, cultural and geographical ties. Indeed, since its inception, SAARC has engendered mutually beneficial cooperation in many diverse areas and promoted greater understanding, goodwill and cooperation among the people and Governments of South Asia. It has served as an important platform to build mutual trust, confidence and sustained interaction and engagement to address and overcome the common challenges faced by the region and seize opportunities Objective: The objectives are to promote quality of life and economic growth in the region, strengthens collective self-reliance, to encourage active collaboration in economic, technical and scientific fields, aims at increasing people-to-people contact and sharing of information among the SAARC members. -10Number of members:

Current members of SAARC are 8 countries. Current activities: Integration of Capital Markets in SAARC Region. Structure: SAARC has established a permanent secretariat in Kathmandu (Nepal) and it is functioning since 1987. The head of the State of the host country acts as Chairman till the next summit when the chairmanship is handed over to the next host country.

2.8SAFTA (South Asian Free Trade Area):

Short history: The South Asian Free Trade Area or SAFTA is a pact signed in 6 January 2004 that would gradually eliminate most tariffs and other trade barriers on products and services passing between the Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, Afghanistan and Sri Lanka. The pact would effectively create a free-trade bloc among the seven countries of South Asia. Objective: SAFTA requires the developing countries in South Asia (India, Pakistan and Sri Lanka) to bring their duties down to 20 percent in the first phase of the two year period ending in 2007. In the final five year phase ending 2012, the 20 percent duty will be reduced to zero in a series of annual cuts. Number of members: 8 members (Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, Afghanistan and Sri Lanka)

-11Current activities:

SAFTA organizes a wide range of student activities as well as a programme of professional development for teachers. Structure: SAFTA divides the eight member countries into least developing countries and non-least developing countries. Member countries accrue benefits and obligations depending on their categorization as either a least developing country or non-least developing country. Least developing countries have longer time periods to lower their own tariffs while gaining faster access to other countries lower tariffs.

2.9EU (European Union):

Short history: The European Union is a unique economic and political partnership between 27 European countries. It has delivered half a century of peace, stability, and prosperity, helped raise living standards, launched a single European currency, and is progressively building a single Europe-wide market in which people, goods, services, and capital move among Member States as freely as within one country. Objective: European Union works toward and oversees the economic and political integration of these states. The European Union consists of the European Community (q.v.; formerly European Economic Community) and a framework for unified action by member countries in security and foreign policy and for cooperation in police and justice matters. -12-

Within the Union, goods, services, capital and people move freely. The monetary union has advanced to its third stage, and in 1999, a single currency, euro, is going to be introduced. Negotiations with the five new member canditates (Hungary, Poland, Czech Republic, Slovenia, Estonia) start in 1998.

Number of members: 27 members (Germany, Italy, France, Netherlands, Belgium, Luxembourg, Ireland, UK, Denmark, Spain, Portugal, Greece, Austria, Sweden, Finland, Estonia, Latvia, Lithuania, Poland, Czec Rep, Slovakia, Slovenia, Malta, Cyprus, Hungary, Romania and Bulgaria.) Current activities: Current work being done by the EU Platform for Action on Diet, Physical Activity and Health. Structure: The powers and responsibilities of all of these institutions are laid down in the Treaties, which are the foundation of everything the EU does. They also lay down the rules and procedures that the EU institutions must follow. The Treaties are agreed by the presidents and/or prime ministers of all the EU countries, and ratified by their parliaments.

2.10 ASEAN (Association of Southeast Asian Nations):

Short history:

The Association of Southeast Asian Nations, or ASEAN, was established on 8 August 1967 in Bangkok, Thailand, with the signing of the ASEAN Declaration (Bangkok Declaration) by the Founding Fathers of ASEAN, namely Indonesia, Malaysia, Philippines, Singapore and Thailand. Brunei Darussalam then joined on 7 January 1984, Viet Nam on 28 July 1995, Lao PDR and Myanmar on 23 July 1997, and Cambodia on 30 April 1999, making up what is today the ten Member States of ASEAN

-13Objective:

As set out in the ASEAN objectives are to accelerate the economic growth, social progress and cultural development, to promote regional peace and stability, to promote active collaboration and mutual assistance, to provide assistance to each other in the form of training and research facilities to collaborate more effectively for the greater utilization of their agriculture and industries, to promote Southeast Asian studies, to maintain close and beneficial cooperation with existing international and regional organizations. Number of members: The members of ASEAN are 10 countries. Current activities: The current objective is to share the knowledge and views among ASEAN Member States ... with the FPM in some years to exchange views and explore current problems Structure: The structure of ASEAN is given below:

-142.11 (BIMSTEC) Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation: Short history:

On 6 June 1997, a new sub-regional grouping was formed in Bangkok and given the name BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation). Myanmar attended the inaugural June Meeting as an observer and joined the organization as a full member at a Special Ministerial Meeting held in Bangkok on 22 December 1997, upon which the name of the grouping was changed to BIMST-EC. Nepal was granted observer status by the second Ministerial Meeting in Dhaka in December 1998. Subsequently, full membership has been granted to Nepal and Bhutan in 2003. Objective: According to the Bangkok Declaration on the Establishment of BIST-EC, the aims and purposes of BIST-EC/BIMST-EC are to create an enabling environment for rapid economic development, accelerate social progress in the sub-region, promote active collaboration and mutual assistance on matters of common interest, provide assistance to each other in the form of training and research facilities, cooperate more effectively in joint efforts that are supportive of, and complementary to national development plans of member states. BIMSTEC was initiated with the goal to combine the 'Look West' policy of Thailand and ASEAN with the 'Look East' policy of India and South Asia. So it could be explained that BIMSTEC is a link between ASEAN and SARRC. Number of members: Seven members (Bangladesh, India, Thailand, Sri Lanka, Myanmar, Nepal and Bhutan) Current activities: The 6 current activities are Trade and Investment (led by Bangladesh), Technology (led by Sri Lanka), Transport and Communication (led by India), Energy (led by Myanmar), Tourism (led by India), Agriculture and Fisheries (led by Thailand).

-15Structure: BIMSTEC uses the alphabetical order for the rotation of the Chairmanship. The Chairmanship of BIMSTEC has been taken in rotation commencing with Bangladesh

(1997 - 1999), India (2000) Myanmar (2001-2002), Sri Lanka (2002 - 2003), Thailand (2003 2005), Bangladesh (2005-2006). Bhutan asked for a skip and India took over the Chairmanship in 2006. India held the Chairmanship of BIMSTEC from 2006 to 2009 until Myanmar assumed the Chair and hosted the 12th and 13th Ministerial Meetings in December 2009 and January 2011 respectively. Myanmar is the current Chair of the BIMSTEC.

2.12 OPEC (Organization of the Petroleum Exporting Countries):

Short history: OPEC is a permanent intergovernmental organization of 12 oil-exporting developing nations that coordinates and unifies the petroleum policies of its Member Countries. The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization, created at the Baghdad Conference on September 10 14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The five Founding Members were later joined by nine other Members: Qatar (1961); Indonesia (1962) suspended its membership from January 2009; Libya (1962); United Arab Emirates (1967); Algeria (1969); Nigeria (1971); Ecuador (1973) suspended its membership from December 1992-October 2007; Angola (2007) and Gabon (19751994). OPEC had its headquarters in Geneva, Switzerland, in the first five years of its existence. This was moved to Vienna, Austria, on September 1, 1965. OPEC's objective is to co-ordinate and unify petroleum policies among Member Countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on capital to those investing in the industry. Objective: In accordance with its Statute, the mission of the Organization of the Petroleum Exporting Countries (OPEC) is to coordinate and unify the petroleum policies of its

-16Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry.

Number of members: The member of OPEC is 12 countries. Current activities: To look at the current oil market outlook, in the light of the recent downturn in prices. Structure: It is responsible for the implementation of all resolutions passed by the Conference and carries out all decisions made by the Board of Governors. It also conducts research, the findings of which constitute key inputs in decision-making. The Secretariat consists of the Secretary General, who is the Organizations Chief Executive Officer, as well as such staff as may be required for the Organizations operations. It further consists of the Office of the Secretary General, the Legal Office, the Research Division and the Support Services Division. The Research Division comprises Data Services, Petroleum Studies and Energy Studies departments. The Support Services Division includes Public Relations & Information, Finance & Human Resources and Administration & IT Services departments.

2.13 NAFTA (North American Free Trade Agreement):

Short history: The North American Free Trade Agreement or 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 between the U.S. and Canada. In terms of combined GDP of its members, as of 2010 the trade bloc is the largest in the world.

-17Objective:

Their general objective is to ensure an easy trilateral trade among the north American countries USA, Canada and Mexico. Number of members: The member of 3 largest Develop countries (Canada, the United States, and Mexico) Current activities: Implementation of GHS - US / NAFTA Activity ... NAFTA Technical Working Group on Pesticides has included GHS. Structure: A similar administrative body, the Binational Secretariat, existed under the Canada United States Free Trade Agreement to administer the dispute settlement provisions of that Agreement. It consisted of two offices, known as national sections, one in Ottawa and one in Washington, D.C.

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Part- 3

3.1 Finding Analysis:

The WTO is currently endeavoring to persist with a trade negotiation called the Doha Development Agenda (or Doha Round), which was launched in 2001 to enhance equitable participation of poorer countries which represent a majority of the world's population

World Bank assist in the development of the underdeveloped nations of the world.
The most powerful countries in attendance were the United States and United Kingdom, which dominated negotiations. The IMF is charged with overseeing the international monetary system to ensure exchange rate stability The UN Charter established six principal organs of the United Nations. IDB is to foster the economic development and social progress of member countries and Muslim communities individually. The Asian Development Bank aims for an Asia and Pacific free from poverty. ADB in partnership with member governments, independent specialists and other financial institutions - is focused on delivering projects that create economic and development impact. SAARC objectives are to promote quality of life and economic growth in the members regions. SAARC has engendered mutually beneficial cooperation in many diverse areas and promoted greater understanding, goodwill and cooperation among the people and Governments of South Asia SAFTA would gradually eliminate most tariffs and other trade barriers on products and services passing between its member countries. EU has delivered half a century of peace, stability, and prosperity, helped raise living standards, launched a single European currency. The European Union is a unique economic and political partnership between 27 European countries. -19 As set out in the ASEAN objectives are to accelerate the economic growth, social progress and cultural development, to promote regional peace and stability.

 BIMSTEC was initiated with the goal to combine the 'Look West' policy of Thailand and ASEAN with the 'Look East' policy of India and South Asia. The mission of the Organization of the Petroleum Exporting Countries (OPEC) is to coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets. NAFTA is an free trade agreement among Canada, Mexico, and the United States.

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Part- 4 4.1 Conclusion:

In conclusion, it is to be noted that the World well known organization are mostly focus on several development. Although those organizations structure is similar to each other and their work also approximately similar . However United Nation is the most powerful organization among them and then European Union also a powerful organization. At the above these two organization work is to development of economy, currency etc and also make solution of problem among the members of their countries. Again many organization work may specific as like OPEC only concern with oil related works. Although all organization are important for our current world.

4.2 Recommendation:
1. WTO should take more necessary step for poor countries. 2. World bank dominated negotiations of UK and USA should be removed. 3. IMF should increase their monitoring system of monetary policy. 4. UN has some countries whose only has right to veto and this right should distribute equally among all members of United Nation. 5. IDB concern with all Islamic countries economy but it also should co-operation with non-Islamic countries specially for trade. 6. ADBs interest rate of loan should divide as low-lower-lowest on the basis of economic existence of countries. 7. SAARC should try to solution countries area problem and should accept one

currency for all members. 8. SAFTAs free trade system should more powerful and efficient. 9. EU may more improve their economic growth if they can united all of European countries. -2110. ASEAN members countries GDP should increases for economic growth. 11. BIMSTEC need more members from South Asian countries to improve their activities.

12. OPEC should concern more about oil prices. 13.NAFTA free trade is successful because members are seem to be same economy..

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Part- 5 5.1 Reference:

1. http://www.gatt.org/

2. http://en.wikipedia.org/wiki/World_Trade_Organization 3. http://trade.ec.europa.eu/doclib/press/index.cfm?id=767 4. http://en.wikipedia.org/wiki/World_bank#1944.E2.80.931968 5. http://www.companydebtmanagement.com/world-bank-its-objectives-and-functions/ 6. http://en.wikipedia.org/wiki/Imf#History 7. http://www.imf.org/ 8. http://www.imf.org/external/about/govstruct.htm 9. http://www.un.org/ 10. http://www.nafta-sec-alena.org/en/view.aspx?x=202 11. http://www.isdb.org/ 12. www.adb.org/ 13. http://www.saarc-sec.org/ 14. http://en.wikipedia.org/wiki/South_Asian_Free_Trade_Area 15. http://www.acci.org.af/trade-liberalization-agreements/safta.html 16. http://wiki.answers.com/Q/How_many_countries_are_members_of_the_EU_as_of _today 17. http://europa.eu/about-eu/institutions-bodies/index_en.htm 18. http://www.aseansec.org 19. www.bimstec.org/

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