Regional Organisation Economic Development

EENI- School of International Business

Subject: 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. The GUAM Free-Trade Area

The objectives of the subject “The 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 the member countries and areas of cooperation
  3. To know the free-trade area between the GUAM's Member States
The subject “The Regional Organisation for Democracy and Economic Development (GUAM)” is studied...
  1. Doctorate: Europe
  2. Masters (e-learning): International Business, Emerging Markets, and Economic Relations
  3. Courses (Online): Eastern Europe, Central Eurasia

Languages of study English or Spanish GUAM

Credits of the subject “GUAM”: 0.2 ECTS Credits

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

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

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

Turkey and Latvia are observer countries.

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 the free trade area to grant the:

  1. Elimination of the customs duties, as well as taxes and dues having equivalent effect, and quantitative limitations in mutual international trade
  2. Removal of other obstacles to the 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 the 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 the implementation of the 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. The GUAM is an organisation that has Muslim and Orthodox countries
  2. The 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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