题目内容
If Chile and Mexico abolish all tariffs on each other's products while maintaining their own tariffs against other countries, these two countreis have formed a customs union.
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Withapreferentialtradingarrangement,agroupofcountriesagreestounilaterallyreducetariffsappliedtoimportsfromallcountriesoftheworld.
Economicintegrationistheprocessofeliminatingrestrictionsoninternationaltrade,payments,andfactormobility.
When a group of countries establish a free-trade area, they achieve the highest stage of economic integration.
Afree-trade area is an association of trading countries whose members agree to remove all trade restrictions among themselves, while each member country imposes identical trade restrictions against nonmember countries.
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