Economic Regionalism

Economic regionalism refers to countries within a specific geographic area cooperating to promote trade, investment, and economic growth. By forming regional agreements or organizations, these countries reduce barriers like tariffs and foster closer economic ties. The goal is to create a more integrated market that benefits member nations through increased competitiveness, shared resources, and economic stability. It’s a strategic way for neighboring countries to leverage their collective strength, improve development, and enhance their influence in the global economy.