REGIONAL COOPERATION AND ECONOMIC INTEGRATION
REGIONAL COOPERATION AND ECONOMIC INTEGRATION REGIONAL COOPERATION AND ECONOMIC INTEGRATION
e on a basis compatible with EBOPS for services and according to the Harmonized System for trade in goods, to facilitate comparisons with resident/non-resident trade classified on this basis. In developing FATS, there are two basic approaches. The first is to conduct surveys that directly request information on the operations of resident affiliates of foreign firms and foreign affiliates of domestic firms. The second, which can be used only for inward FATS, is to identify the subset of existing data on resident enterprises that is accounted for by foreign-owned firms. Links to existing domestic statistics should also be used as a source of information on FATS. Foreign Affiliates Trade Statistics are in the early stage of development. However, their collection and dissemination are taking an increasing importance at Eurostat, the OECD and the UNCTAD. An initial step towards international harmonization of basic concepts and definitions was taken via MSITS. This and other mentioned concepts have been accepted internationally, but they need to be supplemented and extended. A major difficulty involves data comparability, where numerous problems consists. There are many factors which most frequently affect the international comparability of data and also comparability between data from different national sources. The latest important step is the adoption of EU Regulation No 716/2007 on Community statistics on the structure and activity of foreign affiliates (European Communities, 2007) that is the legal framework according to which member states are required to provide inward and outward FATS to Eurostat starting from 2008 onwards, which was until then carried out on voluntary basis. CONCLUSIONS SOME ASPECTS OF TRADE STATISTICS AND REPORTING Contemporary concept of foreign trade statistics observe only the flow of goods and services across national borders. The activities of transnational companies are largely statisticaly unobserved except in the mode 3 of international trade of services. The second half of the 20th century, especially the period after 1990, is characterized by the rising role of transnational companies and their affiliates in international trade. The analysis in the paper shows that nowadays firms deliver goods and services to foreign markets more through their foreign direct investment operations (international production in foreign affiliates) than through traditional forms of international cross-border trade – export and import. The activities of TNCs have changed the structure and the way of performing of international trade. Traditional foreign trade statistics are not adequate any more as a tool for facilitating trade policy decision making. New concept of analysis of international trade, and the new statistical framework for foreign trade derived from it, define export of countries more broadly so it does not include only direct export but also includes the foreign sales of the affiliates of parent companies of that country in the host country and all other countries. But this export, under new concept, does not include export that foreign controlled affiliates made from the observed country. In the paper we proposed approaches and guidance on how to minimize the effects of distortions in the compiling of statistical data on international trade transactions caused by the activities of transnational companies. The main tool is the new concept of the international trade statistics known as Foreign Affiliate Trade Statistics (FATS). FATS is in the early stage but its adoption and implementation in national foreign trade statistics and its international harmonization will lead to a more comprehensive picture of the world economy and world trade which captures the flows between parent companies and their affiliates. 191
PART III: REFERENCES Bjelić, Predrag (2009), Statistika o aktivnosti filijala transnacionalnih kompanija u Evropskoj uniji, Evropsko zakonodavstvo, Institut za međunarodnu politiku i privredu, Beograd, forthcoming. Bjelić, Predrag (2008), Međunarodna trgovina, Ekonomski fakultet, Beograd. Bjelić, Predrag (2008a), Fondations of the New Concept of International Trade, in: International Conference of School of Economics and Business in Sarajevo (ICES 2008), Proceedings, School of Economics and Business, University of Sarajevo, Bosnia and Herzegovina. European Communities (2007), Regulation (EC) No 716/2007 of the European Parliament and of the Council of 20 June 2007 on Community statistics on the structure and activity of foreign affiliates, OJ L 171, 29.06.2007, pp. 17-31. Eurostat ”Foreign-controlled enterprises in the EU” Eurostat Statistics in Focus, 30/2008, Office for Official Publication of the European Communities, 13.02.2008. OECD (2005), OECD Handbook on Economic Globalisation Indicators, Paris. OECD (2008), OECD Benchmark Definition of Foreign Direct Investment, 4th edition, April 2008, Paris. Stojadinović Jovanović, Sandra (2009), Uredba 716/2007 Evropskog parlamenta i Saveta o statistici Zajednice o strukturi i aktivnosti stranih filijala, Evropsko zakonodavstvo, Institut za međunarodnu politiku i privredu, Beograd, forthcoming. Stojadinović Jovanović, Sandra (2008), Transnacionalizacija međunarodne trgovine, Prometej, Beograd. Stojadinović Jovanović, Sandra (2008a), Impact of foreign direct investments on trade flows, in: Transitional Challenges of EU Integration and Globalization, International Conference of the School of Economics and Business, Sarajevo, Bosnia nad Herzegovina, October 7-10, 2008, pp. 1-8. UNCTAD (2008), World Investment Report 2008, UN, New York and Geneva. United Nations, European Commission, IMF, OECD, UNCTAD and WTO (2002), Manual on Statistics of International Trade in Services, Geneva, Luxembourg, New York, Paris, Washington, D.C. 192
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PART III:<br />
REFERENCES<br />
Bjelić, Predrag (2009), Statistika o aktivnosti filijala transnacionalnih kompanija u<br />
Evropskoj uniji, Evropsko zakonodavstvo, Institut za međunarodnu politiku i privredu,<br />
Beograd, forthcoming.<br />
Bjelić, Predrag (2008), Međunarodna trgovina, Ekonomski fakultet, Beograd.<br />
Bjelić, Predrag (2008a), Fondations of the New Concept of International Trade, in:<br />
International Conference of School of Economics and Business in Sarajevo (ICES<br />
2008), Proceedings, School of Economics and Business, University of Sarajevo, Bosnia<br />
and Herzegovina.<br />
European Communities (2007), Regulation (EC) No 716/2007 of the European Parliament<br />
and of the Council of 20 June 2007 on Community statistics on the structure and activity of<br />
foreign affiliates, OJ L 171, 29.06.2007, pp. 17-31.<br />
Eurostat ”Foreign-controlled enterprises in the EU” Eurostat Statistics in Focus, 30/2008,<br />
Office for Official Publication of the European Communities, 13.02.2008.<br />
OECD (2005), OECD Handbook on Economic Globalisation Indicators, Paris.<br />
OECD (2008), OECD Benchmark Definition of Foreign Direct Investment, 4th edition,<br />
April 2008, Paris.<br />
Stojadinović Jovanović, Sandra (2009), Uredba 716/2007 Evropskog parlamenta i Saveta<br />
o statistici Zajednice o strukturi i aktivnosti stranih filijala, Evropsko zakonodavstvo,<br />
Institut za međunarodnu politiku i privredu, Beograd, forthcoming.<br />
Stojadinović Jovanović, Sandra (2008), Transnacionalizacija međunarodne trgovine,<br />
Prometej, Beograd.<br />
Stojadinović Jovanović, Sandra (2008a), Impact of foreign direct investments on trade<br />
flows, in: Transitional Challenges of EU Integration and Globalization, International<br />
Conference of the School of Economics and Business, Sarajevo, Bosnia nad Herzegovina,<br />
October 7-10, 2008, pp. 1-8.<br />
UNCTAD (2008), World Investment Report 2008, UN, New York and Geneva.<br />
United Nations, European Commission, IMF, OECD, UNCTAD and WTO (2002), Manual<br />
on Statistics of International Trade in Services, Geneva, Luxembourg, New York, Paris,<br />
Washington, D.C.<br />
192
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