... integration so important. These agreements are designed for all member counties to encourage free trade within their region (Hill, 2004). There are many advantages and disadvantages in regional integration. An advantage is the ability to establish free and open trade. Free trade helps economic growth, produces jobs and offers further opportunities for trade and investment. Free trade lowers the costs of production thereby reducing he price of goods and services. Regional integration also forms larger markets allowing economies of scale, increased competition and foreign investment. Integration also accelerates the opening of economies worldwide, improves the integrity of nation reform, supports unity for international talks, and reduces and/or resolves inter-state disagreements (Hill, 2004). Along with advantages come disadvantages. A disadvantage is the costs associated with regional integration. Another is low cost producers will replace high cost producers and external suppliers offering lower prices will be replaced by those charging higher prices. Finally, ...

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