Define what is regional economic integration.

Regional economic integration is an agreement among countries in a geographic region to reduce and ultimately remove, tariff and non tariff barriers to the free flow of goods or services and factors of production among each others. It can be also refers as any type of arrangement in which countries agree to coordinate their trade, fiscal, and/or monetary policies are referred to as economic integration. Obviously, there are many different levels of integration. Free …

…methods. It helps to accelerate national investments and foreign direct investments in order to acquire international competitiveness in the face of increasing globalization. Regional Economic Integration stimulates economic growth in countries and provides additional gains from free trade beyond international agreements such as GATT and WTO. Economic interdependence creates incentives for political cooperation and reduces potential for violent confrontation. Together, the countries have the economic clout to enhance trade with other countries or trading blocs.