Match the items of List – I with List – II : Codes : a b c dList – I (International Economic Groups) List – II (Year of Establishment) a. European Union (EU) i. 1973 b. European Free Trade Association (EFTA) ii. 1992 c. Caribbean Community (CARICOM) iii. 1985 d. South Asian Association for Regional Cooperation (SAARC) iv. 1960
ii iv i iii
European Union: the EU was created by the Treaty on European Union (Maastricht Treaty), signed in February 1992 and in force from November 1993, building on the earlier European Communities. So EU goes with 1992 (ii).
European Free Trade Association: EFTA was set up by the Stockholm Convention of 1960 by the United Kingdom, Austria, Denmark, Norway, Portugal, Sweden and Switzerland as a free-trade alternative to the European Economic Community. So EFTA goes with 1960 (iv).
Caribbean Community: CARICOM was established by the Treaty of Chaguaramas in July 1973, replacing the Caribbean Free Trade Association (CARIFTA). So CARICOM goes with 1973 (i).
South Asian Association for Regional Cooperation: SAARC was founded at the Dhaka Summit in December 1985 by India, Pakistan, Bangladesh, Sri Lanka, Nepal, Bhutan and the Maldives (Afghanistan joined in 2007). So SAARC goes with 1985 (iii).
The matching is therefore a-ii, b-iv, c-i, d-iii.
Hence, ii iv i iii.
Similar Questions
The Maastricht Treaty of February, 1992 renamed the European Community (EC) as :
A common market is one where :
From the following, identify the trading blocks in the world and choose the correct code :
(a) European Union
(b) North American Free Trade Agreements
(c) South Asian Association of Regional Co-operation
(d) Central American Common Market
(e) Central African Customs Union
Codes :
Which of the following is not a form of economic integration in the context of intra-regional trade ?
Match the items of List - I with the items of List - II and select the correct answer with the codes given below :
List - I List - II (a) SAARC (i) Philippines (b) ASEAN (ii) Canada (c) EU (iii) Afghanistan (d) NAFTA (iv) Hungary Codes :
(a) (b) (c) (d)
Important Questions from Regional Economic Integration
- SAFTA (South Asian Free Trade Agreement) categorises member nations as Non-Least Developed Contracting States (NLDCS) and Least Developed Contracting States (LDCS). Identify the NLDSC states from the following
A. Bangladesh
B. Pakistan
C. Bhutan
D. India
E. Sri Lanka
Choose the correct answer from the options given below: - Common market achieves uniformity in monetary policy and fiscal policy among the member countries in __________.
- Identify the correct statement.
- Match List-I with List-II relating to benefits and cost of economic integration and identify the code representing correct matching.Codes :
List – I List – II a. Trade creation i. Movement of production and resources in opposite directions. b. Trade diversion ii. Become active when a member country does not augment export but simply shifts its imports from low cost source to high cost source. c. Trade deflection iii. Shifting the locus of production from high cost to low cost centre within the union. d. Polarisation forces iv. Goods produced in a third country entering a free trade area through a member country having lower tariff. - What is the situation referred to as, amongst the following, when intra-region trade is duty free but there is variation in tariff structure for import from a third country ?
