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Natural resources management, particularly in the extractives industry, can make a meaningful contribution to a country’s economic growth when it leads to linkages to the broader economy. Benefits of Regional Economic Integration. Regional integration is a process in which neighboring states enter into an agreement in order to upgrade … a. Stakeholder Analysis of Regional Integration 26 b. National-Regional Dynamics in the Integration Process 29 c. Key Issues and Actors 30 3. The phenomenon of regional integration. Caribbean integration, the nature of the region, and the events which preceded and followed it. With more resources the regions can compete globally. The first movement toward integration, the West Indian Federation began in 1958, but subsequently failed in 1960. However, as part of the Fund's new Medium-Term Strategy, we have strengthened our emphasis on regional surveillance, bringing our analysis and policy advice to bear on issues of regional importance. This short-lived attempt at regional integration unfortunately collapsed before any real development could be made. Regional economic integration refers to the agreement amongst countries within a certain geographic area for reducing and ultimately removing tariff barriers, making sure there is better flow of services or goods through the respective nations. Regional integration is essential here as well, since goods, services and people need to be able to flow seamlessly across borders to reduce costs and to help firms become competitive enough to link to these value chains. The setting for Caribbean integration The Commonwealth Caribbean extends from Guyana on the northeast coast of South America to Belize in Central America.6 In between, stretching over thousands Education plays a key role in the Caribbean The Caribbean Single Market Economy identifies university graduates as a group of persons eligible for free movement among CARICOM states. The main theme running through the idea of regional integration is co-operation. Benefits Of Regional Economic Integration. April 1, 2011, Harri Daniel, 1 Comment. Regional integration is so important for resource-driven diversification in Africa. It was created from the signing of the treaty of Chaguaramas in 1973 and the subsequent adherence of all the member countries of the Caribbean Free Trade Association (CARIFTA) and the Caribbean Community and Common Market (Axline, 2000, par.1). The reincarnation of this motion, however, occurred in 1973, 15 years after the West Indian Federation, in the form of The Caribbean Community, CARICOM, with much of … Give TWO reasons why Caribbean countries should continue to support regional integration. Regional integration within the Caribbean has taken on many perspectives, namely political, economical and social. Review of Existing Donor Support 36 b. Aligning Donor and Stakeholder Interests 38 4. In your essay, identify TWO cultural factors that promote Caribbean integration and TWO geographical factors that can hinder integration. One benefit to regional integration in the Caribbean is the fact that the regions will have more resources. Therefore in order to fully understand and appreciate the importance of these efforts at integration, , a review at all levels is important. An educated workforce will be crucial to the development of the region in an era where a vibrant knowledge economy is the success indicator for countries worldwide. The Caribbean integration movement is the first example of a free trade area moving to a custom union. The deeper integration of regional markets through the elimination of non-tariff barriers can reduce trade and operating costs. RECOMMENDATIONS 39 a. Overview of Main Recommendations 39 THE ROLE OF DONORS IN CARIBBEAN REGIONAL INTEGRATION 36 a. 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