International Business Management20805 marksRegional economic integration levels
Mention about customs union and political union.
Mention about customs union and political union. [5]
A customs union builds on the concept of a free trade area but takes integration one step further. It has two key features: - Elimination of tariffs on goods and services traded among member countries (similar to a free trade area). - Common External Tariff (CET): A customs union establishes a co...