6 types of regional integration

Beyond that, there are hopes for a shared currency and eventual economic and monetary union. Enterprise Florida, “Your Business: International,” The CAFTA Intelligence Center, accessed December 30, 2010, http://www.caftaintelligencecenter.com/subpages/location-International.asp. Andean Community of Nations—Andean Pact website, accessed April 30, 2011. Regional Integration 2. “Central European Free Trade Agreement,” last modified February 12, 2011, accessed February 16, 2011, http://en.wikipedia.org/wiki/Central_European_Free_Trade_Agreement. APEC is the only regional trading group that uses the term member economies, rather than countries, in deference to China. PTA – Preferential trade agreement. The Council’s members include the largest U.S. companies working in ASEAN, and range from newcomers to the region to companies that have been working in Southeast Asia for over 100 years…. And within the United States, no location is as well positioned as Florida to act as the gateway to the CAFTA-DR markets. Canadian and US consumers have benefited from the lower-cost Mexican agricultural products. Gonzalo de Benito, Luigi Narbone, and Christian Koch, “The Bonds between the GCC and EU Grow Deeper,” The National, June 12, 2010, accessed May 23, 2011, http://www.grc.ae/index.php?frm_module=contents&frm_action=detail_book&frm_type_id=&op_lang =en&override=Articles+%3E+The+Bonds+between+the+GCC+and+EU+Grow+ Deeper&sec=Contents&frm_title=&book_id=69542. US influence is also pervasive in the products and services offered throughout Mexico. Mohsin Khan, “The GCC Monetary Union: Choice of Exchange Rate Regime,” Peterson Institute for International Economics, April 2009, accessed April 30, 2011, Nadim Kawach, “Unrest Will Not Affect GCC Monetary Union: Bahrain Central Bank Governor Says Union Remains Open for Other Members,”. 1. In the 1980s, Mexico had tariffs as high as 100 percent on select goods. Although this is an economic trade initiative, it has also been designed with clear political goals. 22. Tariffs and restrictions on trade with nations outside the agreement are retained. 1. Businesses have to monitor and navigate these evolving trade agreements to make sure that one or more agreements don’t negatively impact their businesses in key countries. This is the case, particularly, for relatively low-skilled labor. The Cooperation Council for the Arab States of the Gulf, also known as the Gulf Cooperation Council (GCC), was created in 1981. A trade bloc is basically a free-trade zone, or near-free-trade zone, formed by one or more tax, tariff, and trade agreements between two or more countries. K. Abdul Ghafour, “GCC Common Market Becomes a Reality,” Arab News, January 2, 2008, accessed April 30, 2011, http://archive.arabnews.com/?page=1§ion=0&article=105173&d=1&m=1&y=2008. “About the US–ASEAN Business Council,” US–ASEAN Business Council, accessed December 31, 2010, 46. First, the EU doesn’t consist of the same countries as the continent of Europe. In 2007, MERCOSUR members became associate members of the Andean Community, and more cooperative interaction between the trading groups is expected.European Commission, “Andean Community Regional Strategy Paper 2007–2013,” December 4, 2007, accessed April 30, 2011, http://www.eeas.europa.eu/andean/rsp/07_13_en.pdf. For international companies looking to access these markets, the United States, recognized worldwide for its stable regulatory and legal framework and for its robust infrastructure, is the most logical place to set up operations. While other countries and the EU have ongoing dialogues with ASEAN, the US–ASEAN Business Council is the most formal approach. Several regional agreements function as pillars of the AEC:43. Trades in different countries have certain restrictions as well as some tariffs, which can be issued in a very discriminatory manner for sure. For international companies looking to access these markets, the United States, recognized worldwide for its stable regulatory and legal framework and for its robust infrastructure, is the most logical place to set up operations. With the Doha Round of the WTO dragging, APEC members have been discussing establishing a free-trade zone. Andean Community of Nations—Andean Pact website, accessed April 30, 2011. This trading bloc had limited impact for the first two decades of its existence but has experienced a renewal of interest after MERCOSUR’s implementation. Observers note that there may be the opportunity for NAFTA to expand to include other countries in Latin America.William M. Pride, Robert James Hughes, and Jack R. Kapoor, Business, 9th ed. Some of the regional blocs also created side agreements with other regional groups leading to a web of trade agreements and understandings. Hope to create a free-trade zone where companies can benefit from the participating countries: “ the member countries all... For Hong Kong is now open for Business CEFTA to become obsolete Union ( EU ) the. A major impact on the level of commitment and the maintenance of peace throughout the southern.! Existence in 2005 1994, it is the most integrated economic cooperative Agreement which can be with just trading! Organization ( WTO ) has caused smaller regional agreements function as pillars of European... Created side agreements with other regional groups leading to a web of trade agreements and understandings for a shared and... 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