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Unit 5 Assignment 1 Exemplar - P3,P4 - International Trade - Btec Business Level 3 Diploma - 2021
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Unit 5 Assignment 1 Exemplar - P3,P4 - International Trade - Btec Business Level 3 Diploma - 2021
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Assignment 1 Section 2 – P4 ExemplarP4 - Explore the role of trading blocs on international trade.
The EU
The EU created its own internal market, which allows the goods and services to move easier
between the countries that are in the group. There are 28 countries in the EU currently. In the
EU they have their own currency which is the euro and this has enabled more movement of
goods. There are some areas of the EU where there are no border controls and people can
freely move between the countries and this give EU citizens responsibilities. The impact of
this is that people can go to different countries to live there and they don’t need a visa like
they would if you wanted to live outside of the EU. The internal market they have created is
making it easier for imports and exports to move across the EU which impacts businesses
making it cheaper for them to import and export within the EU.
Unilever
I am going to talk about the role the EU trading bloc plays on Unilever in the UK. When the
UK announced they would be leaving the EU this meant that the value of the pound dropped.
This would make Unilever worth less because the value of the pound wasn’t as valuable.
Kraft Heinz put in a bid for Unilever, which was rejected as Unilever, believed that it
‘undervalued’ their company and their company was worth more than what they were
offering. Foreign buyers are trying to buy these big companies, such as Unilever because the
vote to leave the largest trading bloc, the EU, meant that the value of the companies
decreased and they were more attractive to other companies who might want to take over
them. However, Unilever is trading in all of the trading blocs as they trade in 190 countries.
Trading blocs do play an important role for Unilever because it has devalued them as a
company from the changes that are being made to the trading blocs, like Brexit. As Unilever
are in every trading bloc this means that they are effected by all of the changes within the
blocs.
White Stuff
White Stuff trade only in the EU trading bloc. This is the largest trading bloc and has 28
countries in it. Only trading in one trading bloc means White Stuff benefit from easier trade
and this allows their goods to move freely between the countries they trade in however, they
will be importing goods from countries in other trading blocs. As a small company, it is
easier for them to concentrate on trading in the one bloc and they benefit from the European
single market. Trading in just the EU means there is the removal of trade barriers for White
Stuff. However, in the future
because of Brexit this will effect White Stuff because they will have to create new deals with
the countries which are in the EU. The UK will have to pay taxes on goods, which have been
imported, from the EU and they will have to pay for goods, which are exported into the EU
however for White Stuff there probably won’t be any. However, most of their products are
currently imported from India, Cambodia and Bangladesh, which are all in Free Trade areas.
These countries, which are providing their supplies, mean that it might be more difficult for
them to get their products imported because they aren’t within in the EU unlike their sales
products. This is because the countries they are operating in are in the UK. In the future,
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