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The World Wide Web and technological advances in telecommunications link trade partners across the globe.
Yet, this does not mean that trade barriers are non-existent. While the World Trade Organization (WTO)
promotes global multilateral free trade, regional trade blocks provide their members with the mechanisms for
competing in an aggressive global market.
Regardless of the size of your business, it is essential to know the international trade regulations that govern
your import and/or export operations. This article provides a brief description of each trade block – date
established, list of members, goals, population, and GDP (PPP). Links are provided for more detailed
information of trade agreements and tariffs.
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In general terms, regional trade blocks are associations of nations at a governmental level to promote trade
within the block and defend its members against global competition. Defense against global competition is
obtained through established tariffs on goods produced by member states, import quotas, government subsidies,
onerous bureaucratic import processes, and technical and other non-tariff barriers.
Since trade is not an isolated activity, member states within regional blocks also cooperate in economic, political,
security, climatic, and other issues affecting the region.
In terms of their size and trade value, there are four major trade blocks and a larger number of blocks of regional
importance.
The four major regional trade blocks are, as follows:
| asean |
ASEAN (Association of Southeast Asian Nations) Updated 7 April 2008
Established on August 8, 1967, in Bangkok/Thailand.
Member States: Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar,
Philippines, Singapore, Thailand, and Vietnam.
For a map of the region, click here.
Established on August 8, 1967, in Bangkok/Thailand.
Member States: Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar,
Philippines, Singapore, Thailand, and Vietnam.
For a map of the region, click here.
Goals: (1) Accelerate economic growth, social progress and cultural development in the region and (2) Promote
regional peace and stability and adhere to United Nations Charter.
Important Indicators:
Population approximately 565 million; GDP US$1.073 trillion; and Total Trade US$1.404 trillion (2006).
(Above statistics, as at 25 February 2008, were obtained from ASEAN Website.)
Check Out: Agreements signed during 13th ASEAN Summit in Singapore, November 18-22, 2007.
NEWS: For ASEAN monthly bulletins, click here.
MEETINGS AND EVENTS
regional peace and stability and adhere to United Nations Charter.
Important Indicators:
Population approximately 565 million; GDP US$1.073 trillion; and Total Trade US$1.404 trillion (2006).
(Above statistics, as at 25 February 2008, were obtained from ASEAN Website.)
Check Out: Agreements signed during 13th ASEAN Summit in Singapore, November 18-22, 2007.
NEWS: For ASEAN monthly bulletins, click here.
MEETINGS AND EVENTS
EU (European Union) Updated 8 April 2008
Founded in 1951 by six neighboring states as the European Coal and Steel Community (ECSC).
Over time evolved into the European Economic Community, then the European Community and,
in 1992, was finally transformed into the European Union.
Regional block with the largest number of members states (27). These include Austria, Belgium,
Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece,
Founded in 1951 by six neighboring states as the European Coal and Steel Community (ECSC).
Over time evolved into the European Economic Community, then the European Community and,
in 1992, was finally transformed into the European Union.
Regional block with the largest number of members states (27). These include Austria, Belgium,
Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece,
| E U |
Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Poland, Portugal, Romania, Slovakia, Slovenia,
Spain, Sweden, The Netherlands, and the United Kingdom.
For a map of the Union, click here.
Goals: Evolved from a regional free-trade association of states into a union of political, economic and executive
connections.
Population estimated at over 497 million (Eurostat 2008 est.)
GDP (PPP) estimated at US$14,52 trillion (IMF 2007).
Check Out: Directory of Community Legislation (01/03/2008) for treaties, international agreements,
legislation in force and other related issues.
For up-to-date trade news: Visit EurActiv – an independent media portal fully dedicated to EU affairs. The
content usage is free.
Spain, Sweden, The Netherlands, and the United Kingdom.
For a map of the Union, click here.
Goals: Evolved from a regional free-trade association of states into a union of political, economic and executive
connections.
Population estimated at over 497 million (Eurostat 2008 est.)
GDP (PPP) estimated at US$14,52 trillion (IMF 2007).
Check Out: Directory of Community Legislation (01/03/2008) for treaties, international agreements,
legislation in force and other related issues.
For up-to-date trade news: Visit EurActiv – an independent media portal fully dedicated to EU affairs. The
content usage is free.
MERCOSUR (Mercado Comun del Cono Sul - Southern Cone Common Market)
Updated 9 April 2008
Official site is available only in Spanish and Portuguese. Click here for information in
English.
Established on 26 March 1991 with the Treaty of Assunción.
Full members include Argentina, Brazil, Paraguay, Uruguay, and Venezuela. Associate
Updated 9 April 2008
Official site is available only in Spanish and Portuguese. Click here for information in
English.
Established on 26 March 1991 with the Treaty of Assunción.
Full members include Argentina, Brazil, Paraguay, Uruguay, and Venezuela. Associate
| MERCOSUR MERCOSUL |
members include Bolivia, Chile, Colombia, Ecuador, and Peru. Associate members have access to preferential
trade but not to tariff benefits of full members. Mexico, interested in becoming a member of the region, has an
observer status.
For a map of the region, click here.
Goals: Integration of member states for acceleration of sustained economic development based on social justice,
environmental protection, and combating poverty.
Population: More than 365 million people (2006 est.)
GDP (PPP) of more than US$2.42 trillion (2006 est). It is the fourth largest economical region with the largest
reserve of natural resources in the world.
In December 2004 Mercosur signed a cooperation agreement with the Andean community. In July 2005,
Mercosur’s full members were granted associate membership. The two blocks are expected to be fully integrated
by the Summit to be held in Colombia in December 2007.
Check Out: Documents from the Council of the Securities Regulators of the Americas (COSRA), Multilateral
Cooperation Declarations Endorsed by CVM (Chairman of the International Organization of Securities
Commissions-IOSCO), Rules and issues related to WTO and FTAA.
NEWS: Visit MercoPress – an independent news agency operating from Montevideo, Uruguay, the
administrative headquarters of Mercosur, that focuses on news from member states.
trade but not to tariff benefits of full members. Mexico, interested in becoming a member of the region, has an
observer status.
For a map of the region, click here.
Goals: Integration of member states for acceleration of sustained economic development based on social justice,
environmental protection, and combating poverty.
Population: More than 365 million people (2006 est.)
GDP (PPP) of more than US$2.42 trillion (2006 est). It is the fourth largest economical region with the largest
reserve of natural resources in the world.
In December 2004 Mercosur signed a cooperation agreement with the Andean community. In July 2005,
Mercosur’s full members were granted associate membership. The two blocks are expected to be fully integrated
by the Summit to be held in Colombia in December 2007.
Check Out: Documents from the Council of the Securities Regulators of the Americas (COSRA), Multilateral
Cooperation Declarations Endorsed by CVM (Chairman of the International Organization of Securities
Commissions-IOSCO), Rules and issues related to WTO and FTAA.
NEWS: Visit MercoPress – an independent news agency operating from Montevideo, Uruguay, the
administrative headquarters of Mercosur, that focuses on news from member states.
| NAFTA |
NAFTA (North American Free Trade Agreement) Updated 9 April 2008
Agreement signed on 1 January 1994.
Members: Canada, Mexico, and the United States of America.
Click here for map of the region.
Goals: Eliminate trade barriers among member states, promote conditions for free trade,
increase investment opportunities, and protect intellectual property rights.
Agreement signed on 1 January 1994.
Members: Canada, Mexico, and the United States of America.
Click here for map of the region.
Goals: Eliminate trade barriers among member states, promote conditions for free trade,
increase investment opportunities, and protect intellectual property rights.
Population of over 445 million (2008 est.) - third largest world population by region.
GDP (PPP) over US$15.8 trillion (IMF 2007 est.)
Check Out: Legal texts - Agreement, Rules of Procedures, Code of Conduct, and Procedural Forms.
Learn More: USDA - Foreign Agricultural Service provides information on benefits of NAFTA, NAFTA Fact
Sheet, NAFTA Agriculture Fact Sheets, and more.
WHAT'S NEW?: Publication of recent decisions made.
Benefits for US companies and export procedures.
GDP (PPP) over US$15.8 trillion (IMF 2007 est.)
Check Out: Legal texts - Agreement, Rules of Procedures, Code of Conduct, and Procedural Forms.
Learn More: USDA - Foreign Agricultural Service provides information on benefits of NAFTA, NAFTA Fact
Sheet, NAFTA Agriculture Fact Sheets, and more.
WHAT'S NEW?: Publication of recent decisions made.
Benefits for US companies and export procedures.
Other regional trade blocks, regional economic partnerships and free trade associations
include the following: (Updated 9 April 2008)
ANDEAN (Andean Community Countries) – Bolivia, Colombia, Ecuador, and Peru.
Associate Members: Argentina, Brazil, Paraguay, and Uruguay.
Observer Countries: Mexico and Panama.
BSEC (Black Sea Economic Cooperation) – Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Hellenic
Republic, Moldova, Romania, Russian Federation, Serbia, Turkey, and Ukraine.
CARICOM (Caribbean Community) – Antigua & Barbuda, The Bahamas, Barbados, Belize, Dominica,
Grenada, Guyana, Haiti, Jamaica, Montserrat, Saint Kitts & Nevis, Saint Lucia, Saint Vincent & The Grenadines,
Surinam, and Trinidad & Tobago.
CIS (Commonwealth of Independent States)
Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyz, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine,
and Uzbekistan.
COMESA (Common Market for Eastern and Southern Africa)
Burundi, Comoros, Democratic Republic of the Congo, Djibouti, Egypt, Eritrea, Ethiopia, Kenya, Libya,
Madagascar, Malawi, Mauritius, Rwanda, Seychelles, Sudan, Swaziland, Uganda, Zambia, Zimbabwe.
ECOWAS (Economic Community of West African States)
Benin, Burkina Faso, Cape Verde, The Gambia, Ghana, Guinea, Guinea Bissau, Ivory Coast, Liberia, Mali,
Niger, Nigeria, Senegal, Sierra Leone, and Togo.
EFTA (European Free Trade Association) – Iceland, Liechtenstein, Norway, and Switzerland.
GCC (Gulf Cooperation Council) – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates
(UAE)
MEFTA (Middle East Free Trade Area)
Countries which have signed Free Trade Agreements (FTAs), Trade and Investment Framework Agreements
(TIFAs), or receive active U.S. support for WTO accession include Algeria, Bahrain, Egypt, Iraq, Israel, Jordan,
Kuwait, Lebanon, Morocco, Oman, Qatar, Saudi Arabia, Tunisia, United Arab Emirates, and Yemen.
Pacific Community – comprised of the 22 Pacific island countries and territories of American Samoa, Cook
Islands, Fiji Islands, French Polynesia, Guam, Kiribati, Marshall Islands, Micronesia, Nauru, New Caledonia, Niue,
Northern Mariana Islands, Palau, Papua New Guinea, Pitcairn Islands, Samoa, Solomon Islands, Tokelau,
Tonga, Tuvalu, Vanuatu, Wallis and Futuna, and the founding countries of Australia, France, New Zealand and
the United States of America.
SADC (Southern Africa Development Community)
Angola, Botswana, Democratic Republic of Congo, Lesotho, Madagascar, Malawi, Mauritius, Mozambique,
Namibia, Seychelles, South Africa, Swaziland, Tanzania, Zambia, and Zimbabwe.
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