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RUSSIAN FEDERATION and CUSTOMS UNION  Form

RUSSIAN FEDERATION and CUSTOMS UNION Form

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we're going to spend a couple of minutes just focusing on the idea of a customs Union as part of our study of of trade and aspects of of globalization so a customs Union is essentially an agreement between two or more countries and that involves uh two parts first of all they agree to abolish import tariffs import quots other trade barriers so essentially they're trying to create a free trade area within the Customs un goods and services can move freely within the area but secondly and this is where a customs Union is different from a free trade area these countries agree to introduce impose a common external import tariff on goods and services coming in from non-member countries in the case of the EU for example whilst the UK is still a member until 2019 that the Tariff on imported South Korean giant TV screens will be the same as a percentage in the UK as the import tariff on South crew and TV screens coming into Germany a common external tariff there could be and oft

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