International Trading Essay

1329 words - 6 pages

CONTENTS
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

INTRODUCTION:
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.

INTERNATIONAL TRADE IMPACT ON THE SYRIAN ECONOMY:

“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.

JOINING INTERNATIONAL TRADING ORGANISATION (TRADING BLOCS)
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:
Advantages:
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

Disadvantages:
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...

Other Papers Like International Trading

International Business Management Essay

2131 words - 9 pages International Business ManagementRegional Trading Blocs | | | | | | | | Table of contents Introduction……………………………………………….……………………. 3 Section one...…………………………………………………………………….4 Section two …………………………………………...……………………...….7 Section three ……………………………….………........………………...….10 Conclusion …………………………………………………………….......…..11 References …………………………………………………………………..…12 Introduction Regional trading

Management Essay

1480 words - 6 pages , the average daily trading volume of only 190 million while in the Philippines, Malaysia, Thailand and India U.S. $ 1 billion, 10billion, $ 200 million and $ 300 million (Bank for International Settlements, 2002). Second, the market is highly concentrated. For agencies and historical reasons, Four big state-owned commercial Banks for more than 90% of total In the inter-bank market transaction. Among them, the bank of China to sell more than

International Trade

1066 words - 5 pages services this is considered trading. International trading is considered really controversial while domestic trading does not have as many problems as international trading seem to have. If you should purchase items that are foreign made products the prices are lower and the quality of the product is better than an item that made in the United States. The practice of internationally trading has caused some companies within the United States

International Trade

757 words - 4 pages . When trade increases the recession decreases and consumers begin to spend. Exchange rates can also affect international trade, as countries currency weakens to trading countries it becomes more costly to do business with that country. This can affect the costs of importing goods from another country and can make domestic products considerably higher when they normally wouldn’t be if those products were within its borders. Countries that have

International Business Hw1

574 words - 3 pages Chapter 1 Question 1: What factors explain why the worlds trading nations have become increasingly interdependent, from an economic and political viewpoint, during the post-World War II era? The world trading nations have become increasingly interdependent because of the formation of the European community during the 1950s. In the period of 1960s the rising importance of multinational corporations helped to increase the worlds trading nation’s

Internatinol Trade

1162 words - 5 pages International Trade 2011 [Pick the date] Rodamia is a country that is considering international trading of goods to bordering countries. The bordering countries are Uthania, Alfazia, and Suntize. Rodamia is the largest of the four countries. Rodamia’s GDP consists of four percent agriculture, thirty percent of industry, and sixty six percent of service into its economy. The President of Rodamia Michael Jacobs wants to change the trading

Customary International Law

1201 words - 5 pages example of progressive development is the case of Trendtex Trading Corporation vs Central Bank of Nigeria. In this case the Nigerian Central Bank made a claim for state immunity. All three of the Judges accepted the doctrine of incorporation, where international law was incorporated into domestic law, in order for domestic law to respond to changes in international law. However, it is safe to say that this move towards development was discontinued as

Case Study

2575 words - 11 pages CEO of the widely acknowledged Martha Stewart Living Omnimedia Inc. a company known for its interests in television, merchandising, publishing, electronic commerce and related international partnership among other interests. In the early 2000s, Martha Stewart was accused of insider trading whereby she had sold four thousand ImClone shares one day before the company’s stock nose-dived. The charges of securities against Martha were thrown away

International Trade and Finance Speech

897 words - 4 pages (McTeer, 2008). Trading deficits also have an impact on consumer spending. When consumer spending is higher trading deficit percentages increases. The opposite occurs when Americans are not spending much money. Domestic import markets also increase as the value of the American dollar increases. Government choices in regards to tariffs and quotas affect trade and international relations by allowing the United States to decipher between the

Hk Logistics

632 words - 3 pages busiest international air cargo and also ranked third after Shanghai and Singapore among the top 10 global container ports in 2011, with 24.4 million TEUs' (20-foot equivalent units’) throughput. It has a facility of round the clock border crossing and one stop customs clearance also extremely relaxed tax and regulatory services. Trading and logistics account 25.5% of GDP of value added in 2010. Size and Type of Market * Freight

Business Management

883 words - 4 pages Chapter 1: International Interdependence 1.4 ADVANTAGES & DISADVANTAGES OF INTERNATIONAL TRADE Pg 22-27 Advantages of International Trade The fundamental reason for international trade is to sell something that we don’t need and to buy something we do need. Trade creates jobs, attracts investments, attracts new technology and materials, and offers Canadians a wider choice in products and services. People spend, save, or pay taxes with the

Related Essays

Motivewave Software Partners With Oanda To Offer Their Forex Trading Services

672 words - 3 pages . The company's many awards attest to  the power and flexibility of its trading platform. In 2013, OANDA was honored with nearly a dozen awards,  including Best Trade Execution Provider, Best Retail Trading Platform and Best Mobile Trading Platform by  International Finance Magazine; as well as Best Value for Money by Investment Trends in each the U.S., UK,  and Asia Pacific markets. OANDA was the first online provider of comprehensive currency

International Trade Debate Essay

520 words - 3 pages International Trade Debate Just like every debate, there are positives and negatives to the main topic. The same can be said for international trading. International trading has been going on between countries for years and is a big part of keeping individual economies stable. Not every country has the resources it needs to produce certain products. To obtain resources they need, they trade with other countries. There is however a

International Trade Simulation Essay

994 words - 4 pages generate products that are not your countries primary crop, service or product. A good strategy for Rodamia would be to import corn from Uthania and electronic components from Suntize. When a country joins the international trading circle it gives that country more time to specialize in producing what goods it is best at. International trading helps a country improve and advance the production of their primary goods and services. It also makes

Carbon Trading Within Eu Essay

2504 words - 11 pages to grow further. The growth of the emissions market profile have attracted the number of investors and authorized firms to participate 1 Kyoto Protocol is a protocol to the United Nations Framework Convention on Climate Change aimed at fighting global warming. Furthermore, this Protocol is the first international implementation of a cap-and-trade scheme and defines articles related to emissions trading ( rohe, 2009). 1 | Carbon Emissions