Gats The General Agreement on Trade in Services is one of 28 free trade agreements of the World Trade Organization and it sets the rules for trade and investment in services. Services are estimated to represent 60 – 80% of GDP of WTO member countries. GATS covers 160 service sectors such as road building, water delivery, education, health care, telecommunications, tourism, postal delivery, social security, a variety of municipal services, and insurance. The scope of the agreement is very broad potentially covering government regulation of trade in services, and potentially covering government services at all levels of governments.
Gatt General Agreement on Tariffs and Trade A multilateral treaty intended to help reduce trade barriers between signatory countries and to promote trade through tariff concessions.
General Average Loss which is the result of a sacrifice voluntarily made or an expense incurred; for the sole purpose of saving a ship and its cargo in face of a common danger (e.g. jettison of cargo to lighten a ship in distress). The loss is borne proportionately by ship and cargo owners according to their respective interests in the voyage.
General Export License Any of various export licenses covering export commodities for which Individually validated export licenses are not required. No formal application or written authorization is needed to ship exports under a general export license.
General License Limited Value (Glv) Authorization to export a limited value amount of a good without specific documentary authorization.
General Order A Customs term by which if proper entry has not been made for merchandise within five working days after arrival in a port of entry, the goods are sent to a general order warehouse. All costs are charged to the importer.
Globalization The term frequently used to identify a trend toward increased flow of goods, services, money, and ideas across national borders and the subsequent integration of the global economy. However, the term is also used to refer to a deliberate project led by powerful institutions, people, and countries like the United States to apply a single template of economic strategy and policy-“market fundamentalism”-to all countries and all situations.
Government Procurement Policies Rules utilized by governments for purchasing of goods and services. Such rules are often used as a way to promote important public policy goals such as consumer protection, economic development, environmental protection, public health, and gender and racial equality.
Grantee A corporation to which the privilege of establishing, operating, and maintaining a foreign-trade zone has been granted by the Foreign-Trade Zones Board.
Gross Weight The full weight of a shipment, including goods and packaging.