Regional – Global
Essay title: Regional – Global
Regional Paper
The role of regional integration in promoting global business is not immediate or smooth. Global business is made possible to help other countries in their own area create trade negotiations by using policy and regulatory reform. Although growing countries are concerned about risks of opening their doors to other countries, knowing access we lead to cheaper goods and services, along with increasing the economy.
There is plenty of revenue to made in Sub-Saharan Africa, the regions are going to develop by capitalism seems smaller than ever. South Africa is the big exception with a diversified and relatively primitive economy and a population growth rate.
Through tremendous economic gains, raising the standard of living for many residents and improving their domestic business climates. Its a reasonable guess that much of the growth in world markets is going to come in the third world in the foreseeable future
South Africa participates in North American Free Trade Agreement (NAFTA) “By lowering trade barriers, the agreement has expanded trade in all three countries, this has led to increased employment, more choices for consumers at competitive prices, and rising prosperity” (NAFTA) and Southern African Development Community (SADC). SADC objectives are to include economic incorporation and reduce poverty. The members of SADC are working to eliminate exchange controls in preparation for eventual to have a single currency in the region.
Zimbabwe is a small country that has proven to their neighbor cities, even a small country can change. Zimbabwe changed from an underdeveloped to a self-sufficient country. The image was changed with the determination to join the world on the trade, by being involved with Common Market of Easter and Southern Africa (COMESA), Free Trade Act (FTA), and Automated System for Customs Data and Management (ASYCUDA) and EuroTrace.
Uganda is involved in Common Market of Easter and Southern Africa (COMESA), Free Trade Act (FTA), Private Sector Foundation Uganda (PSFU), and Automated System for Customs Data and Management (ASYCUDA) and EuroTrace
Zimbabwe and Uganda are both within Common Market of Eastern and Southern Africa (COMESA). The main objective is to have COMESA attain a growth to develop by promoting a balance to development the production and markets. COMESA wants to establish a Free Trade Area (FTA) to reduce the tariffs, with other countries nearby to follow.
COMESA wants to simplify the customs of procedures and documentation to standardize the trade, to facilitate the trade in the region is to apply Automated System for Customs Data and Management (ASYCUDA) and EuroTrace. The objective is to assist the businesses in the community to clear the goods faster from customs areas and make the items available, with improved efficiencies and increase the revenues. The PSFU in the economy is at the heart of structured consultations between the public and private sectors.
South Africa, Zimbabwe, and Uganda because eligible for tariff preference under the Africa Growth and Opportunity Act (AGOA). Since these countries have shown progress continually, it will improve the market economy.