Among others, economic integration enables entrepreneurs to take up new business opportunities by cutting red tape and facilitating the flow of transactions. Integration with neighbouring countries can produce economies of scale when competing with other regions in the world and can be one of the ways that countries ensure that the best use is made of the resources, capabilities and abilities within their region.
Economic integration means that individual nations are becoming less important internationally as regional groupings gain in significance, especially when it comes to investment and trade in goods and services.