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A common market is a customs union with provisions to liberalise movement of regional production facts (people and capital).

Source Publication:
Glossary of Insurance Policy Terms, OECD, Centre for Co-operation with Non-Members, 1999.

Cross References:
Customs union
Economic union
Free trade area
Regional trading arrangement

Statistical Theme: International trade statistics

Created on Thursday, December 6, 2001

Last updated on Friday, April 12, 2013