A
abundant — present in great quantity; more than adequate; oversufficient
accession agreement — an agreement concluded between the Union and states that are not member states, usually, in their terms, ‘with a view to membership
accommodate — to adapt, adjust
acquire — come into possession or ownership; obtain
admission — the process or fact of entering or being allowed to enter an organization
allegiance — loyalty or devotion to some person, group, cause, or the like, esp. loyalty of citizens to their government
alter — to make different, modify
approve amendment — to confirm formally, accept an alteration of or addition to a bill, constitution
associate members — as a member of an organization having only partial rights and privileges or subordinate status
assume — suppose; postulate; posit; to take over the duties or responsibilities of
availability — easily obtainable and ready for use
B
bilateral trade — the exchange of goods between two nations promoting trade and investment
C
capability — power; ability; the quality of being capable
cease — to stop or discontinue
cohesiveness — the quality of being structured or organized in a unified way, with close or strong internal connections between people, ideas, or other elements
commodities — an article of trade or commerce, esp. a product that can be bought or sold
common currency — money system for more than one country
common market — a formal agreement where a group is formed amongst several countries that adopt a common external tariff
compete — the economic scenario in which enterprises put effort to be leaders in their industry and increase their market share
complete economic integration — the point of integration at which economic countries involved have no control of economic policy, full monetary union, and complete harmonization of fiscal policy
compliance — cooperation or obedience, conformity, accordance
comprehensive — of large scope; covering or involving much; inclusive
comprise — to include or contain
conceptual comprehension — understanding the connection of concepts, operations, and relations
constitute — to create; be tantamount to, to compose or form
constrained — to repressed or restrained, forced, compelled, or obliged
conventional — conforming to or following accepted standards
counterbalance — have an equal but opposite effect on something in a positive way
customs procedures — the set of managements and operations that are carried out related to a specific customs destination
customs union — groups of countries that apply one common system of procedures, rules and tariffs for all or almost all their imports, exports and transiting goods
D
designate — to nominate or select; assign
detrimental — harmful or damaging
discriminatory — relating to or marked by discrimination
domestic policy — a type of public policy overseeing administrative decisions that are directly related to all issues and activity within a state’s borders
dominate — to be the major factor or influence in
draft — to compose, make a blueprint, draw up an outline of a document/ bill/ treaty/ agreement
E
economic bloc — a set of countries which engage in international trade together, and are usually related through a free trade agreement or other association
economic union — an agreement between two or more nations to allow goods, services, money and workers to move over borders freely
elaborate — to work out in great detail
emerge — become known or apparent
employment — a relationship between two parties regulating the provision of paid labour services
encroach — to trespass upon the property, domain, or rights of another, esp. stealthily or by gradual advances
equitable — characterized by equity or fairness; just and right; fair; reasonable
ensure — to guarantee; to make secure or safe
entity — a unit considered as distinct, independent, or self-contained
equitably share — fair and reasonable in a way that gives equal treatment or ownership to everyone
executive body — the branch of an institution charged with the execution and enforcement of laws, policies and the administration of an institution affairs
expenditure — money spent; expense
F
fiscal policies — the use of government spending and tax policies to influence economic conditions, especially macroeconomic conditions
food safety standards — the regulatory requirements related to food safety, designed to protect consumers from the risk of illness caused by eating unsafe foods
foreseeable — that can be sensed or known in advance
free trade agreement — a pact between two or more nations to reduce barriers to imports and exports among them
free trade area — a region in which a group of countries has signed a free trade agreement and maintain little or no barriers to trade in the form of tariffs or quotas between each other
full-fledged members — of full rank or standing; completely developed or qualified member
full-time members — working or operating for the entire time appropriate to an activity of an organization
G
generate — to bring into existence; produce; originate
generic term — relating to, or applying to all the members of a class, group, or kind
governance — the act of exercising authority
gross domestic product (GDP) — the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period
H
hegemon — a leading or paramount power
heterogeneity — the quality of being diverse and not comparable in kind; composition from dissimilar parts; disparateness
I
implement — to put into effect according to or by means of a definite plan or procedure
impose — to apply by authority; force the acceptance of
incorporate — to introduce (something) as a basic part
influx — an arrival of a large number of people or things at the same time
infringement — an act of interfering with someone’s rights
intellectual property rights — the legal rights given to the inventor or creator to protect his invention or creation for a certain period of time
interconnect — be interwoven or linked closely together
interdependence — a reciprocal relation between interdependent entities
international policy — foreign policy pursues general objectives that guide the activities and relationships of one state in its interactions with other states
intra-regional — occurring between, or existing between two or more regions
J
K
L
M
market access — the ability of a company or country to sell goods and services across borders
market expansion — a growth strategy which involves offering your existing product/service to a new market
merchandise trade — goods which add or subtract from the stock of material resources of a country by entering (imports) or leaving (exports) its economic territory
merge — to combine or unite into a single enterprise, organization, body
N
non state actors — organizations and/or individuals not directed or funded by any government
O
objective — a purpose; aim; goal
outline — to indicate the main features of
oversee — to supervise; manage
P
participation — the act of becoming involved in the activities of a group
partnership — a cooperative relationship between people or groups who agree to share responsibility for achieving some specific goal
part-time privileges — a right or advantage enjoyed on a part-time basis
pass legislation — to bring in a new law by voting in parliament or by decree
per capita income — a measure of the amount of money earned per person in a nation or geographic region
pertain — to have reference or relation to; relate
pillar — a fundamental principle or practice
plenipotentiary — a diplomat given full power to conduct business for someone else
policy-making — the activity of deciding on new policies, especially by a government or political party
political commitment — the persevering act of politicians which ensures that they are achieving results
potential investors — any person (an individual, company, business or organisation) with whom, within the relevant period, the company or any group company is in negotiations for such person to invest in any target company
preferential trading area (PTA) — a trading bloc that gives preferential access to certain products from certain countries
preferential treatment — any concession or privilege granted to the party
prevention — effectual hindrance, obstacle, or impediment
priority — the state or quality of being earlier in time, occurrence, etc. the right to precede others in order, rank, privilege, etc.; precedence
proliferation — a rapid and often excessive spread or increase
provision — a clause in a legal instrument, a law, etc., providing for a particular matter
purchasing power — the amount of goods and services that can be purchased with a unit of currency
Q
R
ratify — to confirm by expressing consent, approval, or formal sanction
rationale — the fundamental or basic reason or reasons serving to account for smth
reassert — strengthen or make more firm
reduction — the act of making something smaller in size, amount, number
regional economic integration — a process in which two or more countries agree to eliminate economic barriers, with the end goal of enhancing productivity and achieving greater economic interdependence
regulatory practices — processes and tools to help improve the quality and effectiveness of measure, actions and activities
removal — the act of removing or state of being removed
representative body — a body or persons (an association, trade union, works council) chosen to make decisions or craft the policy on behalf of a larger group
resolve — to settle or solve (a question, dispute, etc.)
respective — relating individually to each; particular
restriction — a limiting condition or measure, especially a legal one
retain — to keep possession of; to continue to use, practice, have, hold in place
returns — a profit or gain, such as from work
rotate — to replace (a person, troops, etc.) by another or others, usually according to a schedule or plan
S
scope — extent, limit or range of view, outlook
security concerns — anxiety or worry related to all the measures that are taken to protect and safe a place, people, institutions, property or measures taken as a precaution against theft or espionage or sabotage etc.
signatory — the signer, or one of the signers, of a document
social welfare policies — aim to protect citizens who may be considered poor, unemployed, unhealthy, or marginalized from their community
sovereignty — the right to have absolute and unlimited power, either legal or political, within the territory of a state
stance — a mental or emotional position adopted with respect to something
standards harmonization — technical specifications meeting the essential requirements of the EU directives
statutory — relating to or authorized by statute (a law passed by a legislature)
stipulate — to specify in terms of agreement
submit — to present for approval or consideration
subsidiarity — the principle of devolving decisions to the lowest practical level
supranational — above the authority or scope of any one national government, as a project or policy
suspend — to remove from membership in or prevent from attending, usually for a limited time, a job, school, club, etc., esp. as a punishment
sustainable — capable of being supported or upheld; pertaining to a system that maintains its own viability by using techniques that allow for continual reuse; using methods that do not cause long-term harm to the environment
T
term — condition
terminate — to bring to an end, dismiss
transboundary — crossing the border between two or more countries or areas and affecting both or all areas
U
underpin — strengthen by reinforcing a foundation; to give corroboration or support to
uphold — to maintain, affirm, or defend against opposition or challenge
V
vehicle — a means of accomplishing a purpose
violation — a breaking of a law
W
withdraw — to separate formally from membership in a state, union, or other political entity