ABSTRACT
Trade agreements between countries establish trade guidelines and the flow of economic resources. With the objective of establishing economic integration, countries implement different types of trade agreements, including preferential trading areas, free trade areas, customs unions, common markets, economic unions, and monetary unions. The agreements, including the European Union, U.S.-Mexico-Canada Agreement, Mercosur, and ASEAN, vary with respect to the role of trade flows, economic resources, currency, policy, and other characteristics.
