ABSTRACT
This chapter discusses international and European trade policy. It looks at international organisations that wish to promote free world trade and the organisation for economic cooperation and development guidelines with regard to corporate social responsibility. There are various forms of economic cooperation. The objective of regional trading arrangement is to reduce trade barriers between the member countries. Mercosur is the fourth-largest economic power in the world after the European Union (EU), the USA and Japan. The customs union between the EU and Turkey means that no import duties are levied on Turkish trade with the EU. The most common forms of cooperation are: Economic cooperation free-trade bloc, customs union and common market. A customs union is necessary because otherwise importers would import goods into the country with the lowest import duties and subsequently transport them to a country with high import duties.
