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REGIONAL INTERGRATION AND DEVELOPMENT . Presentation Overview . Define the concept of Regional Integration Outline the current Regional Integration process Compare the current Integration process on three levels (market, economy and political)

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presentation overview
Presentation Overview
  • Define the concept of Regional Integration
  • Outline the current Regional Integration process
  • Compare the current Integration process on three levels (market, economy and political)
  • Limitations and Challenges of the Regional Integration Process
  • Regional Integration and Development
  • Conclusion
defining the concept of regional integration
Defining the concept of Regional Integration
  • Regional integration has been defined as an association of states based upon location in a given geographical area, whose terms are fixed by a treaty or other arrangements.
  • Regional integration initiatives, should fulfill the following functions:
  • the strengthening of trade integration in the region
  • the creation of an appropriate enabling environment for private sector development
  • the development of infrastructure programmes in support of economic growth and regional integration
  • contribution to peace and security in the region
  • the strengthening of the region’s interaction with other regions of the world.
defining the concept of regional integration1
Defining the concept of Regional Integration
  • Economic Integration: the elimination of tariff and nontariff barriers to the flow of goods, services, and factors of production between a group of countries.
  • Market Integration: is where the rules and procedure in the operation of the market is harmonized between a group of countries. Market Integration can take place on a sectorial level e.g. finance.
  • Political Integration: the creation of supranational units among a group of countries duly empowered to strengthen the decision making process.
limitations and challenges of regional integration
Limitations and Challenges of Regional Integration
  • The high degree of economic differentiation among member states, which enormously complicates the task of finding common ground on intra-regional and external policies.
  • Lack of unequivocal political commitment to regionalism among political leaders and lack of leadership on, or champions of, the regional project.
  • Policy incoherence within and among member countries on key economic, social and foreign
  • policy issues (e.g. on the questions of relations with Taiwan vs The People’s Republic of China, Petrocaribe/ALBA, or effective responses to the global financial and economic crisis).
limitations and challenges of regional integration1
Limitations and Challenges of Regional Integration
  • Shifts in the regional, hemispheric and global contexts, including the proliferation of competing regional organisations such as ALBA.
  • Limited regional and national capacity to follow-up and implement decisions and no legal capacity of enforcement.
  • Emergence of new ‘existential threats’ to regional states in the form of climate change, the rising incidence and cost of natural disasters and the impact of proliferating transnational crime.
  • States are more inward looking in relation to development of policies.
regional integration and development
Regional Integration and Development
  • Financial stability
  • Development of a quality assurance framework for the production, packaging of goods and services
  • Increase levels of competitiveness
  • Policy convergence and coordination
  • Promotes good governance
  • Modernization of the legislative framework
  • Creates the enabling environment for businesses to expand and grow
regional integration and development1
Regional Integration and Development
  • Increases regional exports and trade
  • Increases the regions international awareness and voting power
  • Increases the regions ability to access international donor resources
  • Expands national economies and opportunities
conclusion
Conclusion
  • It is for you to determine whether Regional Integration impacts positively or negatively on development in the Caribbean.