Activity 4 – What are Trading Blocs?

Use research and any knowledge you already have, to provide details about each
trading bloc. Comment on which countries are involved in the trading bloc and the
key features of being part of that trading bloc.

World Trade Organisation EU

Countries involved: Countries involved:

 Afghanistan 
 Albania  Germany, France, the United Kingdom, Italy
 Angola  and Spain,
 Antigua and Barbuda 
 Argentina 
 Armenia  Key features of the bloc:
 Australia  Preferential Trade Area.
 Austria  Free Trade Area.
Key features of the bloc: Customs Union.
Common Market.
Free trade within the bloc.
 administering trade agreements.
Market access and trade creation.
 acting as a forum for trade
Economies of scale.
negotiations.
Jobs.
 settling trade disputes.
 reviewing national trade policies.
 building the trade capacity of
developing economies.
 cooperating with other international
organizations.
Mercosur USMCA

Countries involved: Countries involved:

Argentina, Brazil, Paraguay, Uruguay United States, Mexico, and Canada

Key features of the bloc: Key features of the bloc:

Mercosur's goals include the harmonization of
the economic policies of its members and the
promotion of economic development.
APEC
most important feature is that it provides us a
framework for pursuing a positive economic
agenda that lifts workers and communities
across our three countries. The USMCA seeks to
promote high labour standards and enforce
workers' rights.
NAFTA

Countries involved: Countries involved:

Australia; Brunei Darussalam; Canada; Chile;
People's Republic of China; Hong Kong, China;
Indonesia; Japan; Republic of Korea; Malaysia;
Mexico
Key features of the bloc:
Mexico, Canada, and the United States
Key features of the bloc:
Tariff elimination for qualifying products.
Elimination of nontariff barriers by 2008.
Establishment of standards.

APEC operates as a cooperative, multilateral
economic and trade forum. Member economies
participate based on open dialogue and respect
for views of all participants.
Supplemental agreements.
Tariff reduction for motor vehicles and auto
parts and automobile rules of origin.
Expanded telecommunications trade.