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References in periodicals archive ?
The agreement aims at eliminating technical barriers in mutual trade between the members of the Customs Union and the Commonwealth of Independent States that are not members of the Customs Union.
Evidence shows that Turkey's foreign trade volume has expanded and Turkey has become an attractive destination for foreign investment because of the customs union. I believe Turkey is unable to attain economic development by reliance on its own domestic dynamics without the EU membership process.
"The vision of the GCC leaders has contributed to building a global economic bloc aimed at reaching economic integration through establishing a customs union between the GCC countries in the first stage, and establishing a common GCC market later on," Al Bustani elaborated.
Al Khiliwi also said that the internal system of the Customs Union's Authority will include special tasks for the transition phase.
The introduction of the customs union in 2003 had been hailed as a major achievement countering criticism that the Gulf Arab bloc would be unable to realize economic integration in the world's top oil exporting region.
In September, the GCC decided to postpone implementation of the customs union in the face of disagreement over the sharing of tariff revenues and problems meeting WTO rules.
"Whether we like it or not, Customs Union agreement is an engagement accepted by Turkey," Bagis said, stating that the sacrifices that could be made by Turkey or the points it would demand should be determined beforehand, if the agreement would be amended.
Next, suppose that country A joins a customs union with country B.
Customs unions are usually analysed by comparing a particular customs union equilibrium with some arbitrarily given tariff equilibrium.
Her comments came as MPs debated a backbench motion calling on the Government to establish a customs union with the EU after Brexit.
The debate comes after the Prime Minister suffered a setback on the issue with an overwhelming defeat in the Lords and with a looming crunch vote on a customs union in the Commons.