Encyclopedia

Customs Union


25) customs union - a unified customs territory, which is established on the basis of an international agreement with one or more states or groups of states and replaces two or more customs territories, within which customs duties and other measures restricting foreign trade in goods originating from the unified customs territory are abolished for practically all trade in such goods within this customs territory, except for the possibility of applying such measures in cases provided for by articles 21, 32, 38, and 39 of this Federal law. At the same time, each member of the customs union applies identical customs duties and other measures regulating foreign trade in goods with third countries;

Source: Federal Law No. 164-FZ dated December 8, 2003 (as amended on December 6, 2011) "On the Basics of State Regulation of Foreign Trade Activities"

"customs union" - a form of trade and economic integration among the Parties, providing for a unified customs territory within which customs duties and economic restrictions are not applied in mutual trade of goods originating from the unified customs territory, as well as goods originating from third countries and released for free circulation on this customs territory, except for special protective, anti-dumping, and compensatory measures. At the same time, the Parties apply a uniform customs tariff and other uniform measures for regulating trade with third countries;

Source: "Agreement on the Establishment of a Unified Customs Territory and Formation of a Customs Union" (signed in Dushanbe on 06.10.2007)

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