Explanation

(i) Creation of a common market. 
(ii) Economic co-operation and growth e.g promotion of joint ventures
(iii) Raising the standard of living of the citizens. 
(iv) Increasing the rate of industrialization (v) Promotion of economic stability. 
(vi) Integration of both fiscal and monetary policies (vii) Political stability 
(viii) Fostering close relationship among member countries. 
(ix) Encouraging freedom of movement of people and factors of production
(x) Presenting a common front towards non-member nations.

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