Question

what are the economic motivations for the group of countries in the trading bloc to form an agreement Do you think the countries in the trading bloc you selected are likely to have cross-cultural similarities or differences? Do you think countries with distinctively different cultural, historical, and economic histories can effectively enter into a trade agreement?

Answer 1

The main motto of the countries in the trading bloc to form an agreement is to bring foreign direct investment in their nations.Increased foreign investment creates more job opportunities for their citizens and also help the countries to expand their businesses.Having an agreement in trading bloc help the countries to eliminate the unnecessary tariffs which lowers the cost of imports.
Yes ,the countries I have selected for trading bloc has cultural similarities.Like we take NAFTA partners ,it involves United States,Canada and Mexico and these three have cultural and regional similarities with each other.Culture does influence the people that how do they think,behave and communicate.And due to the regional similarities they favour each other, that means they protect their intra regional trade from any outside forces.

Although countries with same cultures favor each other but still keeping following points in mind, different nations with different culture and economic histories can enter into trading bloc.They are as follows-
Countries entering into trading bloc agreement with different nation should be aware from their culture.So that one knows each others cultural disparities and does not involve in any unnecessary arguments.
Countries should accept the cultural differences like individual indifferences.
Countries should preserve their self identity ,it is an important issue in the globalised world.There should be win-win situation,a healthy business sustains only when it has something for both the parties.
For example eastern countries do trade trade successfully with western countries and although they have lot of cultural differences but they have created the cultural synergy.