Regional economic integration is the process by which countries in a geographic region 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 global trade.
What Is Regional Economic Integration? Regional economic integration is the process through which countries in a geographic region progressively remove barriers to trade and investment and coordinate their economic policies. It is the overarching concept that encompasses trade blocs , free trade agreements , customs unions, common markets, and economic unions. The result is a more integrated regional economy in which goods, services, capital, and — at higher stages — labor move more freely acros