Explore tens of thousands of sets crafted by our community.
Economic Blocs and Unions
20
Flashcards
0/20
European Union (EU)
Member countries: 27 European countries including Germany, France, Italy, Spain, and Poland. Main objectives: Promote peace, its values and the well-being of its citizens, offer freedom, security and justice without internal borders, sustainable development based on balanced economic growth and price stability.
NAFTA (North American Free Trade Agreement)
Member countries: United States, Canada, Mexico. Main objectives: Eliminate barriers to trade and investment between the U.S., Canada and Mexico.
ASEAN (Association of Southeast Asian Nations)
Member countries: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam. Main objectives: Accelerate economic growth, social progress, and cultural development; promote regional peace and stability.
Mercosur (Southern Common Market)
Member countries: Argentina, Brazil, Paraguay, Uruguay, Venezuela (suspended). Main objectives: Promote free trade and the fluid movement of goods, people, and currency.
African Union (AU)
Member countries: 55 African countries including Nigeria, Egypt, South Africa, and Kenya. Main objectives: Achieve greater unity and solidarity between African countries and Africans, accelerate the political and socio-economic integration of the continent.
Gulf Cooperation Council (GCC)
Member countries: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates. Main objectives: Achieve unity among its members based on their common objectives and similar political and cultural identities.
CARICOM (Caribbean Community)
Member countries: Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, Saint Lucia, St. Kitts and Nevis, Saint Vincent and the Grenadines, Suriname, Trinidad and Tobago. Main objectives: Promote economic integration and cooperation among its members, ensure that the benefits of integration are equitably shared, coordinate foreign policy.
Eurasian Economic Union (EAEU)
Member countries: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia. Main objectives: Provide for the free movement of goods, services, capital, and labor, pursue coordinated, harmonized and single policy in the sectors determined by the treaty and international agreements within the union.
Andean Community (CAN)
Member countries: Bolivia, Colombia, Ecuador, Peru. Main objectives: Promote the balanced and harmonious development of the member countries under equitable conditions, enhance participation in the regional integration process with a view towards the gradual formation of a Latin American common market.
Pacific Alliance
Member countries: Chile, Colombia, Mexico, Peru. Main objectives: Build an area of deep integration to move gradually toward the free mobility of goods, services, resources, and people, drive further growth, development, and competitiveness of the economies of its members.
Common Market for Eastern and Southern Africa (COMESA)
Member countries: 21 countries, including Egypt, Kenya, Libya, and Zambia. Main objectives: Form a large economic and trading unit capable of overcoming barriers that are faced by individual states, promote peace and security in the region.
Economic Community of West African States (ECOWAS)
Member countries: 15 countries, including Nigeria, Ghana, and Senegal. Main objectives: Promote economic cooperation and integration, create a borderless region where the population has access to its abundant resources and is able to exploit same through the creation of opportunities.
Central American Integration System (SICA)
Member countries: Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Dominican Republic. Main objectives: Achieve the integration of Central America to create a region of peace, freedom, democracy and development.
Council of the Baltic Sea States (CBSS)
Member countries: 11 countries including Denmark, Estonia, Finland, Germany, Latvia, Lithuania, Norway, Poland, Russia, Sweden, and the European Union. Main objectives: Promote a sustainable and prosperous Baltic Sea region through dialogue and cooperation in regional issues of common interest.
East African Community (EAC)
Member countries: Burundi, Kenya, Rwanda, South Sudan, Tanzania, and Uganda. Main objectives: Deepen cooperation in, inter alia, political, economic, and social fields for the mutual benefit of the partner states.
SAARC (South Asian Association for Regional Cooperation)
Member countries: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, Sri Lanka. Main objectives: Promote the welfare of the people, improve their quality of life, accelerate economic growth, social progress and cultural development.
Union of South American Nations (UNASUR)
Member countries: All 12 countries in South America. Main objectives: Build a culturally united South American space, give political dialogue a South American dimension, develop social policies to eliminate inequality.
Organization of the Petroleum Exporting Countries (OPEC)
Member countries: 13 countries including Algeria, Angola, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela. Main objectives: Coordinate and unify petroleum policies among member countries, ensure stabilization of oil markets, secure an efficient economic and regular supply of petroleum to consuming nations.
Organization of Eastern Caribbean States (OECS)
Member countries: Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, British Virgin Islands, Anguilla, Martinique. Main objectives: Promote harmonization among member states concerning foreign policy, defense and security, and economic affairs.
Caribbean Single Market and Economy (CSME)
Member countries: CARICOM members participating in the CSME include Barbados, Belize, Dominica, Guyana, Jamaica, St. Lucia, Suriname, and Trinidad and Tobago. Main objectives: Facilitate the free movement of goods, services, capital, and labor within the Caribbean Community (CARICOM), create a single economic space.
© Hypatia.Tech. 2024 All rights reserved.