IEcoS (Economic Services) Indian Economics Foreign Trade-India and WTO Requirements Terms and Persons (Page 21 of 25)

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Regional Trade Blocs or Free Trade Agreements

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Regional Trade Blocs or Regional Trade Agreements (or Free Trade Agreements) are a type of regional intergovernmental arrangement, where the participating countries agree to reduce or eliminate barriers to trade like tariffs and non-tariff barriers. The RTBs are thus historically known for promoting trade within a region by reducing or eliminating tariff among the member countries.

Regionalism (Free Trade Arrangement)

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Regionalism refers to the trend of creating large number of Free Trade Agreements. Here, the importance of WTO (Multilateralism) comes down as regional trade blocs or free trade arrangements introduce higher level of trade liberalization.

Reserve Tranche or Gold Tranche

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Reserve tranche is the component of a member country՚s quota with the IMF that is in the form of gold or foreign currency. For any member country, out of the total quota, 25% should be paid in the form of foreign currency or gold. Hence this is called as reserve tranche or gold tranche. The remaining 75% can be in domestic currencies and it is called credit tranche.