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Regional Integration

1. The document defines key terms associated with regional integration such as free trade area, common market, trade bloc, and globalization. 2. It also lists challenges facing the Caribbean region, including small size, lack of diversification, unemployment/underemployment, human resources issues, natural challenges, migration, and shortage of capital. 3. Finally, it asks to put the stages of Caribbean integration in chronological order and define abbreviations for regional organizations such as CARICOM, CSME, OECS, and others.

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TIA DATSON
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15 views

Regional Integration

1. The document defines key terms associated with regional integration such as free trade area, common market, trade bloc, and globalization. 2. It also lists challenges facing the Caribbean region, including small size, lack of diversification, unemployment/underemployment, human resources issues, natural challenges, migration, and shortage of capital. 3. Finally, it asks to put the stages of Caribbean integration in chronological order and define abbreviations for regional organizations such as CARICOM, CSME, OECS, and others.

Uploaded by

TIA DATSON
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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TERMS ASSCOCIATED WITH REGIONAL INTEGRATION

A. Write the correct term or concept on the line provided.


Regional Integration Trade Liberalization Globalization Free Trade Area
Bilateral agreement Multi-lateral agreement Trade Bloc Common Market
Single Market Fiscal Policy Intra-Regional Trade
1. ______________ The movement towards the removal of trade barriers among the members of the
World Trade Organization (WTO).

2. ______________An arrangement whereby a group of countries agrees to remove the tariff and non-
tariff barriers to trade among them.

3. ________________ Agreement among many groups, countries or nations

4. _________________ A group of countries that have few or no restrictions on the movement of goods,
money and people between the group members.

5. ________________ The use of government spending and revenue collection to influence economy

6. _________________ An economic unit, formed of nations, intended to eliminate or markedly reduce


trade barriers among its members

7. ________________ Countries in the region buying locally produced goods from or selling locally
produced goods to other countries in the region

8. _________________ The process by which countries all over the world are becoming connected.

9. ______________ Agreement between two groups, countries or nations

10. ________________ Made up of a large number of countries, with the same political and economic
aims, linked by special trading arrangements.

11. ________________ the process by which neighbouring countries agree to cooperate and work closely
together to achieve peace, stability and wealth.
CHALLENGES FACING THE CARIBBEAN REGION

B. MATCH THE CHALLENGES FACED TO THE CORRECT EXPLANATION

Lack of Diversification Small Size Human Resources Unemployment/Underemployment


Migration Natural Challenge Shortage of Capital

1. They do not have enough market of the goods they produce. It is only by joining together market may
become economical viable. __________________________

2. Many people lack basic other skills. There are frequent problems with supply and demand in the labour
markets. Demand for skilled workers can sometimes not be met from the local population.
_________________________

3. Due to this there is negative effect on those concerned and also on a country’s economy through low
productivity, a decrease in tax revenue and a potential increase in state-dependency. ______________

4. In many Caribbean countries, a large number of people with tertiary qualifications leave to live and
work elsewhere, usually in a developed country. ________________________

5. Our location and warm temperature all year round makes us prone to hurricanes. Also droughts,
landslides and soil erosion. _______________________

6. Countries have similar natural resources, grow the same crops, and have the same economic activities.
This makes it difficult to increase trade within the region. Also, many countries are dependent on one
sector for major exports, so if they are problems to that sector the economy may suffer badly.
_________________________

7. The Caribbean countries are described as “developing countries” (a country that has not yet reached
the stage of economic growth to stand on its own for further growth) due to the shortage of capital.
___________________________

C. PUT THE STAGES OF INTEGRATION IN THE CORRECT ORDER AND STATE THE DATE EACH STARTED

Caricom, Carifta, Federation, Oecs, Acs, Csme

D. Write what each abbreviation stands for

1. CARICOM -
2. CSME-
3. OECS-
4. CARIFTA-
5. CARIFESTA-
6. CDEMA-
7. CARDI

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