10trade - Economic integrationrefers to the commercial...

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Economic integration- refers to the commercial policy of discriminatively reducing or eliminating trade barriers only among nations joining together Preferential trade arrangements- lower barriers on trade among participating nations than with nonmember nations British commonwealth preference scheme, 1932, UK Free trade area- form of economic integration wherein all barriers are removed on trade among members, but each nation retains its own barriers to trade with nonmembers -European Free Trade Association (EFTA): 1960, UK, Austria, Denmark, Norway, Portugal, Sweden, Switzerland -NAFTA: 1993 US, CANADA, MEXICO 1993 -Southern Cmmon Market (Mercosur): 1991 Argentina, Brazil, Paraguay, Uraguay Customs union- allows no tariffs or barriers on trade among members, harmonizes trade policies European Common Market (EU): 1957, West Germany, France, Italy, Belgum, Netherlands, Luxembourg Zollverein: 1834, German states, helped unify Germany in 1870 Common market- goes beyond a customs union by also allowing free movement of labor and capital among
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