what are benefits of economic integration 
economic integration can increase trade benefiting both producers consumers and involved countries for instance with the elimination of trade barriers a firm may be able to produce and sell more products earning more revenue and increasing their home country s gross domestic product gdp for customers in other countries they can count on having more product selection and potentially lower costs as well the bottom lineeconomic integration is a form of coordination between different states in which barriers to trade are eliminated and fiscal and monetary policies are harmonized these arrangements can lead to increased economic activity job creation and stronger political ties they may also come with drawbacks such as trade diversion and loss of national sovereignty the eu is a well known example of regional economic integration as it is comprised of 27 member states 20 of which use the same currency 