Main goals and different stages of regional economic integrations. Aims and functions of the European Union compared to other regional economic integrations.

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The integration is a process of gradual rapprochement of economies of two or more countries as a result of removing barriers of the movement of goods and services which does not happen overnight and take several decades to proceed. Within this time the states are gradually moving from entering into Free Trade Agreements establishing free trade area to signing the Treaties elevating the integration to the level of economic or political union. It turns out that the regional integration pursues a goal of gaining important benefits for states’ economic development, improvement of the living conditions of their populations, allows them to pursue their social and political interests and to strengthen their international positions. However, it is needed to note that it has some side effects as mismanagement of resources, the partial loss of national sovereignty and the separation of the integration region from the other world which the states should be aware of in developing the regional integration. In is true to say that in different regions the integration take place in different economic and political conditions making the process, the bodies, the purposes and the functions of integration unique and each region has different problems to move the integration on. Thus, in Asia it is common spread fears that the institutions will eventually bind the member states to give up sovereignty in important policy –making areas. The Eurasian integration in this respect is a recently appeared essence, which need time to become fully efficient. The problem of integration in the Latin America’s region is that the countries of the continent for many years have been suffered from the strong fragmentation due to a number of reasons. African problem concerned the necessity to establish an effective integration able to resolve African problems like extreme poverty, endemic wars, HIV and AIDS, malaria and ebola. Thus, it is needed to point out that today the European Union comparing to the other regional economic integration is the most united and advances integration form as only in the EU, economic integration is complemented by cooperation in the field of justice and internal affairs, in foreign policy and security policy showing the great results and efficiency. Thus, it is for the other regions to gradually move and further develop the integration no matter following the EU model or developing their own specific examples. However, it is important in pursuit of integration not to forget that the main goals of integration is not just to maximize cohesion and to approach the “ideal” of a huge state, but to maximize utility for participants - both for states and for citizens.

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Regional economic integration, European Union, integration
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