Type of trade bloc with a free trade area and common external tariff
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A customs union is generally defined as a type of trade bloc which is composed of a free trade area with a common external tariff.[1]
Customs unions are established through trade pacts where the participant countries set up common external trade policy (in some cases they use different import quotas). Common competition policy is also helpful to avoid competition deficiency.[2]
Purposes for establishing a customs union normally include increasing economic efficiency and establishing closer political and cultural ties between the member countries. It is the third stage of economic integration.
Every economic union, customs and monetary union and economic and monetary union includes a customs union.
^GATT, Article 24, s. 8 (a)
^Winters, Alan L (1991). International Economics, Volume IV. Routledge. pp. 528 pages. ISBN 9780203028384.
The Southern African CustomsUnion (SACU) is a customsunion among five countries of Southern Africa: Botswana, Eswatini, Lesotho, Namibia and South Africa...
also have a blue channel. As the EU is a customsunion, travellers between EU countries do not have to pay customs duties. Value-added tax (VAT) and excise...
The CustomsUnion of the Eurasian Economic Union (Russian: Таможенный союз Евразийского экономического союза) or EAEU CustomsUnion (Russian: Таможенный...
The Zollverein (pronounced [ˈtsɔlfɛɐ̯ˌʔaɪn]), or German CustomsUnion, was a coalition of German states formed to manage tariffs and economic policies...
according to the United Nations Development Programme. Its cornerstone, the CustomsUnion, paved the way to establishing an internal single market based on standardised...
The Arab CustomsUnion is a customsunion announced at the Arab League's 2009 Arab Economic and Social Development Summit in Kuwait in order to achieve...
A customs and monetary union is a type of trade bloc which is composed of a customsunion and a currency union. The participant countries have both common...
An economic union is a type of trade bloc which is composed of a common market with a customsunion. The participant countries have both common policies...
of each country's name and was first used to name the customs agreement that initiated the union (signed in 1944). It is now used more generally to refer...
was the Zollverein, a customsunion formed by the treaties of 1833, with Prussia being the primary driver behind the customsunion. Although it was formally...
responsible for taxation and CustomsUnion matters. The European UnionCustomsUnion regulates trade in the EU. The European Customs Information Portal is an...
free movement of some goods via its membership in the European Union–Turkey CustomsUnion. The United Kingdom left the European single market on 31 December...
with the EU; none, however, are in the EU CustomsUnion. The present enlargement agenda of the European Union regards three distinct groups of states:...
The Southern Africa CustomsUnion and Mozambique (SACUM) is a customsunion and trading bloc comprising the countries Botswana, Eswatini, Lesotho, Namibia...
All form part of the European Unioncustoms area; however, some fall outside of the Schengen Area and the European Union Value Added Tax Area. Seven Outermost...
through harmonious cooperation". The Customs and Economic Union of Central Africa (or UDEAC from its name in French, Union Douanière et Économique de l’Afrique...
economic and monetary union, which would have, in addition, a customsunion and a single market). There are three types of currency unions: Informal – unilateral...
linguistic unity. Economically, the creation of the Prussian Zollverein (customsunion) in 1818, and its subsequent expansion to include other states of the...
and Financial Affairs, Taxation and Customs. Until 2014 the post was named Commissioner for Taxation and CustomsUnion, Audit and Anti-Fraud and was previously...
Agreements on Customs Valuation and Rules of Origin. On 23 August 1947 the Committee for European Economic Cooperation created a European CustomsUnion Study...
territory. Customs territories may fall into several types: A sovereign state, including a federation A trade bloc that has a customsunion An autonomous...
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