#TRADING BLOCS DEFINITION ECONOMICS FREE#

OPECHEADQUARTERS : ViennaOBJECTIVE: To co-ordinate and unify petroleum policies among Member Countries, in order to secure fair and stable prices for petroleum producersAn efficient, economic and regular supply of petroleum to consuming nationsTo ensure a fair return on capital to those investing in the industry. The five Founding Members were later joined by nine other Members: Qatar IndonesiaSocialist Peoples Libyan Arab Jamahiriya United Arab Emirates AlgeriaNigeria EcuadorAngola Gabon OPECThe Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization, created at the BAGHDAD CONFERENCE on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.

Trade BlocsDEFINITIONA trade bloc is a type of intergovernmental agreement, often part of a regional intergovernmental organization, where regional barriers to trade (tariffs and non-tariff barriers) are reduced or eliminated among the participating states.

#TRADING BLOCS DEFINITION ECONOMICS FREE#

TRADE BLOCKS AND FREE TRADE AGREEMENTSPRESENTED BY:Deepika PandeyDivya GadeockTarun Khurana

Trading blocs definition economics