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What is regional integration?
Is the unification of a number of nation states into a single unit where they cooperate functionally, economically and politically.
What is the aim of regional integration? (Purpose)
- provide economic and social benefits
- more efficient use of resources
-less duplication of effort and expenditure
- more powerful voice and trading stance on the global stage
-improving health standards
-providing improved education facilities
-developing human resources
-overcome some of the challenges facing the region
-address some of the consequences of the unevenness if resources distribution
-helping businesses to thrive through policies of free trade, free movement of labour and tariff reduction or elimination
What are some of the major challenges facing the Caribbean?
-Small populations
-Lack of diversification
-Low value exports;high cost imports
-Shortage of capital
-Vulnerability to natural disasters
-Low levels of production
-High level of debt burden
-Low productivity
-Unemployment and underemployment
-shortage of skilled workers
-difficulty in accessing developed country markers
-under developed human resources
-unequal resource distribution
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