Question

write a short note on custom unions

Answer 1

Hey ..

Here is ur ans ...

When countries outside the union trade with countries in the customs union, they need to make a single payment (duty fee) for the goods that have crossed the border.

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Customs unions offer the following benefits:

Increase in trade flows and economic integration. ...

1. Trade creation and trade diversion. ...

2. Reduces trade deflection.

3. Customs Union - Definition

thank u. ..