Project Trade Blocs
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Trade blocs and free trade agreements aim to reduce trade barriers between participating countries. The document discusses several trade blocs and agreements including OPEC, the European Economic Community, NAFTA, UNCTAD, and WTO agreements. It provides brief descriptions of the objectives and functions of these organizations. The document also lists some benefits and potential negatives of trade blocs and free trade agreements on international trade.
![NAFTANAFTA is an agreement signed by the governments of the United States, Canada, and Mexico creating a trilateral trade bloc in North America. The agreement came into force on January 1, 1994.In terms of combined purchasing power parity GDP of its members, as of 2007[update] the trade block is the largest in the world.This agreement will remove most barriers to trade and investment among the United States, Canada, and Mexico. Under the NAFTA, all non-tariff barriers to agricultural trade between the United States and Mexico were eliminated. In addition, many tariffs were eliminated immediately, with others being phased out over periods of 5 to 15 years. This allowed for an orderly adjustment to free trade with Mexico, with full implementation beginning January 1, 2008.](https://image.slidesharecdn.com/projecttradeblocs-090923170710-phpapp01/85/Project-Trade-Blocs-11-320.jpg)
Project Trade Blocs
- 1. TRADE BLOCKS AND FREE TRADE AGREEMENTSPRESENTED BY:Deepika PandeyDivya GadeockTarun Khurana
- 2. Trade BlocsDEFINITIONA trade bloc is a type of intergovernmental agreement, often part of a regional intergovernmental organization, where regional barriers to trade (tariffs and non-tariff barriers) are reduced or eliminated among the participating states.
- 3. TYPES OF TRADE BLOCs
- 4. List of Trade Blocs
- 5. List of Trade Blocs
- 6. OPECThe Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization, created at the BAGHDAD CONFERENCE on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The five Founding Members were later joined by nine other Members: Qatar IndonesiaSocialist Peoples Libyan Arab Jamahiriya United Arab Emirates AlgeriaNigeria EcuadorAngola Gabon
- 7. OPECHEADQUARTERS : ViennaOBJECTIVE: To co-ordinate and unify petroleum policies among Member Countries, in order to secure fair and stable prices for petroleum producersAn efficient, economic and regular supply of petroleum to consuming nationsTo ensure a fair return on capital to those investing in the industry.
- 8. Functions of OPECReview the status of the international oil market and the forecasts for the future in order to agree upon appropriate actions which will promote Price stability in the oil market. Decisions about matching oil production to expected demand are taken at the Meeting of the OPEC Conference.Provides research and administrative support to the Secretariat body who disseminates news and information to the World at large.
- 9. European committee (EC) The European Economic Community (EEC) (also referred to European Community, or the Common Market) was an international organization that existed between 1958 and 1993 which was created to bring about economic integration (including a single market) between Belgium, France, Germany, Italy, Luxembourg and the Netherlands.OBJECTIVES :To ensure the economic and social progress of their countries by common action to eliminate the barriers which divide EuropeRecognizing that the removal of existing obstacles calls for concerted action in order to guarantee steady expansion, balanced trade and fair competition
- 10. European committee (EC) To strengthen the unity of their economies and to ensure their harmonious development by reducing the differences existing between the various regions and the backwardness of the less-favored regionsIntending to confirm the solidarity which binds Europe and the overseas countries and desiring to ensure the development of their prosperityResolved by thus pooling their resources to preserve and strengthen peace and liberty
- 11. NAFTANAFTA is an agreement signed by the governments of the United States, Canada, and Mexico creating a trilateral trade bloc in North America. The agreement came into force on January 1, 1994.In terms of combined purchasing power parity GDP of its members, as of 2007[update] the trade block is the largest in the world.This agreement will remove most barriers to trade and investment among the United States, Canada, and Mexico. Under the NAFTA, all non-tariff barriers to agricultural trade between the United States and Mexico were eliminated. In addition, many tariffs were eliminated immediately, with others being phased out over periods of 5 to 15 years. This allowed for an orderly adjustment to free trade with Mexico, with full implementation beginning January 1, 2008.
- 13. UNCTADEstablished in 1964, UNCTAD promotes the development-friendly integration of developing countries into the world economy. UNCTAD has progressively evolved into an authoritative knowledge-based institution whose work aims to help shape current policy debates and thinking on development, with a particular focus on ensuring that domestic policies and international action are mutually supportive in bringing about sustainable development. The organization works to fulfill this mandate by carrying out three key functions: Forum for intergovernmental deliberationsResearch, policy analysis and data collectionTechnical assistance
- 14. UNCTADBrief overview of activities:
- 15. Free Trade AgreementDefinition Sovereign nations join together, usually on a regional scale, to create free trade agreements. Purpose Free trade agreements are created to lower trade barriers and to stimulate trade between member countries. Member countries belonging to the free trade area trade freely with each other while maintaining trade barriers and tariffs for non-member countries.
- 16. List of Free trade agreementsAsia-Pacific Trade Agreement (APTA)
- 17. ASEAN Free Trade Area (AFTA)
- 18. ASEAN Plus Three
- 19. ASEAN-Australia-New Zealand Free Trade Area (AANZFTA)
- 20. African Free Trade Zone (AFTZ)
- 22. Central European Free Trade Agreement (CEFTA)
- 23. Dominican Republic – Central America Free Trade Agreement (DR-CAFTA)
- 24. North American Free Trade Agreement (NAFTA)
- 25. South Asia Free Trade Agreement (SAFTA)
- 26. Latin American Integration Association (ALADI)
- 27. European Economic Area (EEA)
- 28. Commonwealth of Independent States Free Trade Agreement (CISFTA)
- 29. Economic Community of West African States (ECOWAS) World Trade Organization AgreementsAgreement on Agriculture
- 30. Agreement on the Application of Sanitary and Phytosanitary Measures
- 31. Agreement on Technical Barriers to Trade
- 32. Agreement on Trade-Related Aspects of Intellectual Property Rights
- 33. General Agreement on Trade in ServicesMembers (including dual-representation with the European Communities)Draft Working Party Report or Factual Summary adopted Goods and/or Services offers submitted Memorandum on Foreign Trade Regime submitted Observer, negotiations to start later or no Memorandum on FTR submitted Frozen procedures or no negotiations in the last 3 years No official interaction with the WTO
- 34. WTO AgreementsAgreement on Agriculture: The AoA has three central concepts, or "pillars": domestic support, market access and export subsidies.Agreement on the Application of Sanitary and Phytosanitary Measures: Under the SPS agreement, the WTO sets constraints on members' policies relating to food safety (bacterial contaminants, pesticides, inspection and labeling) as well as animal and plant health (imported pests and diseases).Agreement on Technical Barriers to Trade: The object ensures that technical negotiations and standards, as well as testing and certification procedures, do not create unnecessary obstacles to trade".
- 35. WTO AgreementsAgreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS): The Agreement on Trade-Related Aspects of Intellectual Property Rights sets down minimum standards for many forms of intellectual property (IP) regulation.General Agreement on Trade in Services: was created to extend the multilateral trading system to service sector, in the same way the General Agreement on Tariffs and Trade (GATT) provides such a system for merchandise trade.
- 36. WTO AgreementsTrade related investment measures (TRIMS):Rules that apply to the domestic regulations, often as apart of an industrial policy.Prohibitions under TRIMS
- 37. WTO Agreements and India
- 38. Impact on international tradePositive FTAs and trade blocs as drivers for liberalization.Members obtain preferred access to the markets of other members.Reduce trade irritants and restrictions.Negative The problem of trade diversion.FTAs and trade blocs only confer economic advantages when they are negotiated with countries which are significant trading partners.Increase the complexity of the international trading systemRaise transaction costs for business.Increased costs for the trading blocks or the organizations.
- 39. W