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International Business: "How Companies Can Make The Most Of Opportunities Offered By Increasing Regional Economic Integration?'

1244 words - 5 pages

Since the Second World War most of developed countries focused on economic growth and stability within their boarder as well as organizations within their policies tend to potential raise on international and local markets. In order to achieve this goal a lot of successful companies form economic cooperation. Famous type of such union is regional economic integration, that includes countries eager to improve their economic development and become competitive participants in international business. Such integration requires direct interference of State as all operations take place with immediate collaboration of country's government. Institutions through which countries seek to integrate their businesses make an agreement on treating other member states in accordance with set rules and policies of new-formed international integration. They may establish common standards and practices in different areas, including environmental appointments. Any regional economic integration before starting it activity sign up the Protocol where there are notified general rules for every member/party of integration. Every separate Protocol may have its peculiarities, but ususally it the organization and its member States decided e on their respective responsibilities for the performance of their obligations under the Protocol. In such cases, the organization and the member States shall not be entitled to exercise rights under this Protocol concurrently. Every organization should declare the extent of their competence with respect to the matters governed by the Protocol. This is to be done with a help of company's instruments of ratification, acceptance and approval or accession. Organizations should also inform the Depository, who shall in turn inform the parties, of any substantial modification in the extent of their competence.There is no doubt that with increasing popularity of regional economic integration there appeared more chances for companies to realize their numerous opportunities. In order to take advantage of regional trade groups companies need to adjust organizational structure and operating strategy to certain regional economic proximity.So what are the reasons that after the Second World War and especially in recent years so many countries tend to ally to economic collaboration rather then head a business within the frames of their company? There are several reasons most of which concern historical and political similarities of neighboring countries. As it is known it is profitable and good for the company to trade with their products on international markets. As a participant of regional economic integration company may import the products to another country that is on a short distance. Consumer's interests in those countries are likely to be similar as well as history and interests. If the countries are located far from each other but have the same political ideologies they will still form trade alliances groups or conclude the agreements.The...

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