customs union - definition in the Business English Dictionary - Cambridge Dictionaries Online

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English definition of “customs union”

customs union

noun [C]
 
 
ECONOMICS, COMMERCE
an agreement between two or more countries to reduce or remove any taxes on goods traded between them, and to charge the same taxes on goods imported from other countries: agree/form a customs union The three countries have formed a customs union to promote trade.
(Definition of customs union from the Cambridge Business English Dictionary © Cambridge University Press)
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