Monday, June 27, 2016

World Regional Free Trade

Ten World Regional Free Trade Agreement had been building till now for trade transaction purpose.

The Union of South American Nations (USAN; Spanish: Unión de Naciones Suramericanas, UNASUR; Portuguese: União de Nações Sul-Americanas, UNASUL; Dutch: Unie van Zuid-Amerikaanse Naties, UZAN) is an intergovernmental regional organization comprising 12 South American countries. The UNASUR Constitutive Treaty was signed on 23 May 2008, at the Third Summit of Heads of State, held in Brasília, Brazil.[7] According to the Constitutive Treaty, the Union's headquarters will be located in Quito, Ecuador.[2] On 1 December 2010, Uruguay became the ninth state to ratify the UNASUR treaty, thus giving the union full legality.[8][9] As the Constitutive Treaty entered into force on 11 March 2011, UNASUR became a legal entity during a meeting of Foreign Ministers in Mitad del Mundo, Ecuador, where they had laid the foundation stone for the Secretariat Headquarters.[10] The South American Parliament will be located in Cochabamba, Bolivia, while the headquarters of its bank, the Bank of the South are located in Caracas, Venezuela.

The North American Free Trade Agreement (NAFTA; Spanish: Tratado de Libre Comercio de América del Norte, TLCAN; French: Accord de libre-échange nord-américain, ALÉNA) is an agreement signed by Canada, Mexico, and the United States, creating a trilateral trade bloc in North America.

The African Union (AU) is a continental union consisting of 54 countries in Africa. The only African state that is not a member is Morocco, due to the status of the Western Sahara. The AU was established on 26 May 2001 in Addis Ababa and launched on 9 July 2002 in South Africa,[6] with the aim of replacing the Organisation of African Unity (OAU). The most important decisions of the AU are made by the Assembly of the African Union, a semi-annual meeting of the heads of state and government of its member states. The AU's secretariat, the African Union Commission, is based in Addis Ababa.

The economy of the European Union generates a GDP (nominal) of about €14.3 trillion (US$18.5 trillion in 2014) and a GDP (PPP) of about €12.7 trillion (US$16.8 trillion in 2014) according to the International Monetary Fund,[1] which makes it the largest or second largest economy in the world respectively if treated as the economy of a single country depending on the source used. The European Union (EU) economy consists of an internal market and the EU is represented as a unified entity in the World Trade Organization (WTO).

The Economic and Social Council of the Arab League (ESC; Arabic: مجلس جامعة الدول العربية الاقتصادي والاجتماعي‎, DIN: Majlis jāmiʿat ad-dawal al-ʿarabiya al-iqtiṣādy wal-ijtimāʿy, originally the Economic Council) is an institution of the Arab League that co-ordinates its economic integration.[1] The ESC was established as the Economic Council under the terms of the Joint Defence and Economic Co-operation Treaty (1950).[1] and held its first meeting in 1953.[2] In 1957, the ESC established the Council of Arab Economic Unity (CAEU) and, in February 1997, the ESC adopted the Agreement to Facilitate and Develop Trade Among Arab Countries (1981) in pursuit of the Greater Arab Free Trade Area (GAFTA).

About SAARC The South Asian Association for Regional Cooperation was founded as a movement toward collective progress for the involved nations of South Asia. The organization promoted political cooperation between these strategic nations for the mutual progression of the countries socially, economically, and culturally.  There were seven original members of the SAARC: Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka. Afghanistan later joined the SAARC in 2007 bringing the total number of members up to eight. There are also nine observer states: Australia, China, the European Union, Japan, Iran, Mauritius, Myanmar, South Korea, and the United States of America.  The idea for the SAARC was proposed on May 2, 1980, by Ziaur Rahman, the then President of Bangladesh. The founding countries met for the first time in April 1981 and then in 1985, they created the SAARC Charter. They sought peace, stability, amity, and progress including improving quality of life for all the involved nations.

The Cooperation Council for the Arab States of the Gulf (Arabic: مجلس التعاون لدول الخليج العربية‎), originally (and still colloquially) known as the Gulf Cooperation Council (GCC, مجلس التعاون الخليجي), is a regional intergovernmental political and economic union consisting of all Arab states of the Persian Gulf, except for Iraq. Its member states are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates

The Eurasian Economic Union (EAEU or EEU or EAU)[note 1] is an economic union of states located primarily in northern Eurasia. A treaty aiming for the establishment of the EEU was signed on 29 May 2014 by the leaders of Belarus, Kazakhstan and Russia, and came into force on 1 January 2015.[7] Treaties aiming for Armenia's and Kyrgyzstan's accession to the Eurasian Economic Union were signed on 9 October 2014 and 23 December, respectively. Armenia's accession treaty came into force on 2 January 2015.[8] Kyrgyzstan's accession treaty came into effect on 6 August 2015. It participated in the EEU from the day of its establishment as an acceding state

The Pacific Islands Forum is an inter-governmental organization that aims to enhance cooperation between the independent countries of the Pacific Ocean. It was founded in 1971 as the South Pacific Forum. In 1999, the name was changed; Pacific Islands Forum is more inclusive of the Forum's Oceania-spanning membership of both north and south Pacific island countries, including Australia. It is an official observer at the United Nations.

The Association of Southeast Asian Nations (ASEAN) is an organization of countries in southeast Asia set up to promote cultural, economic and political development in the region. ASEAN was officially formed in 1967 with the signing of the Bangkok Declaration.

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