Wto vs Rei

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Contents
I. Introduction [2-4] a. Background……………………………………………………………………………. 2 b. Executive Summary……………………………………………………………….. 3 c. Acknowledgement …………………………………………………………………. 4

II. World Trade Organization (WTO) [5-6] a. Introduction…………………………………………………………………………..5 b. Functions……………………………………………………………………………….5 c. Members……………………………………………………………………………….6

III. Regional Economic Integration (REI) [7-14] a. Introduction…………………………………………………………………………… 7 b. Different Levels of REI……………………………………………………………. 8 c. Why REI…………………………………………………………………………………. 10 d. Advantages of REI………………………………………………………………….. 11 e. Disadvantages of REI……………………………………………………………… 11 f. Examples of REI……………………………………………………………………… 12 i. NAFTA

ii. SAFTA
iii. EU
iv. BIMSTEC

IV. WTO vs. European Union (EU) [15-20] V. WTO vs. SAFTA [21-23] VI. Conclusions [24] VII. Bibliography [25]

I. Introduction

Background
This study deals with the complexities of global and regional trade. We primarily deal with two groups of organizations- The World Trade Organization (WTO) and Regional Economic Integrations (REIs)- evaluating their strengths and weaknesses in terms of trade tariff, quotas, trade dispute settlements, policies, opportunities, and threats. The study also looks at the structure of the word WTO, its members, and its operating procedures while also dealing with its history and formation. In the other hand we also look at various REIs spread across different continents like NAFTA, SAFTA, EU, and BIMSTEC in the light of WTO.

EXECUTIVE SUMMARY
The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. It consists of 157 members and 27 observer governments and its major function is to oversee the implementation, administration and operation of the covered agreements and provide a forum for negotiations and for settling disputes. Regional economic integration is an agreement among countries in a geographic region to reduce and ultimately remove, tariff and non tariff barriers to the free flow of goods or services and factors of production among each others. There are various levels of intergartion such as Free trade area, Custom Union, Economic union etc. REI, on positive aspect, provides a larger market and increases the level of competitiveness but on the negative aspect REI causes loss of sovereignty and flexibility. Some example of REI are NAFTA, SAFTA, EU etc.

The European Union is an economic and political union of 27 member states which are located primarily in Europe. The EU operates through a system of supranational independent institutions and intergovernmental negotiated decisions by the member states. EU provides common market and monetary policy, protects environment and prevents war on one hand and on the other hand, little countries have less say in that union and countries lose their sovereignty.

Acknowledgement
First and foremost I offer my sincerest gratitude to my supervisor, Mr. Ram Sharan Pokhrel, who has supported me throughout our report with his patience and knowledge whilst allowing us the room to work in my own way. One simply could not wish for a better...
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