customs union (Meaning)
Wordnet
customs union (n)
an association of nations to promote free trade within the union and set common tariffs for nations that are not members
Synonyms & Antonyms of customs union
No Synonyms and anytonyms found
customs union Sentence Examples
- A customs union eliminates tariffs and trade barriers among member countries.
- The European Union is an example of a customs union, allowing for the free movement of goods among its member states.
- Joining a customs union can stimulate economic growth by increasing trade and investment opportunities.
- Countries in a customs union coordinate their trade policies and tariffs with external nations.
- The formation of a customs union often requires negotiations and agreements among participating countries.
- A customs union promotes closer economic integration among member states.
- The Southern African Customs Union (SACU) facilitates trade among its member countries in the region.
- A customs union streamlines customs procedures and reduces administrative burdens for businesses.
- Countries outside of a customs union may face higher tariffs and trade restrictions when exporting to member states.
- The establishment of a customs union can foster political cooperation and stability among member nations.
FAQs About the word customs union
an association of nations to promote free trade within the union and set common tariffs for nations that are not members
No synonyms found.
No antonyms found.
A customs union eliminates tariffs and trade barriers among member countries.
The European Union is an example of a customs union, allowing for the free movement of goods among its member states.
Joining a customs union can stimulate economic growth by increasing trade and investment opportunities.
Countries in a customs union coordinate their trade policies and tariffs with external nations.
