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Encyclopedia > Trading bloc
Trade Series
International trade
History of international trade
Trade bloc
Free trade area
Customs union
Common market
Economic and monetary union
Trade creation
Trade diversion

A trade bloc is a large free trade zone or near-free trade zone formed by one or more tax, tariff and trade agreements. Typically trade pacts that define such a bloc specify formal adjudication bodies, e.g. NAFTA trade panels. This may include even a more democratic and participative system, as the EU and its parliament. International trade is the exchange of goods and services across international borders. ... The history of international trade chronicles the way that the flow of trade over long distances has shaped, and been shaped by history. ... A free trade area is a designate group of countries that have agreed to eliminate tariffs, quotas and preferences on most goods between them. ... A customs union is a free trade zone with a common external tariff. ... A single market is a customs union with common policies on product regulation, and freedom of movement of all the factors of production (goods, services, capital and labour). ... In economics, a monetary union is a situation where several countries have agreed to share a single currency among them. ... Trade creation is an economic term related to international economics in which trade is created by the formation of a customs union. ... Trade diversion is an economic term related to international economics in which trade is diverted by the formation of a customs union. ... Free trade zones, also called free trade areas or export processing zones, designate either parts of a country or groups of countries that have agreed to eliminate tariffs, quotas and preferences on most goods between them. ... The tax, tariff and trade laws of a political region, state or trade bloc determine which forms of consumption and production tend to be encouraged or discouraged. ... A trade pact is a wide ranging tax, tariff and trade pact that usually also includes investment guarantees. ... The North American Free Trade Agreement, known usually as NAFTA, is a comprehensive trade agreement linking Canada, the United States, and Mexico in a free trade sphere. ... The European Parliament is the parliamentary body of the European Union (EU), directly elected by EU citizens once every five years. ...


Particularly since the demise of most of the world's empires, a number of international—generally regionally based—economic blocs have been developed to promote trade between member states. An empire (also known technically, abstractly or disparagingly as an imperium, and with powers known among Romans as imperium) comprises a set of regions locally ruled by governors, viceroys or client kings in the name of an emperor. ...


Several blocs also have stated or implicit political goals—notably the EU. Varieties of economic blocs include free trade areas, customs unions, single markets, and economic and monetary unions. Politics is the process and method of making decisions for groups. ... A free trade area is a designate group of countries that have agreed to eliminate tariffs, quotas and preferences on most goods between them. ... A customs union is a free trade zone with a common external tariff. ... A single market is a customs union with common policies on product regulation, and freedom of movement of all the factors of production (goods, services, capital and labour). ... In economics, a monetary union is a situation where several countries have agreed to share a single currency among them. ...


One of the first economic blocs was the German Customs Union (Zollverein) initiated in 1834, which formed the basis of the German Confederation and subsequently empire that came in 1871. Zollverein (German for customs union) was formed between the 38 states of the German Confederation in 1834 during the Industrial Revolution to create a better trade flow and reduce internal competition. ... 1834 was a common year starting on Wednesday (see link for calendar). ...


List of trade blocs

Spanish: Comunidad Andina, abbreviated CAN) is a trade bloc that comprises the South American countries of Bolivia, Colombia, Ecuador, Venezuela. ... Asia-Pacific Economic Cooperation (APEC) is a group of Pacific Rim countries who meet with the purpose of improving economic and political ties. ... The Association of Southeast Asian Nations (ASEAN) is a political, economic, and cultural organization of countries located in Southeast Asia. ... Main languages See Languages of ASEAN Secretary General Ong Keng Yong of Singapore Area  - Total 4,480,000 km2 Population  - Total (2004)  - Density 550,000,000 122. ... The Association of Southeast Asian Nations (ASEAN) is a political, economic, and cultural organization of countries located in Southeast Asia. ... In this map of China, the light-coloured areas represent Mainland China, while yellow coloured area refers to Taiwan. ... The Caribbean Community and Common Market or CARICOM was established by the Treaty of Chaguaramas [1] which came into effect on August 1, 1973. ... Member states of CEFTA The Central European Free Trade Agreement (CEFTA) is a trade agreement between Czech Republic, Slovakia, Hungary, Romania, Croatia. ... The Closer Economic Partnership Arrangement (CEPA) is an economic agreement between the Hong Kong SAR government and the Peoples Republic of China central government, signed on June 29, 2003. ... The Economic Community of West African States is a regional group of fifteen countries, founded on May 28, 1975 when 15 West African countries signed the Treaty of Lagos. ... Flag of EURASEC The Eurasian Economic Community (EURASEC) was put into motion on the 10th October 2000 when Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan signed the treaty. ... The European Economic Area (EEA) came into being on January 1, 1994 following an agreement between the European Free Trade Association (EFTA) and the European Union (EU). ... The European Free Trade Association (EFTA) was established on May 3, 1960 as an alternative for European states that were not allowed or did not wish to join the European Community (now the European Union). ... The European Community (EC), most important of three European Communities, was originally founded on March 25, 1957 by the signing of the Treaty of Rome under the name of European Economic Community. ... ... Flag of Mercosur Mercosur or Mercosul (Spanish: Mercado Común del Sur, Portuguese: Mercado Comum do Sul, English: Southern Common Market) is a trading zone among Brazil, Argentina, Uruguay and Paraguay, founded in 1995. ... The North American Free Trade Agreement, known usually as NAFTA, links Canada, the United States, and Mexico in a free trade sphere. ... The South American Community of Nations (Spanish: Comunidad Sudamericana de Naciones (CSN), Portuguese: Comunidade Sul-Americana de Nações (CSN)) will be a continent-wide free trade zone that will unite two existing free-trade organizations—Mercosur and the Andean Community—eliminating tariffs for non-sensitive products by 2014 and sensitive... The South Asian Association for Regional Co-Operation, or SAARC, proposed by Ziaur Rahman, the then-president of Bangladesh, was established on December 8, 1985. ... The Southern African Development Community is an organization that aims to promote Southern African regional cooperation in economic development. ...

Proposed

The Association of Caribbean States (ACS) (Also called the Asociacion de Estados del Caribe or Association des Etats de la Caraibe) was formed with the aim of promoting consultation, cooperation, and concerted action among all the countries of the Caribbean, comprising of 25 member states and 3 associate members. ... The Central American Free Trade Agreement (CAFTA) is a free trade agreement between the United States and the Central American countries of Guatemala, Honduras, and Canada, and Mexico. ... The Commonwealth of Independent States (CIS) (in Russian: Содружество Независимых Государств (СНГ) - Sodruzhestvo Nezavisimykh Gosudarstv) is a confederation or alliance consisting of 12 of the 15 former Soviet Republics, the exceptions being the three Baltic states (Estonia, Latvia, and Lithuania). ... The Free Trade Area of the Americas or FTAA (in Spanish: Área de Libre Comercio de las Américas, ALCA; in French: Zone de libre-échange des Amériques, ZLEA; in Portuguese: Área de Livre Comércio das Américas, ALCA) is a proposed agreement to eliminate or reduce trade barriers among all States... The South Asia Free Trade Agreement is an agreement reached at the 12th South Asian Association for Regional Cooperation summit. ... The Association of Southeast Asian Nations (ASEAN) is a political, economic, and cultural organization of countries located in Southeast Asia. ...

See Also


  Results from FactBites:
 
Jamaica Gleaner News - CARICOM - newest trade bloc on January 23 - Thursday | December 29, 2005 (734 words)
These trade blocs enjoy special and differential treatment within their boundaries, in addition to the removal of trade barriers within the bloc and they also have a common trade tariff for third countries.
A regional trade bloc provides a protective hedge from the winds of globalisation, acting as a trade union protecting its member countries.
As the gradual removal of traditional preferential trading arrangements with the United Kingdom (UK) and the European Community (EU) under the current World Trade Organisation (WTO) regime indicates, the CSME is even now more than ever, a vital organ for the survival of the Caribbean market.
Chapter 11 (2374 words)
If forming or joining the trade bloc results in shifting the source of imports into the country from low-priced suppliers from countries outside the trade bloc to higher-priced partner suppliers, the country and the world lose as trade is diverted from low-cost to higher-cost producers.
Trade blocs are exemplified mainly by free trade areas and custom unions.
Trade embargoes are usually imposed by large countries that are important in the trade of the target country.
  More results at FactBites »


 

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