Customs union
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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.
Purposes for establishing a customs union normally include increasing economic efficiency and establishing closer political and cultural ties between the member countries.
It is the third stage of economic integration.
Customs union is established through trade pact.
Contents |
[edit] List of customs unions
Every Common market and Economic and monetary union has also a Customs Union
Agreements Notified to the GATT/WTO and in Force
| Agreement | Date (in force) | Recent reference |
|---|---|---|
| Central American Common Market (CACM) | 1961-10-12 | WT/REG93/R/B/2 |
| Andean Community (CAN) | 1988-5-25 | L/6737 |
| Caribbean Community (CARICOM) | 1973-8-1 | WT/REG92/R/B/1 |
| Economic and Monetary Community of Central Africa (CEMAC) | 1999-6-24 | WT/COMTD/N/13 |
| East African Community (EAC) | 2000-7-7 | WT/COMTD/N/14 |
| Eurasian Economic Community (EAEC) | 1997-10-8 | WT/REG71/8 |
| European Economic Area (EEA)Needs updating | 1958-1-1 | WT/REG138/2 |
| - EC — Andorra | 1991-7-1 | WT/REG53/M/3 |
| - EC — Turkey | 1996-1-1 | WT/REG22/M/4 |
| Gulf Cooperation Council (GCC) | 2003-1-1 | WT/COMTD/N/25 |
| Southern Common Market (MERCOSUR) | 1991-11-29 | WT/COMTD/1/Add.17 |
| Southern African Customs Union (SACU) | 2004-7-15 | WT/REG231/3 |
| West African Economic and Monetary Union (WAEMU) | 2000-1-1 | WT/COMTD/N/11/Add.1 |
[edit] Proposed
- 2007 Economic Community of West African States (ECOWAS)
- 2008 Common Market for Eastern and Southern Africa (COMESA)
- 2010 Arab Customs Union (ACU)[1]
- 2010 Southern African Development Community (SADC)
- 2011 Economic Community of Central African States (ECCAS)
- 2015 Arab Common Market (ACM)]
- 2019 African Economic Community (AEC)
- Closer Economic Relations (FTA between Australia and New Zealand)
- North American Free Trade Area (NAFTA)
[edit] Defunct
- Customs and Economic Union of Central Africa (UDEAC) - superseded by CEMAC
- 1925 French Customs Union over occupied Saarland
- The former Zollverein
[edit] References
[edit] See also
- The McGill University Faculty of Law runs a Regional Trade Agreements Database that contains the text of almost all preferential and regional trade agreements in the world. ptas.mcgill.ca
- Michael T. Florinsky. 1934. The Saar Struggle. New York: The Macmillan Company.
- List of international trade topics
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