Economic Union

An Economic Union is a group of countries that not only agree to remove trade barriers and allow free movement of goods, services, and people among them, but also coordinate their economic policies, including taxes and regulations. This integration aims to promote economic stability and growth, often involving shared institutions and commitments to common standards. The most advanced form, like the European Union, allows member countries to operate as a single market while maintaining their individual national governments. Overall, it enhances cooperation to create a stronger, more interconnected economy across the member nations.