Explain the different forms of 'regional economic groupings' giving suitable examples

Regional economic groupings, also known as regional integration or economic blocs, are alliances formed by countries within a specific geographic region to promote economic cooperation and integration. These groupings aim to facilitate trade, investment, and economic development among member countries. There are several forms of regional economic groupings, each with its unique characteristics and objectives. Here are some of the key forms, along with suitable examples:

1. Free Trade Area (FTA):
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