BUNSS 4
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int113_module_six_discussion_sample.pdf.docx
INT 113 Module Six Discussion Sample: Economic Integration
Trade Elements (World Trade Organization Country Profile, 2015): LeRoy Cooper.
|
Major Trading Partners |
Exports: Russia European, Nigeria, Canada, Saudi Arabia, United States.
Imports: European Union, China, United Arab Emirates, United States, India. |
|
Major Imports/Exports |
Exports: Agricultural products 7.6/100.0 Fuels and mining: 67.6 Manufactures: 30.2
Apparel, foodstuffs, Fruit, vegetables, plants, Coffee, tea, Cereals & preparations (Central Intelligence Agency, 2015)
Imports: Agricultural products 6.7 Fuels and mining 25.1 Manufactures 57.9
Machinery, chemicals, semi-finished goods, Minerals & metals, Petroleum, (Central Intelligence Agency, 2015) |
|
Regional Trade Agreements and Member Countries |
The EU would like to inform the WTO Members that on 30 June 2014 it has initialled an Economic Partnership Agreement with 16 West African States (Benin, Burkina Faso, Cape Verde, Ivory Coast, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, Togo and Mauritania), the Economic Community of West African States (ECOWAS) and the West African Economic and Monetary Union (WAEMU). |
Business Observations:
· Proximity seems to influence the determination of heavy trading partners. The access to the EU, Russia, and Nigeria, Canada, Saudi Arabia, United States is appealing.
· As apparel and textiles are already major exports, there could be existing competition, but it also means an existing skilled labor force.
· Liberia maintains trade agreements with much of the Mid West, parts of Africa, as well as a large part of Europe. The agreement with the EU gives access to 28 member countries. This does increase the competition for certain products, but it also makes Liberia an ideal place for investment because of the access already established.
References
Central Intelligence Agency. (2015). The world factbook: Turkey. Retrieved from https://www.cia.gov/library/publications/the-
world-factbook/geos/tu.html
https://www.wto.org/english/tratop_e/region_e/rta_participation_map_e.htm
World Trade Organization Country Profile. (2014). Turkey. Retrieved from http://stat.wto.org/CountryProfiles/TR_E.htm
