GMS 724 Chapter Notes - Chapter 7: North American Free Trade Agreement, Andean Community, Asia-Pacific Economic Cooperation
31 Mar 2015
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Bilateral integration two countries decide to cooperate more closely together, usually in. Economic integration is a term used to describe the political and monetary agreements among nations and world regions in which preference is given to member countries. There are three ways to approach such agreements: the form of tariff reduction decide to cooperate, as with the european union. Global integration countries from all over the world decide to cooperate through the. Regional integration a group of countries located in the same geographic proximity: mne"s are interested in regional trade groups becayse they tend to be regional as well. Companies that sell in their own region are also interested in trade agreements with other regions. In 1947, 23 countries formed gatt under the auspices of the united nations to abolish quotas and reduce tariffs. By the time the wto replaced gatt in 1995, 125 nations had become members.
