SADC meeting. Image credit lestimes.com
ZIMSEC O Level Commerce Notes:Trading Blocs
- A trading bloc is a group of countries that has removed/reduced trade restrictions between and among member states in order to facilitate trade.
- Examples of trade blocs are SADC, COMESA, ECOWAS, ACP countries, the Commonwealth of Nations and the African Union (AU).
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.
To access more topics go to the Commerce Notes page.
Quick NetOne, Telecel, Africom, And Econet Airtime Recharge
If anything goes wrong, chat with us using the chat feature at the bottom right of this screen
