Economic integration refers to the process of combining economic policies and systems among different countries or regions. It involves the removal or reduction of barriers to trade, investment, and movement of goods, services, capital, and labor between participating economies. The primary objective of economic integration is to promote greater economic cooperation and collaboration, leading to increased efficiency, growth, and welfare for the participating countries. There are various forms of economic integration, ranging from preferential trade agreements to deeper forms such as customs unions, common markets, and economic and monetary unions. Each form involves different levels of integration and entails specific commitments and obligations. Economic integration offers several potential benefits. It allows participating countries to expand their markets, access a larger consumer base, and exploit economies of scale, leading to increased trade, productivity, and specialization. It fosters competition, encouraging businesses to become more efficient and innovative. Additionally, economic integration can attract foreign direct investment, boost employment opportunities, and facilitate the transfer of technology and knowledge across borders. However, economic integration also presents challenges. It requires harmonizing and aligning policies, regulations, and standards across participating economies, which can be complex and time-consuming. It may result in winners and losers within economies, as certain industries may face increased competition or displacement. Economic integration can also create interdependencies among participating countries, making them vulnerable to economic shocks and crises that affect one or more members. Overall, economic integration is a dynamic process that seeks to deepen economic ties and foster mutual benefits among participating countries. It is driven by the desire to enhance economic efficiency, competitiveness, and overall welfare, while acknowledging the need for careful planning, coordination, and safeguards to address potential challenges and ensure inclusive growth.

1. Economic Integration:
Customs unions and
free trade areas.
Submitted to :
Fatema Akter Jeni
Assistant professor.
Noakhali Science And Technology University.

2. Our full team
MD. Abu Baker Siddqu
ASH1810059M
Md.Golam Kibriya
ASH1910047M
Md. Asaha Dullah
ASH1910037M
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3. What is Economic Integration?
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Economic integration, or
regional integration, is an
agreement among nations to
reduce or eliminate trade
barriers and agree on fiscal
policies.

4. Levels of Economic Integration

5. Customs Union
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Customs unions are groups of countries
that apply one common system of
procedures, rules and tariffs for all or
almost all their imports, exports and
transiting goods.

6. Free Trade Area
 Area in which a group of countries agrees for mutual free trade
 Trade without trade barriers among a group of countries
 Different policies towards the rest of the world
 Tariff may be imposed for the trade with other countries
 For eg: ASEAN, North American Free Trade Agreement (NAFTA)
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7. European Union (EU)
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 The European Union is a
supranational political and economic
union of 27 member states that are
located primarily in Europe.
 The aims of the European Union
within its borders are: promote
peace, its values and the well-being
of its citizens. offer freedom, security
and justice without internal borders.

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The aims and values of EU
 To promote Peace.
 To offer EU citizen freedom security and justice.
 Sustainable development of Europe.
 Two established an economic union.
 To contribute sustainable development peace And
security of the world.
The treaty of Lisbon
 Human dignity.
 Freedom.
 Democracy.
 Equity
 Rule of Law.
 Human rights.
EU

9. North American Free Trade Agreement
(NAFTA)
 NAFTA was a trilateral trade agreement between Canada,
Mexico, and the United States.
 NAFTA came into effect on January 1, 1994.
o Goals of NAFTA
i. Eliminate barriers to trade and investment among the
member countries.
ii. Increase market access for businesses and expand
opportunities for workers and consumers.
iii. Boost economic growth and enhance economic efficiency.
iv. Protect intellectual property rights.
v. Establish dispute resolution mechanisms.
vi. Promote cooperation on labor and environmental issues.
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10. The South Asian Free Trade Area
(SAFTA)
 SAFTA promote and enhance mutual trade and
economic cooperation among the Contracting States.
SAFTA
 SAARC established in 1985.
 In 1993, SAARC preferential trade agreement was
signed. SAPTA.
 To promote mutual trade and economics.
Cooperation through exchange concession.
 9th, SAARC submit in May, 1997. Decision was
taken convert SAARC into SAFTA.
 SAFTA entry into force on 1st Jan, 2006.
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11. The main purposes of SAFTA
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 To eliminate trade barriers.
 To promote fair competition in free trade areas.
 Considering effective mechanism for Resolution of
Dispute.
 To bring transparency and integrity among the
nation.
 To provide equal benefit.
 To provide special preference to the least developed
countries. (LDC,s)

12. Association of Southeast Asian Nations
(ASEAN)
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• ASEAN is a regional grouping that aims to
promote economic and security cooperation
among its ten members.
• Founded: August 8, 1967, Bangkok, Thailand
• Headquarters: Jakarta, Indonesia

13. Fundamental principle :
 Mutual respect of national identity of all nation.
 Non-interference in the internal affairs of one
another.
 Dispute settlement in a peaceful manner.
 Effective cooperation among themselves
Association of Southeast Asian
Nations (ASEAN)
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The purpose of the ASEAN
 To accelerate economic growth,
Social progress and cultural
development in region.
 To promote regional peace and
sustainability towards avoiding
Relationship among countries.

14. Thank you
Abusiddqu.nstu@gmail.com