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Regional trade blocs are preferential trade agreements between subsets of countries that remove trade barriers within member countries and refer to regional trade integration. Major trade blocs include the EU, NAFTA, MERCOSUR, ASEAN, and SAARC. Trade blocs imply reducing barriers to trade and involve discriminated trade liberalization and deeper forms of integration like harmonizing competition policies. They are motivated by desires to import development regionally, insulate from the global economy, and pursue both economic and political objectives through exchanging concessions between a small number of countries. Trade blocs can take the form of free trade areas, customs unions, common markets, or economic unions and provide benefits like eliminating transaction costs while potential disadvantages include instability, over
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Wto
The document provides information on the history and development of the World Trade Organization (WTO) and various regional trading blocs. It discusses how the WTO was established in 1995 as the successor to the General Agreement on Tariffs and Trade (GATT) and outlines some of the WTO's main activities. It also summarizes four major regional trading blocs - the European Union, ASEAN, Mercosur, and NAFTA - and provides some key details about their founding, goals, and membership.
Regional grouping
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.
0324585942_131627 (3).ppt
This document provides an overview of global and regional economic integration. It discusses the evolution of the GATT and WTO in promoting global integration through reducing trade barriers. It also describes different levels of regional integration like free trade areas, customs unions, and economic unions. Examples of regional integration efforts in Europe, North America, South America, Asia, Australia/New Zealand, and Africa are outlined. Potential debates around regional integration being building blocks or stumbling blocks to global integration, and the effectiveness of the WTO, are also mentioned.
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The document provides an overview of the World Trade Organization (WTO), regional trading blocs, and international business treaties. It discusses how the WTO was established in 1995 as the third pillar of global economic governance after the IMF and World Bank. The WTO aims to liberalize trade and incorporates agreements on goods, services, and intellectual property. However, it has compromised by allowing regional trade blocs and being dominated by major powers like the US, EU, and Japan in setting rules. Regionalism and concerns over developing country interests have led some like India to view WTO membership negatively.
Various trade organisations final
The document discusses various international and regional trade organizations and agreements. It provides an overview of the General Agreement on Tariffs and Trade (GATT), including its origins and achievements. It then summarizes the World Trade Organization (WTO), including its objectives and core agreements on trade-related investment measures, intellectual property, and other issues. Several regional trade blocs and agreements are also summarized such as the European Union, North American Free Trade Agreement, Association of Southeast Asian Nations Free Trade Area, and others.
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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.
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Presentation WTO.ppt
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The document discusses economic integration and trade blocs. It defines economic integration as establishing rules to enhance trade between member countries. It describes levels of integration like free trade areas and customs unions. Free trade areas remove tariffs between members. Trade blocs are formed for trade creation where members focus on comparative advantages and trade diversion where members trade more within the bloc than outside. Major blocs include the EU, NAFTA, ASEAN and SAARC.
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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.
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Trade blocks are formed when countries integrate their economies by reducing barriers to trade. There are different levels of economic integration including free trade areas, customs unions, common markets, and economic unions. Several trade blocks are described including the European Union, NAFTA, ASEAN, EFTA, LAIA, SAARC, APEC, MERCOSUR, and ANDEAN. The document outlines the objectives, organization structures, and operations of these various trade blocks.
14 b wto
The document discusses the history and evolution of international trade organizations from GATT to the modern World Trade Organization (WTO). It describes how GATT was established in 1947 to promote global free trade but lacked enforcement capabilities. Key points include:
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Wto described
The document provides an overview of the World Trade Organization (WTO), including its history, objectives, structure, and functions. Key points include:
- The WTO is the international body that oversees global trade rules and agreements. It grew out of GATT and was established in 1995.
- The objectives of the WTO include raising living standards, ensuring full employment, and helping developing countries increase their share of world trade. However, some argue its focus has shifted more towards liberalizing trade.
- The WTO agreements cover trade in goods, services, intellectual property, dispute settlement, and trade policy reviews. Members must accept all agreements as a single package.
- The WTO's major
Wto described
The World Trade Organization (WTO) is the international body that oversees global trade rules. It was established in 1995 to expand on the General Agreement on Tariffs and Trade (GATT). The WTO aims to raise living standards, ensure full employment, and allow for the optimal use of the world's resources through expanding trade. However, some argue the WTO has shifted its focus too much towards maximizing trade at the expense of these public interest goals. The WTO agreement incorporates new rules on agriculture, textiles, trade in services, intellectual property, and dispute settlement. It also established new bodies like the General Council and Dispute Settlement Mechanism to administer agreements and resolve trade disputes.
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COMESA is a regional economic community in Africa comprising 19 member states with a combined GDP of $275 billion. COMESA aims to establish a fully integrated common market. It has established a free trade area and plans to launch a customs union in 2008. COMESA also has regulations around trade policy, competition policy, and dispute settlement. However, it faces challenges in increasing productive capacity and improving infrastructure like roads and ports. To address these issues, COMESA has established a fund that can mobilize resources for infrastructure development, adjustment support for economic reforms, and addressing supply-side constraints. COMESA is calling on donor countries and agencies to contribute to this fund to support further regional integration and development.
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Int.b.e
- 1. REGIONAL TRADE BLOCS by M. Tarunkumar (0228) M.Sireesha (0229) N.ChaitanyaSudha (0230)
- 3. It refers to a regional trade agreement or integration.
- 6. Trade liberalisation is discriminated .
- 7. It exists as well regional integration agreements.
- 9. To insulate a region from the world economy and to stablise at a regional level.
- 10. It played major role in political and economical considerations.
- 11. Not only concessions can be easily exchanges a small number of countries .
- 13. Customs unions
- 14. Common markets
- 17. Uncertainity caused by exchange rate flactuations eliminated.
- 18. Single currency in single market makes sense.
- 20. Over estimation of trade benefits .