The merger of two or more customs territories with the effect that (Art. XXIV GATT and Art. 23 EC Treaty) customs duties and non-tariff barriers are eliminated between the members of the union for substantially all trade, and a common customs tariff and common rules for non-tariff barriers are introduced for substantially all trade with non-member countries.
A group of nations which have eliminated trade barriers amongst themselves and have created a common external commercial policy in respect of all other countries. A customs union forms the basis for a common market which seeks to further liberalize trade.
A customs union is a group of countries among which goods pass free of trade barriers but which also adopts a common external tariff regime. As such, the EC is a customs union, but NAFTA is a free-trade area because the external trade barriers of Canada, Mexico and the US were not harmonized.
an association of nations to promote free trade within the union and set common tariffs for nations that are not members
a deeper stage in integration as compared with a free trade area
a form of economic integration in which all tariffs among member countries are eliminated and a common trade policy toward non-member countries is established
a free trade zone with a Common External Tariff
a group of countries that eliminate all tariffs on trade among themselves but maintain a common external tariff on trade with countries outside the union (thus technically violating MFN)
an indispensable prerequisite" for talks on a free trade deal between the EU and the region, she added
a stage or form of integration in which, in addition to free trade between member countries, a Common External Tariff-CET is applied to trade with third countries
group of nations that agree to eliminate trade barriers among themselves and adopt a unified system of external trade barriers.
A group of nations that have eliminated tariffs and sometimes other barriers that impede trade with each other, while maintaining a common external tariff on goods imported from outside the union. The Common Market of the European Community is the best known example. GATT Article XXIV defines the meaning of a customs union in GATT and the application of other GATT provisions to customs unions. See also: Common External Tariff, European Community, Free Trade Area, Kyoto Convention, Trade Diversion, Welfare
An alliance of a number of countries that agree to remove customs and excise controls on goods and services that pass among them.
An agreement between two or more countries in which they arrange to abolish tariffs and other import restrictions on each other's goods and establish a common tariff for the imports of all other countries.
A customs union is a free trade area with a common external tariff. The participant countries set up common external trade policy, but in some cases they use different import quotas. Common competition policy is also helpful to avoid competition deficiency.
