Question

QUESTION 1: Chapters 8 and 9 cover institutional arrangements whose purpose is to facilitate cross-national transactions. In one sentence, give the name of ONE regional cooperative agreement your country belongs to. In ONE sentence, give the name of ONE global cooperative agreement your country belongs to. In five to seven sentences, explain whether belonging to those two cooperative agreements facilitated your country’s transactions with other countries.

THE COUNTRY IS MEXICO

Answer 1

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Answer :

One regional cooperative that India is a part of is South Asian Free Trade Area( SAFTA).

One global cooperative that India is a part of is BIMSTEC.

Yes, belonging to both these agreements has facilitated India's transaction with other countries because agreements help in removing or curtailing the trade barriers such as import quotas and tariffs. Also, it builds a trading block which facilitates TRADE CREATION i.e. goods that were initially imported from other countries can be imported from the trade agreement countries in lower trade barriers. This international trade eases imports and exports channelling transactions between the countries.