The South Asian Association for Regional Cooperation (SAARC) is an organization of South Asian nations, founded in December 1985 and dedicated to economic, technological, social and cultural development emphasizing collective self-reliance.
The association of southeast nation or ASEAN was established on 8 august 1967 in Bangkok, Thailand with the signing of the ASEAN declaration by the founding member of ASEAN, namely Indonesia, Malaysia, Philippines, Singapore and Thailand.
The North American Free Trade The agreement is a settlement between Canada, Mexico, and the United States. That makes NAFTA the world’s biggest unhindered commerce understanding. The agreement came into force on January 1, 1994
Regional economic integration is a process, in which states enter into a regional agreement in order to enhance regional cooperation through regional institutions and rules.
Business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activity. Business can be for-profit entities or non-profit organizations that operate to fulfill a charitable mission or further a social cause.
The balance of payments of a country is a systematic record of all economic transactions between the residents of a country and the rest of the world.
Foreign direct investment is the investment made in production or business by the country in another country by either means of buying a company or expanding its business in a foreign country.
The two major barriers to international trade are tariff barriers, or taxes on imported goods; and nontariff barriers. The nontariff barriers to trade include import quotas, embargoes, buy-national regulations, and exchange controls.