Unit 1: International Business & Globalization Definition of Business


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1 Globalisation

World Trade Organization (WTO) regulates rules of the trade between countries-participants.
General Agreements on Tariffs and Trade (GATT) is currently replaced by WTO; its primary purpose was to eliminate barriers to international trade.
North American Free Trade Agreement (NAFTA) is a trade agreement between United States, Mexico and Canada.
United Nations (UN) helps countries to cooperate in international law, security, economic development, social progress including human rights issues. UN includes other agencies, i.e. World Health Organization (WHO) and the United Nation’s Children Fund (UNICEF).


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