OPEC (Organization of the Petroleum Exporting Countries) is an intergovernmental organization coordinating the petroleum policies of its member countries to stabilize oil markets. It functions more like a cartel managing a specific commodity rather than a typical trade block aiming to reduce trade barriers across a wide range of goods and services among member nations.
Which one of the following is not trade block ?
Asked in HPPSC HPAS Prelims 2013 · Topic: Balance of Payments (BoP) (Definition and Significance of Balance of Payments (BoP))
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