Customs Union
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Customs Union
A customs union is generally defined as a type of trade bloc A trade bloc is a type of intergovernmental agreement, often part of a regional intergovernmental organization An intergovernmental organization (IGO) is an organization composed primarily of sovereign states (referred to as ''member states'') ... which is composed of a free trade area A free-trade area is the region encompassing a trade bloc whose member countries have signed a free trade agreementA free trade agreement (FTA) or treaty A treaty is a formal legally binding written agreement between actors in international l ... with a common external tariff A common external tariff A tariff is a tax imposed by a government A government is the system or group of people governing an organized community, generally a State (polity), state. In the case of its broad associative definition, g ....GATTArticle 24 s. 8 (a) Customs unions are established through trade pact A trade agreement (also kno ...
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European Economic Community Customs Union
The European Union Customs Union (EUCU) formally known as the Community Customs Union is a customs union A customs union is generally defined as a type of trade bloc A trade bloc is a type of intergovernmental agreement, often part of a regional intergovernmental organization An intergovernmental organization (IGO) is an organization composed ... which consists of all the member states of the European Union The European Union The European Union (EU) is a political and economic union of member states that are located primarily in Europe Europe is a which is also recognised as part of , located entirely in the and mostly in the . ... (EU), Monaco Monaco (; ), officially the Principality of Monaco (french: Principauté de Monaco; Monégasque Ligurian: ''Prinçipatu de Mu̍negu''), is a sovereign Sovereign is a title which can be applied to the highest leader in various categories. The ..., and the British Overseas Territory The Bri ...
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