Regional Integration And International Business - 1804 Words

There are many definitions that could pertain to what Regional Integration means depending on the context, but generally it implies two things. First, integration can be the combination of parts into a whole or in other words it could mean the completion of an object by combining parts together and secondly region suggests an area having definable boundaries or characteristics. Having both regional integration combined in the context of international business, implies the attempt to create free trade between two of more nations, becoming a staple to harmonizing tariff rates, freedom of movement of goods and services, persons and capital. The need for regional integration dates back all the way to ancient civilizations from allowing for its economic prosperity, political influence, and recently for its creation and maintaining peace amongst nations. With a law of this magnitude it is important for business persons to be aware when conducting foreign business in an integrated region, because it is the integration law that supersedes a countries law, an example could be Germany’s law could be on a lesser level then the law of the European Union. Now the magnitude of the integrated region can be evaluated on the agreed upon level between countries, there are currently six progressive levels of regional integration starting with Free Trade Area, and building upon the free trade area each level adds additional laws that would help create a closer relationship between two nationsShow MoreRelatedMultinational Enterprises And The Trade Blocs Essay837 Words   |  4 PagesTrade blocs determines the scope of regional markets and the regulations by which firms must operate. This is where the term Economic integration, which represents an agreement between nations within and geographic region (International Business), arises. Economic integration comes with three approaches: global integration -countries around the world cooperate through the WTO -, bilateral integ ration – two countries cooperate closely- , and regional integration – group of countries located in theRead MoreThe Role Of Regional Integration Essay1476 Words   |  6 PagesGlobal Business as pertaining to our topic describes changes in our worlds economy that result from dramatically increased internationational trade and cultural exchange. This paper will analyze the role of NAFTA (North American Free Trade Agreement) in promoting global business. Besides NAFTA, regional integrations such as: EU, APEC, ASEAN, CAFTA, or others may be discussed for the purpose of comparing advantages and disadvantages of regional integration. Also discussed will be the economic developmentRead MoreThe Logic Of Regional Integration1260 Words   |  6 PagesAccording from the concept of economic integration, which defined by Mattli Walter in his book (The Logic of Regional Integration. Europe and Beyond). Although, the regional integration can describe in many different aspects of cooperation, but it is mostly used in a condition of economy and international trade. Integration then becomes economic integration and can be defined as â€Å"the voluntary linking in the economic domain of two or more formerly independent states to the extent that authority overRead MoreThe Asean And The Private Sector1455 Words   |  6 Pagesprivate sector in Southeast Asia have never been strongly felt in the present time since the market collapse in the early 2000s. Governments and regional associations scurried in saving their economies by providing massive interventions in spending and funding. Much of the crises became the woe of the public and the private sector became more averse to business. Rohde (2011) posited that â€Å"restoring of financial confidence led to a permanent transfer of losses to the public sector, as the private sector’sRead MoreEssay about Marxs Theory of Alienation1087 Words   |  5 Pagespool. Regional integration and globalization often are joined in academic and popular discussion because both entail the strengthening of economic, political, cultural, and social flows that cross national boundaries. There are three key distinctions between these regional integration and globalization. First, regional integration is geographically bound. Globalization is frequently defined as the strengthening of cross-border flows, and the borders crossed are any national borders. Regional integrationRead MoreEssay Regional Analysis: North American Free Trade Agreement1482 Words   |  6 PagesRegional Analysis: North American Free Trade Agreement In todays globalized economies, virtually every country in the world belongs to some form of regional integrated trade organization whether by direct membership, bilateral or multilateral agreement. Regional integration is a process by which sovereign states in a particular region enter into an agreement to promote economic growth through the reduction of barriers to trade restrictions and safeguard common interests such as the environmentRead MoreAn Approach to the Regional Neoliberal Governance in Southern Africa from a Critical Perspective1177 Words   |  5 PagesAn approach to the regional neoliberal governance in Southern Africa from a critical perspective. In order to examine the possible implications of neoliberalism in contemporary Africa, an analysis based on a regional dimension is important. The multiplicity of strategies and methods of governance in a specific regional context can appear merging, mingling or even clashing, since regions can be understood as political and social projects, where different actors act in favour of the maintenanceRead MoreThe Creation Of AENN : The Implementation Of The AEAN1097 Words   |  5 PagesIn 1992, ASEAN’s six members made the historic decision to integrate the regional economy, with ambitions to transform the region into a â€Å"single market and production base† (Declaration of ASEAN Concord II, 2003). From that year until the adoption of ASEAN Economic Community Blueprint in 2006, where the target date of 2015 was set for the AEC, several framework agreements and action programmes have been signed. Even beyond the milestone onset of 2015, ASEAN continued its efforts towar d the realizationRead MoreFeasibility Of Financial, Distribution, And Marketing Partnerships For The Company Within The Chosen Country797 Words   |  4 Pagesenterprises pursue international sourcing strategies as a way of reducing exchange-related risk† (p.285). Currency rates can have an impact on revenues for a U.S. company expanding operations in foreign countries, depending on exchange rates. For example, the U.S. dollar is only worth seventy-four cents in Italy. c) E-Commerce E-commerce is the method of using the Internet to exchange goods and services (Keegan Green, 2009, p.576). Pier 1 Imports has an established e-commerce business-to-consumerRead MoreMercosur: Regional Integration Essay1118 Words   |  5 PagesRegional Paper - MERCOSUR Regional integration is the process by which countries agree to reduce or eventually remove tariff and non-tariff barriers to promote the free flow of goods and services amongst countries. Global business is accomplished when organizations conduct business internationally and are not committed or bounded to a single home country. Regional integration combined with global business supports organizations conducting business globally amongst a variety of countries by