regional trade

Regional trade refers to the exchange of goods and services between countries within a specific geographic area, such as a continent or a set of neighboring countries. It involves reducing barriers like tariffs and import restrictions to promote easier and more efficient commerce. This regional cooperation aims to boost economic growth, create jobs, and strengthen political ties among member countries. Examples include trade agreements like the European Union or the Association of Southeast Asian Nations (ASEAN), which facilitate smooth trade flows and economic integration among member nations.