Among the following, which is/are attempt(s) of economic integration among developing countries?

Correct option is D

Correct Answer: (D)
Explanation:
Economic integration refers to the process by which countries reduce trade barriers and coordinate monetary and fiscal policies to enhance economic cooperation and interdependence. In the case of developing countries, regional integration plays a vital role in accelerating development, reducing poverty, and increasing competitiveness.
Information Booster
1. Central American Common Market (CACM): Formed in 1960, CACM is a trade organization of Central American nations aiming at economic integration and common tariffs. It was an early attempt by developing Central American countries to form a regional economic bloc.
2. Caribbean Free Trade Association (CARIFTA): Established in 1965 and later replaced by the Caribbean Community (CARICOM) in 1973, CARIFTA promoted free trade among Caribbean developing nations. It was a stepping-stone toward deeper regional integration in the Caribbean.
3. Latin American Free Trade Association (LAFTA): Established in 1960 under the Montevideo Treaty, LAFTA aimed to gradually establish a common market among Latin American countries. It was later replaced by the Latin American Integration Association (LAIA) in 1980.
All three are significant attempts by developing countries to integrate economically by promoting trade, investment, and economic collaboration within their regions.