5/24/2023 0 Comments Blocs philadelphiaEFTA – European Free Trade Association with member countries Iceland, Liechtenstein, Norway and Switzerland.The EU combined is amongst the world’s biggest exporters and around two thirds of EU countries’ total trade is done with other EU countries This is the most important trade bloc in Europe. The best-known examples of trading blocs in Europe are: This is a customs union in which the members also agree to reduce restrictions on the movement of factors of production – such as people and finance – as well as reducing barriers on the sale of goods.Ī common market which is taken further by agreeing to establish common economic policies on such things as taxation and interest rates and, even, a common currency. They maintain their own individual tariffs and quotas with respect to non-members.Ĭountries that belong to customs unions agree to reduce or abolish trade barriers between themselves and agree to establish common tariffs and quotas with respect to outsiders. Members agree to reduce or abolish trade barriers such as tariffs and quotas between themselves. Read Open to Export’s general introduction to how world works for further information. While the formation of trade blocs, such as the European Union and NAFTA (North American Free Trade Agreement), has led to trade creation between members, by the same token it is also harder for countries outside the bloc to trade, leading to what is called trade diversion, where a company that otherwise might have got the business in that country is prevented from doing so because of a trading bloc and the barriers in place for non-member countries. They can also ensure access to competitively priced imports from other countries. International trade agreements can open up new opportunities for exporters. The idea is that member countries freely trade with each other, but establish barriers to trade with non-members, which has had a significant impact on the pattern of global trade. One of them is through trading blocs.Ī trading bloc is a type of intergovernmental agreement, often part of a regional intergovernmental organisation, where regional barriers to international trade, (tariffs and non-tariff barriers) are reduced or eliminated among the participating states, allowing them to trade with each other as easily as possible. Dominic School through the EITC and OSTC programs.There are a variety of ways in which countries can “protect” their domestic economies from competition from abroad. Be sure to ask about financial aid, scholarships, and grants that will make your child’s Catholic education more affordable.Īnd, be sure to ask your family, friends, and neighbors to consider contributing to St. If you find yourself hesitant as a parent to send your child to a Catholic elementary school due to financial reasons, rest assured that there are resources out there to ensure your child receives the best education possible. Families earning no more than $90,000 per year (with $15,842 for each dependent member of the household) can receive up to $8,500 for regular education and up to $15,000 for special education. OSTC scholarships specifically help families living in the attendance area of low-performing public schools. Through EITC and OSTC money, our network of Catholic elementary schools is more affordable, allowing parents to provide an outstanding and faith-based education for their children.ĮITC scholarship dollars apply more broadly than OSTC scholarship dollars. And through the EITC program, these businesses will receive a substantial tax credit. How does it work? Qualifying businesses and organizations make donations to our school or to an organization like BLOCS (Business Leaders Organized for Catholic Schools). Dominic School receives donations through these programs and from BLOCS. Thanks to the Educational Improvement Tax Credit (EITC) program and the Opportunity Scholarship Tax Credit (OSTC) program, your child can qualify for scholarship money to pay for their education. However, you should never let this hold you back from considering a Catholic elementary school in the Archdiocese of Philadelphia. The decision to choose Catholic education from an early age will have a positive impact on the future of your son or daughter.įor many, paying for a Catholic education can prove to be a daunting task. Ensuring they have a well-rounded, challenging (yet stimulating) education will lay the foundation for their lives in many ways. Your child’s education and where their education takes place is very important.
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