The highest level in the pyramid of hierarchy of Preferential Trade Agreements consists of:

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The highest level in the pyramid of hierarchy of Preferential Trade Agreements is an economic union. In an economic union, member countries completely eliminate barriers to trade, harmonize economic policies, and allow for free movement of goods, services, capital, and labor among member countries. The European Union is an example of an economic union.

The Highest Level in the Pyramid of Hierarchy of Preferential