<P> Regional integration arrangements are a part and parcel of the present global economic order and this trend is now an acknowledged future of the international scene . It has achieved a new meaning and new significance . Regional integration arrangements are mainly the outcome of necessity felt by nation - states to integrate their economies in order to achieve rapid economic development, decrease conflict, and build mutual trusts between the integrated units . The nation - state system, which has been the predominant pattern of international relations since the Peace of Westphalia in 1648 is evolving towards a system in which regional groupings of states is becoming increasingly important vis - a-vis sovereign states . Some have argued that the idea of the state and its sovereignty has been made irrelevant by processes that are taking place at both the global and local level . Walter Lippmann believes that, "the true constituent members of the international order of the future are communities of states ." E.H. Carr shares Lippmann view about the rise of regionalism and regional arrangements and commented that, "the concept of sovereignty is likely to become in the future even more blurred and indistinct than it is at present ." </P> <P> Regional integration agreements (RIAs) have led to major developments in international relations between and among many countries, specifically increases in international trade and investment and in the formation of regional trading blocs . As fundamental to the multi-faceted process of globalization, regional integration has been a major development in the international relations of recent years . As such, Regional Integration Agreements has gained high importance . Not only are almost all the industrial nations part of such agreements, but also a huge number of developing nations too are a part of at least one, and in cases, more than one such agreement . </P> <P> The amount of trade that takes place within the scope of such agreements is about 35%, which accounts to more than one - third of the trade in the world . The main objective of these agreements is to reduce trade barriers among those nations concerned, but the structure may vary from one agreement to another . The removal of the trade barriers or liberalization of many economies has had multiple impacts, in some cases increasing Gross domestic product (GDP), but also resulting in greater global inequality, concentration of wealth and an increasing frequency and intensity of economic crises . </P> <P> The number of agreements agreed under the rules of the GATT and the WTO and signed in each year has dramatically increased since the 1990s . There were 194 agreements ratified in 1999 and it contained 94 agreements form the early 1990s . </P>

Of the following which is not a benefit of regional integration