regional trade associations

Regional trade associations are organizations that bring together countries within a specific geographic area to promote economic cooperation and integration. They aim to facilitate trade by reducing tariffs, harmonizing regulations, and improving transportation and communication links among member nations, fostering economic growth and stability. Examples include the European Union and ASEAN. These associations help member countries work together on common issues, create larger markets, and attract investment, ultimately strengthening the region’s economic resilience and global competitiveness.