What is it called when multiple nations agree to apply uniform external tariffs, remove tariffs amongst themselves, and allow free movement of labor and capital within the group?

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Explanation

A free trade area removes tariffs between members but does not have common external tariffs. A customs union applies common external tariffs but does not allow free movement of labor and capital. A common market combines a customs union with the free movement of labor and capital among member countries. An economic union goes further by integrating economic policies and institutions.

What is it called when multiple nations agree to app… — Regional Trading Arrangements | PakQuizHub