International Trade: Major Trade Blocs and Their Impact on Global Trade - EU, USMCA, BRICS, Slides of International Business

Download International Trade: Major Trade Blocs and Their Impact on Global Trade - EU, USMCA, BRICS and more Slides International Business in PDF only on Docsity! International Business Management 3 Major Trade Blocs of the World ° EU ¢ USMCA ¢ BRICS M.Harikrishnan Trade Bloc - Meaning A trading bloc is a formal agreement between two or more regional countries that remove trade barriers between the countries in the agreement. The idea is that member countries freely trade with each other, but establish barriers to trade with non-members, which has had a significant impact on the pattern of global trade. List of the 10 largest trading partners of the European Union With United Kingdom withdrawal from the European Union, United Kingdom enters the top ten partners of the EU-27. The 10 largest trading partners of the European Union with their total trade (sum of imports and exports) in millions of euro for calendar year 2020 are as follows. In the table, a positive trade balance means that the EU exports more than it imports from the given country. These figures do not include foreign direct investment or trade in services, but only trade in goods. 1 2 3 4 5 6 7 8 9 bp ° trade after Brexit (2020 in billion euros UK Switzerland Russia Turkey Japan Norway South Korea India - According to the European Commission Directorate - (era Te- (ome I Clelen The EU and India - an analysis in 2020 v4 The EU is India's third largest trading partner, accounting for €62,8 billion worth of trade in goods in 2020 or 11.1% of total Indian trade, after China (12%) and the US (11.7%). The EU is the second-largest destination for Indian exports ( 14% of the total) after the USA. India is the EU’s 10th largest trading partner, accounting for 1.8 % of EU total trade in goods in 2020 , well behind China (16.1),the USA (15.2%), and the UK (12.2 %). Trade in goods between the EU and India increased by 72% in the last decade. Trade in services between the EU and India reached €32.7 billion in 2020. The EU's share in foreign investment inflows to India doubled from 8% to 18% in the last decade. EU foreign direct investment stocks in India amounted to €75.8 billion in 2019, which is significant but way below EU foreign investment stocks in China (€198.7 billion) or Brazil (€318.9 billion). Approximately 6,000 European companies are present in India, providing directly 1.7 million jobs and indirectly 5 million jobs in a broad range of sectors. In US $ Billions 60 USMCA’s Imports and Exports - from and z to India (Individually) cop alte) US (Or TaTTel- Mexico USMCA Member countries ™ Imports from India (in US $ Billion) M Exports to India (in US $ Billion) BRICS (Brazil Russia India China South Africa) " The BRICS members are known for their significant influence on regional affairs. "Since 2009, the governments of the BRICS states have met annually at formal Selena ise = Russia hosted the most recent 12th BRICS summit on 17 November 2020 virtually due to the COVID-19 pandemic. "Originally the first four were grouped as "BRIC" (or "the BRICs") before the induction of South Africa in 2010. " The BRICS have now formed a BRICS Bank, a Contingent Reserve Arrangement and even a Think Tank Council. Intra BRICS Trade & World Statistics - 2017 % Share Country | World | Brazil | China India | Russia Seti dine of its Africa | BRICS Global Trade Brazil 368.49 : : ; 24.37% China 4107.16 7.20% India 587.36 : 19.32% Russia 738.42 ' ' ! 13.58% South 171.30 . : . 20.23% Africa Total 5972.73 10.61% Frameworks of major Asia-Pacific trade deals CPTPP COMPREHENSIVE AND PROGRESSIVE AGREEMENT FOR TRANS-PACIFIC PARTNERSHIP @ WHO'S IN IT? er) PR earn] Eee tts Syrin c2) » re) \ 6) Canada La WAM eds) 5 Ast W WHO'S YET o* pr TO RATIFY IT? a p | am a ; Oma i COM EENEE) aA oma Dy ene HOW BIG Is IT? Bi MMe CS ee Coe Ort] Cota lial xo} 3 GDP of 1 a Hi Reet US$ 1.9 TRILLION, mV RM Te) Badass Ge Re eager oe Lia waa. : PEOPLE isis Sed eC en eR aCe. ocd www.janio.asia JANIO References https://en.wikipedia.org/wiki/European_Union#Politics https://en.wikipedia.org/wiki/List_of_the_largest_trading_partners_of_the_ European Union https://ec.europa.eu/trade/policy/countries-and-regions/countries/india/ https://en.wikipedia.org/wiki/United_States%E2%80%93M exico%E2%80%93Canada_Agreement https://edition.cnn.com/2019/12/10/politics/nafta-us-mexico-canada-trade-deal-differences/index.html https://www. statista.com/statistics/186525/volume-of-us-exports-of-trade-goods-to-india-since-1985/ & https://www.statista.com/statistics/187683/volume-of-us-imports-of-trade-goods-from-india-since-1985/ https://tradingeconomics.com/canada/imports/india#:~:text=Canada%20imports%20from%20India%20was,updated%20 on%20May%200f%202021 a https://tradingeconomics.com/canada/exports/india#:~:text=Canada%20exports%20to%20India%20was, updated%200n %20May%200f%202021 https://tradingeconomics.com/india/exports/mexico & htips://tradingeconomics.com/mexico/imports-from-india https://en.wikipedia.org/wiki/BRICS https://pib.gov.in/Pressreleaseshare.aspx?P RID=1594938 httne:/Aananar civilcansicaindnia cam/ciihiact/Cccay/licthricbc_arcrhiavamantc_andfailiiracd Atm