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Flashcards in Trade Blocs and Agreements Deck (44)
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1

what is a trade bloc

is a type of intergovernmental agreement where regional barriers to trade (tariffs and non tariff barriers) are reduced or eliminated among the participating states

2

advantage of trade blocs for the customer

goods come in at a cheaper price as there are no tariffs

3

how do trade blocs impact population (advantage)

immigration is made easier between countries (less regulations)- many move to countries with more opportunity

4

what is the agreement in EU countries which allows travel to be easier

Schengen agreement (can cross borders without passports)

5

advantage of trade blocs for trade

encourages internal trade within the block
new trade links established

6

how do trade blocs help world peace

it makes countries more politically stable - so won't go to war with countries that are within your bloc as it will impact you negatively

7

how do trade blocs impact core and periphery nations within the bloc (negative)

core and periphery nations mean not all countries are equal- some are at a greater advantage than others (inequality)
periphery nations suffer as there is an aging population-young skilled labour moves out
inequality in cost- some countries put in more than they get out (eg UK)

8

trade blocs can cause ... for countries outside of the bloc

isolation (as they discourage external trade)

9

how can the trade bloc system be abused

sometimes countries won't work hard as they know they will be bailed out by member countries

10

how many countries are in the EU

28

11

examples of countries in the EU

Austria, Cyprus, Germany, France, Lithuania, UK, Sweden

12

why have many countries joined the EU

to boost their inward economy

13

example of a country that has been denied EU membership

Turkey- has led them to becoming isolated, unable to trade with surrounding countries without paying high tariffs and import tax

14

what are the 'four freedoms' within the EU

the cheaper and easier movement of: goods, services, people and money

15

countries within the EU have raised concerns about its...

relaxed immigration policy

16

how has the EU also tried to make the trade of capital more efficient

standardised currency

17

how has the EU benefitted the environment

EU have pledged to reduce carbon emissions in member countries

18

what does the EU have in order to protect its citizens

has human and legal rights in place to protect the citizens of member states in the hope that it would help to prevent the mistreating of people and the misuse of justice

19

what does SAARC stand for

South Asian Association for Regional Cooperation

20

how many countries are in SAARC

8

21

examples of countries within SAARC

India, Bangladesh, Pakistan, Maldives, Afghanistan

22

when was SAARC set up

1985

23

what are the 5 main improvement goals within SAARC

development of human resources
science and technology
population and health improvement
rural development
transport improvement

24

what industries have been improved as a result of SAARC

motor vehicle agreement between Bhutan, Bangladesh, India and Nepal which allows for the smooth transfer of passenger and cargo vehicles across borders with no interference
tourism industry improved due to relaxed visa policies

25

has SAARC altered anything other than the trade of goods and services

have been joining forces to combat terrorism- includes the police forces working together to track suspects
also attempted to tackle issues such as gender inequality

26

what does EFTA stand for

European free trade association

27

who is in EFTA

Iceland
Liechenstein
Norway
Switzerland

28

what is the aim of EFTA

to promote free trade and economic integration to benefit its members

29

even though countries within EFTA trade between themselves, the EFTA states also negotiate ..

free trade agreements (FTAs) with partners outside of the European union

30

how many FTAs does EFTA have

27 covering 38 countries - wide network