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  • Essay / Free trade The ILO and the economic bloc - 1059

    Free trade, the ILO and the economic blocThe International Labor Organization (ILO) is a United Nations agency created in 1919. The ILO is internationally recognized for its promotion of human rights at work and social justice. The ILO has survived the real test of time, since the Treaty of Versailles, which is the only treaty action to survive today. The ILO now has more than 200 economic integration agreements in force around the world, most of which are relatively new and involve almost every nation in one or more trade agreements. ILO members in favor of free trade insist that “free trade is good for nations (ILO, 2014)”. The support of ILO members is based on the fact that free trade is good for all nations. There are differences of opinion about the effectiveness of labor provisions in trade agreements. Labor provisions can be found in trade agreements. Labor provisions affect the terms and conditions of labor law itself. Labor provisions in free trade agreements can be different, adding to the complexity. Trade agreements between the United States and Canada contribute to a movement for labor standards. Free trade is good for nations, through trade agreements it brings growth to the economy and labor provisions to protect the country's workers and work towards standardization of labor laws (ILO IIFLS, 2014). The specific benefits sought by joining an economic bloc are reduced fares and limited fares. It also removes barriers to investment and trade within the bloc. The members of the bloc are now represented collectively. Members have a say on the global economic and political scene. As a trading bloc, it also expands the range of goods and services available. Money and goods now flow...... middle of paper ......o members of the bloc, but it has many key free trade agreements around the world. The ASEAN Economic Community is well-positioned for strong economic growth through free markets. This is confirmed by the amount of money entering the region from the United States. Europe and elsewhere. The free trade market seeks to ensure the success of the ASEAN Economic Community. It is seen as the catalyst that will energize the free trade market and benefit the United States, Europe and beyond. Many studies have been done to support this theory and many countries are convinced of it, as shown by their investments in the ASEAN Economic Community. Free trade has been beneficial to all nations and opens doors to the global economy, promotes social, political and labor improvements, making the world as a whole a better place..