Customs union

Customs union

A group of countries that adopt free trade (zero tariffs and no other restrictions on trade) on trade among themselves, and that also, on each product, agree to levy the same tariff on imports from outside the group. Equivalent to an FTA plus a common external tariff.

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Part of Speech: noun
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Industry/Domain: Economy
Category: International economics
Company: University of Michigan
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customs union

Economy; International trade

Members apply a common external tariff (e.g. the European Union).

customs union

Economy; International economics

A group of countries that adopt free trade (zero tariffs and no other restrictions on trade) on trade among themselves, and that also, on each product, agree to levy the same ...

customs union

Agriculture; Agricultural programs & laws

An agreement between two or more countries to remove trade barriers between each other and to establish common tariff and nontariff policies with respect to other countries. The ...

customs union

Financial services; General Finance

An agreement by two or more countries to erect a common external tariff and to abolish restrictions on trade among members.

Southern African Customs Union (SACU)

Economy; International trade

An African customs union comprising Botswana, Lesotho, Namibia, South Africa and Swaziland.

Customs

Economy; International trade

The authorities designated to collect duties levied by a country on imports and exports. The term also applies to the procedures involved in such collection.

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Geuro

Economy; International economics

To rebuild Greece economy some European economists recommend to launch a new currency for Greece. They call it Geuro.

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Industry/Domain: Geography Category: Cities & towns

Dongguan

Dongguan (Chinese: 东莞; pinyin: Dōngguǎn) is a prefecture-level city in central Guangdong province, People's Republic of China. An important industrial ...