Trading blocs types and examples


The member states may adopt common economic policies, e. ASEAN has a population of approximately million people, 8. Copyright - Triple A Learning. Customs Union In a Customs Union, countries have free trade amongst themselves, as in an FTA, but they are trading blocs types and examples longer fully sovereign over trade policy. Economic Union This is a common market where the level of integration is more developed.

Inthe former East Germany became part of the Community as part of a newly united Germany. Turkey has been an associate member of the EU since Greece then joined inand Spain and Portugal in Copyright - Triple A Learning.

Copyright - Triple A Learning. Table of Contents Topic pack - introduction 1. However, strong elements in Germany, France, and the Netherlands oppose Turkey's bid.

Table of Contents Topic pack - International economics - introduction Terms and definitions Games and activities International Organisations Section 4. Copyright - Triple A Learning. The European Union is also a common market and people and capital can flow between EU members without restriction. Trading blocs There are a number of types of trade blocs:

Turkey has been an associate member of the EU since There will be some degree of standardisation of trade policies. Customs Union In a Customs Union, countries have free trade amongst themselves, as in trading blocs types and examples FTA, but they are no longer fully sovereign over trade policy. Turkey has been an associate member of the EU since

In terms of population trading blocs types and examples will be the largest trade area in the world, with nearly 1. The EU is likely to see additional enlargement in the next few years. All members have most favoured nation statuswhich means that they are all treated equally.