Regional Organisation Economic Development

EENI- School of International Business

Subject (Course): The Regional Organisation for Democracy and Economic Development (GUAM). Syllabus:

  1. Introduction to the Regional Organisation for Democracy and Economic Development (GUAM).
  2. The structure of GUAM
  3. The Business Council of the Regional Organisation for Democracy
  4. GUAM Free Trade Area.

The objectives of the subject “Regional Organisation for Democracy and Economic Development (Guam)” are the following:

  1. To understand the purposes and structure of the Regional Organisation for Democracy and Economic Development (Guam)
  2. To assess the benefits for member countries and areas of cooperation
  3. To knowing the free trade area between GUAM's Member States
Subject “Regional Organisation for Democracy and Economic Development (GUAM)” is studied…
  1. Masters (e-learning): International Business, Europe, Emerging Markets, and Economic Relations

Languages of study: En or Es GUAM

Credits of the subject “GUAM”: 0.2 ECTS

Sample of the subject - Regional Organisation for Democracy and Economic Development (GUAM):
Regional Organisation GUAM

Subject Description: Regional Organisation for Democracy and Economic Development (GUAM):

The Organisation for Democracy and Economic Development (GUAM) is a regional organisation of four states: Azerbaijan, Georgia, Moldova, and Ukraine.

The observer countries are Turkey and Latvia.

The Free Trade Area between the GUAM's Member States entry into force in 2003.

The Regional Organisation for Democracy and Economic Development Member countries should cooperate in establishing free trade area to grant:

  1. Elimination of customs duties, as well as taxes and dues having equivalent effect, and quantitative limitations in mutual international trade
  2. Removal of other obstacles to international trade
  3. Establishment and development of efficient system of mutual settlement of accounts and payments in international trade
  4. Cooperation in conducting foreign trade and economic policy to reach the goals of Free Trade Area in the: industry, agriculture, international transport, international finance, foreign direct investment, and the fair competition
  5. Harmonisation of the legislation of the contracting members to the extent necessary for the proper and efficient functioning of free trade.

The GUAM Business Council facilitates implementation of agreements finished within the framework of the Regional Organisation for Democracy and Economic Development (GUAM), agreements on the development of cooperation among business circles and business entities of GUAM participating states.

  1. GUAM is an organisation that has Muslim and Orthodox Christian countries.
  2. Regional Organisation for Democracy and Economic Development (GUAM) is an inter-civilisation institution (Central Eurasian Economic Area of the Islamic Civilisation and Orthodox Civilisation)


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