Recent Regional Integration
The regional integration in Europe took place in the Treaty on the European Union (the Maastricht Treaty) in November 1993. There was also a formation of the European Community. There was also formation of the European Free Trade Association (EFTA). There was also the formation of North American Free Trade Agreement (NAFTA) which is a free trade arrangement of North America formed in January 1994. subsequently there was formation of the Latin America initiated the Southern Common Market Treaty (MERCOSUR) in January 1995. In The Pacific there was the ASEAN Free Trade Area (AFTA) in 1993 which looked into reducing the tariffs. The AFTA started in full swing in 2000.
Read more about this topic: Intra-regional Trade
Famous quotes containing the word integration:
“The more specific idea of evolution now reached is—a change from an indefinite, incoherent homogeneity to a definite, coherent heterogeneity, accompanying the dissipation of motion and integration of matter.”
—Herbert Spencer (1820–1903)