customs union


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Related to customs union: Common Market, Economic union

customs union

the prohibition of customs duties and measures having equivalent effect together with the adoption of a common external tariff against the rest of the world.
References in periodicals archive ?
President of Kazakhstan has ratified the agreement between the Customs Union members on elimination of technical barriers in mutual trade with the Commonwealth of Independent States members.
The report stresses that Turkish industry has integrated with European industry via this customs union, which also subjected the Turkish economy to international criteria, including quality, competitiveness and productivity.
Al Bustani said that the application of the GCC Customs Union since 2003 has positively boosted inter-GCC and foreign trade, and contributed to removing a slew of hindrances facing inter-GCC trade.
The Authority is also assigned to complete the requirements of the GCC Customs Union, and authorize the GCC Financial and Economic Cooperation Committee to adopt its system, aiming at enhancing the cooperation march in the GCC countries, and move from the cooperation phase to the union phase.
"What we have agreed upon, that in the next three years, meaning 2011 to 2014, we should complete all the pending issues in regard to the customs union," UAE Minister of State for Financial Affairs Obaid Humaid al-Tayer told a news conference.
The GCC official told the opening session that achieving economic integration 'requires all concerned committees to accelerate performance and remove the remaining obstacles to the customs union and common market.'
The Jordanian-Egyptian Customs Union will contribute to overcoming challenges facing trade exchange, increasing the level of trade exchange, achieving economic integration and upgrading economic ties between the two countries.
"Perhaps, we need to review the Customs Union agreement altogether.
Suppose that country A initially imposes a non-preferential tariff, T, before a customs union. The price of good X in country A is [P'.sub.1].
As far as Turkey is concerned, the Customs Union cannot be viable in itself as long as Turkey's full EU membership is not taken as read.
When considering the issue of the customs union we first assume that countries 2 and 3 form the union.
Home Secretary Amber Rudd, who was a prominent supporter of Remain in the 2016 referendum, declined to say that the UK was certain to leave the Customs Union when pressed on the issue at a Westminster lunch.