An economic union is a type of agreement between countries that allows for the free movement of goods, services, capital, and labor among member states. This arrangement aims to enhance economic cooperation and integration, making it easier for businesses to operate across borders. Examples of economic unions include the European Union and the East African Community. In an economic union, member countries often adopt common policies on trade, agriculture, and transportation. This collaboration can lead to increased economic growth, improved efficiency, and greater competitiveness in the global market. However, it may also require members to give up some degree of sovereignty over their economic policies.