International Trade: Trade Blocs Flashcards Preview

Case Studies: Globalisation and Global Governance > International Trade: Trade Blocs > Flashcards

Flashcards in International Trade: Trade Blocs Deck (8)
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1
Q

what does EU stand for?

A

european union

2
Q

what is the EU’s aim?

A

promote peace, its values and the well-being of its citizens. offer freedom, security and justice without internal borders.

3
Q

what economic sector does the UK have to share with other countries in the EU?

A

it’s traditional fishing grounds

4
Q

what does NAFTA stand for?

A

North American FREE Trade Agreement

5
Q

what countries are included in NAFTA?

A

Canada
Mexico
USA

6
Q

what are the main aims of NAFTA?

A

to reduce trading costs, increase business investment, and help North America be more competitive in the global marketplace

7
Q

by how much has trade between NAFTA’s partners increased between 1993 and 2007?

A

it has tripled

8
Q

what is a common market?

A

a group of countries imposing few or no duties on trade with one another and a common tariff on trade with other countries