I (Meaning and importance of Exports) Unit Structure

4 
 
INTERNATIONAL MARKETING- II 

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43 
Unit Structure 
4.0 
Objectives 
4.1 
Introduction
4.2 
Types of Economic Integration 
4.3 
Objectives of Economic integration 
4.4 
Trading Blocs 
4.5 
European Union (EU) 
4.6 
North American Free Trade Agreement (NAFTA) 
4.7 
Association of South-East Asian Nations (ASEAN) 
4.8 
South Asian Association for Regional Co-operation 
4.9 
Implication of Trading Blocs 
4.10 Global System of Trade Preferences (GSTP) 
4.11 Principles of Guidelines of GSTP 
4.12 Summary 
4.13 Questions for Self-assessment 
4.0 OBJECTIVES 
The main purpose of this chapter is to:
● 
Describe major regional economic groupings 
● 
Explain the types and objectives of economic integration 
● 
Know in detail about the trading blocs- (EU, NAFTA ASEAN, 
SAARC) 
● 
Understand the implications of trade blocs for international 
marketing 
● 
Identity the global system of trade preferences and its 
principles or guidelines 
4.1 INTRODUCTION
Economic integration is a group countries which join together 
for enhancing trade and development. The member countries try to 
encourage trade within the group by removing or reducing tariff and 
non-tariff barriers. They may discriminate against non-members by 
collectively imposing common external barriers. 
4.2 TYPES OF ECONOMIC INTEGRATION
The economic integration varies from lowest degree of 
integration i.e. Preferential Trade Arrangement to highest degree of 
integration i.e. Economic Union. The various types of economic 
integration are as follows. 

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