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customs union

   Also found in: Financial, Encyclopedia, Wikipedia, Hutchinson 0.04 sec.
customs union
n.
An international association organized to eliminate customs restrictions on goods exchanged between member nations and to establish a uniform tariff policy toward nonmember nations.
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.customs union - an association of nations to promote free trade within the union and set common tariffs for nations that are not members
union - a political unit formed from previously independent people or organizations; "the Soviet Union"
Benelux - a customs union comprising Belgium and Netherlands and Luxembourg

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And the Gulf region as a whole is doing its best to offset the historical lack of intraregional trade through the creation of a customs union and various regional economic committees.
This customs union agreement, which Turkey signed back in 1995, requires that it be updated to include all new EU members since.
Between 1990, the year before Mercosur was created, and 1995, the first year its customs union took effect, intra-Mercosur exports increased by an average 26% a year.
 
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