The document provides an overview of regional economic integration efforts in Asia, North America, and Europe. It discusses several trade agreements and organizations, including the European Union, NAFTA, ASEAN, SAFTA, APEC, and SICA. The key points are:
1) The European Union has been the most developed model of regional integration but was shaken by the recent economic crisis.
2) Asia's existing free trade agreements are largely limited to tariff cuts and have barely addressed non-tariff barriers.
3) Asian regional integration is unlikely to come from top-down initiatives but from renewed unilateral liberalization beyond just border barriers.
The document discusses different types of regional economic integration agreements including free trade areas, customs unions, common markets, and economic unions. It then provides examples of regional integration in Europe through the European Union and in the Americas through agreements like NAFTA, MERCOSUR, and attempts to create a Free Trade Area of the Americas. The benefits and challenges of regional integration are also examined.
This document provides an overview of regional economic integration agreements. It discusses the objectives of economic integration such as strengthening political ties and improving bargaining power. It describes different levels of integration from free trade areas to economic unions. Examples of regional agreements discussed include the European Union, NAFTA, MERCOSUR, and ASEAN. The EU eliminated trade barriers and allowed free movement of goods, services, and factors of production. NAFTA achieved trade liberalization between the US, Canada, and Mexico. Regional agreements in Latin America and Southeast Asia aimed to accelerate economic development among developing countries.
Regional economic integration refers to agreements between countries in a geographic region to reduce trade barriers and promote free trade. There are different levels of economic integration ranging from free trade areas to political unions. The European Union is an example of an imperfect economic union working towards partial political union. NAFTA is a free trade area between the US, Canada, and Mexico that has both benefits and criticisms. Other regional trade blocs discussed include ASEAN, APEC, MERCOSUR, and proposals for a Free Trade Area of the Americas. Regional integration presents both opportunities and threats for international managers to consider.
Regional Economic Integration in European Countrieseddie aly
The European Union (EU) was formed to promote peace, cooperation, and economic prosperity in Europe following World War 2. It has grown to include 27 member states with various levels of economic and political integration. The EU's main institutions that govern and coordinate policies are the European Council, European Commission, European Parliament, and European Court of Justice. The EU represents the highest level of regional economic integration, functioning as a single market with a common currency (euro), centralized monetary and fiscal policies, and increasing political union. While the EU has had economic benefits, issues of sovereignty, overregulation, and immigration levels have prompted debate around further expansion and Britain's membership in the bloc.
egional economic integration
,
levels of economic integration
,
free trade area b) customs union c) common marke
,
the political case for regional integration
,
the economic case for regional integration
,
mercosur
,
regional economic integration in europe
,
evolution of the european union
,
impediments to integration
,
the case against regional integration
,
the andean community
,
classroom performance system
,
the north american free trade agreement
,
asia-pacific economic cooperation
,
regional economic integration elsewhere
,
regional trade blocs in africa
,
political structure of the european union
,
enlargement of the european union
,
the single european act
,
the establishment of the euro
,
central american common market and caricom
The document discusses various forms and examples of regional economic integration agreements between groups of countries. It outlines different levels of integration from free trade areas to economic unions. Regional integration aims to reduce trade barriers and stimulate economic growth. However, it can also lead to trade diversion and costs from adjusting to more open markets. The EU and NAFTA are two prominent examples of regional integration discussed in the document.
The document discusses economic integration, including its various forms and levels. It defines preferential trade agreements, free trade areas, customs unions, common markets, and economic unions. It also outlines some benefits of economic integration like increased trade and foreign investment. Examples of economic unions discussed include the European Union, NAFTA, EFTA, and APEC. Potential problems with integration are also noted, such as costs of a single currency and differences between member economies.
Regional economic groups allow countries in a particular region to establish common trade rules and regulations. This promotes trade by reducing barriers between member countries through free trade areas and customs unions. When countries form regional trade groups, it can increase national income through increased trade (trade creation) but may also divert trade away from non-member countries (trade diversion). Regional groups have grown in recent decades and now account for over a third of global trade. They are seen as important forms of increasing trade between both developed and developing countries to support economic growth.
The document discusses different types of regional economic integration agreements including free trade areas, customs unions, common markets, and economic unions. It then provides examples of regional integration in Europe through the European Union and in the Americas through agreements like NAFTA, MERCOSUR, and attempts to create a Free Trade Area of the Americas. The benefits and challenges of regional integration are also examined.
This document provides an overview of regional economic integration agreements. It discusses the objectives of economic integration such as strengthening political ties and improving bargaining power. It describes different levels of integration from free trade areas to economic unions. Examples of regional agreements discussed include the European Union, NAFTA, MERCOSUR, and ASEAN. The EU eliminated trade barriers and allowed free movement of goods, services, and factors of production. NAFTA achieved trade liberalization between the US, Canada, and Mexico. Regional agreements in Latin America and Southeast Asia aimed to accelerate economic development among developing countries.
Regional economic integration refers to agreements between countries in a geographic region to reduce trade barriers and promote free trade. There are different levels of economic integration ranging from free trade areas to political unions. The European Union is an example of an imperfect economic union working towards partial political union. NAFTA is a free trade area between the US, Canada, and Mexico that has both benefits and criticisms. Other regional trade blocs discussed include ASEAN, APEC, MERCOSUR, and proposals for a Free Trade Area of the Americas. Regional integration presents both opportunities and threats for international managers to consider.
Regional Economic Integration in European Countrieseddie aly
The European Union (EU) was formed to promote peace, cooperation, and economic prosperity in Europe following World War 2. It has grown to include 27 member states with various levels of economic and political integration. The EU's main institutions that govern and coordinate policies are the European Council, European Commission, European Parliament, and European Court of Justice. The EU represents the highest level of regional economic integration, functioning as a single market with a common currency (euro), centralized monetary and fiscal policies, and increasing political union. While the EU has had economic benefits, issues of sovereignty, overregulation, and immigration levels have prompted debate around further expansion and Britain's membership in the bloc.
egional economic integration
,
levels of economic integration
,
free trade area b) customs union c) common marke
,
the political case for regional integration
,
the economic case for regional integration
,
mercosur
,
regional economic integration in europe
,
evolution of the european union
,
impediments to integration
,
the case against regional integration
,
the andean community
,
classroom performance system
,
the north american free trade agreement
,
asia-pacific economic cooperation
,
regional economic integration elsewhere
,
regional trade blocs in africa
,
political structure of the european union
,
enlargement of the european union
,
the single european act
,
the establishment of the euro
,
central american common market and caricom
The document discusses various forms and examples of regional economic integration agreements between groups of countries. It outlines different levels of integration from free trade areas to economic unions. Regional integration aims to reduce trade barriers and stimulate economic growth. However, it can also lead to trade diversion and costs from adjusting to more open markets. The EU and NAFTA are two prominent examples of regional integration discussed in the document.
The document discusses economic integration, including its various forms and levels. It defines preferential trade agreements, free trade areas, customs unions, common markets, and economic unions. It also outlines some benefits of economic integration like increased trade and foreign investment. Examples of economic unions discussed include the European Union, NAFTA, EFTA, and APEC. Potential problems with integration are also noted, such as costs of a single currency and differences between member economies.
Regional economic groups allow countries in a particular region to establish common trade rules and regulations. This promotes trade by reducing barriers between member countries through free trade areas and customs unions. When countries form regional trade groups, it can increase national income through increased trade (trade creation) but may also divert trade away from non-member countries (trade diversion). Regional groups have grown in recent decades and now account for over a third of global trade. They are seen as important forms of increasing trade between both developed and developing countries to support economic growth.
Regional economic integration refers to cooperation between countries in a particular region to reduce trade barriers and promote economic growth. There are various types of integration arrangements, ranging from free trade areas to economic unions. Free trade areas only remove barriers between members, while customs unions also implement common external trade policies. Common markets and economic unions involve deeper integration, including coordinated economic policies and movement of labor/capital. Regional integration can increase trade and investment opportunities, but may also divert trade away from non-member nations or cause disruptions as production and employment shifts between members.
Econ01. Economic of Trade and Economic of Integrationaeronchua
This Powerpoint was our report for Principles of Economics covering the topics Economic of Trade and Economic of Integration with the ASEAN Economic Integration 2015.
This is taken from various books and internet articles.
Not for commercial use and for personal reference only.
Thank you!
"That in all things, God may be Glorified"
This document outlines the agenda for a class that discusses various economic integration agreements including ASEAN, EU, NAFTA, and WTO. It includes topics such as the history and development of these organizations, their key principles and agreements, benefits and challenges of economic integration, and case studies of specific integration regions. Students will learn about the member countries, institutions, and goals of integration bodies. They will also analyze trade data, barriers, and impacts of integration between countries and regions through group assignments, presentations, and discussion.
Regional Economic Integration (REI) refers to the commercial policy of discriminatively reducing or eliminating trade barriers only between the states joining together.
Regional economic groups eliminate or reduce trade tariffs (and other trade barriers) among the Partner States while maintaining tariffs or barriers for the rest of the world (non-member countries).
Geographical proximity, cultural, historical, and ideological similarities, competitive or complementary economic linkages, and a common language among the Partner States are importantly required for effective economic integration.
The aim of economic integration is to lessen costs for both consumers and producers, in addition to increase trade between the countries taking part in the agreement.
A primary economic objective of integration is to raise:
a) real output and income of the participants
&
b) rate of growth
by increasing specialization and competition by facilitating desirable structural (linkages) changes.
This chapter discusses global and regional economic integration, including the evolution of key organizations like the GATT and WTO. It outlines the objectives of studying this topic, such as understanding the advantages and disadvantages of economic integration efforts. Examples provided include NAFTA in North America and integration in Europe, Asia Pacific, and Africa. Debates are presented around whether regional integration helps or hinders broader global integration.
The document discusses regional economic integration and different levels of integration between countries. It defines various types of integration agreements like preferential trade areas, free trade areas, customs unions, common markets, and economic unions. It explains that preferential trade areas provide lower trade barriers between member countries than with non-members, while free trade areas remove all trade barriers but maintain external barriers. Customs unions remove internal barriers and adopt a common external trade policy. Common markets allow free movement of goods, services, labor and capital. Economic unions require harmonized economic and fiscal policies along with a common currency. Regional integration can bring economic and political benefits like increased trade, investment, market size and cooperation, but may also result in trade diversion and shifts in employment.
The document discusses the importance of knowledge of international business for management students. A student pursuing a management degree may find themselves placed in a foreign country after graduation, so understanding international business helps prepare them mentally for an unfamiliar environment abroad. Regional economic integration is also discussed as an important topic within an international business course.
Economic integration involves reducing trade barriers between countries through international agreements or regional partnerships. The main approaches are multilateral cooperation under the WTO or smaller regional blocs. Integration provides benefits like increased trade opportunities and employment but can also divert trade away from non-member states. Deeper integration involves moving from preferential trade areas and free trade zones to customs unions and common markets with coordinated economic policies and freedom of movement. The European Union represents the most integrated model as both an economic and political union.
Marketing (oral)regional economic and politicalintegrationjuanconderevuelta2
The document discusses different levels and types of regional economic and political integration. It outlines common determinants that drive integration such as shared culture, history, and proximity. Integration can range from bilateral/multilateral agreements and free trade areas to deeper integration like customs unions, common markets, monetary unions, and political unions. Examples provided include the EU, NAFTA, ASEAN, and African economic communities.
Economic integration and levels of integrationMahadi Hasan
The document discusses different levels of economic integration globally, including free trade areas, customs unions, common markets, economic unions, and political unions. It provides examples for each type of integration, such as NAFTA for a free trade area and the European Union as both an economic and political union. The highest level of integration is a political union, where members subordinate national political interests to a multistate organization.
This document discusses regional integration among developing countries from a social constructivist perspective. It first outlines the key ideas of social constructivism in international relations, namely that the international system exists through intersubjective ideas and can change as ideas change. It then uses the case study of regional integration to discuss how integration has four stages and aims to reduce discrimination, while cooperation involves concerted actions in areas of common interest. Regarding regional integration among developing countries, the document discusses how it was seen as promoting development but largely failed to increase intra-regional trade or serve as an alternative to trade with industrialized nations. It concludes that while regional integration encouraged some reforms, trade benefits were not achieved and a shift toward cooperation may be more effective.
The document discusses regional economic integration and its various stages. It provides examples of major trade blocs like NAFTA, ASEAN, MERCOSUR, and the EU. The stages of integration range from free trade areas with no tariffs between members but individual external tariffs, to customs unions with unified external tariffs, to common markets that also allow free movement of capital and labor. Deeper integration involves common currencies and unified economic policies. Both trade creation and diversion effects as well as other advantages and disadvantages are discussed in relation to economic integration.
The document discusses different levels of economic integration between countries including free trade areas, customs unions, common markets, economic unions, and political unions. It provides examples of economic integrations in different regions: the European Union integrating most of Western Europe, NAFTA integrating Canada, Mexico, and the US, Mercosur integrating South American countries, ASEAN and APEC in Asia, and economic communities in Africa. The goals are generally to reduce barriers to trade and movement of goods, services, and factors of production to promote regional economic cooperation and growth.
Information related to Regional Economic Integration. Trade policies, Pros, and Cons of International Business, ShankerDev Campus, Economy, and Finance.
This document discusses economic integration at three levels - global, regional, and bilateral. It outlines four stages of economic integration: free trade areas, customs unions, common markets, and economic unions. Free trade areas eliminate internal tariffs but maintain external tariffs, while customs unions have common external tariffs. Common markets integrate free movement of goods, services, capital and labor. Economic unions coordinate fiscal and monetary policy in addition to a common market. The document also covers some economic effects like trade creation and diversion, as well as issues like trade deflection and national sovereignty.
Economic integration involves reducing trade barriers between countries to lower costs for consumers and producers and increase trade. It creates advantages like trade creation and new employment opportunities but also disadvantages like trade diversion and loss of national sovereignty. When a country joins a trade bloc, small businesses can face increased competition, labor shortages, and inability to obtain quality imports. Governments can help by reducing import quotas and ensuring access to short-term financing to address deficiencies. They must monitor the impact on businesses and aim for the minimum level of involvement.
The document discusses trade agreements and regional trade agreements. It provides examples of major regional trade agreements like the EU, NAFTA, and ASEAN. It also explains different levels of economic integration between countries, from free trade areas to customs unions and single markets. A customs union like the EU abolishes tariffs between members but sets a common external tariff. It can lead to both trade creation and trade diversion effects.
Cross national cooperation and agreements pptSachin Bohra
The document discusses cross-national cooperation through various international and regional trade agreements and economic integration efforts. It describes the World Trade Organization (WTO) and its role in facilitating global free trade. Various types and examples of regional economic integration are also outlined, including the European Union, NAFTA, and ASEAN. The key effects and structures of economic integration agreements are summarized.
This document discusses international economic integrations and trade agreements. It begins by outlining the learning objectives, which include providing an overview of economic integration and discussing major trade groups. It then defines different forms of integration like preferential trade agreements, free trade agreements, customs unions, common markets, and economic unions. Major regional trade agreements discussed include the European Union, NAFTA, MERCOSUR, GCC, APEC, and ASEAN. India's participation in agreements like SAFTA, CECA with Singapore, ASEAN framework agreement, and BIMSTEC are also summarized. The document provides high-level information on concepts, definitions, objectives and examples of international economic integrations and trade agreements.
The document discusses the history and goals of regional integration in the Caribbean through CARICOM. It outlines previous attempts at integration through the British West Indies Federation in 1958 and CARIFTA in 1965. CARICOM was established in 1973 to promote political, economic, and functional cooperation among Caribbean countries. Its main objectives are improving economic development through free trade and coordinating policies across member states.
Regional Economic Integration (REI) refers to the commercial policy of discriminatively reducing or eliminating trade barriers only between the states joining together.
Regional economic groups eliminate or reduce trade tariffs (and other trade barriers) among the Partner States while maintaining tariffs or barriers for the rest of the world (non-member countries).
Geographical proximity, cultural, historical, and ideological similarities, competitive or complementary economic linkages, and a common language among the Partner States are importantly required for effective economic integration.
Regional economic integration in Africa traces back to 1910 with the formation of Southern African Customs Union (SACU) by the countries of Botswana, Lesotho, Namibia, Swaziland and South Africa. Other main economic arrangements include East African Community (EAC), Southern African Development Community (SADC), the Economic Community of Central African States (ECCAS), Economic Community of West African States (ECOWAS), the Common Market for Eastern and Southern Africa (COMESA), Arab Maghreb Union (AMU) etc. Also there is the planned African Economic Community, whose treaty was signed in 1991 (the Abuja Treaty) and it is expected by 2025. All these efforts are aimed at unifying Africa, but, there has been limited success due to the various problems which the region is facing including the internal civil wars.
Regional economic integration in Africa has not been so effective and it faces some challenges including overlapping memberships due to the multiplicity of its economic communities.
The similarity and smallness of the African countries together with the competition between each other in the global market for the same products are some of the reasons responsible for the past lack of success in the economic integration in the continent.
Several attempts of regional economic integration in Africa have been put into place over time, however they have been ineffective in promoting trade and attracting Foreign Direct Investment (FDI) in the continent.
Relatively high external trade barriers and low resource complementarity between Partner States limit internal and external regional trade.
Small market size, poor transport facilities and high trading costs make it difficult for African countries to reap the potential benefits of economic integration.
Regional economic integration refers to agreements among countries in a geographic region to reduce and ultimately remove trade barriers. Different levels of integration exist, from free trade areas with no barriers to goods and services, to customs unions with common external trade policies, to economic and monetary unions with synchronized fiscal and monetary policies and a shared currency. While integration increases economic growth and political cooperation, it also risks loss of sovereignty and job losses as domestic industries become uncompetitive. The formation of the European Union sought to foster lasting peace and economic power in Europe following two world wars.
Regional economic integration refers to cooperation between countries in a particular region to reduce trade barriers and promote economic growth. There are various types of integration arrangements, ranging from free trade areas to economic unions. Free trade areas only remove barriers between members, while customs unions also implement common external trade policies. Common markets and economic unions involve deeper integration, including coordinated economic policies and movement of labor/capital. Regional integration can increase trade and investment opportunities, but may also divert trade away from non-member nations or cause disruptions as production and employment shifts between members.
Econ01. Economic of Trade and Economic of Integrationaeronchua
This Powerpoint was our report for Principles of Economics covering the topics Economic of Trade and Economic of Integration with the ASEAN Economic Integration 2015.
This is taken from various books and internet articles.
Not for commercial use and for personal reference only.
Thank you!
"That in all things, God may be Glorified"
This document outlines the agenda for a class that discusses various economic integration agreements including ASEAN, EU, NAFTA, and WTO. It includes topics such as the history and development of these organizations, their key principles and agreements, benefits and challenges of economic integration, and case studies of specific integration regions. Students will learn about the member countries, institutions, and goals of integration bodies. They will also analyze trade data, barriers, and impacts of integration between countries and regions through group assignments, presentations, and discussion.
Regional Economic Integration (REI) refers to the commercial policy of discriminatively reducing or eliminating trade barriers only between the states joining together.
Regional economic groups eliminate or reduce trade tariffs (and other trade barriers) among the Partner States while maintaining tariffs or barriers for the rest of the world (non-member countries).
Geographical proximity, cultural, historical, and ideological similarities, competitive or complementary economic linkages, and a common language among the Partner States are importantly required for effective economic integration.
The aim of economic integration is to lessen costs for both consumers and producers, in addition to increase trade between the countries taking part in the agreement.
A primary economic objective of integration is to raise:
a) real output and income of the participants
&
b) rate of growth
by increasing specialization and competition by facilitating desirable structural (linkages) changes.
This chapter discusses global and regional economic integration, including the evolution of key organizations like the GATT and WTO. It outlines the objectives of studying this topic, such as understanding the advantages and disadvantages of economic integration efforts. Examples provided include NAFTA in North America and integration in Europe, Asia Pacific, and Africa. Debates are presented around whether regional integration helps or hinders broader global integration.
The document discusses regional economic integration and different levels of integration between countries. It defines various types of integration agreements like preferential trade areas, free trade areas, customs unions, common markets, and economic unions. It explains that preferential trade areas provide lower trade barriers between member countries than with non-members, while free trade areas remove all trade barriers but maintain external barriers. Customs unions remove internal barriers and adopt a common external trade policy. Common markets allow free movement of goods, services, labor and capital. Economic unions require harmonized economic and fiscal policies along with a common currency. Regional integration can bring economic and political benefits like increased trade, investment, market size and cooperation, but may also result in trade diversion and shifts in employment.
The document discusses the importance of knowledge of international business for management students. A student pursuing a management degree may find themselves placed in a foreign country after graduation, so understanding international business helps prepare them mentally for an unfamiliar environment abroad. Regional economic integration is also discussed as an important topic within an international business course.
Economic integration involves reducing trade barriers between countries through international agreements or regional partnerships. The main approaches are multilateral cooperation under the WTO or smaller regional blocs. Integration provides benefits like increased trade opportunities and employment but can also divert trade away from non-member states. Deeper integration involves moving from preferential trade areas and free trade zones to customs unions and common markets with coordinated economic policies and freedom of movement. The European Union represents the most integrated model as both an economic and political union.
Marketing (oral)regional economic and politicalintegrationjuanconderevuelta2
The document discusses different levels and types of regional economic and political integration. It outlines common determinants that drive integration such as shared culture, history, and proximity. Integration can range from bilateral/multilateral agreements and free trade areas to deeper integration like customs unions, common markets, monetary unions, and political unions. Examples provided include the EU, NAFTA, ASEAN, and African economic communities.
Economic integration and levels of integrationMahadi Hasan
The document discusses different levels of economic integration globally, including free trade areas, customs unions, common markets, economic unions, and political unions. It provides examples for each type of integration, such as NAFTA for a free trade area and the European Union as both an economic and political union. The highest level of integration is a political union, where members subordinate national political interests to a multistate organization.
This document discusses regional integration among developing countries from a social constructivist perspective. It first outlines the key ideas of social constructivism in international relations, namely that the international system exists through intersubjective ideas and can change as ideas change. It then uses the case study of regional integration to discuss how integration has four stages and aims to reduce discrimination, while cooperation involves concerted actions in areas of common interest. Regarding regional integration among developing countries, the document discusses how it was seen as promoting development but largely failed to increase intra-regional trade or serve as an alternative to trade with industrialized nations. It concludes that while regional integration encouraged some reforms, trade benefits were not achieved and a shift toward cooperation may be more effective.
The document discusses regional economic integration and its various stages. It provides examples of major trade blocs like NAFTA, ASEAN, MERCOSUR, and the EU. The stages of integration range from free trade areas with no tariffs between members but individual external tariffs, to customs unions with unified external tariffs, to common markets that also allow free movement of capital and labor. Deeper integration involves common currencies and unified economic policies. Both trade creation and diversion effects as well as other advantages and disadvantages are discussed in relation to economic integration.
The document discusses different levels of economic integration between countries including free trade areas, customs unions, common markets, economic unions, and political unions. It provides examples of economic integrations in different regions: the European Union integrating most of Western Europe, NAFTA integrating Canada, Mexico, and the US, Mercosur integrating South American countries, ASEAN and APEC in Asia, and economic communities in Africa. The goals are generally to reduce barriers to trade and movement of goods, services, and factors of production to promote regional economic cooperation and growth.
Information related to Regional Economic Integration. Trade policies, Pros, and Cons of International Business, ShankerDev Campus, Economy, and Finance.
This document discusses economic integration at three levels - global, regional, and bilateral. It outlines four stages of economic integration: free trade areas, customs unions, common markets, and economic unions. Free trade areas eliminate internal tariffs but maintain external tariffs, while customs unions have common external tariffs. Common markets integrate free movement of goods, services, capital and labor. Economic unions coordinate fiscal and monetary policy in addition to a common market. The document also covers some economic effects like trade creation and diversion, as well as issues like trade deflection and national sovereignty.
Economic integration involves reducing trade barriers between countries to lower costs for consumers and producers and increase trade. It creates advantages like trade creation and new employment opportunities but also disadvantages like trade diversion and loss of national sovereignty. When a country joins a trade bloc, small businesses can face increased competition, labor shortages, and inability to obtain quality imports. Governments can help by reducing import quotas and ensuring access to short-term financing to address deficiencies. They must monitor the impact on businesses and aim for the minimum level of involvement.
The document discusses trade agreements and regional trade agreements. It provides examples of major regional trade agreements like the EU, NAFTA, and ASEAN. It also explains different levels of economic integration between countries, from free trade areas to customs unions and single markets. A customs union like the EU abolishes tariffs between members but sets a common external tariff. It can lead to both trade creation and trade diversion effects.
Cross national cooperation and agreements pptSachin Bohra
The document discusses cross-national cooperation through various international and regional trade agreements and economic integration efforts. It describes the World Trade Organization (WTO) and its role in facilitating global free trade. Various types and examples of regional economic integration are also outlined, including the European Union, NAFTA, and ASEAN. The key effects and structures of economic integration agreements are summarized.
This document discusses international economic integrations and trade agreements. It begins by outlining the learning objectives, which include providing an overview of economic integration and discussing major trade groups. It then defines different forms of integration like preferential trade agreements, free trade agreements, customs unions, common markets, and economic unions. Major regional trade agreements discussed include the European Union, NAFTA, MERCOSUR, GCC, APEC, and ASEAN. India's participation in agreements like SAFTA, CECA with Singapore, ASEAN framework agreement, and BIMSTEC are also summarized. The document provides high-level information on concepts, definitions, objectives and examples of international economic integrations and trade agreements.
The document discusses the history and goals of regional integration in the Caribbean through CARICOM. It outlines previous attempts at integration through the British West Indies Federation in 1958 and CARIFTA in 1965. CARICOM was established in 1973 to promote political, economic, and functional cooperation among Caribbean countries. Its main objectives are improving economic development through free trade and coordinating policies across member states.
Regional Economic Integration (REI) refers to the commercial policy of discriminatively reducing or eliminating trade barriers only between the states joining together.
Regional economic groups eliminate or reduce trade tariffs (and other trade barriers) among the Partner States while maintaining tariffs or barriers for the rest of the world (non-member countries).
Geographical proximity, cultural, historical, and ideological similarities, competitive or complementary economic linkages, and a common language among the Partner States are importantly required for effective economic integration.
Regional economic integration in Africa traces back to 1910 with the formation of Southern African Customs Union (SACU) by the countries of Botswana, Lesotho, Namibia, Swaziland and South Africa. Other main economic arrangements include East African Community (EAC), Southern African Development Community (SADC), the Economic Community of Central African States (ECCAS), Economic Community of West African States (ECOWAS), the Common Market for Eastern and Southern Africa (COMESA), Arab Maghreb Union (AMU) etc. Also there is the planned African Economic Community, whose treaty was signed in 1991 (the Abuja Treaty) and it is expected by 2025. All these efforts are aimed at unifying Africa, but, there has been limited success due to the various problems which the region is facing including the internal civil wars.
Regional economic integration in Africa has not been so effective and it faces some challenges including overlapping memberships due to the multiplicity of its economic communities.
The similarity and smallness of the African countries together with the competition between each other in the global market for the same products are some of the reasons responsible for the past lack of success in the economic integration in the continent.
Several attempts of regional economic integration in Africa have been put into place over time, however they have been ineffective in promoting trade and attracting Foreign Direct Investment (FDI) in the continent.
Relatively high external trade barriers and low resource complementarity between Partner States limit internal and external regional trade.
Small market size, poor transport facilities and high trading costs make it difficult for African countries to reap the potential benefits of economic integration.
Regional economic integration refers to agreements among countries in a geographic region to reduce and ultimately remove trade barriers. Different levels of integration exist, from free trade areas with no barriers to goods and services, to customs unions with common external trade policies, to economic and monetary unions with synchronized fiscal and monetary policies and a shared currency. While integration increases economic growth and political cooperation, it also risks loss of sovereignty and job losses as domestic industries become uncompetitive. The formation of the European Union sought to foster lasting peace and economic power in Europe following two world wars.
Rafiq Nawaz has over 7 years of experience in environment, health and safety management in the oil and gas and construction industries. He is currently a senior safety officer with Al Jaber Energy Services under Zadco at the Upper Zakum 750 offshore project in Abu Dhabi. He has extensive experience with risk assessment, job safety analysis, and health and safety compliance. Rafiq has training in NEBOSH, IOSH, OSHA and other safety certifications. He is skilled in developing and implementing health and safety programs to maintain safe work conditions.
To Advise, Communicate & Implement my Corporate Legal Obligation under the International Labor Organizations Nationally Ratified Conventions & Recommendations while Exercising Due Diligence on behalf of my client in Guiding Management to Attain Zero Incidents through Proactive Behavior’s in Accordance with the Local OH&S Act, Regulation & Code under a professional & moral code of ethics.
The document discusses various topics related to international trade such as the growth of international trade over time, protectionism versus free trade, and specific trade issues like the banana wars between the US and EU. It provides definitions of international trade and protectionism. Protectionism aims to restrict imports and protect local industries while free trade allows trade without government barriers. The document also notes both the benefits and criticisms of free trade, such as increased specialization but also potential job losses.
This document discusses three concepts related to international trade:
1. Trade deflection, which occurs when exporters divert goods through the country with the lowest external tariffs in a free trade area. This can harm other countries. Rules of origin help address this issue.
2. Trade creation, which happens when tariff removal in a customs union expands the domestic tariff-free market, benefiting consumers.
3. Trade diversion, which is a potential problem if countries must pay more due to a common external tariff, subsidizing inefficient industries and preventing imports from lower-cost partners outside the trade bloc.
Unit 2 international business 6th semester bbm notes pdfIndependent
This document provides information on various regional trade blocs and international organizations discussed in the International Business Unit 2 syllabus. It defines regional trade blocs and lists some examples. It also provides details on the formation and objectives of the European Union, ASEAN, OPEC, and OECD.
The document discusses the history of integration efforts among Caribbean nations, including the formation and dissolution of the West Indies Federation between 1958-1962. It formed with ten territories as members but faced disputes over taxation, financing, and freedom of movement that weakened it. A referendum in Jamaica supported withdrawing, and the Federation dissolved four years after forming due to lack of economic and political unity among members. Subsequent independence movements emerged for individual territories.
Crush by falling object
Immediate Action:
Barricade the lifting area and put signage
to avoid unauthorized entry.
Long Term Action:
Provide lifting supervisor to monitor the
lifting activity.
Immediate
1 week
23) Hazard:
No first aid box at the workplace
Risk:
Delay response in emergency
Consequence:
Deteriorate health condition
Immediate Action:
Provide first aid box at strategic location
Long Term Action:
Appoint first aider and conduct first aid
training
Immediate
2 months
24) Hazard:
No firefighting equipment
Risk:
The document discusses the Caribbean Community (CARICOM), established by the 1973 Treaty of Chaguaramas. CARICOM's objectives include improved living standards, employment, and coordinated economic development. It operates through meetings of Heads of Government and ministerial councils. The CARICOM Single Market and Economy aims to allow free movement of goods, services, people and capital within CARICOM countries to create a larger economic bloc. Implementation involves amending the Treaty of Chaguaramas and modifying national laws. Benefits include increased trade, production, employment and regional competitiveness.
Regional integration refers to the process where states enter agreements to enhance cooperation through regional institutions and rules. The key objectives of regional integration include strengthening trade, private sector development, economic growth, good governance, and reducing social exclusion. Regional trade agreements (RTAs) like the European Union (EU) and North American Free Trade Agreement (NAFTA) aim to reduce tariffs and trade barriers between member nations. Other RTAs discussed include the Association of Southeast Asian Nations (ASEAN), South Asian Association for Regional Cooperation (SAARC), and the South Asian Free Trade Area (SAFTA) which seeks to establish a free trade area across South Asia.
The document discusses regional integration in the Caribbean islands. It outlines the factors promoting regional integration such as similar histories, cultures, and goals. Several organizations were formed to foster regional integration, including Caricom. Benefits of regional integration and free trade include a larger variety of goods, improved quality of life, and increased cooperation. However, factors like different economic policies and currencies can hinder integration. Problems facing the Caribbean include high unemployment and not producing enough goods for export.
J McGinty_NEBOSH Certificate in Occupational Health & SafetyJames McGinty
The document contains 4 certificates and additional documents related to James McGinty achieving the NEBOSH Certificate in Occupational Health and Safety through ATC Risk Management Ltd. It includes:
1) Certificates showing James McGinty passed 3 units (Management of Health and Safety, Controlling Workplace Hazards, and Health and Safety Practical Application) on January 3, 2012 and was awarded the overall NEBOSH Certificate in Occupational Health and Safety.
2) A unit result notification and status report confirming James McGinty's unit marks and overall pass of the certificate.
3) Notes on grading criteria, qualifying periods, and the process for enquiries about results.
4) James
An industrial dispute is a conflict between management and workers regarding terms of employment that can result in industrial actions like strikes or lockouts. Disputes generally arise due to issues like poor wages or working conditions. They negatively impact both parties through lost production and profits for management, and lost wages and hardship for workers. Industrial disputes are classified as interest disputes involving negotiations over new terms, or grievance disputes regarding unfair treatment. Common causes of disputes include industrial factors, management attitudes, government failures, and union rivalries. Strikes are a legitimate worker action that temporarily halt work in order to pressure employers, while lockouts are management imposing work stoppages.
The document discusses key definitions and concepts from the Industrial Disputes Act, 1947 in India, including definitions of industrial disputes, strikes, lock-outs, layoffs, and the machinery established under the Act for resolving disputes. It provides details on authorities like Works Committees, Conciliation Officers, Boards of Conciliation, Courts of Inquiry, Labour Courts, and Industrial Tribunals that are involved in conciliation and adjudication of disputes. It also explains provisions around illegal strikes and lockouts as well as disputes in public utility services.
The document summarizes key aspects of the Industrial Disputes Act 1947 in India. It defines industrial disputes, outlines the objectives to promote industrial harmony, and describes the types of industrial disputes that can arise. It also explains the authorities and mechanisms established for resolving industrial disputes, including prohibitions on strikes and lockouts, voluntary arbitration, and adjudication through labor courts, tribunals, and national tribunals.
1) Industrial disputes mainly arise between employers and employees regarding employment issues like wages, hours, terms of employment.
2) Causes of industrial disputes include industrial factors like dismissal or wages; management attitude like unwillingness to negotiate; issues with government machinery; and other factors like political instability.
3) Preventive measures for industrial disputes include appointing welfare officers, establishing tripartite and bipartite bodies for consultation, implementing standing orders to regulate employment conditions, having grievance procedures to address employee issues, and engaging in collective bargaining between unions and management.
This document defines key terms related to occupational health, safety and welfare. It discusses health as protecting workers from illness caused by workplace materials, processes or procedures. Safety is defined as protecting workers from physical injury. Welfare involves providing facilities to maintain worker health and well-being. Other terms defined include occupational illness, environmental protection, accidents, near misses, dangerous occurrences, hazards, risks and more. Causes of accidents and injuries are distinguished. Reporting requirements and procedures are outlined.
This document provides an overview of international business concepts including:
1. Definitions of international business and the process of internationalization from domestic to global levels.
2. Key drivers of globalization including costs, technology, government policies, and competition.
3. Common approaches to international business such as ethnocentric, regiocentric, geocentric, and polycentric orientations.
4. Important theories of international trade including absolute advantage, comparative advantage, and the Heckscher-Ohlin theory.
This document summarizes research on home bias and European integration between 2010-2018. The research estimates home bias between 28 EU states using bilateral trade flows and estimates the border effect for trade between countries using a gravity model. It finds that home bias still exists within the EU but is decreasing over time, showing increased integration. Home bias also varies significantly between industries from 86.48 to 2.58 depending on ease of substitution between domestic and foreign goods.
Economic and monetary_union_and_the_euro_enEric Leurquin
The document discusses the economic and monetary union (EMU) and the euro in the European Union. It explains that EMU and a common currency, the euro, were established to foster stability, growth, and prosperity across Europe. The euro provides benefits to citizens, businesses, and the EU economy as a whole by facilitating trade, investment, and price stability. While all EU countries are part of EMU, not all use the euro as their currency yet. Strengthening economic governance is important for the stability and success of both the euro area and the EU economy following the recent financial crisis.
EURO - key considerations for future perspectiveLatvijas Banka
The document discusses key considerations regarding Latvia's adoption of the euro. It makes three main points:
1) Joining the eurozone is a logical step that supports further European economic and monetary integration. A common currency is needed to sustain a unified economic area without barriers to trade and capital flows.
2) Adopting the euro will be a catalyst for structural reforms and fiscal discipline in Latvia, helping exit the economic crisis and put the economy on solid footing.
3) Latvia's adoption of the euro signals its commitment to respecting common rules and acting in solidarity with other eurozone members to address fiscal policy issues and economic imbalances that threaten the euro's stability. Deeper fiscal and political integration may be
The European Union is an economic and political union of 27 member states located primarily in Europe. It began as a coal and steel community between six countries in 1950 and has since expanded to include most countries in Europe. The EU operates as a single market with free movement of goods, capital, services and people between member states. It aims to promote peace, prosperity and solidarity among its members. Key aspects of the EU include its single currency, the euro; economic cooperation and trade between members; and shared values around human rights, democracy and rule of law.
The European crisis and the challenge of efficient economic governance by Jue...Círculo de Empresarios
The document discusses the challenges of economic governance in the European Union and euro area. It argues that the euro area is not an optimal currency union due to too much economic divergence between member states. Past governance attempts relied on intergovernmental cooperation but lacked enforcement mechanisms. New governance agreements aim for more European oversight but it remains unclear if members will prioritize shared interests over national interests. The future of economic governance in Europe depends on effective implementation of new policies and cooperation between members.
Regional economic integration refers to agreements between countries in a geographic region to reduce trade barriers and promote free trade. There are different levels of economic integration ranging from free trade areas to political unions. The European Union is an example of an imperfect economic union with open trade and partially harmonized policies. NAFTA created a free trade area between the US, Canada, and Mexico. Other regional trade blocs discussed in the chapter include ASEAN, APEC, MERCOSUR, and proposals for further integration in the Americas and Africa. Regional integration presents both opportunities and threats for international businesses to consider.
The document summarizes information about the European Union (EU) and the Organization for Economic Co-operation and Development (OECD). It provides a brief history of how the EU formed and expanded over time. It also outlines some of the key impacts and benefits of the EU, such as establishing a single market and increasing trade. For the OECD, it describes its origins and membership, with the goal of promoting policies that improve economic and social well-being. The document concludes by summarizing three recent news articles about both organizations.
What measures have the EU (or member nations) taken to mitigate the .pdffathimafancyjeweller
What is the weighted average cost of capital for a corporation that finances an expansion project
using 35% retained earnings and the rest as debt capital? Assume the interest rates are 11% for
equity financing and 23% for debt financing. The weighted average cost of capital is 5785 0 %.
Solution
WACC = cost of equity x equity percentage + cost of debt x debt percentage
WACC = 23% x(1 - 35%) + 11% x 35% = 18.8%.
The Euro Crisis & New Jersey Business (2012)Marissa Pié
This document discusses the Euro Crisis and opportunities it presents for New Jersey businesses. It provides background on the formation of the European Union and adoption of the Euro currency. It then explains the causes and effects of the current Euro Crisis, including high unemployment across Europe. It argues the Crisis creates opportunities for New Jersey businesses to increase exports to Europe, especially if a new Transatlantic Trade and Investment Partnership is enacted to reduce trade barriers between the US and EU.
This document provides an overview of the European Union economy and single market. It discusses the background and size of the EU, economic integration within the EU including the customs union and single market built on four freedoms of movement. The single market aims to increase productivity and economic growth through increased trade, competition, economies of scale and specialization between member states. Over half of UK trade is with other EU countries, and the single market accounts for a large percentage of trade for many member states.
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The president of the European Central Bank gave a keynote speech in Riga, Latvia encouraging Latvia to join the eurozone. He highlighted three lessons learned since the euro's introduction: 1) the euro has proven to be a stable currency, 2) countries need sustainable economic convergence both before and after adopting the euro, and 3) completing the institutions of the Economic and Monetary Union is important. He expressed confidence that Latvia is ready to join the eurozone given its efforts to overcome difficulties since 2008 and maintain economic stability.
This document provides a summary of a report titled "Business in Europe: Researching Reforms for Sustainable Growth". The report explores political, economic, socio-cultural, technological, environmental, and legal themes affecting the effectiveness of the UK-EU relationship through interviews with key influencers. On economic themes, the report finds that investors view European countries individually rather than as a single bloc. It also finds support for expanding the common market, particularly in services. While regulations are seen as necessary and sometimes enabling innovation, views on further harmonization are mixed.
This document provides information about trade blocs including the European Union (EU), South Asian Association for Regional Cooperation (SAARC), Latin American Free Trade Association (LAFTA), and North American Free Trade Agreement (NAFTA). It discusses the history, objectives, members, and effectiveness of each trade bloc. For the EU specifically, it outlines the member states, objectives of integration, organizational structure, and evolution as a trading bloc over time. Factors that the EU must consider to survive and expand are also discussed.
Emerging market economies were major beneficiaries of the economic boom before 2007. More recently, they have become victims of the global financial crisis. Their future development depends, to a large extent, on global economic prospects. Today the global economy and the European economy are much more integrated and interdependent than they were ten or twenty years ago. Every country must recognize its limited economic sovereignty and must be prepared to deal with the consequences of global macroeconomic fluctuations.
The statistical data for 2009 provides a mixed picture with respect to the impact of the crisison various groups of countries and individual economies. On average, Central and Eastern Europe experienced a smaller output decline than the Euro area and the entire EU while the CIS, especially its European part, contracted more dramatically. However, there was a deep differentiation within each country group. Looking globally, richer countries, which are more open to trade and in which the banking sector plays a larger role and which rely more on external financing, suffered more than less sophisticated economies, which are less dependent on trade and credit (especially from external sources). With some exceptions, the previous good growth performance helped rather than handicapped countries in the CEE and CIS regions in the crisis year of 2009.
The post-crisis recovery has been rather modest and incomplete. It remains vulnerable to new shocks (like the Greek Fiscal crisis), the danger of sovereign default and other uncertainties. Full post-crisis recovery and increasing potential growth will require far going economic and institutional reforms on both national, regional (e.g., EU) and global levels.
Authored by: Marek Dąbrowski
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The document discusses Greece and its relationship with the Eurozone. It provides a brief history of Greece and reviews the modern problems that could force Greece to leave the Eurozone. This would have uncharted consequences for both Greece and the Eurozone. The document cautions that economic and political unification can have both advantages and disadvantages, such as giving up sovereign rights to a common cause, and difficulties from cultural differences in solving mutual problems.
Thinking of getting a dog? Be aware that breeds like Pit Bulls, Rottweilers, and German Shepherds can be loyal and dangerous. Proper training and socialization are crucial to preventing aggressive behaviors. Ensure safety by understanding their needs and always supervising interactions. Stay safe, and enjoy your furry friends!
Strategies for Effective Upskilling is a presentation by Chinwendu Peace in a Your Skill Boost Masterclass organisation by the Excellence Foundation for South Sudan on 08th and 09th June 2024 from 1 PM to 3 PM on each day.
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আমাদের সবার জন্য খুব খুব গুরুত্বপূর্ণ একটি বই ..বিসিএস, ব্যাংক, ইউনিভার্সিটি ভর্তি ও যে কোন প্রতিযোগিতা মূলক পরীক্ষার জন্য এর খুব ইম্পরট্যান্ট একটি বিষয় ...তাছাড়া বাংলাদেশের সাম্প্রতিক যে কোন ডাটা বা তথ্য এই বইতে পাবেন ...
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This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
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Introduction to AI for Nonprofits with Tapp NetworkTechSoup
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A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
1. Assignment on
Regional economic integration ASIA, USA, EU
Submitted by: S M Ruhan Submitted to:
ID: 2011110000171 Lecturer
Program: BBA School of Business Studies
Batch: 28th
)
2. Table of Content
Page
No.
Details
1. Cover Page
2. Table of content
3. Executive Summary
4. Introduction
5-8 The European Union Model, The State of the Union, Year Of Established, Objectives of the
European Union
9-13 The Fundamental Principles, Rights, List of countries, Current scenario
14-17 FTAs, APEC, ASEAN, SAFTA, The global and regional political context, Current
scenario
18-21 NAFTA, Objectives, Member countries
22-23 Objectives Of SICA, Year of Established, Members countries, Functions
24 Conclusion and References
3. Executive Summary
South Asia is the most malintegrated region in the world. And east and south Asia are
much less integrated in finance than they are in trade and FDI – due to highly restrictive
national policies governing financial markets.
Asia’s existing FTAs are “trade light”. They are largely limited to tariff cuts, but have
barely tackled non-tariff regulatory barriers in goods, services and investment, and are be
devilled by complex rules of origin requirements.
Asian regional institutions can be useful at the margin. They can be “chat forums” for
policy dialogue and exchange of information, gradually improve mutual surveillance and
transparency, promote trade facilitation and “best-practice” measures, and (at best)
cement unilateral liberalization and help to prevent its reversal in difficult times. But
more ambitious regional initiatives are inadvisable, indeed unachievable. Better,
therefore, to be pragmatic and realistic – and stick to terra firma.
Asia’s existing FTAs are “trade light”. They are largely limited to tariff cuts, but have
barely tackled non-tariff regulatory barriers in goods, services and investment, and are be
devilled by complex rules of origin requirements.
Asian regional integration is not likely to come about through top-down regional policy
initiatives. The key to future regional and global integration is renewed unilateral, non-
discriminatory liberalization, this time going beyond border barriers to tackle behind-the-
border regulatory barriers. That, more than anything else, would extend multinationals’
supply chains in the region, and open up regional markets for domestic producers and
consumers
An APEC FTA initiative has gone nowhere – entirely predictable given such a large, het-
erogeneous grouping. An east-Asian or a pan-Asian FTA, by discriminating against third
countries, would compromise regional production networks linked to global supply
chains. Moreover, huge economic gaps and enduring political differences will stymie
Asian regional integration for some time to come. As for regional monetary and financial
cooperation, it is embryonic, very soft and confined to East Asia.
4. Introduction
While the European Union (EU) has long been the most developed
model of regional integration, it was severely shaken by the recent
economic crisis, causing increasing doubts about the integration process.
The lack of a timely and coherent response to the euro crisis called into
question the integrity of the euro zone, whose structural and institutional
fault lines have been revealed by the financial crisis. These doubts
coincide with dramatic changes in the global economic order involving
the relative decline of the EU and United States and the rise of Asia. The
likely economic adjustments are already threatening social cohesion and
political stability in Europe. The crisis has temporarily weakened the
EU's status as a model for regional integration, but as the EU recovers its
confidence, as it always has after previous crises, it will continue to be
the leading example for other efforts at regional integration.
Past efforts at regional integration have often focused on removing
barriers to free trade in the region, increasing the free movement of
people, labor, goods, and capital across national borders, reducing the
possibility of regional armed conflict (for example, through Confidence
and Security-Building Measures), and adopting cohesive regional
stances on policy issues, such as the environment, climate change and
migration.
5. The European Union Model
Since the early 1950s, the EU has been a pioneer in regional integration. The most important
principles underlying the success of the EU project include:
– Visionary politicians, such as Robert Schuman of France and Konrad Adenauer of Germany,
who conceived of a new form of politics based on the supranational "community method" rather
than the traditional balance-of-power model. Support from the United States was also crucial in
the early years.
– Leadership generated by the Franco-German axis. Despite many problems, Paris and Berlin
have been and remain the driving force behind European integration.
– The political will to share sovereignty and construct strong, legally based, common institutions
to oversee the integration project.
– A consensus approach combined with solidarity and tolerance. The EU approach is based on
not isolating any member state if they have a major problem (such as Greece in the most recent
crisis), hesitance to move forward with policies until the vast majority of member states are
ready, and a willingness to provide significant financial transfers to help poorer member states
catch up with the norm.
These four tenets have guided the EU well over the years and enabled the institutions to survive
many crises, from French president Charles de Gaulle's "empty chair" tactic of withdrawing
French representatives from EU political bodies in protest of moves to introduce qualified
majority voting (QMV) to failed referendums on new treaties in a number of member states,
including rejection of the Constitutional Treaty by France and the Netherlands in 2005 and the
Lisbon Treaty by Ireland in 2008. More recently, the EU has adopted a more flexible approach
resulting in a multi-speed Europe with several tiers of integration. For example, not all member
states are in the eurozone, or in the Schengen passport-free zone; this arrangement has allowed
some of the more Euro-skeptic countries such as the United Kingdom to opt out of certain
obligations. Nevertheless, the core tenet of the EU is readiness to share sovereignty and operate
through strong common institutions
6. The State of the Union
Compared to most other regions of the world, the EU is a haven of peace, prosperity, and
security. Following the global economic crisis, however, there are several major challenges
facing the EU that, if not tackled with urgency and determination, could threaten the entire
European project. Namely, the EU has grown and integrated rapidly without commensurate
strengthening of its political and economic institutions. The emerging gap between necessary
coordination and institutional capacity in the EU suggests a lesson for other regional groupings if
and when they arrive at later stages of the integration process.
The first challenge is increased fiscal coordination amid a worsening economic outlook. The EU
needs to cleanse the financial system and follow through on austerity measures introduced by
almost all member states. The situation in late summer 2010 is less critical than it appeared in the
spring, when many doomsayers were predicting the collapse of the euro and even suggesting the
EU might break up. The major risk today is the continuing fragility of the economies of some
euro zone member states such as Greece, Spain, and Portugal, and the possibility of renewed
speculation in the financial markets. Although there are some positive signs of economic
recovery in Europe, many economists continue to warn of a possible "double dip" recession and
the likely impact of the ongoing problems of many European banks. While most passed the
"stress tests" at the end of July 2010, there was broad agreement that these tests were not as
strenuous as they could have been.
The European Union (EU) is an economic and political union of 28 member states that are
located primarily in Europe. The EU operates through a system of supranational independent
institutions and intergovernmental negotiated decisions by the member states.[14][15]
Institutions of
the EU include the European Commission, the Council of the European Union, the European
Council, the Court of Justice of the European Union, the European Central Bank, the Court of
Auditors, and the European Parliament. The European Parliament is elected every five years by
EU citizens.
The EU traces its origins from the European Coal and Steel Community (ECSC) and the
European Economic Community (EEC), formed by the Inner Six countries in 1951 and 1958,
respectively. In the intervening years the community and its successors have grown in size by the
accession of new member states and in power by the addition of policy areas to its remit. The
Maastricht Treaty established the European Union under its current name in 1993. The latest
major amendment to the constitutional basis of the EU, the Treaty of Lisbon, came into force in
2009.
The EU has developed a single market through a standardised system of laws that apply in all
member states. Within the Schengen Area (which includes 22 EU and 4 non-EU states) passport
controls have been abolished. EU policies aim to ensure the free movement of people, goods,
services, and capital, enact legislation in justice and home affairs, and maintain common policies
on trade, agriculture, fisheries, and regional development.
7. Year Of Established:
The following visionary leaders inspired the creation of the European Union we
live in today. Without their energy and motivation we would not be living in the
sphere of peace and stability that we take for granted. From resistance fighters to
lawyers, the founding fathers were a diverse group of people who held the same
ideals: a peaceful, united and prosperous Europe. Beyond the founding fathers
described below, many others have worked tirelessly towards and inspired the
European project. This section on the founding fathers is therefore a work in
progress.
The Objectives of the European Union
The European Treaty was put in place with a host of major objectives. Each
objective is designed to improve quality of life throughout Europe. There is also a
section on foreign policy and what the Union hopes to achieve throughout the
world.
The European Union uses it’s objectives to help guide the union and put necessary
practices into place. You can continue reading to find out more.
The main objectives of the European Union is to promote peace, along with
ensuring it’s people’s well-being and maintaining the values of the Union.
Major Objectives Included in Union
The Union works hard to follow it’s objectives including freedom and security
with justice for all residents. They work to ensure a free and undistorted
competition and a sustainable development through price stability and economic
growth. Finding information about the Union`s easy on line, do a search the same
as you would for Scottish Trust Deed or st. louis real estate.
Other major objectives of the union include ensuring full employment, improving
environmental quality and technological advancement. They work to fight
discrimination, promote social justice and child protection rights.
You can think of the European Union as a muscle maximizer as they safeguard
cultural heritage throughout the European areas while working hard to achieve
their objectives.
8. Foreign Objectives
When putting the European Treaty in place the objectives were not solely
dedicated to Europe, they worked hard on a foreign policy as well, which is
worked at on a daily basis.
Their foreign policy ensures fair trade. They want to eradicate poverty throughout
the world while protecting human rights. They want to develop an international
law, a sustainable environment and a sustainable development between countries
while promoting peace.
This policy has not just been written down on a piece of paper and have lab rats
following the rules. These are thought out to not only promote the well-being of
people residing within Europe, but enable these people to work with other
countries whether it’s through trade or working to improve the quality of life in
suffering areas.
If you go on line and search for torn hill or Qui bids, chances are you won’t find
anything about the European Unions objectives there, but they do play a part,
through these sites they offer free trade and fair trade throughout the world.
Moving Forward
Many countries are happy working with the European Union as they work towards
their objectives, using them as guidelines in the daily development of the area.
Europe has close ties to America and other countries where they import and export
goods, work together to develop suffering areas and form a sustainable
environment ensuring our children have a safe place to grow up in the future.
Through these European Union objectives, prime ministers and presidents are able
to work together to develop the ideals that the Union is working towards. Through
technological advancements the country will be able to enjoy a stable infrastructure
where they can promote their stable prices and enjoy economic growth.
( http://www.jidtunisie.net/2012/09/the-major-objectives-of-the-european-union/ )
9. THE VALUES OF THE UNION
The Union is founded on the values of respect for human dignity, liberty, democracy, equality,
the rule of law and respect for human rights, including the rights of persons belonging to
minorities. These values, which are set out in Article I-2, are common to the Member States.
Moreover, the societies of the Member States are characterized by pluralism, non-discrimination,
tolerance, justice, solidarity and equality between women and men. These values play an
important role, especially in two specific cases. Firstly, under the procedure for accession set out
in Article I-58, any European State wishing to become a member of the Union must respect these
values in order to be considered eligible for admission. Secondly, failure by a Member State to
respect these values may lead to the suspension of that Member State's rights deriving from
membership of the Union
In comparison with the existing Treaties, the Constitution has included new values, notably
human dignity, equality, the rights of minorities and the characterization of the values upheld by
the societies of the Member States.
THE FUNDAMENTAL PRINCIPLES
Article I-4 of the Constitution guarantees the free movement of persons, goods, services and
capital within the Union (the famous "four freedoms") and strictly prohibits any discrimination
on grounds of nationality.
As regards relations between the Union and the Member States, the Constitutional Treaty brings
together the relevant provisions of the existing Treaties in Article I-5, in particular the obligation
to respect the national identities and the fundamental political and constitutional structures of the
Member States. The principle of loyal cooperation is also included in this Article.
Article I-6 of the Constitutional Treaty is devoted to Union law. It lays down the principle of the
primacy of the law of the European Union over the law of the Member States. This principle,
which has been developed by the Court of Justice in its case-law, has long been recognised to be
a basic principle and a key aspect of the functioning of the Union. The Constitution simply gives
it a higher profile by incorporating it into a key part of the Treaty.
Article I-7 confers on the European Union legal personality. Following the merger of the
European Community and the European Union, the new Union will therefore have the right to
conclude international agreements , in the same way as the European Community can today, but
without compromising the division of competences between the Union and the Member States.
10. THE SYMBOLS OF THE UNION
Article I-8 lists the symbols of the Union:
• the flag of the Union, which is a circle of twelve gold stars on a blue background;
• the anthem of the Union, which is based on the 'Ode to Joy' from the Ninth Symphony by
Ludwig van Beethoven;
• the motto of the Union, which is 'United in diversity';
• the currency of the Union, which is the euro;
• 9 May, which is celebrated throughout the Union as Europe Day, in memory of the 1950
declaration by Robert Schuman, who initiated the European integration project.
The Constitution does not create new symbols. Rather, it takes the symbols that are already used
by the EU and are familiar to ordinary citizens and gives them constitutional status.
FUNDAMENTAL RIGHTS
As regards the protection of fundamental rights, the Constitution makes significant advances.
Article I-9 of the Constitutional Treaty reproduces the guarantee of fundamental rights provided
in the EU Treaty and refers to the European Convention for the Protection of Human Rights and
Fundamental Freedoms (ECHR) and to the constitutional traditions common to the Member
States. This Article also opens the way for the Union to seek formal accession to the ECHR.
Fundamental rights therefore form part of Union law as general principles.
A protocol annexed to the Constitution provides that the accession of the Union to the ECHR
must preserve the specific characteristics of the Union and Union law and not affect the specific
situation of Member States in relation to the ECHR. Moreover, a declaration annexed to the
Final Act of the Intergovernmental Conference (IGC) notes the existence of a regular dialogue
between the Court of Justice of the European Union and the European Court of Human Rights,
which could be reinforced when the Union accedes to that Convention.
In addition, the Constitutional Treaty includes the Charter of Fundamental Rights, which was
solemnly proclaimed at the Nice European Council in December 2000, in Part II of the
Constitution. The European Union therefore acquires for itself a catalogue of fundamental rights
which will be legally binding not only on the Union, its institutions, agencies and bodies, but
also on the Member States as regards the implementation of Union law. The inclusion of the
Charter in the Constitution does not compromise the division of competences between the Union
and the Member States.
The inclusion of the Charter in the Constitutional Treaty will make it more visible to all citizens,
who will be better informed of their rights. The Charter also contains additional rights not
contained in the European Convention for the Protection of Human Rights and Fundamental
11. Freedoms, such as workers' social rights, data protection, bioethics or the right to good
administration.
A GROWING COMMUNITY – THE FIRST ENLARGEMENT (1970 – 1979)
Denmark, Ireland and the United Kingdom join the European Union on 1 January 1973, raising
the number of member states to nine. The short, yet brutal, Arab-Israeli war of October 1973
result in an energy crisis and economic problems in Europe. The last right-wing dictatorships in
Europe come to an end with the overthrow of the Salazar regime in Portugal in 1974 and the
death of General Franco of Spain in 1975. The EU regional policy starts to transfer huge sums to
create jobs and infrastructure in poorer areas. The European Parliament increases its influence in
EU affairs and in 1979 all citizens can, for the first time, elect their members directly.
THE CHANGING FACE OF EUROPE - THE FALL OF THE BERLIN WALL (1980 –
1989)
The Polish trade union, Solidarność, and its leader Lech Walesa, become household names
across Europe and the world following the Gdansk shipyard strikes in the summer of 1980. In
1981, Greece becomes the 10th member of the EU and Spain and Portugal follow five years
later. In 1986 the Single European Act is signed. This is a treaty which provides the basis for a
vast six-year programme aimed at sorting out the problems with the free-flow of trade across EU
borders and thus creates the ‘Single Market’. There is major political upheaval when, on 9
November 1989, the Berlin Wall is pulled down and the border between East and West Germany
is opened for the first time in 28 years, this leads to the reunification of Germany when both East
and West Germany are united in October 1990.
A EUROPE WITHOUT FRONTIERS (1990 – 1999)
With the collapse of communism across central and eastern Europe, Europeans become closer
neighbours. In 1993 the Single Market is completed with the the 'four freedoms' of: movement of
goods, services, people and money. The 1990s is also the decade of two treaties, the ‘Maastricht’
Treaty on European Union in 1993 and the Treaty of Amsterdam in 1999. People are concerned
about how to protect the environment and also how Europeans can act together when it comes to
security and defence matters. In 1995 the EU gains three more new members, Austria, Finland
and Sweden. A small village in Luxembourg gives its name to the ‘Schengen’ agreements that
gradually allow people to travel without having their passports checked at the borders. Millions
of young people study in other countries with EU support. Communication is made easier as
more and more people start using mobile phones and the internet.
FURTHER EXPANSION (2000 – 2009)
12. The euro is the new currency for many Europeans. 11 September 2001 becomes synonymous
with the 'War on Terror' after hijacked airliners are flown into buildings in New York and
Washington. EU countries begin to work much more closely together to fight crime. The
political divisions between east and west Europe are finally declared healed when no fewer than
10 new countries join the EU in 2004, followed by two more in 2007. A financial crisis hits the
global economy in September 2008, leading to closer economic cooperation between EU
countries. The Treaty of Lisbon is ratified by all EU countries before entering into force on 1
December 2009. It provides the EU with modern institutions and more efficient working
methods.
A DECADE OF OPPORTUNITIES AND CHALLENGES (2010 – TODAY)
The new decade starts with a severe economic crisis, but also with the hope that investments in
new green and climate-friendly technologies and closer European cooperation will bring lasting
growth and welfare.
List of Countries - European Union (EU) 2013
Classification structure
List of Countries - European Union (EU) 2013 - Classification structure
Code Country Alpha-2 Alpha-3
040 Austria AT AUT
056 Belgium BE BEL
100 Bulgaria BG BGR
191 Croatia HR HRV
196 Cyprus CY CYP
203 Czech Republic CZ CZE
208 Denmark DK DNK
233 Estonia EE EST
246 Finland FI FIN
250 France FR FRA
276 Germany DE DEU
300 Greece GR GRC
13. List of Countries - European Union (EU) 2013 - Classification structure
Code Country Alpha-2 Alpha-3
348 Hungary HU HUN
372 Ireland, Republic of (EIRE) IE IRL
380 Italy IT ITA
428 Latvia LV LVA
440 Lithuania LT LTU
442 Luxembourg LU LUX
470 Malta MT MLT
528 Netherlands NL NLD
616 Poland PL POL
620 Portugal PT PRT
642 Romania RO ROU
703 Slovakia SK SVK
705 Slovenia SI SVN
724 Spain ES ESP
752 Sweden SE SWE
826 United Kingdom GB GBR
Function of EU
The overall function of the European Union is to create and implement laws and regulations that
integrate the member states of the EU. The countries of the EU are supposed to have uniform
laws and policies concerning a variety of things (like immigration, labor, weights and measures
-- all sorts of things). The function of the EU government is to decide how this integration
should be done and to carry it out.
For example, 16 members of the EU use the Euro as their currency. One of the functions of a
part of the EU government was to devise the currency -- to decide what it would be called what it
would look like, etc. Another part of the EU government tries to get countries using the Euro to
enact fiscal policies that will keep the Euro stable. They try, in other words, to prevent fiascos
like what happened in Greece this past year and they try to remedy them if they happen.
14. Current situation of EU
The European Union is an economic and political partnership between 27 European countries
that together cover a large part of the European continent. As the EU website explains: “It was
created in the aftermath of the Second World War. The first steps were to foster economic
cooperation: the idea being that countries who trade with one another become economically
interdependent and so more likely to avoid conflict. The result was the European Economic
Community (EEC), created in 1958, and initially increasing economic cooperation between six
countries: Belgium, Germany, France, Italy, Luxembourg and the Netherlands. Since then, a
huge single market has been created and continues to develop towards its full potential. But what
began as a purely economic union has also evolved into an organisation spanning all policy
areas, from development aid to environment. A name change from the EEC to the European
Union (the EU) in 1993 reflected this change.”
The Nobel Prize Committee recognised the achievements of the European Union by awarding
the 2012 Peace Price to the project “for over six decades contributed to the advancement of
peace and reconciliation, democracy and human rights in Europe“. But in the shadow of the
European debt crisis Europe appears less the united with Euroscepticism gaining momentum in
some countries. A 2009 study by the European Commission “Portugal and Hungary (both 50%)
and Latvia (51%) contain the fewest people who feel optimistic about the EU’s future. The UK
(53%), Greece (54%) and France (57%) also record noticeably low figures” (see page 212 in the
accompanying report). “Euroscepticism in the United Kingdom has been a significant element in
British politics since the inception of the European Economic Community (EEC), the
predecessor to the EU”, concludes a Wikipedia contribution, which reflects the emotional and
often – in either way – dogmatic nature of the debate in the most skeptic members of the Union.
The EU appears to have become a welcome recession scapegoat.But what is the European Union
anyway. Rather than an alien construct imposed on the member states, it still is the agreed
structure set up by its member states (for the good or bad, that is). The following series of maps
gives a brief introduction into some of the key figures that shape the countries that are part of the
EU and who are about the meet for negotiations on how to fund the European Union for the rest
of the decade – having crucial implications on the role and purpose of the project. All maps
shown here are cartograms based on national-level statistics. The first map is a population
cartogram of the member states showing where how many people live (a more detailed
perspective gives this gridded population cartogram of the EU)
Asia
FTAs
15. In essence, Asia has played FTA catch-up with other regions. FTAs have proliferated like
wildfire. By June 2009, East Asia plus India (the ADB’s “integrating Asia”) had concluded 54
FTAs, up from 3 in 2000. 40 FTAs are currently in effect, and another 78 are either under
negotiation or proposed (Table 5). Most of these (74% of concluded FTAs) are bilateral FTAs
rather than plurilateral or regional negotiations and agreements. Many – indeed the majority for
China, India, Singapore and South Korea -- are with extra-regional partners.13 The major Asian
players – China, India and Japan – are involved, as are South Korea, Australia, New Zealand, the
ASEAN countries, as well as other south-Asian countries. The USA is involved with individual
Asian countries, as are some Latin American countries and South Africa. The EU has FTA
negotiations with South Korea, India and ASEAN.
APEC
APEC’s membership is diverse and unwieldy; its agenda has become impossibly broad and
unfocused; its vaunted Open (i.e. non-discriminatory) Regionalism is dead in the water; and
these days it is driven by shallow conferencitis and summitry. It cannot be expected to contribute
Anything serious to regional economic integration. An APEC FTA initiative (FTAAP – Free
Trade Area of the Asia Pacific) was launched at the APEC Hanoi Summit in 2006.17 It has gone
nowhere: political and economic divisions in such a large, heterogeneous grouping are manifold
and intractable. The best APEC can hope for is to encourage “best-practice” trade-related
policies through research, mutual surveillance and exchange of information – akin to what the
OECD does for its members. But even that may be too much to expect.
ASEAN
The ASEAN Free Trade Area (AFTA) has an accelerated timetable for intra-ASEAN tariff
elimination, but seen little progress on “AFTA-plus” items such as services, investment, non-
tariff barriers, and mutual recognition and harmonization of standards. An ASEAN Economic
Community (AEC), a single market for goods, services, capital and the movement of skilled
labor, with a fast track for “priority sectors”, is supposed to be achieved by 2015. A new ASEAN
Charter gives the group a common legal personality. On the economic front, the Charter contains
two new agreements, the ASEAN Trade in Goods Agreement (ATIGA) and the ASEAN
Comprehensive Investment Agreement (ACIA). these integrate separate agreements into single
consolidated legal texts on trade in goods and FDI respectively. The ASEAN Agreement in
Services (AFAS) remains unchanged. Will these initiatives spur intra-regional integration and be
a viable collective force in Asian and wider international relations? The track record indicates
otherwise. AFTA is among the strongest Asian FTAs, but it is also trade-light. Its vaunted
success is the Common Effective
Preferential Tariff (CEPT): Intra-regional tariffs have come down close to zero in the
old ASEAN members, with longer transition periods for the poorer new ASEAN members. But
the CEPT is mostly a paper exercise: ASEAN countries’ tariffs have been coming down
16. unilaterally in any case; and there has been minimal take-up of CEPT preferences by firms.
ASEAN also has agreements on tackling non-tariff barriers and liberalizing services and
investment,
But these are very weak and have resulted in hardly any net liberalization. In sum, ASEAN
economic integration has been limited to tariff cuts, but it has a pathetic record in tackling intra-
regional regulatory barriers.
SAFTA
South Asia’s regional-integration initiatives are even weaker than in East Asia – not surprising
given its abysmal record on intra-regional trade. South Asia’s strongest FTA is that between
India and Sri Lanka. But this is actually weak, with carve-outs, tariff-rate quotas
And stringent ROOs effectively excluding or restricting up to half of bilateral trade. The South
Asian Association of Regional Cooperation (SAARC) was founded in 1985, and a South Asian
Preferential Trade Area (SAPTA) became operational in 1995. The latter had limited product
coverage. The South Asian Free Trade Area (SAFTA), operational since 2006, is supposed to be
a full-fledged FTA by 2015. To date it is restricted to trade in goods. But tariff lines in members’
“sensitive lists” exclude just over half of intra-regional trade, in addition to very restrictive
ROOs on products targeted for tariff reduction. Other NTBs make matters worse. For example, a
“rule of destination” restricts entry of covered imports to specified Indian ports and land customs
stations. Finally, trade between SAFTA’s two largest members,
India and Pakistan, is minuscule. Bilateral trade is throttled because neither country effectively
accords the other most-favored-nation (MFN) status. It is extraordinary that two countries with
such a long shared border, and which, pre-independence, were a unified political-economic
space, should have bilateral trade that amounts to less than 1 per cent of their total trade.
Wider regional-integration initiatives: ASEAN Plus Three, ASEAN Plus Six, APC, TPP
Lastly, there is much talk in the region of folding bilateral FTAs and collective ASEAN FTAs
with third countries into larger, integrated FTAs that would cover East Asia, perhaps include
south Asia, and even stretch across the Pacific. At the more modest end of the scale, the Trans-
Pacific Strategic Economic Partnership Agreement is a four-way FTA (dubbed “P4”) that brings
together Singapore, Brunei, New Zealand and Chile, all small, open econo¬mies with a network
of pre-existing bilateral FTAs. Australia, Peru and Vietnam – and now the USA – have agreed to
negotiate with the P4 to enter an expanded Trans-Pacific Part¬nership (TPP). More ambitiously
in terms of geographic coverage, an “ASEAN plus Three” (APT) FTA (the “three” being Japan,
South Korea and China) has been touted. There is talk of an “ASEAN plus Six” FTA that would
subsume APT plus India, Australia and New Zealand. The first East Asia Summit (EAS), held in
Kuala Lumpur in 2005, gave impetus to these ideas. An ASEAN-Plus-Six FTA has been
promoted by the Japanese government – as a counter to what Japan sees as an inevitably China-
centered APT. And now the Australian Prime Minister, Kevin Rudd, has floated the idea of an
Asia-Pacific Community, probably reaching across to North America and some South American
17. countries. This would be an overarching forum that would cover political, security and economic
issues.
Monetary and financial policies
There are three main sets of regional initiatives on monetary and financial cooperation, all
centered on East Asia: the Chiang Mai Initiative on currency swaps; the Asian Bond Fund and
the Asian Bond Market Initiative; and the Asian Currency Unit. These are all “soft” or “middle-
strength” ideas, not “hard” proposals for exchange-rate and monetary coordination or
harmonization of financial regulations. One harder proposal – for an Asian Monetary Fund – was
tabled by the Japanese government in response to the Asian financial crisis in 1997/8. It was
promptly shot down by the US administration as an unwelcome rival to the IMF. Also note that,
to date, none of these initiatives includes India or the rest of south Asia.
The Chiang Mai Initiative (CMI) was a direct response to the Asian crisis. Established in 2000, it
is a network of currency-swap arrangements among ASEAN countries, and more widely among
the ASEAN Plus Three. It is intended as a precautionary crisis-preventing measure by increasing
the availability of liquidity and instilling market confidence. But it is very “soft”. Its aggregate
size is tiny compared with foreign-exchange reserves in the region (the major Asian countries
have a total of almost USD 4 trillion in reserves); and it has not yet been “multi lateralized” – it
has no collective mechanism to approve or coordinate bilat¬eral swaps. It remains voluntary and
uncoordinated. Revealingly, the CMI was not used in response to the recent global economic
crisis.
The global and regional political context:
Those who favor a big push for regional economic integration in Asia now have their day in the
sun. They say that the global economic crisis has accelerated the decline of the US and the rise of
China, India and other parts of Asia. Power is shifting inexorably from the West to Asia.34 the
new Japanese government also wants to accelerate east-Asian economic integra¬tion. In
geopolitics, security relations have altered since the end of the Cold War. The end of
communism, the rise of new powers (China and India), and the questioning of security
dependence on the US (in South Korea and Japan), have opened up new ground. Now,
there¬fore, is the time to strengthen regional institutions and regional economic integration.
But I have doubts. The foundations for Asian regionalism are still weak. In East Asia, trade-and-
investment integration has been market-led and bottom-up. It has not been driven by top-down
policy initiatives such as FTAs or regional institutions like ASEAN and APT – let alone
“international regimes” or “global governance”. Rather it has been led by unilateral, country-by-
country liberalization of trade and FDI. This opened the door to first American and Japanese and
then other MNEs to set up vertically-integrated production networks, linked to global supply
chains and final markets in the West. This happened in Southeast Asia in the 1980s (earlier in
Singapore), with China inserting itself into regional production networks from the 1990s.
18. China’s massive unilateral liberalization in the 1990s, before it joined the WTO, spurred
additional unilateral liberalization in Southeast Asia. They moved up to higher-value production
of parts and components while labor-intensive production migrated to China, and more recently
to Vietnam.
Current scenario:
The two-day conference, organized by the South Asia Watch on Trade, Economics and
Environment (Sawtee), aims to present policy messages and recommendations for the benefit of
governments in South Asia.
“Nepal’s neighborhoods have been dynamic, but our efforts have been less focused on benefiting
from the two emerging economies,” said Danish Bhattarai, foreign affairs adviser to the prime
minister. “Inadequate infrastructure to facilitate trade and high operating costs have been
impeding the country’s trade. Meanwhile, the agriculture sector-the largest employment
provider-has been neglected or is suffering from low investment.”
Bhattarai added that lack of development in these two major sectors had kept Nepal trapped in a
vicious circle of poverty. “This is also the case of other South Asian economies.”
He underscored the need for regional policy cooperation and coordination to advance the reforms
of regional and intra-regional connectivity for trade facilitation. “As we are holding the 18th
Saarc Summit in November this year, the outcomes of the conference will be considered and
recommended in the summit deliberations,” added Bhattarai.
Similarly, Officiating Secretary at the Ministry of Foreign Affairs Shankar Das Bairagi said that
successful countries have been able to take advantage of globalization. “In terms of South Asian
nations, the picture of globalization is different, as all the South Asian economies remain least
integrated.”
Given the current scenario, there is a need for increasing the region’s investment in trade and
facilitation of intra-regional trade and transit. The primary focus of South Asia should be on
coherent policy actions to address stronger recovery, particularly in the farm sector, he said.
AMERICA
NAFTA
OBJECTIVES OF NAFTA
19. To reduce barriers to trade.
To increase cooperation for improving working conditions in North America.
To create an expanded and safe market for goods and services produced in North
America.
To establish clear and mutually advantageous trade rules.
To help develop and expand world trade and provide a catalyst to broader international
cooperation.
YEAR OF ESTABLISHED NAFTA
On January 1, 1994, the North American Free Trade Agreement between the United States,
Canada, and Mexico (NAFTA) entered into force.
All remaining duties and quantitative restrictions were eliminated, as scheduled, on January 1,
2008.
NAFTA created the world's largest free trade area, which now links 450 million people
producing $17 trillion worth of goods and services.
Trade between the United States and its NAFTA partners has soared since the agreement entered
into force.
U.S. goods and services trade with NAFTA totaled $1.6 trillion in 2009 (latest data available for
goods and services trade combined). Exports totaled $397 billion. Imports totaled $438 billion.
The U.S. goods and services trade deficit with NAFTA was $41 billion in 2009.
The United States has $918 billion in total (two ways) goods trade with NAFTA countries
(Canada and Mexico) during 2010. Goods exports totaled $412 billion; Goods imports totaled
$506 billion. The U.S. goods trade deficit with NAFTA was $95 billion in 2010.
20. Trade in services with NAFTA (exports and imports) totaled $99 billion in 2009 (latest data
available for services trade). Services exports were $63.8 billion. Services imports were $35.5
billion. The U.S. services trade surplus with NAFTA was $28.3 billion in 2009.
MEMBER COUNTRIES OF NAFTA
UNITED STATES OF AMERICA
MEXICO
CANADA
FUNCTION OF NAFTA
The major functions of NAFTA are:
Eliminate trade barriers in various service sectors belonging to its member nations.
Reduce high Mexican tariffs and help to promote agricultural exports.
Assist firms spanning the three nations to bid on government contracts.
Assure fair market value to investors by reducing risk and offering the same legal rights
that are enjoyed by local investors.
CURRENT SITUATION OF NAFTA:
If you listened to the NAFTA debate in the United States last year, you might mistake it
as simply an agreement about jobs. Jobs are very important and I am prepared to make
the case that NAFTA will in effect create jobs in Mexico, the United States and Canada.
Yet I think we will all readily agree that NAFTA is about much more than just jobs.
NAFTA has overarching implications that extend far beyond its job effects.
21. First, I stress that the U.S.-Mexico aspect of NAFTA exemplifies a reciprocal, mutually
advantageous cooperation between a developed and a developing country. This is a
critical issue with respect to NAFTA and an important component for NAFTA's
implementation by the United States. The global arena in which NAFTA occurs is very
much a post-Cold War world. The focus will no longer be so exclusively East-West, but
increasingly will be returning to North-South. NAFTA is a good news story that shows
how the developing and developed worlds can cooperate with each other to their mutual
benefit.
Second, NAFTA will encourage global as well as regional trade liberalization. We
probably would not have been able to conclude the Uruguay Round of GATT talks in
December 1993 if NAFTA had been defeated. Moreover, many of the GATT contracting
parties appreciate that if we cannot liberalize world markets through a multilateral forum
such as the General Agreement on Tariffs and Trade (soon to be rechristened the World
Trade organization), those who most ardently champion trade.
Central American Integration System
The Central American Integration System (Spanish: Sistema de la Integración
Centroamericana, or SICA) is the economic and political organization of Central
American states since February 1, 1993. On December 13, 1991 the ODECA countries
(Spanish: Organización de Estados Centroamericanos) signed the Protocol of
Tegucigalpa, extending earlier cooperation for regional peace, political freedom,
democracy and economic development. SICA's General Secretariat is in El Salvador.
In 1991, SICA's institutional framework included Guatemala, El Salvador, Honduras,
Nicaragua, Costa Rica and Panama. Belize joined in 2000 as a full member, while the
Dominican Republic became an associated state in 2004 and a full member in 2013.
Mexico, Chile and Brazil became part of the organization as regional observers, and the
Republic of China, Spain, Germany and Japan became extra-regional observers. SICA
22. has a standing invitation to participate as observers in sessions of the United Nations
General Assembly,[1] and maintains offices at UN Headquarters.[2]
Four countries (Guatemala, El Salvador, Honduras, and Nicaragua) experiencing
political, cultural and migratory integration have formed a group, the Central America
Four or CA-4, which has introduced common internal borders and the same type of
passport. Belize, Costa Rica, Panama and the Dominican Republic join the CA-4 for
economic integration and regional friendship.
OBJECTIVES OF SICA:
The objectives of this Act (SICA) as incorporated in its preamble, emphasizes the following
points:
The SICA had been enacted in the public interest to deal with the problems of industrial sickness
with regard to the crucial sectors where public money is locked up.
It contains special provisions for timely detection of sick and potentially sick industrial
companies, speedy determination and enforcement of preventive, remedial and other measures
with respect to such companies.
Those measures are to be taken by a body of experts.
The measures are mainly
(a) Legal
(b) Financial restructuring
(c) Managerial
23. YEAR OF ESTABLISHED SICA:
In 1991, SICA's institutional framework included Guatemala, El Salvador, Honduras, Nicaragua,
Costa Rica and Panama. Belize joined in 2000 as a full member, while the Dominican Republic
became an associated state in 2004 and a full member in 2013. Mexico, Chile and Brazil became
part of the organization as regional observers, and the Republic of China, Spain, Germany and
Japan became extra-regional observers. SICA has a standing invitation to participate as observers
in sessions of the United Nations General Assembly and maintains offices at UN Headquarters.
MEMBER COUNTRIES OF SICA:
Member countries: Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama,
joined later by Belize.
Associated country: Dominican Republic.
Regional observer country: Mexico.
Extra-regional observer countries: China and Spain.
FUNCTION OF SICA:
Internal factors are those which arise within an organization. They include:-
• Mismanagement in various functional areas of a company like finance,
production, marketing and personnel;
• Wrong location of a unit;
24. • Overestimation of demand and wrong dividend policy;
• Poor implementation of projects which may be due to improper planning or
managerial inefficiency;
• Poor inventory management in respect of finished goods as well as inputs;
• Unwarranted expansion and diversion of resources such as personal
extravagances, excessive overheads, acquisition of unproductive fixed assets, etc.
• Failure to modernize the productive apparatus, change the product mix and other
elements of marketing mix to suit the changing environment;
• Poor labor-management relationship and associated low workers' morale and low
productivity, strikes, lockouts, etc.
External factors are those which take place outside an organization. They include:-
Energy crisis arising out of power cuts or shortage of coal or oil;
Failure to achieve optimum capacity due to shortage of raw materials as a result
of production set-backs in the supply industries, poor agricultural output because
of natural reasons, changes in the import conditions, etc.
Infrastructural problems like transport bottlenecks;
Credit squeeze;
Situations like market recession, changes in technology, etc.
International pressures or circumstances, etc.
Industrial sickness may be caused by a combination of all such factors. It has
several adverse consequences on the economy as a whole. Some of which may be
enumerated as follows:-
It leads to loss of substantial revenue to the Government and enhances its public
expenditure;
It locks up necessary resources and funds in the sick unit. This also increases the
non-performing assets (NPAs) of banks and financial institutions;
25. It leads to loss of production and productivity in the economy;
It aggravates the problem of unemployment in the economy;
Conclusion
Summarizes the main findings of the report on Regional Economic Integration in
EU, Asia, America and provides a broad direction for reform priorities. The major
political changes sweeping through the region today provide an opportunity to
introduce economic and social reforms conducive to economic growth and job
creation in an increasingly competitive world. Leaders throughout the region are
looking for new measures their governments can take to boost growth and
employment. Deeper regional and global economic integration presents valuable
opportunities to (1) make the region more attractive to investors, (2) boost
productivity and competitiveness, and (3) create opportunities for the good jobs
that young people in the region need. The Arab Spring provides an opportunity for
countries to break with the slow reform pace of the past and embark on a faster,
deeper, more comprehensive reform agenda, with strong support from the donor
community.
References:
http://en.wikipedia.org/wiki/Regional_integration
http://www.uneca.org/our-work/regional-integration-and-trade
http://carleton.ca/ces/eulearning/introduction/what-is-the-eu/extension-what-is-regional-
integration/
http://www.nepad.org/regionalintegrationandinfrastructure
http://aric.adb.org/integrationindicators
http://asiafoundation.org/in-asia/2013/01/09/regional-integration-asias-new-frontier-in-2013/
http://unu.edu/publications/books/regional-integration-in-east-asia-theoretical-and-historical-
perspectives.html#overview
http://en.wikipedia.org/wiki/Latin_American_integration
http://www.iadb.org/en/topics/regional-integration/regional-integration,1404.html
http://subweb.diis.dk/sw93239.asp