Economic Alliances

Economic alliances are agreements between countries to work together to strengthen their economies. They often involve reducing trade barriers like tariffs and import taxes, making it easier to buy and sell goods and services across borders. These alliances can also include cooperation on investments, technology, and policies to promote growth and stability. By collaborating, member countries aim to increase economic activity, create jobs, and improve living standards. Examples include regional groups like the European Union or trade agreements like NAFTA. Overall, economic alliances help countries leverage shared benefits through coordinated economic efforts.