... Agreement), MERCOSUR (Mercado Comun del Cono Sur, also known as Southern Common Markets (SCCM)), and ASEAN (Association of Southeast Asian Nations). "Since 1990 194 trade agreements have been registered with the WTO" (OECD, 2001, p.1). The level of integration drives the philosophy of each trading bloc. The least regional integration is the Free Trade Area. This level dictates free trade amongst members but has no agreements governing trade with non members. The next level is the customs union where free trade is practiced among members as well as reciprocity with non members. The common market is the middle level of regional integration where free trade policies are set up between members, reciprocity or a common trade policy exists between non members, and members follow similar economic and employment policies to allow labor and capital to move freely between them. The second most integrated level is the economic union. At this level ...

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