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8 Cards in this Set
- Front
- Back
- 3rd side (hint)
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What is a free trade agreement?
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When members agree to trade freely with one another, but have separate barriers with non-member countries.
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What does ASEAN stand for?
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Association of the South East Nations
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What is a regional trading block?
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A group of countries which agree to freer international trade with eachother- through the removal of trade barriers on the movement of goods,services, labour and capital
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What does AANZFTA stand for?
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Asean Australian New Zealand Free trade Area
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What does ANZCERTA do?
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It eliminates ALL tariffs and quotas on all trans-tasman goods between nz and aus
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What are the benefits of free trade agreements?
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-foster freer trade flows and create stronger relationships. -eliminates tariffs and quotas. -encourages investment. -enhances cooperation. -increases australias GDP. -enhanced trade opportunities
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Challenges of Free trade agreements?
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-ASEAN has no legal authority to enforce compliance. -different interpretations of terms under Asean free trade
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Diff
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What does innovation mean?
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The process of commercially pioneering new ideas and creations in the production process
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