Customs union

• Customs union - Wikipedia, the free encyclopedia

  tags: Economics

  • A customs union is a type of trade bloc which is composed of 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.
  • Every Economic union, Customs and monetary union and Economic and monetary union has also a Customs Union