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    FTA: Tariffs Elimination Among Member Only

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    Vy Nguyen
    The document discusses economic integration between countries and trade blocs. It describes how the European Union, NAFTA, and Japan form a global triad that dominates world trade. Integration reduces trade barriers within blocs and allows for benefits like lower telecom charges and increased growth. Economic integration takes several forms, from free trade areas that eliminate tariffs between members, to customs unions with common external tariffs, to common markets with free movement of goods, services, capital and labor. The European Union represents the highest level of integration as both a common market and an economic union with coordinated fiscal, monetary and commercial policies.

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    FTA: Tariffs Elimination Among Member Only

    Uploaded by

    Vy Nguyen
    12 views2 pages
    The document discusses economic integration between countries and trade blocs. It describes how the European Union, NAFTA, and Japan form a global triad that dominates world trade. Integration reduces trade barriers within blocs and allows for benefits like lower telecom charges and increased growth. Economic integration takes several forms, from free trade areas that eliminate tariffs between members, to customs unions with common external tariffs, to common markets with free movement of goods, services, capital and labor. The European Union represents the highest level of integration as both a common market and an economic union with coordinated fiscal, monetary and commercial policies.

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    Global Triad

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    The document discusses economic integration between countries and trade blocs. It describes how the European Union, NAFTA, and Japan form a global triad that dominates world trade. Integration reduces trade barriers within blocs and allows for benefits like lower telecom charges and increased growth. Economic integration takes several forms, from free trade areas that eliminate tariffs between members, to customs unions with common external tariffs, to common markets with free movement of goods, services, capital and labor. The European Union represents the highest level of integration as both a common market and an economic union with coordinated fiscal, monetary and commercial policies.

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    12 views2 pages

    FTA: Tariffs Elimination Among Member Only

    Uploaded by

    Vy Nguyen
    The document discusses economic integration between countries and trade blocs. It describes how the European Union, NAFTA, and Japan form a global triad that dominates world trade. Integration reduces trade barriers within blocs and allows for benefits like lower telecom charges and increased growth. Economic integration takes several forms, from free trade areas that eliminate tariffs between members, to customs unions with common external tariffs, to common markets with free movement of goods, services, capital and labor. The European Union represents the highest level of integration as both a common market and an economic union with coordinated fiscal, monetary and commercial policies.

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    of 2

    Global triad: EU, NAFTA, Japan + NOCs of SEA ( ASEAN= global triad dominate

    world trade.
    Trade barriers within blocs reduced.
    Telecome industry => common market in Europe
    Lower charges, high growth and profits, new jobs created.

    Impact of technology:
    Allows nations to achieve cost advantage and comparative advantage in
    commodity production.

    ECONOMIC INTEGRATION:
    free trade areas (FTAs), custom unions (CUs), common markets (CMs), Economic
    union (EU, political unions (Pus).
    FTA: tariffs elimination among member only.
    Remove trade impediments but freedom to determine policies to outside world
    (non-participants).
    However, Trade Deflection ( gian lan thue quan): non-participants tron thue nhap
    khau = cach nhap hang qua members FTA with lowest tariffs nho gian lan xuat
    xu hang hoa => enjoy lowest tariffs through FTA members.
    Customer unions:
    Similar to FTA but members must have set of common tariff barriers (common
    external tariff (CET).

    Common markets is a custom unions with free factor mobility: capital, labor,
    enterprise.
    European Union is common market + high degree integration of fiscal, monetary
    and commercial policites.
    PU; federal structure, mobility, remove tariff and quotas, cet, harmonisation of
    economic policies.

    Single European market (1/1/1993): free movement of goods, services, people


    and capital.

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