The term 'economic integration' is specifically mean to refer to either regional economic
integration or international economic integration. Whereas international economic integration is
synonymous with globalisation, regional economic integration limits economic integration to a particular
region. So, “Regional economic integration is an agreement among countries in a geographic region to
reduce and ultimately remove tariff and non-tariff barriers to the free flow of goods or services and factors
of production among each others”. In theory, regional economic integration benefits all members. Over the
last 20 years, the number of regional trade agreements has been on the rise. It can be also refers as any type
of arrangement in which countries agree to coordinate their trade, fiscal, and/or monetary policies are
referred to as economic integration. Obviously, there are five different levels of integration as follows