Notes>International Economics>3.4 Economic Integration

Definitions   Economic integration is a process where countries coordinate and link their economic policies. This leads to a decrease in trade barriers between the countries, with their fiscal and monetary policies becoming more closely harmonized. Trading blocs...

Preferential Trade Agreements These give preferential access to certain products from certain countries by reducing or eliminating tariffs, or by other agreements relating to trade. Basically they involve agreements to improve trade liberalisation between countries....