THE INFLUENCE OF REGIONAL ECONOMIC INTEGRATION IN THE DEVOLOPMENT OF GLOBALIZATION
THE INFLUENCE OF REGIONAL ECONOMIC INTEGRATION IN THE DEVOLOPMENT OF GLOBALIZATION

Summary/Abstract: Regional economic integration is an agreement on cooperation in the economic sphere between two or more states. When we say economic cooperation activities, we mean all forms of economic activities and ways that the member countries can achieve. Lately in the framework of this cooperation there is an expansion and deepening of a large number of shapes and economic activities. Within these economic activities we distinguish the following: the trade of member countries, the flow of foreign direct investments, services in various fields, the system of standards and intellectual property standards, giving and receiving credit, franshizm, licensing, harmonization of trade policies, tax harmonization, strategic alliances and joint ventures, the harmonization of legislative policy, international rules, etc. The Regional economic integration is organized at different levels. Each level is distinguished from each other, the level of the highest ranking includes something more than the previous one. In general term, these regional economic integration levels are known as: free trade area, customs union, the common market, economic union and political union. The main reasons why countries are grouped in the REI are two: economic nature and political nature. Liberalization of international trade and development is one of the main determinants of globalization. Almost all economists agree that the economic growth of countries depends on opening oftheir national economy to the global economy.

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