... zone, as it has not reached this goal completely, since there are still a number of industries, which receive protection, such as citrus, lumber and Mexican petroleum. MERCOSUR is a trade agreement has members in the South America and within ten years will represent possibly almost all the countries on the continent. Not only a free trade area, it is a customs union, which means there is a common tariff on all imports from outside the trade bloc. ASEAN initially began as a political organisation and later created AFTA, which is representative of Southeast Asian countries. It is a free trade area in the making, as it continues to work out agreements to eliminate tariffs, quotas and other restrictions on trade. It has concentrated recently on removing restrictions on capital and services, but it is behind other trade blocs in these areas. ASEAN is trying to protect themselves from their powerful ...

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