REGIONAL COMMERCIAL BLOCKS AND ECONOMIC INTEGRATION REGIONAL COMMERCIAL BLOCKS AND ECONOMIC INTEGRATION

Claudia Mihaela Enachi ()
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Claudia Mihaela Enachi: Stefan cel Mare University of Suceava, Romania

The USV Annals of Economics and Public Administration, 2020, vol. 20, issue 1(31), 57-63

Abstract: The processes of regionalization and globalization have intensified in the last decade, markets have opened up more than ever and trade has been liberalized under the free trade agreements signed. We could say that regionalization is a stage of globalization, a globalization that still has certain limits, because I do not think it will be achieved at the level of all states. It also feels the need to strengthen the rules at the level of international trade, in order to ensure the fulfillment of the objectives regarding the development of the states and to avoid certain imbalances at the level of the economy of some states. A trade bloc is a type of intergovernmental agreement, often part of a regional intergovernmental organization, in which regional barriers to trade (tariffs and non-tariff barriers) are reduced or eliminated among participating states. In Europe, several regional blocs have been formed to rebuild this continent decimated by the two world wars. Starting from the idea of rebuilding Europe, the European Union was created, an organization that today enjoys great success, being one of the main players in the world. This structure takes on new dimensions from one period to another, seeking not only to liberalize trade at its level, but also to integrate economically by implementing development projects carried out at the level of candidate countries, new entrants or to further develop the economies of founding member states.

Date: 2020
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