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AGREEMENTS:
MADE BY:
PRASHANT SINGH
SANCHIT SACHDEVA
MOHIT MISHRA
RASHI BISHT
HINDOL HAZRA
What is Regional Trade Agreement?
Increased
Better prices and
competitiveness of
selection is
the 3 member
available in
countries in the
consumer goods of
global
member countries.
marketplace.
• Reducing paperwork
• Harmonizing standards - e.g. technical and safety standards
• Introducing the euro - allowing a single currency to trade with
• Enforcing the movement of people - allowing member state citizens
to move freely between other countries.
OTHER BENEFITS OF EU
Broad political and legal benefits
European harmony
Legal and human rights.
Prospect of membership has helped modernise countries, such as Turkey. . The
prospect of gaining membership of the EU, encourage countries to implement human
rights legislation.
Economic benefits
Free trade and removal of non-tariff barriers have helped reduce costs and prices for
consumers. Increased trade with the EU creates jobs and higher income. Over 52% of
UK exports are to the EU. Trade within the EU has increased 30% since 1992.
Labour and free movement of people
Free movement of labour and capital have helped create a more flexible
economy. For example, UK and Ireland have benefited from the
immigration of Eastern European workers to fill labour market shortages in
certain areas, such as plumbing, nursing and cleaning.
EU has enabled people to travel freely across national boundaries making
trade and tourism easier and cheaper.
Benefits of EU trade to consumers
• 3 main benefits from trade, of which two directly and one indirectly
contribute to benefit European consumers and their welfare: