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Functions:
The OPEC MCs coordinate their
oil production policies in order to
help stabilise the oil market and
to help oil producers achieve a
reasonable rate of return on their
investments. This policy is also
designed to ensure that oil
consumers continue to receive
stable supplies of oil.
OPEC FUND: The OPEC Fund for
International Development is a
multilateral development finance
institution. It was established in
January 1976, by the member
countries of the Organization of
the Petroleum Exporting
Countries.
OPEC Secretariat
The Secretariat carries out the executive
functions of the Organization in
accordance with the provisions of the
OPEC Statute and under the direction of
the Board of Governors
Members: Algeria, Angola, Indonesia,
Iran, Iraq, Kuwait, Libya, Nigeria, Qatar,
Saudi Arabia, UAE, Venezuela.
The Organization of the Petroleum
Exporting Countries (OPEC)
IT’S A PERMANENT ORGANIZATION ESTABLISHED IN
1960 AT THE BAGHDAD CONFERENCE BY IRAN IRAQ,
KUWAIT, SAUDI ARABIA, AND VENEZUELA.
IT WAS LATER JOINED 8 OTHER MEMBERS.
ITS HEAD QUARTER IS IN VIENNA.
ITS OBJECTIVE IS TO COORDINATE AND UNIFY
PETROLEUM POLICIES AMONGS THE MEMBER
COUNTRIES
TO SECURE FAIR AND STABLE PRICES FOR
PETROLEUM PRODUCERS.
PROPER PRICE AND REGULAR SUPPLY OF PETROLEUM
FOR CONSUMING NATIONS.
ASEAN
www.aseansec.org
ESTABLISHED IN 1967 .
5 FOUNDING MEMBERS : INDONESIA , MALAYASIA,
PHILLIPINES, SINGAPORE AND THILAND.
LATER ON JOINED BY BRUNEI, MYANMAR,VIETNAM
ETC.
ASEAN FREE TRADE AREA (AFTA) .
ASEAN BEYOND TRADE HAS POLITICAL ROLE AS
VISIBLE BY THE FORMATION OF ASEAN REGIONAL
FORUM OF WHICH CHINA, INDIA AND USA ARE
MEMBERS.
ASEAN AS A TRADING BLOC HAS BEEN A HUGE
SUCCESS LEADING TO PROSPERITY AND
ELIMINATION OF POVERTY IN THE MEMBER COUNTRY