Intraregional Trade: This is the exchange of goods, services, and capital within one region.
Mercantilism: An economic theory that advocates for maximizing exports and minimizing imports for an economy. It was prevalent during colonial times when colonies were expected to supply raw materials to the mother country.
Trade Barriers: These are measures that governments or public authorities introduce to make imported goods or services less competitive than locally produced goods and services. They can include tariffs, quotas or regulations.