Custom union and Common market

Customs union and common market are two different forms of economic integration among countries. Here are the key differences between them:

1. Primary Purpose:

   • Customs Union: The primary purpose of a customs union is to eliminate internal tariffs and trade barriers among member countries while maintaining a common external trade policy. Member countries agree to charge a common external tariff on imports from non-member countries.
   • Common Market: A common market goes a step further than a customs union. In addition to eliminating internal tariffs and trade barriers, it also allows for the free movement of goods, services, capital, and labor among member countries, essentially creating a single economic market.
   ___ _________ ____ _________ ______ ________ _________ ________.
   __________ ______ ________ ______ _______ ______ ______ _______ ___ _______ ________ ____.
   _________ __________ _____ ______ ______.
   __________ ________ ____ __________ _____ _____ ____ _____ ____.
   ___ _____ ________ ____ ______ ______ ______ ______ ________ ________ _____.
   ______ ________ ____ _____ _______ __________ ______ ______ ______ ______ ______ __________.
   _________ ______ _____ ______ ________.
   _______ _______ _________ __________ _________ ________ _____ _____ ____ ___.
   _______ __________ ______ _____ __________ __________ _________ ________ ____ _______ _____.
   ________ __________ ____ ______ _________ ____ _________ __________ ____ _______ ____.
   __________ _______ __________ ___ ____ _______ _______.
   ________ ______ _______ _______ _________ _________ ____.
   _____ __________ ____ _____ ______ ________ _________ ____ ____ __________.
   _______ ___ _______ ____ _____ ____ _______.
   _____ ______ ______ _____ _________ _______.
   ____ ________ __________ ____ ________ _________ _______ ________ _________.
   ________ _______ ____ ___ ___.
   __________ _____ ________ _____ _________ ______ ________ ______ ____ ___ ______ ____.
   ______ _______ ______ ___ ________ __________ __________.
   _______ _________ _____ _________ ________ ____ ________ _____ __________ ___ _____ _________.
   _______ _______ _________ _______ _______ _____ ___.
   __________ _______ ________ ____ ________ ___ _____ ______ ____ ____ ______ ________.
   ___ ___ ____ __________ __________.
   ________ _________ ________ ________ __________ _______ _________.
   ____ _________ ________ _____ ______ ____ ____ _________ ___ __________.
   ________ _______ _________ ________ ______ _____ ________ _____ _____ ______ _______.
   ___ __________ _______ ______ _______ ____ ___ ___ _____ ________ ______ _________.
   __________ ___ ___ ______ _____ ________ ____.
   ______ ________ _________ ________ _________ ___ _____ ________ _________ _______ _____ ___.
   ____ ______ _________ ______ __________ _____ _________ ________ _____.
   ________ ______ _____ _______ _________ ___.
   _______ _______ ___ ________ ___ _______ __________ _______.
   ________ ______ _______ ______ _________ ______.
   ___ ______ __________ _____ ________.
   ____ _____ ___ _____ ____.
   _______ ______ __________ ______ _____ _______ ___.
   ________ ______ _________ _____ _________.
   ____ _____ _______ ______ __________ ______ ____.
   ___ _________ ___ ___ ___ ____ ____ _________ _______ _____.
   _________ ___ ______ _______ ____ _________ __________ _______ ____ ____.
   _________.
   Get Full Answer on WhatsApp