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Economic Integration
Economic Integration
An economic arrangement between different regions marked by the reduction or elimination of trade barriers and the coordination of monetary and fiscal policies. The aim of economic integration is to reduce costs for both consumers and producers, as well as to increase trade between the countries taking part in the agreement. Read more: http://www.investopedia.com/terms/e/economic-integration.asp#ixzz1ilUyeTBn
Definition
The elimination of tariff and nontariff barriers to the flow ofgoods, services, and factors of production between a groupof nations, or different parts of the same nation.