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International Trading Essay

1329 words - 6 pages

Introduction: 1
Importance of international trade 1
International trade impact on the Syrian economy: 2
Joining International trading organISATION (tRADING bLOCS) 2
Trading blocs with Syria 3
Suggested bloc for Syrian to join 3
Final words 4

The buying and selling of goods and services across national borders is known as international trade. International trade is the backbone of our modern, commercial world, as producers in various nations try to profit from an expanded market, rather than be limited to selling within their own borders. There are many reasons that trade across national borders occurs, including lower production costs in one region ...view middle of the document...

• Creating new job opportunities.


“Since the late 1990s, Syria has been very open to international trade. In 2005, is signed a free-trade agreement with Turkey (in operation since 2007) and joined the GAFTA (Great Arab Free Trade Area), a regional free-trade zone, while an association agreement with the European Union was drafter in 2005, then in 2008 and has been ready to be signed since the fall of 2009.” {4}

International trade represents about 70% of the country's GDP, and textile industry has share of 16% of Syrian GDP. {4}
International trade has direct impact on increasing the Syrian GDP by developing export and import figures and eventually the raised need of labor power will increase to contribute decreasing the unemployment rates.
Adopting a policy for developing textile international trading can positively benefit the payment balance by increasing export of textile products to other countries, and eventually decrease the trade deficit.

Trading blocs have an essential role to regulate and control the pattern of international trade; they are designed to enhance and encourage regional or international trade by a set of agreements on tariffs and taxes, thus they maintain a favorable trade framework among the member countries.
There are a many trading blocs which rose in the period of economy liberalization in different parts of the world. For instance: {5} & {6}
• NAFTA (North American Free Trade Agreement)
• EU (European Union)
• ASEAN (Association of Southeast Asian Nations)
• MERCOSUR (Mercado Comun del Cono Sur)
• CEFTA (Central European Free Trade Agreement)
• GAFTA (Greater Arab Free Trade Area)
• SAARC (South Asian Association for Regional Cooperation)
• CEMAC (Economic and Monetary Community of Central Africa)
• East African Community (EAC)
• SACU (South African Customs Union)
• PARTA or PIF (Pacific Regional Trade Agreement)
• AEC (African Economic Community)
• CACM (Central American Common Market)
With knowing that any country can be a member of more than one trading bloc at the same time.
Joining a trading bloc has advantages and disadvantages for Syria:
1. Remove trade and investment barriers within trade bloc members
2. Increasing interdependency of neighboring countries
3. Represent a country as a group which has greater weight and voice on world's political and economic scene.
4. Benefit of various range of goods available.
5. Makes movement of money and goods easier.
6. Increased competition between members.
7. More rapid spread of technology
8. Enhance international bargaining power

1. Member countries will only look out for each other and ignoring the non-member countries.
2. Encourage more illegal immigrants within the atmosphere of relaxed borders between bloc member countries
3. Might lead to greater monopoly schemes led by merging...

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