Figure 2
The flowchart shows a vertical sequence of text connected by downward-pointing arrows. From top to bottom, the text reads: “Preferential Trade Area (P T A),” “Free Trade Area (F T A),” “Custom Union,” “Common Market,” “Economic Union,” “Fiscal Union,” “Monetary Union,” and “Complete Economic Integration.”Stages of economic integration. Source: Batool and Javaid (2018, p. 226)