A customs union is the most fully integrated form of regional cooperation.

Question

Quizplus · Accepted Answer

A customs union involves the removal of tariff barriers between members and the adoption of a common external tariff against non-members, but it is not the most fully integrated form of regional cooperation. Economic unions or monetary unions represent higher levels of integration, including common policies on product regulation, freedom of movement for goods and services, capital, and labor, and in some cases, a common currency.

A Customs Union Is the Most Fully Integrated Form of Regional