from The American Heritage® Dictionary of the English Language, 5th Edition.
- noun An international association organized to eliminate customs restrictions on goods exchanged between member nations and to establish a uniform tariff policy toward nonmember nations.
from Wiktionary, Creative Commons Attribution/Share-Alike License.
- noun a type of trade bloc which is composed of a
free trade areawith a common external tariff
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- noun an association of nations to promote free trade within the union and set common tariffs for nations that are not members
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