Advantages and Implications of Regional Integration
-
7.7 Understand and explain the advantages and implications of regional integration.
Regional integration is the most popular form of reciprocal trade liberalization. In pursuing regional integration, nations seek at least four advantages:44
Expand Market Size
Regional integration greatly increases the scale of the marketplace for firms inside the economic bloc. For example, although Belgium has a population of just 10 million, membership in the EU gives Belgian firms free access to a total market of nearly 500 million EU buyers.
Get International Business: The New Realities, 5th Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
