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South Korea has moved closer to joining a 12 Nation trading pact which aims to slash trade barriers between nations which make up about 40% of world economy. Some of these countries that are already in the pact include United States of America and Canada.They are entering negotiations about possibly joining the TPP - The Trans Pacific partnership Trade pact.

This is an interesting article as it sheds some light on the hindrances on forming a trade union. There is a discrepancy between the wants of both party. The EU asks for lower tariffs on automobiles, wines and also higher FDI, yet India demands greater access for Indian professionals in markets of the member countries.

The trading bloc presents in the article is the ASEAN trading bloc, which includes 10 nations. India and ASEAN are negotiating on a free trade agreement on services and investments. However, some nations of the ASEAN have not agreed on the agreement. The agreement, if implemented, will help boost movement of Indian professionals in the ASEAN region and it will increase more investments in services sector. This article is a great example of a trading bloc and how nations that are a part of the trading bloc must agree on an agreements. Here, India is not negotiating with all 10 nations instead of just one. Combining all nations help strengthen all nations economically.

This article deals with the new resolution that has been passed by the EU government demanding that the free trade pact with the US be under discussion. This is to safeguard the movie industries and online media of countries like France against foreign competition. With the influence of American culture and Hollywood films in every country around the world, the EU is determined to maintain its own culture and industries. This is a good example of how countries set up trade barriers to protect their own local industries against powerful international competition.