Activity 1: Basic concepts in foreign trade
Activity 1: Basic concepts in foreign trade 1. History of Economic Integration Global perspective: Economic integration began after World War II with initiatives to rebuild and connect national economies. Institutions like the GATT (later replaced by the World Trade Organization) promoted free trade, reducing tariffs and trade barriers. Over time, regional economic blocs emerged, such as the European Union and NAFTA (now USMCA), encouraging regional cooperation. Colombia’s case: Colombia began its integration efforts by joining the Andean Community of Nations (CAN). Later, the country signed several Free Trade Agreements (FTAs) with the United States, the European Union, Mexico, Chile, and more. These agreements opened Colombia’s economy to international competition and opportunities. 2. Multilateral Organizations Multilateral organizations support economic cooperation and development. The most relevant are: World Trade Organization (WTO): Regulates trade rules between countries...