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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