The Relationship Between North American Free Trade Agreement And The European Union 's Level Of Integration

The European Union (EU) is a political economic union of 28 members. The founders are France, Belgium, Luxemburg, Italy, Netherlands, and Germany. The Maastricht treaty established the European Union in 1993. The EU aims to ensure the free movement of people, goods, services and capital and regional development. These 28 member states have successfully integrated because of their similar cultural lifestyles.

Integration and agreements made will reduce tariffs barriers that are associated with trades of goods, services and the factors of produced goods between countries (Hill, 2004). As this paper will demonstrate a proper analysis of how integration will promote global advantages in business, and will deliberate the disadvantages and advantages of integration. Therefore touching basis of contrast and comparing the development of economic stages within a region and the effect on the process of development of business globally.

Since 1950 European Union (EU) was created it has promoted peace, prosperity and values among the member nations and its neighbouring countries. EU’s influential tools, has helped transform many European states into functioning democracies and prosperous countries. EU’s membership has grown from 6 to 28 countries (Enlargement, 2014), satisfying a historic vow to integrate the continent bringing in most states of Central and Eastern Europe (CEE) by peaceful ideals.EU has anticipated the enlargement as an extraordinary opportunity to endorse political strength and economic success in Europe. EU’s extension policy is open to any European state that fulfils the EU’s political and financial criteria for membership; still the political process of inclusion of new state requires a unanimous agreement from all the existing 28 member states. Europe is considered to be more flourishing and safer place due to the promotion of democracy, anti-corruption policy and the single market policy.

The European Union is now taking over Europe! The European Union is the way to keep most countries on each other's side. The European Union started after Europe was destroyed after two world wars. Six countries decided to work together and create a union. Now, the European Union consists of 28 countries, (64% of Europe) and has many candidates who are financially stable. The European Union has divided Europe in culture and politics.

 Some argue that the current degree of integration is an economic union with an  evolving common political structure (but this is not entirely true given that all countries  do not share a common fiscal policy).   EU Objectives    Provide for free internal flow of production factors:   o Labour   o Capital   o Products    Provide protection for European industry and workers (free trade within and  protection outside countries)  o Tariffs and quotas applied to most basic commodities and services    Steel, Coal, Textiles, Agricultural Products    Banking,

The European Union (EU) is the organization which integrates the countries listed below, both politically and economically. It is a customs union, which is an agreement amongst a group of countries to eliminate trade barriers between them on the movement of goods, services, labor and capital, and also to establish a common external tariff on goods and services coming into the union. The EU evolved from the European Coal and Steel Community (ECSC), which was formed in 1951 as a response to the First and Second World Wars to try to ensure future peace in Europe. This became the European Economic Community (EEC) in 1965, which in turn became the European

For the integration, the intersection of the economic need, life style of the people, and size of the economy must be same. Due to inappropriate way and lack of proper political integration by countries and surge in the national feeling over the common economic goal of the region has adversely impacted the area. European unions is comprised of many countries which include different countries which are in different stage of their economic development

The European Union is one of the most famous Economic blocs in our recent times. It is the culmination of efforts after the devastating Second World War. It currently includes 28 states with varied cultural and historical backgrounds and even different languages. It now has more than 30 separate international trade agreements with many countries such as Colombia and South Korea (Encyclopedia of Management).

Throughout history, countries have made agreements and alliances in order to improve their economy, their government, and their international trading. Countries must decide whether an agreement will be beneficial for the country in the long run or if it will have more of a negative effect on their economic and trade relations than a positive one. Two of the most significant international agreements that have been made in history are the European Union and the North American Free Trade Agreement. These agreements are two examples of how international agreements positively affect countries and their economic status. The EU is a political and economic union of 28 European members of state, which the United Kingdom is currently departing from.

For decades, there has been many trade barriers to import and export goods from one country to another. The North American Free Trade Agreement (NAFTA) was established to diminish tariff barriers and to remove investment restrictions. NAFTA has broadened the agreement of countries being able to import and export goods and to provide better servicing. Over the period of time, the use of tariffs and any trade barriers have been reduced as the economy has become more integrated. This integration has generated less power for the government to control trade due to the benefit of economic growth. The goal of economic integration is to increase the volume of trade between countries and reduce the

With the development of the world economy, all countries are natural to trade and communicate with other people, especially their neighbors. Regional economic integration plays a very important role in the post-war period. This essay is aimed to compare the progress of the strategic competition between the European Union (EU) and the North American Free Trade Agreement (NAFTA) and their impacts on the United States. According to members of the integration, implementing of competition policy is equally important as liberalize trade. Both unions are federations, but they differ on the status and impact.

The European Union (EU) was created when the Maastricht Treaty, or now known as the Treaty on European Union, was signed in the early 1990’s. The document marked an essential milestone in the success and development of many European countries. It paved the way for many other future treaties and it also created the EMU or the European Monetary Union (“Europe Without Frontiers”). Though there were other economic European federations prior to the EU, the EU has by far been the more prosperous one. The EU was created to help unify Europe after WWII ended. With the signing of the Maastricht Treaty, a central banking system was created, which would eventually set up the creation of the Euro (the currency currently used in most of Europe). There are both ups and downs to the European Union as the world has seen with the latest news on Britain leaving the federation. With England out of the European Union, the world will suffer enormous global economic ramifications.

Since the mid-20th century, countries have progressively reduced barriers, subsidies to domestic industries and diverse restrictions on international commerce in order to promote specialization and greater efficiency in production. In theory, free trade allows nations to focus on their main comparative advantages and profit from cooperation and voluntary trade. This strategy is usually reinforced by treaties between two or more countries where commerce of goods and services can be handled across their common borders, without tariffs and other trade obstacles. As a key component of regional integration in the Americas, CAFTA-DR is one important example of this economic ideology.

The current international system is characterized by growth in globalization hence regional integration is becoming a common phenomenon in most parts of the world. As a result of states becoming more interconnected, most of them have opted for regional integration so as to enhance trade between states thus boosting economies of the states as well as the regions as a whole. Besides free trade, regional integration has seen to it the elimination of trade barriers, free movement of goods and people across borders, regional co-operation in issues to do with peace and security within the regions among various other benefits of regional integration. One of the regions that has grown as a result of regional integration is the European Union (EU), which is an economic and political partnership composed of 28 European countries. This paper will focus on the EU and give a theoretical analysis of the Brexit while giving lessons of integration and liberalization based on the Brexit.

People have created unions many times but not all of them were successful, specifically when we consider alliances among number of countries with different economics, political systems and culture. For instance, last century brought both the biggest collapse and the most promising union in the modern history. Although U.S.S.R has disappeared from geographical maps, some of its members joined another alliance. The European Union (EU) is an economic and political partnership that united 28 countries on the European part of Eurasia and represents a unique form of cooperation among members today.