SADC meeting. Image credit

SADC meeting. Image credit

ZIMSEC O Level Commerce Notes:Trading Blocs

Reasons for forming trading blocs.

  • To reduce reliance on countries outside the bloc and thus encourage the bloc members to be independent.
  • To promote trade among member states y reducing tariffs.
  • To foster peace and friendship among member states.
  • To assist each other economically in times of problems.
  • To bargain powerfully as a group when negotiating for financial assistance or debt cancellation.
  • To mobilise resources together and share ideas or technology as a group.

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