Globalization Term Paper Example | Topics and Well Written Essays - 250 words - 1

Globalization - Term Paper Example Arab Maghreb union consists of five states such as Tunisia, morocco, Algeria Libya and Mauritania all from North Africa. The five members signed a treaty to enhance stability and tranquility in the region coupled with superior coordination of policies that have mutual benefits. Additionally, the other major agreement among those states in the union is to enhance free trade that would improve their economic stability. Another key aspect that could boost trade in AMU is establishment of joint projects and other economic programs that could make the AMU members to be competitive in the world market (The Chinese University of Hong Kong, Para. 1-5). AMU and European Union (EU) are similar in that their aims are to improve the economic status of their respective members by making regulations that will enhance effective trade. However, difference between the two unions is visible because AMU is a free trade area while EU is a customs union (Shafeeq Para. 16-19: Hannan Para.1-5). In conclusion, trade unions have benefited much in boosting the world’s economy as they have assisted to eliminate the barriers of trade that barred economic growth. AMU and EU are perfect examples of trade unions with the two unions exhibiting same objectives but they have different policies. Hannan, Daniel. The EU is Not a Free Trade Area but a Customs Union: Until We Understand the Difference, the Debate about Our Membership is Meaningless. 5 Feb. 2014. Web. 5 Feb. 2014.