A customs and monetary union is a type of

trade bloc A trade bloc is a type of intergovernmental agreement, often part of a regional intergovernmental organization, where barriers to trade (tariffs and others) are reduced or eliminated among the participating states. Trade blocs can be stand-alone ...

which is composed of a

customs union A customs union is generally defined as a type of trade bloc which is composed of a free trade area with a common external tariff.GATTArticle 24 s. 8 (a) Customs unions are established through trade pacts where the participant countries set up ...

and a

currency union A currency union (also known as monetary union) is an intergovernmental agreement that involves two or more states sharing the same currency. These states may not necessarily have any further integration (such as an economic and monetary union, ...

. The participant countries have both common

external trade International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (see: World economy) In most countries, such trade represents a significant ...

policy and share a single

currency A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general ...

. Customs and monetary union is established through

trade pact A trade agreement (also known as trade pact) is a wide-ranging taxes, tariff and trade treaty that often includes investment guarantees. It exists when two or more countries agree on terms that help them trade with each other. The most common tr ...

List of customs and monetary unions

* Economic and Monetary Union of the European Union (1999/2002) with the

Euro The euro ( symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . ...

for the

Eurozone The euro area, commonly called eurozone (EZ), is a currency union of 19 member states of the European Union (EU) that have adopted the euro ( €) as their primary currency and sole legal tender, and have thus fully implemented EMU polici ...

members ** ''de facto'' San Marino – European UnionWithin the EU customs area and has a monetary agreement with the EU. ** ''de facto'' Andorra – European Union ** ''de facto'' Monaco – European Union * ''de facto'' Switzerland–Liechtenstein * ''de facto'' the OECS

Eastern Caribbean Currency Union The Eastern Caribbean Currency Union (ECCU) is a development of the Organization of Eastern Caribbean States. This organization is composed of Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, and S ...

with the

East Caribbean dollar The Eastern Caribbean dollar ( symbol: EC$; code: XCD) is the currency of all seven full members and one associate member of the Organisation of Eastern Caribbean States (OECS). The successor to the British West Indies dollar, it has existed s ...

in the CSME (2006) *

Economic and Monetary Community of Central Africa The Economic Community of Central African States (ECCAS; french: Communauté Économique des États de l'Afrique Centrale, CEEAC; es, Comunidad Económica de los Estados de África Central, CEEAC; pt, Comunidade Económica dos Estados da Áfr ...

(CEMAC) *

West African Economic and Monetary Union The Economic Community of West African States (ECOWAS; also known as in French and Portuguese) is a regional political and economic union of fifteen countries located in West Africa. Collectively, these countries comprise an area of , and in ...

(UEMOA) * ''de facto'' the

Common Monetary Area The Common Monetary Area (CMA) links South Africa, Namibia, Lesotho and Eswatini into a monetary union. It is allied to the Southern African Customs Union (SACU). The main purpose of this trade is that all of the parties can have the same developm ...

(CMA) in the

Southern Africa Customs Union The Southern African Customs Union (SACU) is a customs union among five countries of Southern Africa: Botswana, Eswatini, Lesotho, Namibia and South Africa. Its headquarters are in the Namibian capital, Windhoek. It was established in 1910. His ...

(SACU) Note: Every

economic and monetary union An economic and monetary union (EMU) is a type of trade bloc that features a combination of a common market, customs union, and monetary union. Established via a trade pact, an EMU constitutes the sixth of seven stages in the process of economic ...

has also a customs and monetary union. Additionally the

autonomous In developmental psychology and moral, political, and bioethical philosophy, autonomy, from , ''autonomos'', from αὐτο- ''auto-'' "self" and νόμος ''nomos'', "law", hence when combined understood to mean "one who gives oneself one's ow ...

and

dependent A dependant is a person who relies on another as a primary source of income. A common-law spouse who is financially supported by their partner may also be included in this definition. In some jurisdictions, supporting a dependant may enabl ...

territories, such as some of the EU member state special territories, are sometimes treated as separate

customs territory A customs territory is a geographic territory with uniform customs regulations and there are no internal customs or similar taxes within the territory. Customs territories may fall into several types: * A sovereign state, including a federation * A ...

from their mainland state or have varying arrangements of formal or de facto

common market The European Economic Community (EEC) was a regional organization created by the Treaty of Rome of 1957,Today the largely rewritten treaty continues in force as the ''Treaty on the functioning of the European Union'', as renamed by the Lisbo ...

and

(or combinations thereof) with the mainland and in regards to third countries through the

s signed by the mainland state.

Proposed

* 2012

East African Community The East African Community (EAC) is an intergovernmental organisation composed of seven countries in the Great Lakes region of East Africa: the Democratic Republic of the Congo, the United Republic of Tanzania, the Republics of Kenya, Burun ...

(EAC) * 2018 Common Market for Eastern and Southern Africa (COMESA) *

Economic Community of Central African States The Economic Community of Central African States (ECCAS; french: Communauté Économique des États de l'Afrique Centrale, CEEAC; es, Comunidad Económica de los Estados de África Central, CEEAC; pt, Comunidade Económica dos Estados da Áfr ...

(ECCAS) *

Economic Community of West African States The Economic Community of West African States (ECOWAS; also known as in French and Portuguese) is a regional political and economic union of fifteen countries located in West Africa. Collectively, these countries comprise an area of , and in ...

(ECOWAS)Extension of UEMOA customs union to the rest of the ECOWAS members and merger with the

WAMZ WAMZ (97.5 FM) is a country music-formatted radio station located in Louisville, Kentucky. The station broadcasts with an ERP of 100 kW. The station's studios are located in the central part of Watterson Park and the transmitter site is ...

. *

Gulf Cooperation Council The Cooperation Council for the Arab States of the Gulf ( ar, مجلس التعاون لدول العربية الخليج ), also known as the Gulf Cooperation Council (GCC; ar, مجلس التعاون الخليجي), is a regional, interg ...

* 2023

African Economic Community The African Economic Community (AEC) is an organization of African Union states establishing grounds for mutual economic development among the majority of African states. The stated goals of the organization include the creation of free trade ...

(AEC)

List of customs and monetary unions

Proposed

Notes

Further reading