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Encyclopedia > Customs union
Trade Series
International trade
History of international trade
Trade bloc
Free trade area
Customs union
Trade creation
Trade diversion
Monetary union
Common market
Economic and monetary union

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. International trade is the exchange of goods and services across international boundaries or territories. ... The history of international trade chronicles the way that the flow of trade over long distances has shaped, and been shaped by history. ... A trade bloc is a large free trade area or free trade area formed by one or more tax, tariff and trade agreements. ... A free trade area is a designated group of countries that have agreed to eliminate tariffs, quotas and preferences on most (if not all) goods between them. ... Trade creation is an economic term related to international economics in which trade is created by the formation of a customs union. ... Trade diversion is an economic term related to international economics in which trade is diverted by the formation of a customs union. ... In economics, a monetary union is a situation where several countries have agreed to share a single currency among them, for example, the East Caribbean Dollar. ... A single market is a customs union with common policies on product regulation, and freedom of movement of all the four factors of production (goods, services, capital and labour). ... This article covers the general information on the topic. ... A free trade area is a designated group of countries that have agreed to eliminate tariffs, quotas and preferences on most (if not all) goods between them. ... When a goup of countries form a customs union they must introduce a common external tariff. ... International trade is the exchange of goods and services across international boundaries or territories. ... A policy is a plan of action to guide decisions and actions. ... A quota is a prescribed number or share of something. ... Competition is the act of striving against another force for the purpose of achieving dominance or attaining a reward or goal, or out of a biological imperative such as survival. ...


Purposes for establishing a customs union normally include increasing economic efficiency and establishing closer political and cultural ties between the member countries. There are several measures of economic efficiency: Pareto efficiency Kaldor-Hicks efficiency X-efficiency Allocative efficiency For applications of these principles see: Efficient market hypothesis Welfare economics Production theory basics See also Business efficiency Inefficiency ...


It is the third stage of economic integration. Economic integration is a term used to describe how different aspects between economies are integrated. ...


Customs union is established through trade pact. A trade pact is a wide ranging tax, tariff and trade pact that usually also includes investment guarantees. ...

Contents


List of Customs Unions

Every Common market and Economic and monetary union has also a Customs Union The European Community (EC), most important of three European Communities, was originally founded on March 25, 1957 by the signing of the Treaty of Rome under the name of European Economic Community. ... This article covers the general information on the topic. ...

States of SACU // Origins The Southern African Customs Union (SACU) came into existence on December 11, 1969 with the signature of the Customs Union Agreement between South Africa, Botswana, Lesotho, Namibia and Swaziland. ... EAC The three states that make up the East African Community The East African Community (EAC) is a customs union in East Africa, consisting of Kenya, Uganda and Tanzania. ... ... Mercosur or Mercosul (Spanish: Mercado Común del Sur, Portuguese: Mercado Comum do Sul, English: Southern Common Market) is a customs union between Brazil, Argentina, Uruguay, Paraguay and Venezuela, founded in 1991 by the Treaty of Asunción, which was later amended and updated by the 1994 Treaty of Ouro... On 31 December 1995 the customs union between Turkey and the European Union came into effect. ... The European Union has a number of relationships with nations that are not formally part of the Union. ... The European Union has a number of relationships with nations that are not formally part of the Union. ... States of CEMAC The Economic and Monetary Community of Central Africa (or CEMAC from its name in French, Communauté Économique et Monétaire de lAfrique Centrale) is an organization of states of Central Africa established to promote economic integration among countries that share a common currency, the CFA franc. ... States of UEMOA The West African Economic and Monetary Union (or UEMOA from its name in French, Union économique et monétaire ouest-africaine) is an organization of states of West Africa established to promote economic integration among countries that share a common currency, the CFA franc. ... States of CAN The Andean Community of Nations (in Spanish: Comunidad Andina de Naciones, abbreviated CAN) is a trade bloc comprising the South American countries of Bolivia, Colombia, Ecuador, Peru and Venezuela. ... The West Bank map The Gaza Strip map Palestinian territories is one of a number of terms used to describe, from Arab point of view, areas captured by Israel in the Six-day War of 1967, whose political status has been the subject of negotiations between Israel and the Palestine... 1994 (MCMXCIV) was a common year starting on Saturday of the Gregorian calendar, and was designated as the International Year of the Family and the International Year of the Sport and the Olympic Ideal. // Events January Bill Clinton January 1 : North American Free Trade Agreement (NAFTA) goes into effect. ... 1924 (MCMXXIV) was a leap year starting on Tuesday (link will take you to calendar). ...

Proposed

The Economic Community of West African States (ECOWAS) is a regional group of fifteen countries, founded on May 28, 1975 when fifteen West African countries signed the Treaty of Lagos. ... The Common Market for Eastern and Southern Africa, is a free trade area with twenty one member states stretching from Egypt to Namibia. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... The Economic Community of Central African States (ECCAS), in French Communauté Économique des États dAfrique Centrale (CEEAC), is a organisation for promotion of regional economic co-operation in Central Africa. ...  members of AEC pillar blocs  states signatories to the AEC Treaty, but not participating in any of the pillars The member states of the African Union are mounting efforts to collaborate economically, but they are impeded by the civil wars raging in several parts of Africa. ... Flag of EurAsEC The Eurasian Economic Community (EurAsEC or EAEC) was put into motion on 10 October 2000 when Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan signed the treaty. ...  GUAM members  Former GUAM members  The rest of the CIS GUAM (Cyrillic: ГУАМ, Geo. ...

Defunct

States of UDEAC The Customs and Economic Union of Central Africa (or UDEAC from its name in French, Union Douaniere et Économique de l’Afrique Centrale), established by the Brazzaville Treaty in 1966, formed a customs union with free trade area between members and a common external tariff for imports... States of CEMAC The Economic and Monetary Community of Central Africa (or CEMAC from its name in French, Communauté Économique et Monétaire de lAfrique Centrale) is an organization of states of Central Africa established to promote economic integration among countries that share a common currency, the CFA franc. ... Headquarters Minsk, Belarus Member states 11 member states 1 associate member Working language Russian Executive Secretary Vladimir Rushailo Formation December 21, 1991 Official website http://cis. ... Flag of EurAsEC The Eurasian Economic Community (EurAsEC or EAEC) was put into motion on 10 October 2000 when Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan signed the treaty. ... 1925 (MCMXXV) was a common year starting on Thursday (link will take you to calendar). ... Saarland is one of the 16 states of Germany. ... Zollverein (German for customs union) was formed between the 38 states of the German Confederation in 1834 during the Industrial Revolution to create a better trade flow and reduce internal competition. ...

See also

International trade - an overview Absolute advantage Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPs) APEC Autarky Balance of trade barter Bilateral Investment Treaty (BIT) Bimetallism branch plant Bretton Woods Conference Bretton Woods system British timber trade Cash crop Comparative advantage Continental trading bloc Cost, insurance and freight Currency...

References

  • Michael T. Florinsky. 1934. The Saar Struggle. New York: The Macmillan Company.

  Results from FactBites:
 
Customs Union Now (The Nation, July 12, 1941) (84 words)
The creation of the political Union of South Africa in 1909 was preceded by the formation of a customs union.
An Anglo-American customs union would be a turning-point in world history.
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Customs union - Wikipedia, the free encyclopedia (228 words)
A customs union is a free trade area with a Common External Tariff.
Purposes for establishing a customs union normally include increasing economic efficiency and establishing closer political and cultural ties between the member countries.
Customs and Economic Union of Central Africa (UDEAC) - superseded by CEMAC
  More results at FactBites »

 
 

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