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  • Trading Blocs: This Photo by Unknown Author Is Licensed Under CC BY-SA

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    Prabha Doraiswamy
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    A trading bloc is a formal agreement between countries in a region to remove trade barriers between member countries while maintaining them with non-member countries. There are different types of trading blocs ranging from preferential trade areas to full political unions. The advantages of trading blocs include increased trade, market access, economies of scale, and jobs within the bloc. However, trading blocs can also result in trade distortions, inefficiencies, job losses, and retaliation from countries outside the bloc. Common examples of trading blocs are the EU, NAFTA, ASEAN, and SAARC.

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    Trading Blocs

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    A trading bloc is a formal agreement between countries in a region to remove trade barriers between member countries while maintaining them with non-member countries. There are different types of trading blocs ranging from preferential trade areas to full political unions. The advantages of trading blocs include increased trade, market access, economies of scale, and jobs within the bloc. However, trading blocs can also result in trade distortions, inefficiencies, job losses, and retaliation from countries outside the bloc. Common examples of trading blocs are the EU, NAFTA, ASEAN, and SAARC.

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    6 views5 pages

    Trading Blocs: This Photo by Unknown Author Is Licensed Under CC BY-SA

    Uploaded by

    Prabha Doraiswamy
    A trading bloc is a formal agreement between countries in a region to remove trade barriers between member countries while maintaining them with non-member countries. There are different types of trading blocs ranging from preferential trade areas to full political unions. The advantages of trading blocs include increased trade, market access, economies of scale, and jobs within the bloc. However, trading blocs can also result in trade distortions, inefficiencies, job losses, and retaliation from countries outside the bloc. Common examples of trading blocs are the EU, NAFTA, ASEAN, and SAARC.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    This Photo by Unknown Author is licensed under CC BY-SA

    Trading Blocs
    A trading bloc is a formal agreement between two or more
    regional countries that remove trade barriers between the
    countries in the agreement while keeping trade barriers for
    other countries.

    Trading
    Types of Trading Blocs
     Preferential Trade Area

    Blocs  Free trade area


     Customs union
     Common market
     Economic & monetary union
     Political union
     Free trade within the bloc
    Advantages  Market access & trade creation
    of Trading  Economies of scale

    Blocs  Jobs
     Protection
     Consensus & cooperation
    LOSS OF BENEFITS DISTORTION OF INEFFICIENCIES &
    DISADVANTAGES TRADE TRADE DIVERSION

    OF TRADING
    BLOCS

    RETALIATION EMPLOYMENT
    SHIFTS &
    REDUCTIONS
    Examples of •
    •
    EU
    NAFTA
    Trading • ASEAN
    blocs • SAARC

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