Regional Economic Integration And Cooperative Agreements

04 Okt Regional Economic Integration And Cooperative Agreements

Economic integration is an agreement between nations that generally includes the removal or elimination of barriers to trade and the coordination of monetary and fiscal policies. Economic integration aims to reduce costs for both consumers and producers and to increase trade between the countries participating in the agreement. MERCOSUR has become one of the most dynamic and imaginative initiatives in the region. The increase in trade, the increase in investment and the growth in production are the economic indicators that highlight the remarkable performance of the group. In addition, integration helps to change national relations between the nations of South America and with the world as a whole, and to create a new sense of common direction and common purpose that sends waves of hope across the continent and beyond. The global focus on multilateral trade agreements and cooperation has significantly increased trade. “Over the past 50 years, global trade has grown exceptionally. Merchandise exports have grown by an average of 6% per year. Total trade in 2000 was 22 times higher than in 1950. GATT and the WTO have helped create a strong and prosperous trading system that contributes to unprecedented growth.” The Multilateral Trading System – Past, Present and Future,” World Trade Organization, accessed December 29, 2010 www.wto.org/english/thewto_e/whatis_e/inbrief_e/inbr01_e.htm.

The low standard of living of Chiapas and Indians throughout Mexico remains a major challenge for the Mexican government. In the years following the insurgency in Chiapas, poverty rose to about 40 percent in southern Mexico, while in the north, poverty declined thanks to closer economic ties with the United States. CultureQuest Doing Business in Mexico (New York: Atma Global, 2011). Early on, critics of the EU expressed concern that countries did not want to give up their sovereign right to economic and political policy. Efforts to create a European Constitution and move closer to a political union failed in 2005, when Belgium and France refused the efforts. Critics believe that a political union is simply not culturally possible. European countries have a deep and interdependent history, full of cultural and ethnic prejudices, ancient rivalries and deep-seated preferences for their own sovereignty and independence. This first major economic crisis brought this issue to the forefront.

David Gates, global head of whisky milking at Diageo, said emerging countries are leading the recovery: “The places with the fastest demand are Asia, Latin America and parts of Eastern Europe. Southern Europe is more worrying because Spain and Greece, the major Scottish markets, are still in a very difficult economic situation.” The European Union (EU) is the most integrated form of economic cooperation. As you learned in the first case study, the EU began to end the frequent wars between neighbouring countries in Europe in 1950. The six founding countries were France, West Germany, Italy and Benelux, the grouping of Belgium, Luxembourg and the Netherlands. (Belgium, Luxembourg and the Netherlands), all of which have signed a treaty to operate their coal and steel industries under one management. .

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