An economic community is a group of countries or regions that collaborate to enhance their economic performance through shared policies and practices. This collaboration often includes trade agreements, common markets, and coordinated economic strategies, allowing members to benefit from increased trade and investment opportunities. Members of an economic community typically work together to reduce tariffs and other trade barriers, making it easier for goods and services to flow between them. Examples of economic communities include the European Union and the Association of Southeast Asian Nations (ASEAN), which aim to promote economic growth and stability among their member states.