There are a number of major economic trading blocs in the world that attempt to address the issue of regional integration in promoting international trade and global business. These groups include Canada, Mexico and the United States as the members of NAFTA, the member nations of the European Union which include France, Germany, Italy, Spain, Sweden, and the United Kingdom. The Mercosur member states including Argentina, Brazil, Paraguay, and Uruguay. There is a Caribbean Community and Commercial Market referred to as Caricom. The Asia-Pacific Economic Cooperation (APEC) forum includes Australia, Canada, China, Japan, South Korea, Singapore, and Taiwan.
According to an article in World Trade, in January of 2002 President Bush announced that the United States would explore a free trade agreement with the countries of Central America. The President said his Administration would work closely with Congress towards this goal. The President added that the purpose of this initiative was to strengthen the economic ties the United States already had with these nations and to reinforce their progress toward economic, political, and social reform. The Central American Free Trade Agreement (CAFTA) is a proposed agreement betweenáthe United States and Guatemala, El Salvador, Honduras, Costa Rica and Nicaragua. Negotiations concluded in December 2003 and Congress was expected to vote on CAFTA in 2004. The President suggested that CAFTA will ensure that American workers and companies are not disadvantaged, build on the $4 billion of U.S. investment in the region, and avoid erosion of U.S. competitiveness. It has been suggested that the Bush Administration hoped trade negotiations would lead to closer political and economic cooperation among the Central American countries, advancing Central America's integration and contributing to greater peace, economic cooperation, and stability in the region.
According to the article in World Trade, the...
Steven Suranovic' s International Trade Theory. (1969, December 31). In LotsofEssays.com. Retrieved 11:38, April 26, 2017, from http://www.collegetermpapers.com/viewpaper/1304165552.html