ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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geographical closeness
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guaranteed price
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a different level of development and technological capabilities
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similar market sizes
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Detailed explanation-1: -Regional trading agreements refer to a treaty that is signed by two or more countries to encourage the free movement of goods and services across the borders of its members. The agreement comes with internal rules that member countries follow among themselves.
Detailed explanation-2: -Regional trade agreements generally take on one of four forms: free trade areas, customs unions, common markets and economic unions. Free trade areas occur when member countries eliminate tariffs and trade barriers, but maintain individual foreign trade policies.
Detailed explanation-3: -As of 1 December 2022, 355 RTAs were in force. These correspond to 582 notifications from WTO members, counting goods, services and accessions separately.
Detailed explanation-4: -Australia Free Trade Agreement (AUFTA) Bahrain Free Trade Agreement (BHFTA) Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) Chile Free Trade Agreement (CLFTA) Colombia Trade Promotion Agreement (COTPA) Israel Free Trade Agreement (ILFTA) Japan Trade Agreement (USJTA) More items •24-Jan-2023