MGC2120 Chapter Notes - Chapter 9: Economic Union, Customs Union, Economic Integration
8 Sep 2013
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International business chapter 9 regional economic integration. Free trade area: all barriers to the trade of goods and services among member countries are removed. Eg: no discriminatory tariffs, quotas, subsidies, or administrative impediments. European free trade association (efta): most enduring free trade area in the world. Customs union eliminates trade barriers between member countries and adopts a common external trade policy. It is difficult somehow to get all countries to agree to a common set of rules. The political case for ri. Political cooperation: linking neighboring economies, making them increasingly depends on each other. Impediments to integration firstly, integration has costs. The case for regional integration. The economic case for ri. Political structure of the eu. Regional economic integration in europe. 2) the european nations" desire to hole their own on the world"s political and economic stage. The treaty of rome was signed in 1957, the european community was established. It provided for the creation of a common market.
