European Union Advantages
a. Briefly, what advantages and disadvantages does a country experience upon joining a regional economic alliance as in the European Union?
Regional Economic union: its economic agreement between countries to facilitate the movement of money (capital), products, worker and all services, this union should have the same monetary and social policies
European Union: It’s economic, borders and political union between the Europe countries (twenty seven countries) that have the same policy in all the areas Advantages joining regional economic alliance:
1. Increased economic integration
Economic integration: is unification the policies between regional or no regional countries by cancel some trading restriction between the union countries ,
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Creating a common market that would permit the free flow of services, goods, works and technology
7. Improved access to a larger market and increased competition
8. Competitive and efficient firms benefit from regional economic integration
9. More jobs
Disadvantages joining regional economic alliance:
1. Often hurts specific sectors and communities within the economy
For sure you will find sectors hurts from this union, especially companies that have lack of capital and weak competition to face the large companies that will enter the market
2. Negotiating any form of economic integration is not easy
Each countries must ensure their advantage to accept entrance of any union, so big union take a long negotiation before establish
3. Migration problem: because the entire worker will transfer toward the big cities or countries so already increase the service and house prices
4. Uncompetitive and inefficient firms can suffer from an influx of new competition when a regional economic integration agreement is implemented
5. Conflicting national regulations affecting goods and services and hindering trade and the competition of the common market
6. Participating members lose control over their own domestic money supplies and economic
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o B: products must be (taken) Israeli standards.
• Dividing the revenues in customs, the Israeli government are responsible for collecting the Palestinian imports instead of Palestinian customs and then transfer the revenues to ministry of finance
2- Arab Free Trade Area (GAFTA)
This Agreement between 18 Arab countries to reduce the customs between Arab countries signed in 1997
3- Interim Agreement on Trade and Cooperation with the European Union (IAA)
Agreement was signed on 1997 between the Palestine and the European union to the benefit of Palestine, The EU started with a duty free treatment of bilateral industrial trade, and duty free quotas for agricultural, agri-business and fishery products, 2012
4- Agader Agreement ( AA)
Agreement was signed in 2004 between Egypt, morocco, Tunis, Jordan and Palestine was joined in 2009, the aim of this agreement to establish free trade between the parties
5- Trade with Turkey Agreement was signed in 2009 in Istanbul between turkey and Palestinian authority to remove all tariffs between parities
6- Free trade agreement between Palestine and
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