ADM 3318 Chapter Notes - Chapter 8: Cabotage, Maastricht Treaty, Dominican Republic–Central America Free Trade Agreement

• School: University of Ottawa
• Department: Administration
• Course: ADM 3318
• Professor: Ado Abdoulkadre

Document Summary

Regional economic integraion: agreements among geographic region to reduce and ulimately remove tarif and nontarif barriers to the free low of goods, services, and factors of producion between each other. Agreements designed to promote free trade within regions are believed to produce gains from trade for all member countries. Big four (bric): brazil, russia, india, china. Economically important: four largest economies outside of the oecd. Sustained themselves through the current economic crisis: russia not included. All four countries account for 40% of the world"s total foreign exchange reserves. Large domesic markets and trade among bric countries is rapidly increasing. Nafta: promises to remove all barriers to the fee low of g/s between the three countries bode well for industry and pundits of nafta. Free trade area: a group of countries commited to removing all barriers to the free low of g/s between each other, but pursuing an independent external trade policy.