What is regional integration in East Africa?
The integration process currently revolves around an array of regional economic communities, including eight recognised as the building blocks of the African Union (AU). The East African Community (EAC) comprised of Burundi, Kenya, Rwanda, South Sudan, Tanzania and Uganda is one of these economic blocs.
What is an example of regional integration?
For example, Canada, Mexico and the United States have formed the North American Free Trade Agreement (NAFTA), which reduces trade barriers between the three countries. At this stage the integrating states set a common external tariff on goods from other countries–this is called a customs union.
What are the four main types of regional integration?
There are four main types of regional economic integration.
- Free trade area. This is the most basic form of economic cooperation.
- Customs union. This type provides for economic cooperation as in a free-trade zone.
- Common market.
- Economic union.
What countries use regional integration?
Regional trade blocs:
- European Union (EU)
- African Union (AU)
- Union of South American Nations (USAN)
- Caribbean Community (CARICOM)
- Central American Integration System (SICA)
- Arab League (AL)
- European Free Trade Association (EFTA)
- Eurasian Economic Community (EAEC)
What are the stages of regional integration?
Specialists in this area define seven stages of economic integration: a preferential trading area, a free trade area, a customs union, a common market, an economic union, an economic and monetary union, and complete economic integration.
What are the challenges of EAC?
Constraints and challenges of the EAC Agriculture sector
- Poor Governance.
- Inadequate legal and regulatory framework.
- Insecurity.
- Inadequate access to productive resources.
- Inadequate participation of local communities.
- Poor physical infrastructure and utilities.
- Weak institutional framework.
- Low public expenditure.
Why are regional countries integrated?
Regional integration helps countries overcome divisions that impede the flow of goods, services, capital, people and ideas. These divisions are a constraint to economic growth, especially in developing countries. The provision of other common public goods (e.g. shared natural resources, security, education).
What are the five different types of economic integration?
Economic integration can be classified into five additive levels, each present in the global landscape:
- Free trade. Tariffs (a tax imposed on imported goods) between member countries are significantly reduced, some abolished altogether.
- Custom union.
- Common market.
- Economic union (single market).
- Political union.
What is Africa integration?
Africa’s integration Agenda is enshrined in the Abuja Treaty (1991), and has an overarching goal of achieving an African Economic Community at continental level, in six successive stages, which include the strengthening of sectoral cooperation and the creation of regional free trade areas, establishment of a …
What are the 5 stages of regional integration?
Terms in this set (5)
- free trade area. A group of countries committed to removing all barriers to the free flow of goods and services between each other, but pursuing independent external trade policies.
- customs union.
- common market.
- economic union.
- political union.
What are the five levels of regional integration?