Regional integration and Economic Blocs

Regional economic integration involves groups of countries forming alliances to promote free
trade, cross-national investment, and other mutual goals. This integration results from regional
economic integration blocs in which member countries agree to eliminate tariffs and other
restrictions on the cross-national flow of products, services, capital and in more advanced stages
labor within the bloc. The countries in an economic bloc become parties to a free trade
agreement, which eliminates tariffs, quotas and other trade barriers. The countries that become
members of an economic bloc,