GreenBox
European Economic community (ECC) policies
The EEC trading is important to maintain good relationships with its members. These members have numerous programs to help developing countries such as ONG´s intervention, humanitarian help, environmental.
It is a former association designed to integrate the economies of Europe. It is the most prominent example of a free trade area, actually is what economists call a custom union. Whereas member nations in a free trade area remove all barriers to trade among themselves, in a customs union they also adopt uniform tariffs on goods and services from outside the union. The EEC is currently attempting to transform itself from a customs union to a true common market in which capital and labor, and not just goods, are allowed to flow freely from one country to another.
Although Colombia is not as dependent to the EEC as to United States and China, several factors affect Colombian economy directly:
(WTI): Right after the Brexit took place, the Efe registered WTI fell 2,47 dollars (down by 5%).
Tariffs on exports: the EEC provides an easy and efficient way of having a unique agreement for trade amongst each country of the community. That means that cases like the retirement of UK from the EEC would affect those economies that export directly to UK. UK represents 2% of Colombia’s exports against 0,9 of the European country.
The EEC is the thirth largest trading partnet in the Andean countries. The principal imported product fro EU are manufactured goods and machinery (48%) and chemichal products (19,1%).
http://www.econlib.org/library/Enc1/EuropeanEconomicCommunity.html
http://davidusher.blogspot.com.co/2012/04/handy-dandy-guide-to-europes-economies.html