In: Economics
Find an article relating to Regional Economic Integration give a brief summary in your own words. Do you agree or disagree with the article?
Article: Economic integration is helping boost trade and investment in Africa
In the physical world, integration between and even within
countries has happened at a much slower pace. At too many borders,
goods still hang around and wait needlessly, raising costs and
hurting business competitiveness.
For every success there is a graveyard of stalled or stunted
regional initiatives to remove barriers to trade and investment.
Building trade blocs with neighbouring countries can help small
countries to get access to ports. Reforming archaic tariff
structures, changing inherited and restrictive laws, identifying
and confronting non-tariff barriers, and facilitating trade at the
border: this is the oil that greases the wheels of trade within
regions, and indeed with the rest of the world. Small and
medium-sized enterprises, which in most economies account for over
95% of businesses and the vast majority of all jobs, must be able
to tap into to regional trade and investment.
I Agree with the article It offers a unique opportunity to harness innovation and global integration for sustainable and inclusive growth in Africa for governments, the private sector and development partners.