Regional Economic Integration-International Marketing

7/31/2019 Regional Economic Integration-International Marketing

1/17

Presented by :Anita Sharma (5A)Deepali Agrawal(12A))

Presentation

on

Regional Economic Integration


2/17

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.


3/17

Regional

EconomicIntegration

Free Trade Area

Customs Union

Common Market

Economic Union

Political Union


4/17

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


5/17

Benefits of Regional Economic

Integration

Trade Creation

Greater Consensus

Political Cooperation

Global presence of local businesses

Foreign competition


6/17

Drawbacks of Regional EconomicIntegration

Trade Diversion

Shifts in Employment

Less National Sovereignty

Backlash of Globalisation


7/17

Fact of NAFTA

North American Free Trade Agreement

--- becoming law in January 1, 1994

--- three countries:the US, Canada, Mexico


8/17

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


9/17

ASEAN:fact file

The Association of Southeast Asian

Nations

Ten countries:Brunei , Indonesia, Malaysia,

Myanmar, Singapore, Thailand, the

Philippines, Viet Nam, Laos andCambodia


10/17

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.


11/17
http://www.apec.org/apec/tools/home.html


12/17

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


13/17

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.


14/17

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.


15/17

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


16/17

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 .


17/17

Regional Economic Integration-International Marketing

Documents

Transcript of Regional Economic Integration-International Marketing