Week9: South Africa

South Africa is a country in southern Africa. It has the largest economy in Africa and the 28th-largest in the world. The economy of South Africa is ranked as an upper-middle income economy by the World Bank. 

 
South Africa is considered as an emerging economy. It is because the affordability and availability of capital. Additionally, it has sophisticated financial market and effective business tax rate. The South African rand is the most actively traded emerging market currency in the world. The Gross Domestic Product in South Africa expanded 1.3 percent in the second quarter of 2011.

 

However, South Africa is falling behind other emerging markets, such as India and China because of several factors. For example, the country is relatively small, without the advantage of a huge domestic customer base. Also, it has had for decades an unusually low rate of saving and investment, partly because of political uncertainties. Moreover, a strong and unstable currency deters investors and makes its exports less competitive. In conclusion, South Africa has potential but still have to upgrade some weak points.

Week8: ASEAN

The Association of Southeast Asian Nations (ASEAN) is a geo-political and economic organization of ten countries located in Southeast Asia, which was formed on 8 August 1967.

To improve ASEAN performance, 
every country should collaborate within the organization to develop and integrate their statistical data to help sharpen policy making and planning, as well as to boost development in the region. Because the members are small countries, they all want to increasing standards of living of their people.

The aims and purposes of ASEAN are: 

1. To accelerate the economic growth, social progress and cultural development in the region.

1. To promote regional peace and stability through abiding respect for justice and the rule of law in the relationship among countries.
2. To promote active collaboration and mutual assistance on matters of common interest in the economic, social, cultural, technical, scientific and administrative fields.
3. To provide assistance to each other in the form of training and research facilities.
4. To collaborate more effectively for the greater utilisation in every aspects.
5. To promote Southeast Asian studies.
6. To maintain close and beneficial cooperation with existing international and regional organizations.

Week7: Port and Transport Issue

From the field trip that I went to Moran Shipping Agencies, Inc., it expands my perspective in shipping. Mr. Jason E. Kelly, executive vice president, made me understand more clearly about the important of shipping agency toward international companies and global trade.

Moran Shipping Agencies, Inc. was founded by James F. Moran in 1937 as a Rhode Island based corporation operating in Providence. After he died in 1959, Edward Moran succeeded his brother in the ownership of the business. Managing a shipping agency is a complicated task, to achieve organizational goals and ensure that shipping operations are running smoothly, an effective management approach is necessary. In 1974, Black family acquired ownership and worked in all aspects of the business. During 80’s and 90’s, Moran continued their expansion across the US Gulf and continued the efforts of expanding its presence throughout North America. The Company now has 20 full service offices serving nearly 100 ports in North America.

Shipping agencies play a major role in the transportation of goods from one country to the other. Transporting essential commodities from the country of manufacture to various ports around the world, shipping agencies are an essential part of any country’s economy. Shipping agencies provide that will benefit the clients. For example, Moran offers major clients secure access to the Company’s data base enabling them to review historical documents and current information on all voyage accounts. Moreover, Moran agents have served on various committees and have been utilized as consultants for the Department of Homeland Security. As such, Moran offers clients advice and services in this area, as well.

Week6: International Sugar Agreement

The International Sugar Organization is an intergovernmental organization, based in London, the 86 member (the European Union and 59 other countries) states of the ISO represent:

• 83% of world sugar production
• 69% of world sugar consumption
• 95% of world exports
• 47% of world imports 

Since 1953 there have been various attempts to raise and stabilize world sugar prices through international agreement. The latest agreement in 1977 established export quotas for its parties and intervention stocks in order to withdraw sugar from the market when prices were low. Like most of the previous ones, this agreement ended in failure. This failure was due in part to the fact that the European Union - one of the largest exporters - refused to sign the agreement. The agreement expired in 1984 and no further agreement on price-stabilizing measures has been achieved. 

The 1992 International Sugar Agreement merely establishes a framework for conducting market analyses and exchanging information. The International Sugar Organization has the role of promoting the sugar industry, particularly in the developing countries, and improving the transparency of the market by publishing statistics on sugar production and trade and world market analyses.

The objectives of the International Sugar Agreement, 1992 are;

(a) To ensure enhanced international cooperation in connection with world sugar matters and related issues;

(b) To provide a forum for intergovernmental consultations on sugar and on ways to improve the world sugar economy;

(c) To facilitate trade by collecting and providing information on the world sugar market and other sweeteners;

(d) To encourage increased demand for sugar, particularly for non-traditional uses.