A "Single Economic Space" refers to a unified market where goods, services, capital, and labor can move freely among member countries. This concept aims to enhance economic cooperation and integration, allowing for more efficient trade and investment. By reducing barriers, such as tariffs and regulations, participating nations can benefit from increased economic growth and competitiveness. Countries that adopt a Single Economic Space often work together to harmonize their economic policies and standards. This collaboration can lead to improved infrastructure, shared resources, and better access to markets. Examples of such arrangements include the Eurasian Economic Union and the European Union.