What is the difference between a Free Trade Are... - SS3 Economics Types of Economic Integration Question
What is the difference between a Free Trade Area (FTA) and a Customs Union?
A Free Trade Area (FTA) involves the removal of tariffs and trade barriers between member countries while maintaining their own external trade policies, whereas a Customs Union involves the removal of trade barriers between member countries and the adoption of a common external trade policy with other countries or regions.
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