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The Peace and prosperity of countries lay in the establishment and strengthening of regional economic organisations. Justify this statement.

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Regional economic organisations have largely emerged as alternative institutions to accelerate the process of economic growth and to bring about peace and stability in the region. The following points justify the same:
a. The above statement can aptly be explained by analysing the role of regional organisations like the Organisation for European Economic Cooperation, which was established after the Second World War with an aim to bring about greater economic integration in Europe. It gradually evolved into the European Union in 1992 and sought to play an increasingly political role by laying the foundation for a common foreign and security policy.The European Union has helped in maintaining peace and prosperity in the region by identifying certain common principles and norms adhered by the member states. It has established certain rules and regulations for its member states. In case of any conflict in the region, the EU has played a proactive role in mediating the conflict among the member states. Being a part of the regional organisation makes it obligatory for member states to establish peace in the region.
b. We may also cite the example of the ASEAN, which was primarily established to bring about economic growth. The ASEAN has developed and broadened its role by establishing the ASEAN Community and the ASEAN Regional Forum, which aims at resolving territorial disputes through concerted efforts and peaceful negotiations. It is based on the principles of cooperation, respect for each other’s territorial integrity, neutrality, etc.
c. Member states, thus, must strive to strengthen these organisations, must collectively realise their potentialities and strengths in bringing about greater economic, political and diplomatic influence. In addition, these organisations serve as the common forum for the member countries to voice their concerns.
d. A significant fact about regional organisations is that the member countries are settled under one roof, have annual meetings and enter into treaties and agreements, which allows them to settle disputes by cooperation rather than getting involved in conflicts. Therefore, it is essential for countries to develop regional organisations in order to develop themselves.
e. Furthermore, greater trade and economic cooperation mitigates the chances of conflict among the member states, as their stability and prosperity are interlinked.

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