Trade blocks

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vardhanvishnug

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Regional trade blocks are intergovernmental associations that manage and promote trade activities for specific regions of the world. Is it better to have such trade blocks? Trade blocks can complement global trade but may become threat to free trade at the same time.....
 
Trading blocs are when groups of countries have established special preferential arrangements, governing trade between other members. Trading blocs are created to encourage trading partners to buy and sell goods already made in their home countriesThe reason by the formation of trading blocs can be characterized as a move from 'close regionalism' to a more open model. The most common reason for the formation of trading blocs today is not for taking advantage of the economic benefits of being a member of a trading bloc, but of increasing the international political and economic leverage of those nations that are members of the trading bloc. In particular, the European Union was formed with both of these goals in mind.
 
preferential trade areas:
European Union – ACP countries, formerly via the trade aspects of the Cotonou Agreement, later via Everything But Arms (EBA) agreements
India – Afghanistan (2003)
India – Mauritius
India – Nepal (2009)
India – Chile (2007)
India – MERCOSUR (2009)
the Generalized System of Preferences
Asia-Pacific Trade Agreement (1976)
ASEAN – PR China (2005)
Economic Cooperation Organization (ECO) (1992)
Global System of Trade Preferences among Developing Countries (GSTP) (1989)
Laos – Thailand (1991)
Latin American Integration Association (LAIA/ALADI) (1981)[3]
Melanesian Spearhead Group (MSG) (1994)
Protocol on Trade Negotiations (PTN) (1973)
South Asian Preferential Trade Arrangement (SAPTA) (1999)
South Pacific Regional Trade and Economic Cooperation Agreement (SPARTECA) (1981)
 
List of agreements between two states, two blocs or a bloc and a state.

ASEAN has bilateral agreements with the following countries and blocs:


ASEAN – Australia – New Zealand Free Trade Area (AANZFTA) is a free trade area between ASEAN and ANZCERTA, signed on 27 February 2009 and coming into effect on 1 January 2010
ASEAN–China Free Trade Area (ACFTA), in effect as of 1 January 2010
ASEAN–India Free Trade Area (AIFTA), in effect as of 1 January 2010
ASEAN–Japan Comprehensive Economic Partnership (AJCEP), entered into force on 1 December 2008
ASEAN–Korea Free Trade Area (AKFTA), in effect as of 1 January 2010
 
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