REGIONAL

TRADE BLOCKS ARE INTERGOVERNMENTAL ASSOCIATIONS THAT MANAGE AND PROMOTE TRADE ACTIVITIES FOR SPECIFIC REGIONS OF THE WORLD. GROWTH OF INTRA-REGIONAL TRADE IS AN IMPORTANT TREND IS INTERNATIONAL TRADE , INTRA-REGIONAL TRADE HAS BEEN FOSTERED BY THE ECONOMIC INTEGRATED SCHEMES OR TRADING BLOCK.

THE

EUROPEAN ECONYOMIC COMMUNIT (EEC) NORTH AMERICAN FREE TRADE AGREEMENT (NAFTA) SINGAPORE AMERICAN FREE TRADE AGREEMENT(SAFTA) ORGANISATION OF PETROLEUM EXPORTING COUNTRIES (OPEC) ASSOCIATION OF SOUTH EAST ASIAN NATION (ASEAN) SOUTH ASIAN ASSOCIATION OF REGIONAL CO-OPERATION (SAARC)

 ANALYST

LIKE PREEG ARGUE THAT TRADE BLOCS ARE DESIRABLE BECAUSE THEY COMPLIMENT GLOBAL TRADE. ANALYST ARGUE THAT TRADE BLOCS ARE NOT DESIRABLE BECAUSE THEY ARE THREAT TO FREE TRADE AND NEED TO PROTECTIONISM

OTHER

 TRADE

BLOCS COMPLIMENT GLOBAL

TRADE
THEY

PROTECT INTRA REGIONAL TRADE FORM OUTSIDE FORCES. ESTABLISH REGIONAL SECURITY.

THEY

IMPORT RESTRICTION (LIMITING THE AMOUNT OF IMPORTS INTO THE COUNTRY SO THAT DOMESTIC CONSUMERS BUY PRODUCTS MADE BY THEIR COUNTRIES IN THEIR REGION). CUSTOM DELAYS (ESTABLISHING BUREAUCRATIC FORMALITIES THAT SLOW DOWN TRADE FROM THE OTHER REGION) SUBSIDIES BARRIER (GIVING HEAVY SUBSIDIES TO PROTECT REGIONAL TRADE ) TECHNICAL BARRIERS.

 Originally

the Europeans Coal & steel Community was formed with the West Germany , France , Italy , Belgium , Netherland and Luxembourg in 1952 . EEC is also known as European Common Market. Mainly six countries , viz France , Federal Republic of Germany , Italy , Belgium , Netherland , and Luxembourg in 1957. Now the EEC has 15 members , the country must be European countries and it must be democratic country.

 Setting

up a common market To promote throughout the community a harmonious development by economic activities . A continuous and balance expansion. An increase in stability and acceleration raising of standard of lining and close relation between the members of State belonging to it.

Eliminate the custom duties Formulation of a common customs tariff and common commercial policy. Abolition of all obstacles for movement of persons , services and capital among the members countries . Common policies of agriculture area . Common policies of transport. Coordinate the economic policies of member countries. Application procedures for control of disequilibrium in balance of payment. Establishment of European Social Fund Establishment of European Investment Bank

The North American Free Trade Area is the trade bloc in North America created by the North American Free Trade Agreement (NAFTA) and its two supplements, the North American Agreement on Environmental Cooperation (NAAEC) and the The North American Agreement on Labor Cooperation (NAALC), whose members are Canada, Mexico and the United States. It came into effect on 1 January 1994.

To create new business opportunities participation in mexico To enhance the competitive advantages of the companies open in the usa , canada , mexico. To reduce the price in the products and services by enhancing the competition. To enhancing the industrial development and employment throughout region. Stable political environment for the investor. To assist mexico in earning additional foreign exchange to meet foreign debt burden. To improve and consolidate political relation among member countries.

 Most

of the usa industries will shifted to the mexico Nafta agreement is implemented without prior price preparation .

History: The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization, created at the Baghdad Conference on September 1014, 1960. Functions: The OPEC MCs coordinate their oil production policies in order to help stabilise the oil market and to help oil producers achieve a reasonable rate of return on their investments. This policy is also designed to ensure that oil consumers continue to receive stable supplies of oil.

 The

Secretariat carries out the executive functions of the Organization in accordance with the provisions of the OPEC Statute and under the direction of the Board of Governors Members: Algeria, Angola, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, UAE, Venezuela.

 ESTABLISHED IN 1967 . 5 FOUNDING MEMBERS

: INDONESIA , MALAYASIA, PHILLIPINES, SINGAPORE AND THILAND. LATER ON JOINED BY BRUNEI, MYANMAR,VIETNAM ETC. ASEAN FREE TRADE AREA (AFTA) . ASEAN BEYOND TRADE HAS POLITICAL ROLE AS VISIBLE BY THE FORMATION OF ASEAN REGIONAL FORUM OF WHICH CHINA, INDIA AND USA ARE MEMBERS. ASEAN AS A TRADING BLOC HAS BEEN A HUGE SUCCESS LEADING TO PROSPERITY AND ELIMINATION OF POVERTY IN THE MEMBER COUNTRY

The successful performance of eec , nafta and other trade block in the economic development of the member countries and in improving the employment opportunity , income and living standard of the people of the region gave impetus for the formation of south Asian association for regional cooperation. India , bangladesh , bhutan , pakistan , the maldives and sri lanka adopted a declarationon saarc in august 1983 . The charter of the saarc was formally adoped in dec 1985 by the heads of the member countries .

Improve the quality of living and welfare of the people To develop the region economically , social and culturally. To provide the opportunity to the people of the region to live in dignity and to exploit their potentialities. To enhance the self reliance of the member countries jointly. To enhance the mutual assistance among member countries in the areas of economic , social , cultural , scientific and technical field. To enhance the co-operation with other developing economies.

SAARC MEMBER SIGNED THE SAARC PREFERENTIAL TRADING : Gradually

liberalize the trade among member countries Eliminate traiffs Promote and sustain mutual trade and economic co-operation among member countries.