Regional Economic Integration

   

Added on  2023-01-05

6 Pages738 Words99 Views
Running head: ECONOMICS
Economics
6/26/2019
Regional Economic Integration_1
ECONOMICS 1
Table of Contents
Introduction................................................................................................................................2
Regional Economic Integration..............................................................................................2
Levels of Regional Economic Integration..............................................................................2
Economic and Political Arguments of Regional Economic Integration................................3
Economic Case...................................................................................................................3
Political Case......................................................................................................................4
Conclusion..................................................................................................................................4
References..................................................................................................................................5
Regional Economic Integration_2
ECONOMICS 2
Regional Economic Integration
Regional economic integration can be determined as the contract or agreement
between different nations in the geographic region for decreasing and eventually eliminating
non-tariff and tariff barriers and allowing free flow of services and goods and different
production factors within member nations (Naveh, Torosyan & Jalaee, 2012).
Levels of Regional Economic Integration
Source [(The Geography of Transport Systems, 2019)]
Free Trade – Tariffs between the members' nations are majorly decreased and some
are abolished. All member nations maintain their own tariffs in terms of the third country. For
example - European Free Trade Association between Switzerland, Iceland, Norway, and
Liechtenstein and North American free trade agreement between nations Mexico, United
States, and Canada.
Regional Economic Integration_3

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