Regional Economic Communities (RECs)

Regional Economic Communities (RECs) are groups of neighboring countries that collaborate to promote trade, economic growth, and development within their region. By working together, these countries often reduce trade barriers, harmonize regulations, and create shared policies, making it easier to do business across borders. RECs aim to enhance economic integration, improve infrastructure, and increase investment opportunities, ultimately benefiting their citizens. Examples include the European Union (EU), the African Union (AU), and the Association of Southeast Asian Nations (ASEAN). These communities play a crucial role in fostering regional stability and cooperation.