An agreement between two countries to maintain a free trade area, a common external tariff,free mobility of capital and labour and some degree of unification in government policies and monetary policy is called
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An agreement between two countries to maintain a free trade area, a common external tariff, free mobility of capital and labour and some degree of unification in government policies and monetary policy is called MoU.
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The agreement for the free trade area with memorandum of understanding over the mobility of labor and capital with the unification up to a certain level of degree with policy of government and monetary policy is known as the Economic Union.
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An Union of economy is the trade area which constitutes the common market place with the customs of union with the free trade area and with the merchandise for the common market where the external tariff for the free mobility of labor for the capital.
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