QUESTION
‘Several developing countries have joined one regional integration group or another with the hope of addressing common problems in a collective and coordinated manner. One objective has been the enhancement of growth and development through a collective effort. Regional economic cooperation has been considered as a means of promoting increased intra-regional trade and economies of scale by pooling small and fragmented domestic markets to support industrialization strategies'. Discuss in the light of the benefits and costs arising from the establishment of regional initiatives.