A customs and monetary union is a type of trade bloc which is composed of a

customs union 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.GATTArticle 24 s. 8 (a) Customs unions are established through trade pacts where the participant countries set up ...

and a currency union. The participant countries have both common

external trade International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (see: World economy) In most countries, such trade represents a significant ...

policy and share a single

currency A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general def ...

. Customs and monetary union is established through

trade pact A trade agreement (also known as trade pact) is a wide-ranging taxes, tariff and trade treaty that often includes investment guarantees. It exists when two or more countries agree on terms that help them trade with each other. The most common tr ...

List of customs and monetary unions

Economic and Monetary Union of the European Union The economic and monetary union (EMU) of the European Union is a group of policies aimed at converging the economies of member states of the European Union at three stages. There are three stages of the EMU, each of which consists of progr ...

(1999/2002) with the

Euro The euro ( symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . ...

for the

Eurozone The euro area, commonly called eurozone (EZ), is a currency union of 19 member states of the European Union (EU) that have adopted the euro (€) as their primary currency and sole legal tender, and have thus fully implemented EMU policies ...

members ** ''de facto'' San Marino – European UnionWithin the EU customs area and has a monetary agreement with the EU. ** ''de facto'' Andorra – European Union ** ''de facto'' Monaco – European Union * ''de facto'' Switzerland–Liechtenstein * ''de facto'' the OECS Eastern Caribbean Currency Union with the

East Caribbean dollar The Eastern Caribbean dollar (symbol: EC$; code: XCD) is the currency of all seven full members and one associate member of the Organisation of Eastern Caribbean States (OECS). The successor to the British West Indies dollar, it has existed sinc ...

in the

CSME The CARICOM Single Market and Economy, also known as the Caribbean Single Market and Economy (CSME), is an integrated development strategy envisioned at the 10th Meeting of the Conference of Heads of Government of the Caribbean Community (CARICOM ...

(2006) *

Economic and Monetary Community of Central Africa The Economic Community of Central African States (ECCAS; french: Communauté Économique des États de l'Afrique Centrale, CEEAC; es, Comunidad Económica de los Estados de África Central, CEEAC; pt, Comunidade Económica dos Estados da Áfr ...

(CEMAC) * West African Economic and Monetary Union (UEMOA) * ''de facto'' the

Common Monetary Area The Common Monetary Area (CMA) links South Africa, Namibia, Lesotho and Eswatini into a monetary union. It is allied to the Southern African Customs Union (SACU). The main purpose of this trade is that all of the parties can have the same developm ...

(CMA) in the

Southern Africa Customs Union The Southern African Customs Union (SACU) is a customs union among five countries of Southern Africa: Botswana, Eswatini, Lesotho, Namibia and South Africa. Its headquarters are in the Namibian capital, Windhoek. It was established in 1910. His ...

(SACU) Note: Every economic and monetary union has also a customs and monetary union. Additionally the autonomous and

dependent A dependant is a person who relies on another as a primary source of income. A common-law spouse who is financially supported by their partner may also be included in this definition. In some jurisdictions, supporting a dependant may enabl ...

territories, such as some of the EU member state special territories, are sometimes treated as separate customs territory from their mainland state or have varying arrangements of formal or de facto

, common market and currency union (or combinations thereof) with the mainland and in regards to third countries through the

s signed by the mainland state.

Proposed

* 2012

East African Community The East African Community (EAC) is an intergovernmental organisation composed of seven countries in the Great Lakes region of East Africa: the Democratic Republic of the Congo, the United Republic of Tanzania, the Republics of Kenya, Burundi, ...

(EAC) * 2018

Common Market for Eastern and Southern Africa The Common Market for Eastern and Southern Africa (COMESA) is a regional economic community in Africa with twenty-one member states stretching from Tunisia to Eswatini. COMESA was formed in December 1994, replacing a Preferential Trade Area whic ...

(COMESA) * Economic Community of Central African States (ECCAS) * Economic Community of West African States (ECOWAS)Extension of UEMOA customs union to the rest of the ECOWAS members and merger with the WAMZ. *

Gulf Cooperation Council The Cooperation Council for the Arab States of the Gulf ( ar, مجلس التعاون لدول العربية الخليج ), also known as the Gulf Cooperation Council (GCC; ar, مجلس التعاون الخليجي), is a regional, interg ...

* 2023 African Economic Community (AEC)

List of customs and monetary unions

Proposed

Notes

Further reading