Feature of the Month: Trade Blocs

As business and trade around the world become more globalized, the importance and influence of trade blocs is also increasing. Trade blocs are formed as a way to increase trade and cooperation between member countries, while also allowing member countries to gain more power in the global economy. These trade blocs, which are often regionally based, can have a significant impact on international business, forging bonds between countries and creating larger, more unified markets for businesses to take advantage of.

Trade blocs can take several forms, with varying levels of integration. Trade blocs such as NAFTA and ASEAN have common trade policies between members, but no common policies toward non-members, while the European Union negotiates trade agreements as a group. Trade blocs provide many advantages for member countries, such as the elimination of tariffs, greater market access, and protection from foreign competition.

Trade blocs have led to increased trade and cooperation among member countries, as well as further expansion of free trade through many agreements across the world. To learn more about specific trade blocs, visit the trade bloc pages on globalEDGE.

Featured Resources

The Law of International Trade: A Business Overview
Produced by Warner Norcross & Judd LPP, this globalEDGE exclusive provides a thorough yet concise synopsis of major issues related to international trade law. Subjects covered include: Exporting, Importing, Contracts for the Sale or Purchase of Goods, Joint Ventures and Direct Investment, and a special section entitled "Traps for the Unwary." This is a must read for all business persons!
Category: Trade Law

Global Preferential Trade Agreements Database (GPTAD)
The Global Preferential Trade Agreements Database (GPTAD) provides information on trade agreements from around the world. Developed jointly by the World Bank and the Center for International Business at the Tuck School of Business at Dartmouth College, the database contains text-searchable versions of all bilateral, free trade, and custom union agreements since June, 1, 2003.
Category: Regional Trade Agreements

Featured Academy

Regionalization and Trading Blocs
The Regionalization and Trading Blocs module provides information on: what globalization means, its impact on business, and the forces that are driving it; the advantages and disadvantages of globalization, as well as who is in favor of globalization and who opposes the movement; what the World Trade Organization (WTO) and the General Agreement on Tariffs and Trade (GATT) are, how they work, and what their history is; the history and purpose of some of the world's largest and most influential Regional Agreements: NAFTA, MERCOSUR, ASEAN, and the EU; and the basic premises of the Free Trade Area of the Americas (FTAA) that is currently under negotiation in North, South, and Latin America. A case study on Quebec’s language laws is also provided.
Category: Globalization

Tariffs, Quotas, and Non-Tariff Barriers
The Tariffs, Quotas, and Non-Tariff Barriers module outlines the following components of international trade law: the basics behind tariffs and quotas, including under what circumstances the WTO/GATT prohibits tariffs and quotas; the various types of non-tariff barriers that countries use to restrict imports; how the GATT has impacted the creation of non-tariff barriers; different types of subsidies; countervailing duties; the purpose and importance of the Harmonized Tariff Schedule; the basics of U.S. customs law; and the methods used by customs to determine an imported good's value when assessing tariffs. Also included is a case study on the recent disagreement between the U.S. and the EU over bananas.
Category: Trade Law

globalEDGE Business Beat

globalEDGE Business Beat Segment 5 Jagdish Sheth

Originally aired on November 19th, 2014

Tomas speaks with Jagdish Sheth, Charles H. Kellstadt Professor of Marketing at the Emory Goizueta Business School, they discuss the current rise of both China and India markets and the impact they will have on manufacturing and the consumer economy.