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Part III World Trade Law and Regional Trade Agreements, XXIII The Regional Integration of Markets

From: Principles of International Economic Law (1st Edition)

Matthias Herdegen

A newer edition of Principles of International Economic Law is available. Latest edition (2 ed.)
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Content type:
Book content
Product:
Oxford Scholarly Authorities on International Law [OSAIL]
Published in print:
01 January 2013
ISBN:
9780199579860

From: Oxford Public International Law (http://opil.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 27 September 2023

Subject(s):
NAFTA (North American Free Trade Agreement) — Standards of treatment — Tariffs — Regional organizations
The basis of all forms of regional or bilateral economic integration is the elimination or progressive reduction of tariffs and of other trade restrictions between the contracting States. The elimination of such ‘internal barriers’ to the trade between the Member States characterizes the elementary type of regional economic integration: the free trade area or free trade zone. A more advanced form is the customs union. Whilst the free trade area merely eliminates tariffs in between Members, the customs union additionally establishes a single external tariff for...
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