Regional Economic Integration in South Africa

Regional Economic Integration in South Africa

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Regional economic integration (REI) is the partnerships among different countries within a specific region with the aim of developing a given area. The partnership entails integrating the economies of the different areas of various nations. Also referred to regional trade block, and their main aim is to eliminate or reduce multiple trade barriers among the countries that are participating. It is an agreement that is usually between various nations to take advantage of the available market opportunities as well as the promotion of economic stability and growth (Krapohl and Johannes 880). The concept of regional economic integration emerged from the comparative advantage approach in the international trade as well as the interests of those economists that were liberal. They aimed at promoting tariff and nontariff barriers reduction in trade, and these are referred to the significant ingredients of regional economic integration. It also focuses on initiating movements of goods and services that are free………

 APA 1232 words