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Trade Bloc
Trade Bloc

  • A trade bloc is a group of countries (or states, territories, etc) in which trade is made easier between members by removing or reducing tariffs and other barriers to trade.
  • There are 5 types of trade bloc:
    1. Preferential Trade Area
    2. Free Trade Area
    3. Customs Union
    4. Common Market
    5. Economic and Monetary Union (EMU)