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U.S. Department of State

Diplomacy in Action

Some Frequently Used Acronyms


ADB - Asian Development Bank
AGOA - African Growth and Opportunity Act
Asia-Pacific Economic Cooperation
- Bank for International Settlements
CACM - Central American Common Market
CARICOM - Caribbean Common Market
CAP - Common Agricultural Policy (of the EU)
CBTPA - Caribbean Basin Trade Partnership Act
- Commodity Credit Corporation (Department of Agriculture)
CIF - cost, insurance and freight
- European Bank for Reconstruction and Development
EFTA - European Free Trade Association
EMS - European Monetary System (of the EU)
EPZ - export processing zone
- Exchange Rate Mechanism (of the EU)
EU - European Union
EXIMBANK - U.S. Export-Import Bank
FDI - foreign direct investment
free on board
FOREX - foreign exchange
FTA - free trade agreement
FTAA - Free Trade Area of the Americas
- fiscal year
GATS - General Agreement on Trade in Services
GATT - General Agreement on Tariffs and Trade
GDP - gross domestic product
GMO - genetically modified organism
- gross national product
GSP - Generalized System of Preferences
IBRD - International Bank for Reconstruction and Development (World Bank)
IFIs - international financial institutions (IMF, World Bank and regional development banks)
ILO - International Labor Organization (of the United Nations)
IMF - International Monetary Fund
IDB - Inter-American Development Bank
IPR - intellectual property rights
IT - information technology
- most favored nation
NAFTA - North American Free Trade Agreement
NGOs - non-government organizations
NIS - Newly Independent States (of the former Soviet Union)
OECD - Organization for Economic Cooperation and Development
OPIC - U.S. Overseas Private Investment Corporation
PTT - Post, Telegraph and Telephone
SDR - Special Drawing Rights (of the IMF)
TRIPs - WTO Agreement on Trade-Related Aspects of Intellectual Property Rights
UR - Uruguay Round of trade negotiations in the GATT
USD - U.S. Dollar
VAT - value-added tax
WIPO - World Intellectual Property Organization
WTO - World Trade Organization


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