THE ROLE AND IMPACT OF TRADING BLOCS

BY  # AMIRUL HAIZAD, MOHD ZUHAIRI DAN MUHAMMAD SYAKIR

Our study, entitled The Role and Impact of Block Trading is specifically to study the role and effects that occur as a result of the formation of trading blocs is. There are a number of world trading blocs that became the main focus of our study, namely the WTO, NAFTA, AFTA, EU, and APEC. This study showed indirectly trading blocs in the world to run better, and vice versa.

WTO is a body that sets global trade regulations. It sets a common standard to be followed by each of its members who comprise the majority of the countries in the world. The WTO's role is to set the regulation but it is not responsible for the regulation or regulations. APEC also is a trade bloc comprising 21 countries that is not limited to national borders or neighbouring countries. The goal is to focus on expanding trade between the member states. The EU is a block trade by countries neighbouring the countries in Europe. They jointly establish a regulation that represents countries that are members.

AFTA is a block of free trade established between ASEAN member countries. Organization AFTA aims to establish a free trade area ASEAN taxes in 15 years. NAFTA is composed of three countries in the North America, the United States, Canada and Mexico. NAFTA is intended to eliminate tariffs and non-tariff barriers in trade. The conclusion of each block trade has an important role in determining the direction of the agreement whether successful or not.