What Is The European Union Summary? Summary. The European Union (EU) is a unified organization of 27 member states, with authority over their political, economic, and social policies. The EU aims to ensure peace, encourage free trade, and tailor policies to work towards the benefit of its members. What is the main purpose of the
What Is The Main Difference Between A Free Trade Area And A Customs Union? in a free trade area, barriers to trade among member countries are removed, but each country determines its own external trade policy. In a customs union, barriers to trade among member countries are removed, and a common external trade policy is
What Is The Main Difference Between A Customs Union And A Free Trade Area? The difference between the two is that in a customs union, the participating countries set a common customs tariff (a single external tariff applied by all members) against third countries, while in an FTA, they do not. What is the difference