Term
| Regional economic integration |
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Definition
| The growing economic interdependence that results when two or more countries within a geographic region form an alliance aimed at reducing barriers to trade and investment |
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Term
| Regional economic integration bloc |
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Definition
| A geographic are consisting of two or more countries that have agreed to pursue economic integration by reducing barriers to the cross-border flow of products, services, capital, and, in more advanced states, labor |
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Term
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Definition
| A formal arrangement between two or more countries to reduce or eliminate tariffs, quotas, and barriers to trade in products and services |
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Term
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Definition
| A stage of regional integration in which member countries agree to eliminate tariffs and other barriers to trade in products and services within the bloc |
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Term
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Definition
| A stage of regional integration in which the member countries agree to adopt common tariff and nontariff barriers on imports from nonmember countries |
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Term
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Definition
| A stage of regional integration in which trade barriers are reduced or removed, common external barriers are established, and products, services, and factors of production are allowed to move freely among the member countries |
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Term
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Definition
| A stage of regional integration in which member countries enjoy all the advantages of early stages, but also strive to have common fiscal and monetary policies. |
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