Geography, asked by shajarun712, 1 year ago

What is the Trade bloc?

Answers

Answered by writersparadise
3

A trade bloc is an agreement between two governments to reduce or eliminate barriers to trade among the states whose governments are involved. A common example of such a barrier is tariffs. Trade blocs can be part of regional organizations or stand alone agreements. Successful trade blocs have four common characteristics - geographic proximity, political commitment to regional organizations, compatible or similar trading regimes and similar per capita GNP levels. The four key types of trade blocs are:


*Free trade areas


*Customs unions


*Preferential trade areas


*Common markets
Answered by nivedhitha1415
2

Answer:

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