The Nordic Association is regional economic, political and defense entity created in 1934, after the failure of the Conference on European Union. Its purpose is to promote regional cooperation beyond the Nordic Monetary Union. The Nordic Association functions mainly by means of membership in a series of multilateral treaties and organizations that collectively form the Nordic Council.
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rdfs:label
| - Nordic Association (Twilight of a New Era)
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rdfs:comment
| - The Nordic Association is regional economic, political and defense entity created in 1934, after the failure of the Conference on European Union. Its purpose is to promote regional cooperation beyond the Nordic Monetary Union. The Nordic Association functions mainly by means of membership in a series of multilateral treaties and organizations that collectively form the Nordic Council.
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abstract
| - The Nordic Association is regional economic, political and defense entity created in 1934, after the failure of the Conference on European Union. Its purpose is to promote regional cooperation beyond the Nordic Monetary Union. The Nordic Association functions mainly by means of membership in a series of multilateral treaties and organizations that collectively form the Nordic Council. Economic integration by means of a common economic zone and common currency is still under study. The Stockholm Convention of 1937 established a 3 year road map for the inauguration of a free trade zone between its members. Each member state controls its foreign trade policy outside the Nordic Council. While the Nordic Council is not a customs union, it only establishes between its members states a free trade zone, member states have full rights to enter into bilateral third-country trade arrangements, they can agree to have a co-ordinated trade policy. As a result, its member states have jointly concluded trade agreements with Latvia, Lithuania and Poland.
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