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Trade blocs…read more

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European Union
Interesting facts: Aims:
· Formed after WW2 · Free movement of Austria Italy
· Aims to ensure peace and improve economic people Belgium Latvia
development · Free movement of
· Budget of the EU parliament 1.7 billion euros, capital Bulgaria Lithuania
24% of this is spent for basic expenditures of MPs · Free movement of Croatia Luxembourg
such as travel, accommodation and food etc. goods Cyprus Malta
· 2012 MPs received a monthly salary 7.957 euros. · Free movement of
· Consisted of 6 members, one of the first countries services Czech republic Netherlands
to become an associate member was Greece. Denmark Poland
There are now 27 members. Type of trade bloc:
The EU is highly Estonia Portugal
· Named the European Union in 1993.
· The EU has 23 official languages. European integrated, moving Finland Romania
parliament debates are translated into all of beyond a common market France Slovakia
them. with freedom of
movement towards full Germany Slovenia
· The EU annually imports more than 6,000 tonnes
of frogs legs from Asia economic union with the Greece Spain
· Wales has 8% of the sheep in the whole of the EU introduction of a common Hungary Sweden
currency, sharing some
political legislation. Ireland UK…read more

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NAFTA (North American Free Trade
Aims: Type of trade bloc:
Interesting facts: · Reduce trade barriers Economic union
· Total population: · Increase cooperation
449,227,672 million for improving working
conditions in North USA
· GDP per capita: America
36038 US$ · Establish
advantageous trade
· NAFTA started in rules
1994. · Help to develop and
expand world trade
· It moves 17 trillion
US$ of goods every
year.…read more

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Asean (the Association of South East Asian
Founding members Countries that joined Type of trade bloc:
(1967): later: Free trade area
Indonesia Brunei (Joined 1984)
Malaysia Vietnam (Joined 1995) Aims:
Philippines Lao PDR (Joined 1997) · To accelerate the economic growth, social progress and
cultural development in the region
Singapore Myanmar (Joined 1997) · To promote regional peace and stability through abiding
Thailand Cambodia (Joined 1999) respect for justice and the rule of law in the relationship
amongst the countries
Interesting facts: · To provide assistance for each other in the form of
· Motto ­ "One Vision, One Identity, One training and research facilities
Community" · To collaborate more effectively for greater utilisation of
· Established on 8th August 1967 in Bangkok their agriculture and industries, the expansion of their
· ASEAN is a Free Trade Area, one of the least trade, the improvement of their transportations and
integrated types of Trade Bloc communications and the raising of living standards…read more

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Interesting facts: Aims:
· Established in 1991 by the treaty of Asuncion · It aims to bring about the free movement of goods,
· Headquarters in Montevideo, Uruguay capital, services and people along its member states.
· It was extended in 1994 under the treaty of Ouro · It aims for the full economic integration of South America
Preto which set up a formal customs union · Mercosur aims to create a continent-wide free-trade
· Venezuela was officially welcomed in 2012 area, and the creation of a Mercosur development bank
· The EU is Mercosur's first trading partner, has been mooted.
accounting for 20% of Mercosur's total trade
· Mercosur tariff policies regulate imports and
exports and the bloc can arbitrate in trade
Member countries: Associate member countries:
disputes among its members
Argentina Bolivia
Type of trade bloc: Brazil Chile
It is known as the common market of the South. A Paraguay Columbia
common market eliminates internal barriers, adopts
common external barriers, and allows free Uruguay Ecuador
movement of resources among member countries. Venezuela Peru…read more


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