Stages of economic integration around the World (each country colored according to the most integrated multilateral agreement that it participates in):
Historic trading blocs include the Hanseatic League, a Northern European economic alliance between the 12th and 17th centuries, and the German Customs Union, formed on the basis of the German Confederation and subsequently the German Empire from 1871. Surges of trade bloc formation occurred in the 1960s and 1970s, as well as in the 1990s after the collapse of Communism. By 1997, more than 50% of all world commerce was conducted within regional trade blocs.[2]Economist Jeffrey J. Schott of the Peterson Institute for International Economics notes that members of successful trade blocs usually share four common traits: similar levels of per capita GNP, geographic proximity, similar or compatible trading regimes, and political commitment to regional organization.[3]
Some advocates of global free trade are opposed to trading blocs. Trade blocs are seen by them to encourage regional free trade at the expense of global free trade.[4] Those who advocate for it claim that global free trade is in the interest of every country, as it would create more opportunities to turn local resources into goods and services that are both currently in demand and will be in demand in the future by consumers.[5] However, scholars and economists continue to debate whether regional trade blocs fragment the global economy or encourage the extension of the existing global multilateral trading system.[6][7]
Terminologyedit
A common market is seen as a stage of economic integration towards an economic union[8] or possibly towards the goal of a unified market.
This article needs to be updated. The reason given is: newer GDP numbers needed. Please help update this article to reflect recent events or newly available information.(January 2023)
Selection of GDP PPP data (top 10 countries and blocs) in no particular order
^"Russia, Kazakhstan, Belarus form Eurasian Economic Union". Washington Post. May 29, 2014. Retrieved June 1, 2014.
^. www.itar-tass.com. Archived from the original on September 30, 2007.[dead link]
^"GCC customs union fully operational". The Peninsula. 2016-08-13. Archived from the original on 18 January 2015. Retrieved 11 January 2015.
^Yemen Proposes Replacing Arab League With Arab Union, Agence France-Presse, 11 February 2004
^. Malaysia Dual Lingual Business News. February 3, 2007. Archived from the original on 2007-09-28.
^"Envisioning a single Asian currency". International Herald Tribune. February 3, 2007.
^. AHN – All Headline News. February 3, 2007. Archived from the original on 2007-09-26.
^ (Press release). ASEAN Secretariat. 2007-01-13. Archived from the original on 2012-03-16. Retrieved 2007-01-28. On the first day of the 12th ASEAN Summit, five Agreements have been signed by ASEAN leaders – reinforcing their commitment in the continuing integration of ASEAN and enhancing political, economic and social cooperation in the region.
^. ABS-CBN. February 3, 2007. Archived from the original on June 27, 2006.
Bibliographyedit
Mansfield, Edward D. and Helen V. Milner, "The New Wave of Regionalism" in Diehl, Paul F. (2005). The Politics of Global Governance: International Organizations in an Interdependent World. Boulder: Lynne Rienner Publishers. ISBN978-1-55587-654-8.
Milner, Helen V., "International Trade" in Carlsnaes, Walter; Thomas Risse; Beth A. Simmons (2002). Handbook of International Relations. London: SAGE Publications. ISBN978-0-7619-6304-2.
O'Loughlin, John; Luc Anselin (1996). "Geo-Economic Competition and Trade Bloc Formation: United States, German, and Japanese Exports, 1968–1992". Economic Geography. 72 (2): 131–160. doi:10.2307/144263. JSTOR 144263.
Schott, Jeffrey J. (1991). "Trading blocs and the world trading system". World Economy. 14 (1): 1–17. doi:10.1111/j.1467-9701.1991.tb00748.x.
February 16, 2024
trade, bloc, trade, bloc, type, intergovernmental, agreement, often, part, regional, intergovernmental, organization, where, barriers, trade, tariffs, others, reduced, eliminated, among, participating, states, stand, alone, agreements, between, several, states. A trade bloc is a type of intergovernmental agreement often part of a regional intergovernmental organization where barriers to trade tariffs and others are reduced or eliminated among the participating states Trade blocs can be stand alone agreements between several states such as the USMCA or part of a regional organization such as the European Union Depending on the level of economic integration trade blocs can be classified as preferential trading areas free trade areas customs unions common markets or economic and monetary unions 1 Contents 1 Use 2 Terminology 3 Statistics 4 Comparison between regional trade blocs 5 See also 5 1 Lists of trade blocs 6 References 7 BibliographyUse edit nbsp Stages of economic integration around the World each country colored according to the most integrated multilateral agreement that it participates in Economic and monetary union ECCU XCD Eurozone EUR Switzerland Liechtenstein CHF Economic union CSME EAEU EU GCC Mercosur SICA Common market EEA Switzerland Customs and monetary union CEMAC XAF UEMOA XOF Customs union CAN EAC EUCU SACU Multilateral free trade area AANZFTA ASEAN CEFTA CISFTA COMESA CPTPP EFTA GAFTA PAFTA RCEP SADCFTA SAFTA USMCA vteHistoric trading blocs include the Hanseatic League a Northern European economic alliance between the 12th and 17th centuries and the German Customs Union formed on the basis of the German Confederation and subsequently the German Empire from 1871 Surges of trade bloc formation occurred in the 1960s and 1970s as well as in the 1990s after the collapse of Communism By 1997 more than 50 of all world commerce was conducted within regional trade blocs 2 Economist Jeffrey J Schott of the Peterson Institute for International Economics notes that members of successful trade blocs usually share four common traits similar levels of per capita GNP geographic proximity similar or compatible trading regimes and political commitment to regional organization 3 Some advocates of global free trade are opposed to trading blocs Trade blocs are seen by them to encourage regional free trade at the expense of global free trade 4 Those who advocate for it claim that global free trade is in the interest of every country as it would create more opportunities to turn local resources into goods and services that are both currently in demand and will be in demand in the future by consumers 5 However scholars and economists continue to debate whether regional trade blocs fragment the global economy or encourage the extension of the existing global multilateral trading system 6 7 Terminology editA common market is seen as a stage of economic integration towards an economic union 8 or possibly towards the goal of a unified market A single market is a type of trade bloc in which most trade barriers have been removed for goods with some common policies on product regulation and freedom of movement of the factors of production capital and labour and of enterprise and services Statistics editThis article needs to be updated The reason given is newer GDP numbers needed Please help update this article to reflect recent events or newly available information January 2023 nbsp Selection of GDP PPP data top 10 countries and blocs in no particular orderTrade bloc Population Gross domestic product USD Members2006 2007 growth per capitaEconomic and monetary unionsEMU 324 879 195 10 685 946 928 310 12 225 304 229 686 14 41 37 630 17 nbsp Austria nbsp Belgium nbsp Cyprus nbsp Estonia nbsp Finland nbsp France nbsp Germany nbsp Greece nbsp Ireland nbsp Italy nbsp Luxembourg nbsp Malta nbsp Netherlands nbsp Portugal nbsp Slovakia nbsp Slovenia nbsp SpainOECS sovereign states 593 905 3 752 679 562 3 998 281 731 6 54 6 732 6 nbsp Antigua and Barbuda nbsp Dominica nbsp Grenada nbsp Saint Kitts and Nevis nbsp Saint Lucia nbsp Saint Vincent and the GrenadinesOII 504 476 12 264 278 329 14 165 953 200 15 51 28 081 3 nbsp French Polynesia nbsp New Caledonia nbsp Wallis and FutunaCCCM 6 418 417 39 616 485 623 43 967 600 765 10 98 6 850 12 6 OECS members nbsp Barbados nbsp Belize nbsp Guyana nbsp Jamaica nbsp Suriname nbsp Trinidad and TobagoCustoms and monetary unionsCEMAC 39 278 645 51 265 460 685 58 519 380 755 14 15 1 490 6 nbsp Cameroon nbsp Central African Republic nbsp Chad nbsp Republic of the Congo nbsp Equatorial Guinea nbsp GabonUEMOA 90 299 945 50 395 629 494 58 453 871 283 15 99 647 8 nbsp Benin nbsp Burkina Faso nbsp Ivory Coast nbsp Guinea Bissau nbsp Mali nbsp Niger nbsp Senegal nbsp TogoCustoms unionsCAN 96 924 486 281 269 141 372 334 172 968 648 18 81 3 448 4 nbsp Bolivia nbsp Colombia nbsp Ecuador nbsp PeruEAC 127 107 838 49 882 030 443 61 345 180 041 22 98 483 5 nbsp Burundi nbsp Kenya nbsp Rwanda nbsp Tanzania nbsp UgandaEUCU 574 602 745 15 331 827 900 202 17 679 376 474 719 15 31 30 768 33 30 EEA members nbsp Andorra nbsp San Marino nbsp TurkeyGCC 36 154 528 724 460 151 595 802 641 302 477 10 79 22 200 6 nbsp Bahrain nbsp Kuwait nbsp Oman nbsp Qatar nbsp Saudi Arabia nbsp United Arab EmiratesMERCOSUR 271 304 946 1 517 510 000 000 1 886 817 000 000 12 44 9 757 5 nbsp Argentina nbsp Brazil nbsp Paraguay nbsp Uruguay nbsp VenezuelaSACU 58 000 000 1 499 811 549 187 1 848 337 158 281 23 24 6 885 5 nbsp Botswana nbsp Lesotho nbsp Namibia nbsp South Africa nbsp EswatiniPreferential trade areas and Free trade areasAANZFTA ASEAN 3 2 085 858 841 10 216 029 899 764 11 323 947 181 804 10 84 5 429 15 10 ASEAN members nbsp Australia nbsp China nbsp Hong Kong nbsp Macau nbsp Japan nbsp New Zealand nbsp South KoreaALADI 499 807 662 2 823 198 095 131 3 292 088 771 480 16 61 6 587 12 4 CAN members5 MERCOSUL members nbsp Chile nbsp Cuba nbsp MexicoAFTZ 553 915 405 643 541 709 413 739 927 625 273 14 98 1 336 26 5 EAC members5 SACU members nbsp Angola nbsp Comoros nbsp Democratic Republic of the Congo nbsp Djibouti nbsp Egypt nbsp Eritrea nbsp Ethiopia nbsp Libya nbsp Madagascar nbsp Malawi nbsp Mauritius nbsp Mozambique nbsp Seychelles nbsp Sudan nbsp Zambia nbsp ZimbabweAPTA 2 714 464 027 4 868 614 302 744 5 828 692 637 764 19 72 2 147 6 nbsp Bangladesh nbsp China nbsp Hong Kong nbsp Macau nbsp India nbsp Laos nbsp Sri Lanka nbsp South KoreaCARIFORUM EUCU OCTs 592 083 950 15 437 771 092 522 17 798 283 524 961 15 29 30 060 67 12 CCCM members33 EUCU members3 OII members nbsp Anguilla nbsp Aruba nbsp Bahamas nbsp British Antarctic Territory nbsp British Indian Ocean Territory nbsp British Virgin Islands nbsp Cayman Islands nbsp Dominican Republic nbsp Falkland Islands nbsp French Southern and Antarctic Lands nbsp Greenland nbsp Mayotte nbsp Montserrat nbsp Netherlands Antilles nbsp Pitcairn Islands nbsp Saint Helena Ascension and Tristan da Cunha nbsp South Georgia and the South Sandwich Islands nbsp Saint Pierre and Miquelon nbsp Turks and Caicos IslandsCACM 37 388 063 87 209 524 889 97 718 800 794 12 05 2 614 5 nbsp Costa Rica nbsp El Salvador nbsp Guatemala nbsp Honduras nbsp NicaraguaCEFTA 27 968 711 110 263 802 023 135 404 501 031 22 80 4 841 8 nbsp Albania nbsp Bosnia and Herzegovina nbsp Croatia nbsp Kosovo nbsp North Macedonia nbsp Moldova nbsp Montenegro nbsp SerbiaCISFTA 272 897 834 1 271 909 586 018 1 661 429 920 721 30 62 6 088 11 6 EAEC members nbsp Armenia nbsp Azerbaijan nbsp Georgia nbsp Ukraine nbsp MoldovaDR CAFTA US 356 964 477 13 345 469 865 037 14 008 686 684 089 4 97 39 244 7 5 CACM members nbsp Dominican Republic nbsp United States nbsp Puerto Rico ECOWAS 283 096 250 215 999 071 943 255 784 634 128 18 42 904 15 8 UEMOA members nbsp Cape Verde nbsp Gambia nbsp Ghana nbsp Guinea nbsp Liberia nbsp Nigeria nbsp Sierra LeoneEEA EU EFTA 499 620 521 14 924 076 504 592 17 186 876 431 709 15 16 34 400 30 27 EU members nbsp Iceland nbsp Liechtenstein nbsp NorwayEFTA SACU 68 199 991 1 021 509 931 918 1 139 385 636 888 11 54 16 707 9 4 EFTA members5 SACU membersEAEC 207 033 990 1 125 634 333 117 1 465 256 182 498 30 17 7 077 6 nbsp Belarus nbsp Kazakhstan nbsp Kyrgyzstan nbsp Russia nbsp Tajikistan nbsp UzbekistanUSMCA 449 227 672 15 337 094 304 218 16 189 097 801 318 5 56 36 038 3 nbsp Canada nbsp Mexico nbsp United States nbsp Puerto Rico TPP 25 639 622 401 810 366 865 468 101 167 294 16 50 18 257 4 nbsp Brunei nbsp Chile nbsp New Zealand nbsp SingaporeSAARC 1 567 187 373 1 162 684 650 544 1 428 392 756 312 22 85 911 8 nbsp Afghanistan nbsp Bangladesh nbsp Bhutan nbsp India nbsp Maldives nbsp Nepal nbsp Pakistan nbsp Sri LankaSPARTECA 35 079 659 918 557 785 031 1 102 745 750 172 20 05 31 435 21 3 OII members12 PICTA members nbsp Australia nbsp Marshall Islands nbsp New Zealand nbsp Palau nbsp Timor Leste nbsp TokelauPacific Alliance 218 649 115 1 371 197 216 140 1 525 825 175 045 11 28 6 978 4 nbsp Colombia nbsp Chile nbsp Peru nbsp MexicoThis list is based on the data obtained from nbsp United Nations Statistics Division Comparison between regional trade blocs editActivitiesRegional bloc Free Trade Area Economic and monetary union Free Travel Political pact Defence pact OtherCustoms union Single market Currency union Visa free Border lessEU in force in force7 in force2 in force 1 in force in force Schengen 1 7 NPU and CTA 1 in force in force CFSP ESDP 1 ESA 1 7EFTA in force in force2 7 in force in force 1 7 in force 1 7 ESA 1 7CARICOM in force in force in force 1 in force 1 and proposed common in force 1 proposed proposed NWFZAU ECOWAS in force 1 3 in force 1 proposed 9 10 in force 1 andproposed for 2012 1 andproposed common in force 1 proposed proposed in force NWFZ1ECCAS in force1 African Continental Free Trade Agreement AfCFTA 1 in force1 proposed in force1 in force in force NWFZ1EAC in force in force proposed for 2020s proposed for 2024 proposed proposed for 2023 NWFZ1SADC in force1 in force1 proposed for 2015 de facto in force 1 and proposed common for 2016 proposed 11 NWFZ1COMESA in force1 proposed for 2010 proposed for 2018 NWFZ1Common in force1 proposed for 2019 proposed for 2023 proposed for 2028 proposed for 2028 NWFZ1Pacific Alliance in force in force NWFZUSAN MERCOSUR in force in force proposed for 2015 12 in force proposed for 2014 13 NWFZCAN in force in force 1 proposed1 14 in force NWFZCommon proposed for 2014 4 proposed for not after 2019 proposed for 2019 proposed for 2019 in force 15 proposed for 2019 proposed in force NWFZEEU in force in force1 in force Proposed 16 in force 17 in force 1AL GCC in force in force 18 proposed proposed 1 in force in forceCommon in force1 proposed for 2015 proposed for 2020 proposed proposed 19 ASEAN in force 5 proposed for 2015 20 proposed 8 21 in force 22 proposed for 2015 23 proposed for 2020 24 NWFZCAIS in force1 proposed in force1 in force1 proposed NWFZCEFTA in force RCC7USMCA in force in force 1 7SAARC in force 1 6 proposed proposed in force9PIF proposed for 20211 NWFZ11 not all members participating2 involving goods services telecommunications transport full liberalisation of railways from 2012 energy full liberalisation from 2007 3 telecommunications transport and energy proposed4 sensitive goods to be covered from 2019 5 least developed members to join from 2012 6 least developed members to join from 2017 7 Additionally some non member states also participate the European Union EFTA have overlapping membership and various common initiatives regarding the European integration 8 Additionally some non member states also participate ASEAN Plus Three 9 Limited to entitled persons and duration of one year See also edit nbsp Economics portalRegional integration Continental unionLists of trade blocs edit List of preferential trade areas Lists of free trade agreements List of bilateral free trade agreements List of multilateral free trade agreements List of customs unions List of common markets List of economic unions List of monetary unions List of customs and monetary unions List of economic and monetary unions nbsp Monetary unions nbsp Customs unions worldwide nbsp Free trade areas worldwide nbsp MercosurReferences edit Mansfield and Milner 2005 333 Milner 2002 450 Schott 1991 2 O Loughlin and Anselin 1996 136 Lal Deepak 1993 Trade Blocs and Multilateral Free Trade PDF Journal of Common Market Studies 31 3 349 358 doi 10 1111 j 1468 5965 1993 tb00468 x Milner 2002 458 Mansfield and Milner 2005 330 Stages of Economic Integration From Autarky to Economic Union WT COMTD N 11 wto org Archived from the original on 2009 03 25 WT COMTD N 21 wto org Archived from the original on 2009 03 27 Prensa Latina Prensa Latina February 3 2007 Archived from the original on September 27 2007 WT REG238 M 1 wto org Archived from the original on 2009 03 04 Definidos criterios para o Parlamento do Mercosul Senado Federal Noticias February 3 2007 Twelfth Andean Presidential Council Act of Lima Archived 2010 07 07 at the Wayback Machine CNN February 3 2007 dead link Russia Kazakhstan Belarus form Eurasian Economic Union Washington Post May 29 2014 Retrieved June 1 2014 Archived www itar tass com Archived from the original on September 30 2007 dead link GCC customs union fully operational The Peninsula 2016 08 13 Archived from the original on 18 January 2015 Retrieved 11 January 2015 Yemen Proposes Replacing Arab League With Arab Union Agence France Presse 11 February 2004 Asean Trade Mins Meet To Speed Up Plans For Single Market Malaysia Dual Lingual Business News February 3 2007 Archived from the original on 2007 09 28 Envisioning a single Asian currency International Herald Tribune February 3 2007 ASEAN To Sign Accord On Visa Free Travel AHN All Headline News February 3 2007 Archived from the original on 2007 09 26 ASEAN Leaders Sign Five Agreements at the 12th ASEAN Summit Cebu the Philippines 13 January 2007 Press release ASEAN Secretariat 2007 01 13 Archived from the original on 2012 03 16 Retrieved 2007 01 28 On the first day of the 12th ASEAN Summit five Agreements have been signed by ASEAN leaders reinforcing their commitment in the continuing integration of ASEAN and enhancing political economic and social cooperation in the region ASEAN defense ministers aim for security community ABS CBN February 3 2007 Archived from the original on June 27 2006 Bibliography editMansfield Edward D and Helen V Milner The New Wave of Regionalism in Diehl Paul F 2005 The Politics of Global Governance International Organizations in an Interdependent World Boulder Lynne Rienner Publishers ISBN 978 1 55587 654 8 Milner Helen V International Trade in Carlsnaes Walter Thomas Risse Beth A Simmons 2002 Handbook of International Relations London SAGE Publications ISBN 978 0 7619 6304 2 O Loughlin John Luc Anselin 1996 Geo Economic Competition and Trade Bloc Formation United States German and Japanese Exports 1968 1992 Economic Geography 72 2 131 160 doi 10 2307 144263 JSTOR 144263 Schott Jeffrey J 1991 Trading blocs and the world trading system World Economy 14 1 1 17 doi 10 1111 j 1467 9701 1991 tb00748 x Retrieved from https en wikipedia org w index php title Trade bloc amp oldid 1197712831, wikipedia, wiki, book, books, library,
