Knowledge in Regional Economic Integration
Regional Economic Integration
Regional Economic Integration can best be defined as an agreement between groups of countries in a geographic region, to reduce and ultimately remove tariff and non-tariff barriers to the free flow of goods, services, and factors of production between each other.
Abdul Ahad
Economic integration
Economic integrationThere are several stages in the process of economic integration, from a very loose association of countries in a preferential trade area, to complete economic integration, where the economies of member countries are completely integrated.A regional trading bloc is a group of countries within a geographical region that protect themselves from imports from non-members in other geographical regions, and who look to trade more freely with each other. Regional trading blocs increasingly shape the pattern of world trade – a phenomenon often referred to as regionalism.Stages of integration
Valli Nachiappan