REGIONAL ECONOMIC INTEGRATION
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This document discusses several regional economic integration agreements between countries including ASEAN, APEC, NAFTA, Mercosur, and the European Union. The main purpose of these agreements is to reduce tariffs and non-tariff barriers in order to accelerate economic growth and enhance trade development through the free movement of goods, services, skilled labor, and capital between member countries.
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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.
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This document discusses regional integration and economic integration. It outlines the stages of economic integration from free trade areas to political unions. It provides examples of integrated economies like the European Union, NAFTA, and ASEAN. The EU was formed to prevent future wars and create closer economic cooperation between European countries. NAFTA removed tariffs and barriers between the US, Canada, and Mexico. ASEAN fosters free trade and industrial cooperation among Southeast Asian nations. Regional integration aims to increase trade, consensus, employment, and investment while reducing conflicts between countries.
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NAFTA is a free trade agreement between the United States, Canada, and Mexico that came into effect in 1994. It aims to allow free movement of goods and services between the countries by eliminating tariffs and non-tariff barriers. Since its implementation, trade and investment have increased significantly in North America, bringing economic growth and better prices. However, NAFTA has also been criticized for contributing to job losses and rising inequality in some areas.
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Regional economic integration refers to agreements among countries in a geographic region to reduce and ultimately remove tariffs and non-tariff barriers to trade. There are various levels of integration including free trade areas, customs unions, common markets, economic unions, and political unions. The document discusses the case for and disadvantages of regional integration. Key benefits include increased specialization and economic growth from free trade, as well as greater political cooperation and foreign investment attraction. History and structures of economic unions like the EU, NAFTA, and ASEAN are also outlined.
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Special Economic Zones (SEZs) are designated areas within countries that have special economic regulations to encourage business activity. SEZs offer tax reliefs and opportunities for lower taxation. India's first SEZ was established in 1965 and the 2000 policy expanded incentives for private sector SEZs. SEZs are intended to promote economic growth, attract foreign investment, and increase exports and GDP. While SEZs create jobs, they have also been criticized for displacing farmers and reducing long-term tax revenue through corporate tax holidays. As of 2014, India had 491 approved SEZs, with 196 operational zones accounting for 38% of the country's exports.
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This document provides information about various political and economic players involved in the process of globalization, including the World Trade Organization (WTO), World Bank, International Monetary Fund (IMF), and regional trade blocs like the European Union (EU) and Association of Southeast Asian Nations (ASEAN). It discusses how the WTO, through its rules promoting free trade, has impacted member countries like Pakistan. It also examines the roles of national governments and economic groups in shaping globalization and managing international trade relationships. Key concepts covered include trade liberalization, privatization, foreign direct investment, and special economic zones.
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REGIONAL ECONOMIC INTEGRATION
- 1. REGIONAL ECONOMIC INTEGRATION _______ MUHAMAD NAZRUL ZAFFIQ BIN ZAMZURI 08 DPI14F 1025
- 3. • Association of Southeast Asian Nation • August 1967 • Free trade area • 10 country members • Accelerate economic growth • Enhance trade development • Allow free movement of goods, services, skilled labour, and capital
- 4. • Asia Pacific Economic Cooperation • 1989 • Free trade area • Remove trade tariff and other obstacle • Focus on facilitate economic growth
- 5. • North America Free Trade Area • 1994 • Remove import duties and non tariff barrier • Free trade area 1. Canada 2. Mexico 3. United States
- 6. •Mercado Comum Do Sul •Allow duty free 1. Argentina 2. Uruguay 3. Brazil 4. Paraguay 5. Venezuela • Associate states (custom union) 1. Chile 2. Bolevia 3. Columbia 4. Ecuador 5. Peru •Common market( focus on f.o. production )
- 7. • European union • Unified, barrier free market for product / services within internal market
Editor's Notes
- jnn