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Understanding the Importance of Free Trade Agreements in International Commerce

Discover the significance of trade agreements like NAFTA, EU, MERCOSUR, and more. Learn about the missions of the WTO, IMF, and World Bank in promoting free and fair trade, common rules, and enforcement mechanisms.

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Understanding the Importance of Free Trade Agreements in International Commerce

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  1. Free Trade Agreements

  2. Free Trade Agreements Why Bother?

  3. International Institutions - WTO  Predecessor of GATT  Mission to increase and facilitate free and fair trade  164 Members  Common Rules on Trade Related Issues  Binding Decisions  Enforcement through Ostracism and Diplomatic Pressure - IMF - World bank

  4. Trade Agreements - Free Trade Area Elimination of Tariffs and Quotas - Customs Union Common External Tariff and Quota System - Common Market Free Movement of Capital, Labor, and Goods - Economic Union Harmonization of Economic and Social Policies

  5. Trading Blocks  NAFTA  EU  MERCOSUR  CEFTA  ASEAN • CARICOM • ANDEAN COMMUNITY • SICA

  6. North American Free-Trade Area (NAFTA) Canada United States Mexico

  7. European Union

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