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What is another word for customs union?

Pronunciation: [kˈʌstəmz jˈuːni͡ən] (IPA)

A customs union, also known as a trade bloc, is a group of countries that have agreed to eliminate internal trade barriers such as tariffs and quotas and to establish a common external tariff on goods imported from outside the union. While the term "customs union" is widely used, there are several synonyms that can be used interchangeably. Some of the common synonyms include trade bloc, economic union, common market, and regional integration. Regardless of the term used, a customs union is established to facilitate trade between member countries, reduce transaction costs, and strengthen economic cooperation.
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Synonyms for Customs union:

What are the hypernyms for Customs union?

A hypernym is a word with a broad meaning that encompasses more specific words called hyponyms.

  • hypernyms for customs union (as nouns)

What are the hyponyms for Customs union?

Hyponyms are more specific words categorized under a broader term, known as a hypernym.

  • hyponyms for customs union (as nouns)

Famous quotes with Customs union

  • That's it?' Boamund said. 'Basically, yes,' the hermit replied. 'I've left out Helmut von Moltke and the Peace of Nikolsburg, and maybe I skated over the Benelux customs union a bit, but I think you've got the essentials there. Anything you're not sure about, you can look up in the book.' - c. 1
    Tom Holt

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