As a prefix "pan-" means "all-".
So "pan-regional" means "from all regions".
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Relating to whole regions , i.e. pan-European,(across Europe)
empires that includes diverse regions
nothing
if the prefix "pan" means "all" or "all members of", then it seems pan-government means all governments or all members of governments ...
Advantages are global influences, a stategic alliance and regional growth opportunities. Disadvatages is possible threats to regional integration and development.