Regional Integration Flashcards
(6 cards)
Regional integration
process by which neighboring countries come together to form closer economic, political, and social ties through cooperation and agreements.
integration aims to
enhance economic growth, strengthen political stability, and improve regional development by reducing trade barriers, promoting free movement of goods, services, and people, and fostering collaboration on shared challenges
Example
European Union
can provide benefits such as
increased trade, stronger diplomatic relations, and collective bargaining power on the global stage.
may also face challenges,
including political disagreements, unequal distribution of benefits, and concerns over national sovereignty.
seeks to
achieve mutual benefits for participating nations by fostering unity and collaboration