abhishreshthaa
Abhijeet S
ECONOMIC INTEGRATION
Some countries create business opportunities for themselves by integrating their economies in order to avoid unnecessary competition among themselves and also from the other countries, economic integration of counties have several levels and they are from least integrated to most integrated, they are a free trade area, a customs union, a common market, an economic union, and a full political union.
It covers different kinds of arrangements between or among countries by which two or more countries link their economies closer either in part or in total.
They maintain the cohesiveness among or between the countries through tariffs. They also discriminate against goods produced by other countries.
In a free trade area ,all barriers to the trade of goods and services among members are removed .In the theoretically idea free trade area ,discriminatory tarrifs,quotas ,subsidies ,administrative impediments are allowed to distort trade between members .
Each country ,however ,is allowed to determine its own trade policies with regard to nonmembers .thus for example ,the tariffs placed on the products of nonmember countries may vary from member to member.
Some countries create business opportunities for themselves by integrating their economies in order to avoid unnecessary competition among themselves and also from the other countries, economic integration of counties have several levels and they are from least integrated to most integrated, they are a free trade area, a customs union, a common market, an economic union, and a full political union.
It covers different kinds of arrangements between or among countries by which two or more countries link their economies closer either in part or in total.
They maintain the cohesiveness among or between the countries through tariffs. They also discriminate against goods produced by other countries.
In a free trade area ,all barriers to the trade of goods and services among members are removed .In the theoretically idea free trade area ,discriminatory tarrifs,quotas ,subsidies ,administrative impediments are allowed to distort trade between members .
Each country ,however ,is allowed to determine its own trade policies with regard to nonmembers .thus for example ,the tariffs placed on the products of nonmember countries may vary from member to member.