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  • Class Assignment Stefany Rosa Melynda Utomo/ 171223175

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    Stefany
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    Regional economic integration aims to promote free trade within a region by removing barriers like tariffs and quotas between member countries. In a free trade area, each country determines its own policies for nonmembers, such as tariffs on imports from outside the bloc. A customs union goes further by adopting a common external trade policy to govern trade relations with nonmember countries.

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    Regional economic integration aims to promote free trade within a region by removing barriers like tariffs and quotas between member countries. In a free trade area, each country determines its own policies for nonmembers, such as tariffs on imports from outside the bloc. A customs union goes further by adopting a common external trade policy to govern trade relations with nonmember countries.

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    12 views1 page

    Class Assignment Stefany Rosa Melynda Utomo/ 171223175

    Uploaded by

    Stefany
    Regional economic integration aims to promote free trade within a region by removing barriers like tariffs and quotas between member countries. In a free trade area, each country determines its own policies for nonmembers, such as tariffs on imports from outside the bloc. A customs union goes further by adopting a common external trade policy to govern trade relations with nonmember countries.

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    CLASS ASSIGNMENT

    Stefany Rosa Melynda Utomo/ 171223175


    1. Regional economic integration is designed to promote a free trade within a region to
    produce benefits for all the member countries. In a free trade area, all barriers to
    trade good and service among the member countries are removed, such as tariffs,
    quotas, subsidies, and administrative impediments. In this situation, each country is
    allowed to determine its own policies with regard to nonmembers, for example the
    tariff for importing good from nonmember countries may vary from member to
    member. Furthermore, there is also custom union in the regional economic
    integration, it will eliminate trade barriers between member countries and adopt a
    common external trade policy. The common external trade policy will oversee trade
    relationship between the members and nonmembers.

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