Economic integration is the process by which countries progressively remove trade barriers and coordinate economic policies. It ranges from preferential trade areas to full economic unions and is a defining feature of modern globalization.
What Is Economic Integration? Economic integration is the process through which countries progressively remove barriers to trade and investment and coordinate their economic policies. It is the overarching concept that encompasses free trade agreements , trade blocs , customs unions, common markets, and economic unions. The result is a more integrated regional or global economy in which goods, services, capital, and — at higher stages — labor move more freely across borders. Key Takeaways Econom