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Multinational institutions and agencies establish standards for international law, promote cooperation, and create rules that govern globalization.

United Nations, UNESCO, World Bank Group, European Union, and Mercosur

  1. The United Nations (U.N.) facilitates cooperation in international law and security. Additionally, the United Nations role is to address human rights and advocate economic development. Although the UN seeks to prevent war and safeguard human rights, the UN is also a mechanism for international law.
  2. UNESCO (United Nations Educational, Scientific and Cultural Organization) is a UN agency and the organization’s purpose is to contribute to peace and security. To achieve its goals, UNESCO promotes international cooperation through education, science, and culture. The aim is to advance universal respect for justice, rule of law, human rights, and fundamental freedoms proclaimed in the UN Charter.
  3. The World Bank Group provides financial products and technical assistance for economic development. The group consists of five international organizations and focuses on human development, agriculture/rural development, environmental protection, and governance.
  4. The European Union (EU) is a political and economic union of 27 member states, subject to the obligations and privileges of membership. European integration began in the 1950s, but the modern union was established in 1992 with the Maastricht Treaty. In 2007, the Reform Treaty confirmed its current structure and gave power to the EU. Under this treaty, the twenty-seven member states agree to pool their sovereignty and delegate many decision-making powers to the EU.
  5. The The Mercosur (Common Market of the South) is an economic integration project founded by Argentina, Brazil, Paraguay, and Uruguay. The main objective is to generate commercial and investment opportunities through the competitive integration of national economies to the international market. Under the Common Market, free movement of goods and services are permitted between countries.

    The intergovernmental integration process allows each State Party one vote and decisions must be taken by consensus with the presence of all States Parties. Decisions are made through three bodies: The Common Market Council (CMC), which politically leads the integration process, the Common Market Group (GMC), which oversees the daily functioning of the bloc, and the Trade Commission (CCM), in charge of the administration of common trade policy instruments.

Taken from – Test Your Knowledge


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