- An agreement by two or more countries to erect a common external tariff and to abolish restrictions on trade among members. The New York Times Financial Glossary
* * *an agreement between two or more countries to reduce or stop customs duty on goods traded between them:
• There will be a customs union, free trade in goods and services, and free movement of labour, money and capital.
* * *customs union UK US noun [C] ECONOMICS, COMMERCE► an agreement between two or more countries to reduce or remove any taxes on goods traded between them, and to charge the same taxes on goods imported from other countries: agree/form a customs union »
The three countries have formed a customs union to promote trade.
Financial and business terms. 2012.
Look at other dictionaries:
Customs Union — An economic structure whereby states agree to belong to a single tariff aream with no customs duties between them. The EC customs union was largely in place by 1968 … Glossary of the European Union and European Communities
customs union — one of the main ways in which the European Union seeks to achieve a common market. It involves two major steps: (1) the prohibition of customs duties and measures having equivalent effect; (2) the adoption of a common external tariff against the… … Law dictionary
customs union — n. a union of nations that agree to eliminate customs restrictions among members and to follow a common tariff policy toward all other nations … English World dictionary
Customs union — World trade A series on Trade … Wikipedia
customs union — An agreement by two or more countries to erect a common external tariff and to abolish restrictions on trade among members. Bloomberg Financial Dictionary The merger of two or more customs territories with the effect that (Art. XXIV GATT and Art … Financial and business terms
customs union — an association of independent nations or tariff areas created to remove customs barriers between them and to adopt a uniform tariff policy toward nonmember nations. * * * Trade agreement by which a group of countries charges a common set of… … Universalium
Customs Union — The Customs Territories of the European Union ( EU), Turkey, San Marino and Andorra. The unions between the European Union and these countries enable most goods in free circulation to move freely between them without the need to claim import duty … Financial and business terms
customs union — noun an association of nations to promote free trade within the union and set common tariffs for nations that are not members • Hypernyms: ↑union • Hyponyms: ↑Benelux * * * ˈcustoms union 7 [customs union] no … Useful english dictionary
customs union — A union of two or more states to form a region in which there are no import or export duties between members but goods imported into the region bear the same import duties. The European Union is an example … Big dictionary of business and management
customs union — /ˈkʌstəmz junjən/ (say kustuhmz yoohnyuhn) noun an arrangement between independent nations or tariff areas to remove customs barriers between them and to adopt a uniform tariff policy … Australian English dictionary