GROUPING OF NATIONS: G8, EU, NAFTA, ASEAN

G8 (FORMERLY G7):

The grouping of the richest nations in the world, whose leaders meet at regular
intervals.
Members; Japan, Germany, France, Italy, USA, UK, Canada, and Russia.
EU has observer status.

EUROPEAN UNION (EU):

Began in 1957 Treaty of Rome.

Original six members; France, Italy, Belgium, Netherlands, Luxembourg, and West
Germany)
Expanded gradually to incorporate another 27 members by 2007.

NORTH AMERICAN FREE TRADE AGREEMENT (NAFTA):

NAFTA came into effect in 1994.

Objective of eliminating most tariffs & other trade restrictions between USA, Canada,
and Mexico.

ASSOCIATION OF SOUTH EAST ASIAN NATIONS (ASEAN):

ASEAN developed from old SEATO anti-communist grouping in 1976.

Five original members; Indonesia, Malaysia, Philippines, Singapore, and Thailand.
Others joined since; Brunei, Vietnam, Laos, Myanmar, and Cambodia.
Objectives are to accelerate economic & social growth, and to promote regional peace
& stability.