Question: The purpose of this assignment is to develop a better understanding of the nature, characteristics, and patterns of international trade and the trade policies and practices to ease or remove trade barriers, in the context of an economic trade zone. You are required to select an economic trade zone (e.g. European Union, NAFTA) and demonstrate a comprehensive knowledge regarding the international trade policies and procedures. 

You are required to demonstrate knowledge regarding the following topics:

  • Brief trade history of the trade zone
  • Freight flow statistics – import/export and freight composition 
  • Trade policies – tariff, subsidies, quotas, off-shoring and FDI
  • Final conclusion

Answer: International trade gives countries an opportunity to compete in global markets…….