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This chapter identifies features of foreign economic policy of the Republic of Belarus determined by its multidirectional external economic relations and participation in the processes of international economic integration.

It is noted that in the last decade there has been an active search for opportunities to shift the focus in foreign economic policy, including geographic redirection of trade and investment flows, intensification of the search for a “niche” and new ways of incorporating into the world economic relations system, progress toward the liberalization of trade relations by means of multilateral and bilateral interaction formats.

This section assesses the motivation for the boost of the foreign economic policy of the Republic of Belarus in the context of aggravated geopolitical situation and the growth of protectionist tendencies and identifies obstacles to its implementation.

We first discuss what fairness may mean in the context of the dispute settlement process, noting the crucial relation between fairness in dispute settlement and the functioning of the trading system as a whole. We explore this relation further through an analysis of three main groups of dispute settlement cases. These are cases that turn around the question of defining fair competition; cases that arise from the use of contingency measures; and cases that draw the boundaries between domestic regulatory measures and the trade-related norms and rules of the WTO. There follows an analysis of experience with compliance and with the use of countermeasures in various cases. Finally, taking together the rulings of the Dispute Settlement Body and the procedures for compliance and the use of countermeasures, we conclude that while the present dispute settlement process serves to protect the fairness of the trading system as a whole, there are some aspects of dispute settlement that remain problematic from the standpoint of fairness.

India and Iran historically share centuries-old strong socio-cultural and trade relations since ancient times. The chapter explores emerging opportunities and challenges in trade and investment in the present era. While Iran is one of the leading producers and exporters of oil, India, a major market for hydrocarbons, is heavily dependent on imports to meet its domestic requirements. This offers trade complementarities between the two countries as India is a secure market for Iran’s oil whereas Iran facilitates India to decrease its over-dependence for oil on Saudi Arabia. This chapter discusses the mutually beneficial trade relationship as well as potential for further deepening the existing economic ties between these two ancient civilizations that could offer a win-win situation for both countries.

This chapter highlights the importance of eco-quality and eco-standards as a determinant of socially responsible trading management and marketing. Starting from the premise that ecology internationalizes and becomes determinant of socially responsible marketing and management, we analyse trade competitiveness based on quality, marketing strategy for quality in trade, and correlation of trade and ecology.

Based on literature about quality and quality management, this chapter starts with an analysis of the importance of quality for trade and marketing strategy for quality in trade. Analysis shows that the issue of quality has always been present in trade, but mostly as a commercial requirement in the forming and functioning of buying and selling relations. However, the quality of products and services that are subject of buying and selling relations between producers, trade, and consumers cannot be viewed outside of space and time. It has its own evolution, which is closely related to the needs and demands of consumers. Historically observing, it can be concluded that the quality of the trade in market-developed countries has evolved from elementary characteristics of assortment quality (durability, utility), over the quality of service, to the eco-quality. Direction of quality evolution was determined by development of ecological awareness regarding vulnerability of the nature and environment. This is why the economies of certain countries are at different levels in terms of ecological economics and eco-quality.

It’s discovered that the consumer creates direction of evolution of eco-marketing and eco-management. He is becoming an active participant in the creation of “eco-package offer” of trading enterprises. Obliviousness of the eco-quality aspect, from trade toward the customer, represents an antimarketing act. Ecologically irresponsible management has double “punishment.” On the one hand, “punishment” comes from the consumer who does not buy the product, and on the other hand, socioeconomic environment is punishing it by using “polluter pays” principle. In order to act as an incentive for the creation of an eco-responsible marketing management, European Union (EU), World Bank, and European Bank for Reconstruction and Development have established a Fund for protection of the environment. Countries with recent label “in transition” (Poland, Czech Republic, and Slovakia) are allocating 2% of GDP for protection of the environment, while our country allocates less than 1% of GDP.

The chapter provides a starting point for further research in the field of ecological aspects of trade and correlation of trade and ecology.

Commercial diplomacy within the EU is currently a matter for the individual EU member states (MS). This results in different policies and practices. But to what extent do they really differ? This chapter presents the results of a comparative study on EU MS commercial diplomacy policies and practices. The policy goals and practices of all 27 MS were assessed via document analysis and interviews with commercial diplomats. The findings show considerable differences in terms of the responsible ministry, the policy focus, the network of foreign posts and the work performed at the foreign post. However, countries that entered the EU first seem to have similar commercial diplomacy policy and practices characteristics, as do the countries that entered the EU after 2003. Furthermore, the results of statistical tests show that countries that entered first are similar in size, wealth, share of EU trade, number of embassies inside the EU, number of employees at the foreign post and the activism of the foreign post. These similarities apply as well for the countries that entered the EU after 2003. Overall, this study concludes that home country characteristics (size, culture, government), host country characteristics (institutions, culture, regime) and the relationship between a home country and a host country affect the commercial diplomacy policies and practices.

The main purpose of this chapter is to explore the role BRICS countries have played in the formation of regional (free) trade agreements. The present chapter tries to understand and document recent developments and directions taken by the BRICS countries either individually or in aligning with each other at the regional and mega-regional levels.

The chapter is largely empirical and descriptive to analyse the recent RTAs policies of the BRICS countries.

This chapter provides in particular as assessment of the impact on BRICS countries of the three recent Mega-RTAs; that is TPP, TPIP and RCEP. For this purpose, an attempt had been made to find out the commonalties and divergences in the RTAs policies of the BRICS countries.

The chapter is divided into six sections. After a brief introduction, the second section deals with the reasons for countries entering into RTAs. The third section documents the directions of the current negotiations on Mega-RTAs and its (potential) geographical implications for the BRICS countries. The fourth and the fifth sections deal with the current status of these RTAs and their noticeable impact on the response of the BRICS countries. The final section concludes the research with suggestions and recommendations.

RTAs and Mega-RTAs frameworks have been useful for BRICS countries. This recent development in trade negotiations can be regarded as promising for them.

To discuss the historical roots of contemporary geopolitical economy, this paper aims to explore the complex and influential analysis of Tilly's formation of European national states as a predominant type of territorial political organization in contemporary world. To do this, Tilly described different eras of dominant organization of warfare in relation to state organization: patrimonialism, brokerage, nationalization, specialization. In this paper, we explore the link between the organization of military power and trade policy. We are trying to answer the question, if it is possible to credibly state a connection between the trade policy types pursued by selected states in specific historical periods and Tilly’s eras of dominant form of organization of warfare. For this purpose, we developed a typology of trade policies of important states throughout the history, using the economic history research of leading experts in the field. Our conclusion is that such a connection – between trade policy and Tilly’s eras of organization of warfare – can be made and that this connection is solidly supported by economic history. Our analysis may be of value for any critical assessment of international trade relations in contemporary geopolitical economy – and of influential cosmopolitan interpretations of the liberal trade regime of 19th century or globalization in 20th century.

The chapter examines the current trade war between the United States and China and its impact on the two countries’ military industrial complex in relation to economic growth and development. The trade war has both positive and negative impacts on the country’s economic growth and development. Both countries depend heavily on each other for trade and account for an incredibly significant portion of the global trade. The trade war also impacts on the military industrial complex with respect to the defense budgetary allocation and trade in arms. One of the rationales for the trade war by the Trump Administration is to boost up the domestic economy, which would benefit the military industrial complex. Likewise, the retaliatory tariffs by China are designed to protect the domestic economy and showcase its ability to withstand and challenge the United States. The military industrial complex is important to both the countries. The chapter applied a quantitative design with canonical correlation method to multiple regression, where there are multiple intercorrelated outcome variables relative to military industrial complex and the processes of economic growth and development. It shows that trade wars in the form of increased imposed tariffs on each other by the United States and China has had no significant adverse effect on the Military Industrial Complexes of the two biggest economies of the world.

– This chapter aims to increase our understanding on how the language diversity of multiethnic Central Asian countries and their diasporas constitutes a talent and resource-base for local and global businesses. We revisit the role of ‘language capabilities’ for boundary-spanning abilities and the particular challenges and opportunities posed by linguistically diverse contexts among diaspora members and their homeland.

– This chapter provides an overview of prior research and uses qualitative interviews and ethnographic data.

– The findings indicate that language diversity is an important multi-layered resource and a socio-economic link that allows culturally distant markets to interact and bridges the gaps across geographic boundaries. Individuals with multiple languages and migrant ties may develop alternative ways of communicating for business, such as translanguaging and cultural communication mode-shifting.

– The administrative ‘imperial’ languages are often perceived as the oppressor's instrument, however, the alternate perspective presents it as a resource for economic relations and international business development that exists in parallel to the indigenous language heritage. We introduce a concept, on diaspora ‘language portfolio’ that is a toolbox of communication assets that allows migrants to connect and operate interculturally and inter-regionally.

– We deviate from the English language dominance of the international business literature and address how another geographic and linguistic context such as the Russophone business provides a contextual lens to understand how language capabilities of diaspora members is an asset to both, their home and host nations. We illustrate how both the Russian language and the regional and minority languages offer a great potential for entrepreneurial and trade relations. By introducing a Framework of Diaspora ‘Language Portfolio’ this study underlines that minorities and diasporas are key boundary spanners and connectors in new markets and enhance the development of trade in the region.

The evolution of the Fair Trade movement offers an apposite case through which to examine the idea of regulating risk through a “social sphere.” An analysis of Fair Trade through the lens of “defiance” reveals discrete models and actors of risk regulation that evolve in an iterative fashion. These findings not only add complexity and heterogeneity to the social actors and mechanisms of regulation in the social sphere, but also highlight the challenges this diversity poses for the project of alleviating market risk. In turn, the framework of defiance offers a fertile analytical framework for the study of transnational risk regulation by capturing the dynamic actor and institutional complexities that underpin, and embody challenges for, the regulation of risk through the social sphere. The article begins with an overview of the Fair Trade movement and consideration of Fair Trade’s approach to regulating market risk. It then introduces the notion of defiance, focusing on two of its subtypes: game playing and resistance. Following a short overview of the methodological framework employed to analyze these dynamics, the third section applies these analytical categories of defiance to explore primary data gathered on Fair Trade’s evolution. The article shows that the motivational posture of game playing, through its continued experimentation and entrepreneurship in transnational risk regulation, is pregnant with potential to mitigate the risks generated by economic activity.