Definition of Economic integration:
Economic integration is sometimes referred to as regional integration as it often occurs among neighboring nations.
The elimination of tariff and nontariff barriers to the flow of goods, services, and factors of production between a group of nations, or different parts of the same nation.
Economic integration is an arrangement among nations that typically includes the reduction or elimination of trade barriers and the coordination of monetary and fiscal policies. Economic integration aims to reduce costs for both consumers and producers and to increase trade between the countries involved in the agreement.
How to use Economic integration in a sentence?
- The UN meeting was centered around Economic Integration . They wanted to eliminate tariffs and other barries so that imports and exports could flow easier between countries and improve economies.
- I really liked the fact that there would be a lot of economic integration going on between the nations coming up in the next couple of weeks.
- Economic integration, or regional integration, is an agreement among nations to reduce or eliminate trade barriers and agree on fiscal policies.
- You should familiarize yourself with any barriers so that you can find out if you are dealing with an economic integration .
- The European Union, for example, represents a complete economic integration.
- Strict nationalists may oppose economic integration due to concerns over a loss of sovereignty.
Meaning of Economic integration & Economic integration Definition