Question

what are the positive and negative impact of Regional Cooperation? (6marks)

Answer 1

Regional integration is a process in which neighboring states enter into an agreement in order to upgrade cooperation through common institutions and rules. Regional Integration is also known as the process by which two or more nation-states agree to cooperate and work closely together to achieve peace, stability and wealth. There are some examples of regional integration that has been established for years. Based on The Logic of Regional Integration’s book written by Walter Mattli, the first major voluntary regional integration initiatives appeared in the nineteenth century. In 1828, for example, Prussia established a customs union with Hesse-Darmstadt. This was followed successively by the Bavaria Wuttemberg customs Union, and etc. Half a century later, the idea of European integration was re-invented and the process of merging European nation-states into one prosperous economy and stable polity began. The first step was taken with the creation of the European Coal and Steel Coummunity (ECSC) in 1952. In 1957, Germany, France, Italy, Belgium, Luxemburg, and the Netherlands signed the Treaty of Rome establishing the European Community (EC). Then, the enlargement of the EC occurred in 1973, with the accession of the United Kingdom, Denmark, and Ireland. Greece joined in 1981, Spaun and Portugal in 1986. Nine years later, Austria, Finland, and Sweden became the community’s newest members. In the meantime, European integration has moved beyond trade. In 1979, the European Monetary System was established. By November 1993, the community had changed its name to the European Union (EU) to mark the deep level of integration