International Factors and Multinational Corporations

1724 WordsJul 13, 20187 Pages
Regional Trade Agreements and Global trade liberalization are common terms that are used to analyze different market structures in the market. According to international economics, RTAs (Regional Trading Agreements) are the agreements in which members give each another privileged treatment with respect to the extent by which the trade barriers have been established. On the other side, Global Trade liberalization is a general term referring to the depletion of trade boundaries globally to ensure free trade among all state. Ideally, Free trade agreements are sometimes more formal than the Global Trade liberalization policies. It is deemed that Regional Trade Agreements are yielded from the Global Trade liberalization. That is; it is an…show more content…
doi: 10.1787/5kmdbgfrgnbv-entrieved from http://www.oecd.org/trade/benefitlib/45489713.pdf This reference journal article discusses in details the essentiality of the presence of the Regional trade agreements (RTAs). The Regional Trade Agreements avail prospects for controlling the trade barriers that are technical (TBTs). The agreements utilize the common principles as well as provisions that are stipulated within the World Trade organizations agreement documents. In this journal, there are eight agreements that are integration-featured which are under assessment. Free trade is considered as a crucial to the development of economic autonomy. Ideally, the role of trade liberalization in the global market is not only effective in the reduction of transactional costs, but it also important in the increment of employment level, improved living standards, development and social well being of the citizens in the member states. Ideally, there are steps that are deemed essential for the success of the initiatives related to the disorientation of the trade barriers within trade regions. It is essential to point out that the process of amending the technical trade barriers requires a set of rules and measure that are aligned within the regional trade agreements. Shakur, S. (2012, January 1). Impact of Global Trade Liberalization on Regional Trade Balances | Shakur | International Journal of Economics and Finance. Retrieved March 14, 2014,
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