common external trade policy
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A common
commercial policy A commercial policy (also referred to as a trade policy or international trade policy) is a government's policy governing international trade International trade is the exchange of capital Capital most commonly refers to: * Capital lette ...
is several states coordinating some or all aspects of their trade policy. It is sometimes agreed by treaty within 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 ...

customs union
. In the case of 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 . It comprises the wester ...

European Union
, a form of the
EU's common commercial policy The European Union's (EU) Common Commercial Policy or EU Trade Policy is the policy whereby EU member states delegate authority to the European Commission to negotiate their external trade relations, with the aim of increasing trade amongst themselv ...
has been in place since 1957. A common commercial policy is also an aim of Mercosur.


References

Commercial policy Economic integration International economics {{international-trade-stub