Definition, Meaning & Synonyms

economic-bloc

Noun

/ɪˈkɒnəmɪk blɒk/

Definition

A group of countries or regions that collaborate to promote economic integration and cooperation among their members.

Examples

The European Union is a prominent economic-bloc that facilitates trade among its members.
Countries in the ASEAN economic-bloc work together to boost regional economic growth.

Meaning

An economic-bloc is formed to enhance trade and investment opportunities between its member countries, often reducing tariffs and other trade barriers.