Economic Community of West African States and Economic integration

Shortcuts: Differences, Similarities, Jaccard Similarity Coefficient, References.

Difference between Economic Community of West African States and Economic integration

Economic Community of West African States vs. Economic integration

The Economic Community of West African States, also known as ECOWAS, is a regional economic union of fifteen countries located in West Africa. Economic integration is the unification of economic policies between different states through the partial or full abolition of tariff and non-tariff restrictions on trade taking place among them prior to their integration.

Similarities between Economic Community of West African States and Economic integration

Economic Community of West African States and Economic integration have 5 things in common (in Unionpedia): Common external tariff, Currency union, Customs union, Economic union, Trade bloc.

Common external tariff

A common external tariff must be introduced when a group of countries forms a customs union.

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Currency union

A currency union (also known as monetary union) involves two or more states sharing the same currency without them necessarily having any further integration (such as an economic and monetary union, which would have, in addition, a customs union and a single market).

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Customs union

A customs union was defined by the General Agreement on Tariffs and Trade as a type of trade bloc which is composed of a free trade area with a common external tariff.

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Economic union

An economic union is a type of trade bloc which is composed of a common market with a customs union.

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Trade bloc

A trade block 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.

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The list above answers the following questions

What Economic Community of West African States and Economic integration have in common
What are the similarities between Economic Community of West African States and Economic integration

Economic Community of West African States and Economic integration Comparison

Economic Community of West African States has 121 relations, while Economic integration has 75. As they have in common 5, the Jaccard index is 2.55% = 5 / (121 + 75).

References

This article shows the relationship between Economic Community of West African States and Economic integration. To access each article from which the information was extracted, please visit:

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