1. Differentiate Global Integration (left) to Regional Integration (right).

 In the middle, write the similarities of

the two.

 Recognize the similarities between international  Efforts to reduce trade and investment
markets and integrate them into the overall barriers within one region.
global strategy.
 Both efforts to reduce trade and
investment barriers.  Regional integration helps countries overcome
 Efforts to reduce trade and investment divisions that impede the flow of goods,
barriers around the globe. services, capital, people and ideas. These
divisions are a constraint to economic growth,
 Improve market efficiency. especially in developing countries. The World
Bank Group helps its client countries to
promote regional integration through common
 Can involve the processes of product
physical and institutional infrastructure.
standardization and technology development
centralization.  Boost the economy of the country.

 Regional Economic Integration can best be

 Promote local products. defined as an agreement between groups of
 Global integration is the degree to which the
countries in a geographic region, to reduce
company is able to use the same products
and ultimately remove tariff and non-tariff
and methods in other countries. Local
barriers to the free flow of goods, services,
responsiveness is the degree to which the
and factors of production between each other.
company must customize their products and
methods to meet conditions in other
countries.
1. GATT- GATT stand for General Agreement on Tariffs and Trade; its main purpose of the GATT was substantial reduction of tariffs and other trade barriers and the
elimination of preferences, on a reciprocal and mutually advantageous basis. Another purpose of GATT was to reduce tariff. Before the GATT was formed, the tariff of each
country was very high. The result of setting high tariff was because after the Second World War the economy of every country was suffering from depression. So the
countries had to set high tariffs to protect their domestic producers and manufactures so that they could also protect their currency’s value. Lastly, educe discriminatory
treatment was also a purpose that the GATT was formed. Discriminatory treatment happened in a lot of countries that they tend to be bias to the country that they
favored.

2. WTO- World Trade Organization which is commonly abbreviated as World Trade Organization. World Trade organization (WTO) has a crucial role to play in the
international trade, global economics, political and legal issues arising in the international business because of the globalization. It has four roles in international trade:
WTO facilitates implementation, administration and smooth operations of trade agreements between the countries; It provides a forum for the trade negotiations between
its member countries; Settlements of disputes between the member countries through the established rules and regulations; and lastly ,It cooperates with the
IMF(International Monitory Fund) and World Bank in terms ofmaking cohesiveness in making global economic policies.

3. EU- European Union (EU) is a group of 28 countries that operates as a cohesive economic and political block. Nineteen of the countries use the euro as their official
currency. The EU is responsible for the trade policy of the member countries and negotiates agreements for them. Speaking as one voice, the EU carries more weight in
international trade negotiations than each individual member would. Furthermore, EU actively engages with countries or regional groupings to negotiate trade
agreements. The EU also supports and defends EU industry and business by working to remove trade barriers so that European exporters gain fair conditions and access to
other markets. At the same time, the EU supports foreign companies with practical information on how to access the EU market.

4. NAFTA- The North American Free Trade Agreement (NAFTA) was implemented in order to promote trade between the U.S., Canada, and Mexico. The agreement, which
eliminated most tariffs on trade between the three countries, went into effect on January 1, 1994. It has seven purposes: Grant the signatories (the countries that signed it)
a "most-favored-nation" status; Eliminate barriers to trade and facilitate the cross-border movement of goods and services; Promote conditions of fair competition;
Increase investment opportunities; Provide protection and enforcement of intellectual property rights; Create procedures for the resolution of trade disputes; Establish a
framework for further trilateral, regional, and multilateral.

5. ANZCERTA or CER- The Australia - New Zealand Closer Economic Relations Trade Agreement (known as ANZCERTA or the CER Agreement) is one of the most
comprehensive bilateral free trade agreements in existence. The following are its roles in international trade: Strengthen the broader relationship between Australia and
New Zealand; develop closer economic relations between the Member States through a mutually beneficial expansion of free trade between New Zealand and Australia
;eliminate barriers to trade between Australia and New Zealand in a gradual and progressive manner under an agreed timetable and with a minimum of disruption; develop
trade between New Zealand and Australia under conditions of fair competition.

6. ASEAN- The following are its roles: to accelerate economic growth, social progress, and cultural development in the region; to promote regional peace adn stability; to
promote collaboration and mutual assistance on matters of common interest; to provide assistance to each other in the form of training and research facilities; to
collaborate for the better utilization of agriculture and industry to raise the living standards of the people; to promote southeast asian studies; to maintain close,
beneficial co-operation with existing international organization with similar aims and purposes.

7. APEC- APEC has been a success story on regional economic integration, acting as an incubator for new trade policy approaches. APEC works to combat protectionist
pressures. These activities are increasingly important as we work towards economic recovery from COVID-19. We do so by: supporting services integration, working
towards a Free Trade Area of the Asia-Pacific, delivering strong advocacy for global value chains and open markets.

8. TPP- The TPP facilitates the development of production and supply chains, and seamless trade, enhancing efficiency and supporting our goal of creating and supporting
jobs, raising living standards, enhancing conservation efforts, and facilitating cross-border integration, as well as opening domestic markets.
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