Export-Import Bank of the United States (Ex-Im Bank) is the official export credit agency of the U.S. federal government. Founded in 1934 by an executive mandate, it was transformed by Congress in 1945 into an independent agency within the executive branch. Its purpose is to finance and insure foreign purchases of U.S. products for customers who are unable or unable to accept credit risks. At the 1994 meeting in Bogor, Indonesia, APEC leaders adopted Bogor`s goals of free and open trade and investment in Asia-Pacific by 2010, for industrialized countries and by 2020 for developing countries. In 1995, APEC established a business council, called the APEC Business Advisory Council (ABAC), made up of three leaders from each member economy. To achieve Bogor`s objectives, APEC is working in three main areas: the EU is working on a system of supranational independent institutions and intergovernmental decisions negotiated by member states. The important institutions of the EU are the European Commission, the Council of the European Union, the European Council, the European Court of Justice and the European Central Bank. The European Parliament is elected every five years by EU citizens. The EU has developed an internal market through a standardised legal system that applies to all Member States. Passport controls have been abolished within the Schengen area (which includes EU and third country member states).
EU policy aims to ensure the free movement of people, goods, services and capital, to legislate in the areas of justice and home affairs and to maintain common policies in the areas of trade, agriculture, fisheries and regional development. The monetary union, the euro area, was created in 1999 and has been made up of 17 Member States since January 2012. Thanks to the common foreign and security policy, the EU has developed a limited role in external relations and defence. Permanent diplomatic representations have been established around the world. The EU is represented at the United Nations, the WTO, the G8 and the G20. A common market is the first step towards a single market and may, initially, be limited to a free trade area. Explain the Purpose of the Export-Import Bank of the United States (Ex-Im Bank) The General Agreement on Tariffs and Trade (GATT) is a multilateral agreement regulating international trade. contribute to the harmonious development and expansion of world trade and act as a catalyst for broader international cooperation; APEC is a forum for 21 peripheral Pacific countries that want to promote free trade and economic cooperation throughout the Asia-Pacific region. The World Bank is an international financial institution that provides loans to developing countries for capital programs. The World Bank`s official goal is to reduce poverty. According to World Bank articles (as of 16 February 1989), all its decisions must be based on the obligation to promote foreign investment, international trade and the facilitation of capital investment.