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7/31/2019 Regional Economic Integration-International Marketing
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Presented by :Anita Sharma (5A)Deepali Agrawal(12A))
Presentation
on
Regional Economic Integration
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REGIONAL ECONOMIC INTEGRATION
Regional economic integration is anagreement among countries in ageographic region to reduce and
ultimately remove, tariff and non tariffbarriers to the free flow of goods orservices and factors of production among
each others.
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Regional
EconomicIntegration
Free Trade Area
Customs Union
Common Market
Economic Union
Political Union
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Free Trade Area
E.g. EFTA
The European Free Trade Association)
(1) established in1960(2) 4 countries
(3) free trade in industrial goods
(4) with different policy in
agriculture and to outsiders
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Benefits of Regional Economic
Integration
Trade Creation
Greater Consensus
Political Cooperation
Global presence of local businesses
Foreign competition
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Drawbacks of Regional EconomicIntegration
Trade Diversion
Shifts in Employment
Less National Sovereignty
Backlash of Globalisation
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Fact of NAFTA
North American Free Trade Agreement
--- becoming law in January 1, 1994
--- three countries:the US, Canada, Mexico
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Fact ofEFTA
(The European Free Trade Association)
(1) Established in1960
(2) 4 countries(3) Free trade in industrial goods
(4) With different policy in
agriculture and to outsiders
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ASEAN:fact file
The Association of Southeast Asian
Nations
Ten countries:Brunei , Indonesia, Malaysia,
Myanmar, Singapore, Thailand, the
Philippines, Viet Nam, Laos andCambodia
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Contd.
*Established : on 8 August 1967 inBangkok
*Population : about 500 million
*Area: 4.5 million square kilometers
*GDP : US$737 billion
*Trade : US$ 720 billion.
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http://www.apec.org/apec/tools/home.html7/31/2019 Regional Economic Integration-International Marketing
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Introduction
1) status:
APEC: the premier forum for
facilitating economic growth, cooperation,trade and investment in the Asia-Pacific
region.
non-binding commitments and notreaty obligations
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APEC is the only inter governmental grouping in the
world operating on the basis ofnon-binding commitments,
open dialogue and equal respect for the views of all
participants. Unlike the WTO or other multilateral tradebodies, APEC hasno treaty obligations required of its
participants. Decisions made within APEC are reached
by consensus and commitments are undertaken on a
voluntary basis.
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Contd.
2) 21 members (December 2004)
referred to as "Member Economies"
Australia; Brunei Darussalam; Canada; Chile; People'sRepublic of China; Hong Kong, China; Indonesia;Japan; Republic of Korea; Malaysia; Mexico; NewZealand; Papua New Guinea; Peru; The Republic ofthe Philippines; The Russian Federation; Singapore;Chinese Taipei; Thailand; United States of America;
Viet Nam.
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2) GDP: approximately 60% of world
(US$19, 254 billion)
3) World trade: 40%4) the most economically dynamic region :
generated nearly 70% of global
economic growth in its first 10 years.
5) established in 1989
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South Asian Association for Regional
Cooperation founded in December 1985
Sri Lanka, Bhutan, India, the Maldives, Nepal, Pakistan,and Bangladesh. Afghanistan
Headquartered in Kathmandu, Nepal.
The 16 stated areas of cooperation are agriculture andrural, biotechnology, culture, energy, environment,economy and trade, finance, funding mechanism, humanresource development, poverty alleviation, people topeople contact, security aspects, social development,science and technology; communications, tourism .
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