Regional Organisation Economic Development

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 the member countries and the areas of cooperation
3. To know the free-trade area between the GUAM Member States

Description: 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). The Free-Trade Area between GUAM's Member States entry into force in 2003.

1. Turkey and Latvia are observer countries.

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

1. Customs duties elimination, as well as taxes and dues having equivalent effect, and quantitative limitations in mutual international trade
2. Other international trade obstacles removal
3. Establishment and development of a 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 industry, agriculture, international transport, international finance, foreign direct investment, and fair competition
5. Harmonisation of legislation

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 the business circles and business entities of GUAM participating states.

Transport Corridors related to the Regional Organisation for Democracy and Economic Development (GUAM):

1. International North-South Transport Corridor (India-Russia)
2. Afghanistan-Turkmenistan-Azerbaijan-Georgia-Turkey Transport Corridor (Lapis Lazuli)
3. Trans-Caspian Trade and Transit Corridor (Central Corridor)
4. Pan-European Corridor IX (Finland-Russia-Greece)

1. 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 (Islamic Civilisation) and Orthodox Civilisation)

Ukrainian Trade Agreements: EFTA, EU, Black Sea Synergy, Black Sea Economic Cooperation, Central European Initiative...

1. China-Central Asia-West Asia Economic Corridor
2. Transport Corridor Europe-Caucasus-Asia (TRACECA)