A Foreign Alliance Talk (Scenario)
As manager of the international department for your company, you have been asked by the local Chamber of Commerce to deliver a speech on foreign trade. The chamber president even goes so far as to say "and be sure to include the EU, NAFTA, CAEU, GAFTA and all that stuff because we're afraid the economists are right -all the good jobs will have to go elsewhere." As you pour over your notes, you try to choose the best information to present in the allotted half hour.
-An important topic in your talk will be GAFTA. You want to explain that a key aim of the GAFTA agreement is to__________ .
A) achieve complete economic integration among member states by the year 2020.
B) reach full liberalization of trade among member states.
C) negotiate collectively with China, the US, and other economic powers to improve trade terms for Arab countries.
D) create one economic bloc against other regional agreement such as those in the European Union

Question

Quizplus · Accepted Answer

GAFTA (Greater Arab Free Trade Area) aims to achieve full liberalization of trade among member states, with the ultimate goal of forming an Arab common market. It does not seek to create a unified bloc against other regional agreements, but rather to improve trade terms for Arab countries. However, it does not collectively negotiate with countries like China and the US.