Global and Regional Economic Cooperation and Integration

• Trade barriers causes a limited choice of products and, therefore, would force customers to pay higher prices and accept inferior quality
• Trade barriers generally favor rich countries because these countries tend to set international trade policies and standards.
• Government impose barriers to protect local industry or to "punish" a trading partner.
• Comparative Advantage is about the nations can benefit from each other with a lower prices or lowest opportunity cost.
• Absolute Advantage company being able to do better than other company.
• Tariffs is a man made barriers, rule or policy are made by individual.
• Non-Tariffs is also man made barriers, we do the regulations.
• Natural it cannot control, and is already exist.
• A tariffs is a tax imposed by a nation on imported goods.
• Protective tariffs make imported products less attractive to buyers than domestic products.
• Import Export Licenses, identifies what products are shipped or delivered between international locations
• Import Quota, limits on the quantity of a certain good that can be imported to protect certain indutries
• Export subsidy, can be used to give an advantage to a domestic producer over a foreign producer
• Voluntary Export Restraints (VERs), a restriction et by a government on the quantity of goods that can be exported our of a country during a specified period of time.
• Local content requirements (LCRs), policy measures that typically require a certain percentage of intermediate goods used in the production processes to be sourced from domestic manufacturers.
• Embargo, a total ban on imports or exports of a product
• Natural barriers can be either physical or cultural distance, language, and culture.
• Regional economic integration has enabled countries to focus on issues that are relevant to their stage of development, and encourage trade between neighbors
• Free trade area, is the most basic form of economic cooperation.
• Customs Union, this type provides for economic cooperation as in a free-trade zone.
• Common Market, this type allows for the creation of economically integrated markets between member countries. Trade barriers are removed, as are any restrictions on the movement of labor and capital between member countries.
• Economic Union, created when countries enter into an economic agreement to remove barriers to trade and adopt common economic policies.
• The General Agreement on Tariffs and Trade (GATT) is a series of rules governing trade were first created in 1947 by twenty-three countries.
• The Dominican Republic- Central America- United States Free Trade Agreement (CAFTA-DR) then called the Central America Free Trade Agreement, or (CAFTA) was signed in 2005.