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Definition and forms of economic cooperation among nations

September 21, 2011 Leave a comment


Economic cooperation between countries is cooperation between countries in the economic field, bilateral, regional and international levels. Economic cooperation between countries covering several fields, such as exports and imports of goods (goods and services), lending and borrowing of capital and payments, and acceptance services.
Based on the number of countries, economic cooperation can be divided into two, namely as follows.
a. Bilateral cooperation is cooperation between the two countries.
b. Multilateral cooperation, the cooperation between many countries or cooperation by a country with some other countries.
Multilateral cooperation can be divided into two kinds:
1. Regional cooperation is a cooperation between several countries in one region.
2. International cooperation is cooperation between the countries in the world and not confined in one area.

Forms of economic cooperation between countries covering the following areas.
a. Interstate commerce. Form of interstate commerce includes the export and import goods.
b. Implementation and acceptance of services or investments referred to exports and imports of services.
1. Export of services is the provision of services to a person or a foreign country with getting paid.
2. Imports of services are receiving services from a person or a foreign country by paying services.

The purpose of economic cooperation between countries
Some of the goals of economic cooperation between countries is as follows:
a. Mutual fill the gap between countries in the economic field.
b. Increasing economies of these countries in finance or monetary, trade, industry, mining, banking, agriculture or the increase of food, service and development in general.
c. Improving the living conditions of mankind worldwide.
d. Fostering friendship between nations.
e. Maintain order and world peace.

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