07.+Trade+Agreements

Multi-Lateral APEC is a forum which consists of 21 countries to cooperate on regional trade and investment liberalisation and facilitation. its main objective is to enhance economic growth and prosperity in the region and to strengthen the asian pacific community. members within this forum account for about 40 percent of the worlds total population and around 44 percent of total trade. APEC operates with the intention of fulfilling three pillars which play a significant role in the involvement this forum has. these threee pillars conosist of, 1.trade and investment liberalisation, 2.business facilitation, 3.economic and technical cooperation.
 * //__Trade Agreements__//**:
 * APEC (Leo)**

EU is the most important trade bloc in the world economy. The EU has absorbed former communist countries including Poland, Hungary, Czech Republic. In the 1950's this trading bloc has helped break down trade barriers with Europe. There is increase protection on their trading bloc which has implications for non- eupopean countries such as Australia and America. The introduction of the EURO which is the common currency has led to the creation of a ' single market' making trade more efficient, ranking the 2nd most important currency after the US dollar.
 * EU (Monique)**

NAFTA is the North American Free Trade Agreement which was signed by the governments of Mexico, Canada and the United States, this created a trilateral trade bloc in North America. The Goal that NAFTA aimed to achieve was the elimination of trade barriers and investment between the 3 countries. the immediate implemetation of this agreement saw more than one half of US imports and more than 1/3 of Mexican imports. The overall aim was to completley eliminate all tarrifs and barriers between these 3 countries within 10 years. Benefits of this Agreement is that mexico has seen a decrease in its poverty raiting and real income rise. Some argue that with the giants domininating the market mexican farmers get left out and the prices of their produce decrease.
 * NAFTA (Ben)**

Association of South-East Asian Nations consists of 10 full time members. These members include Brunei, Burma, Cambodia, Indonesia, Laos, Thailand, Vietnam, Malasya, Singapore, and The Phillipines. This trade bloc was used to help strengthen members economies, social factors and help keep peace in all regions of South-East Asia. It is one of the most predominant trade blocs in Asia and even the world.
 * ASEAN (Daniel)**

Bilateral The Closer Economic Relations Trading Agreement has been recognised as one of the most successful bilaterial agreements established. Australia had established its first trade agreement wit the New Zealand and Australia free trade agreement in 1965.In 1988 the two countries had agreed to implement free trade in goods and services from 1990. Dicussions also occured in relations to increase harmonisation and compeition policy. The trading agreement has lead to the elimination of tariffs and other quantitative restrictions on trade between New Zealand and Australia.
 * CERTA (Franco)**

Angelo - to add discussion questions for pages 5,6 and 7! []

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[] NAFTA [] CARINS GROUP []