For example, on August 5, 2004, the United States signed the DR-CAFTA (Dominican Republic-Central America Free Trade Agreement), a free trade agreement with a bloc of countries with developing economies (Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic). By grouping together, these six nations became a major trading partner with the United States, forming the second largest export market for the United States in Latin America (only behind Mexico). By 2009, the two-way trade from DR-CAFTA reached a value of $40 billion. The United States exported mineral fuel, machinery, and corn, wheat, and rice cereals. The Central American countries exported knitted and woven apparel, bananas, nuts, coffee, and sugar. The chief aim of DR-CAFTA was to immediately eliminate 80 percent of tariffs on U.S. exports, with the rest phased out eventually. An important example of a European trading bloc is the European Coal and Steel
Community (ECSC), established by the Treaty of Paris in 1951. Six founding nations (France, West Germany, Italy, Belgium, Luxembourg, and the Netherlands) banded together to merge their coal and steel industries. It was both an economic and political union, and the first organization based on the principles of supranationalism, or the unification of several states under one single authority. The ECSC nations wanted economic inter-cooperation and to establish European solidarity. The ECSC Treaty was in effect for 50 years before the Treaty of Paris expired on July 23, 2002. When it ended, several treaties had been added to the Treaty of Paris, greatly increasing the size and scope of the bloc.
In 1957, the same six nations signed the Treaty of Rome, which formed the European Economic Community (EEC) to create common markets and further the integration of European economies. The creation of a common market creates a free trade area, in which tariffs and import quotas are removed.
In 1965, the administrations of ECSC and EEC, along with the European Atomic Energy Community (Euratom), were merged. By 1992, these three European Communities (ECSC, EEC, and Euratom) officially merged into one European Union (EU). The EU is now the world's largest trading bloc. As of 2012, it has 27 member nations, with several candidate countries being considered for admission, including Turkey. However, Turkey's bid has been denied for several reasons. Turkey has not recognized the genocide in Armenia as the rest of the European countries have. The country's leaders have also failed to guarantee the right to freedom of expression to all citizens, and the leaders have often sided against other European countries in many world conflicts.
The EU established the euro as a common currency, helped advance European free market economies, and added foreign policy and judicial law to its concerns. The eurozone is the name for the EU member states that have adopted the euro as their main currency. Some European nations such as the United Kingdom have chosen not to adopt the common currency. In contrast to the common market created by the EEC, the EU created a single market in which the trade and movement of goods and services between members is as easy as within each one, removing borders and taxes to the maximum extent possible.
The top industrialized countries, including France, The U.S., the U.K, Russia, Germany, Japan, Italy, and Canada; they have met since 1975 (excluding Russia, which finished the membership process in 2006) to discuss economic and political issues facing the international community; the EU is also a participant in the G8, but it's not a full member The Kyoto Protocol (KP) was a binding agreement between 37 industrialized nations to reduce and stabilize greenhouse gas emissions. The KP is an extension of the United Nations Framework Convention on Climate Change, which proposed the agreement in response to global warming. The delegates adopted the KP in Kyoto, Japan, on December 11, 1997. It took effect on February 16, 2005. By September of 2011, 191 nations had adopted the KP. The target goals of the KP were to reduce greenhouse gas emissions an average of 5.2 percent between 2008 and 2012. The burden was placed on developed nations rather than developing nations. To reach these target goals, each nation was required to measure and record their actual emissions.
No country that signed the Kyoto Protocol met its target goals. Many of the countries that signed the protocol actually increased their productions of greenhouse gasses, sometimes by a large margin. Greece, for instance, increased their emissions by 25 percent during this time period; Spain increased theirs by 15 percent. In addition, missing from the ratified agreement was the United States. Under President Clinton and with the active participation of Vice President Al Gore, the United States initially agreed to the KP on December 11, 1998. However, President Bush declined to ratify it. He cited high costs, lack of scientific evidence for global warming, and the unfairness that "big polluters," like China and India (categorized as developing nations), were not required to cut emissions. Since the United States accounted for 36 percent of the world's emissions in 1990, their exclusion from the agreement created a huge blow to its goals.