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The common external tariff is a mild form of economic union but may lead to further types of [[economic integration]]. In addition to having the same customs duties, the countries may have other common trade policies, such as having the same quotas, preferences or other non-tariff trade regulations apply to all goods entering the area, regardless of which country, within the area, they are entering.
The main goal of the Custom Unions is to limit external influence, liberalize intra-regional trade, promote economic development and diversification in industrialization in the Community. ▼
Important examples of common external tariff are that of the [[Mercosur]] countries ([[Brazil]], [[Argentina]], [[Venezuela]], [[Paraguay]] and [[Uruguay]]), the Common Customs Tariff of the [[Eurasian Economic Community customs union]] as well as the [[European Union Customs Union]].▼
▲Important examples of common external tariff are that of the [[Mercosur]] countries ([[Brazil]], [[Argentina]], [[Venezuela]], [[Paraguay]] and [[Uruguay]]), the Common Customs Tariff of the [[Eurasian Economic Community customs union]] as well as the [[European Union Customs Union]].
'''<big>STRUCTURE OF CET</big>''' ▼
▲The main goal of the Custom Unions is to limit external influence, liberalize intra-regional trade, promote economic development and diversification in industrialization in the Community.
This is related to the internalization of terms-of-trade effects in the Common External Tariff which has the following Structure as adopted by the ECOWAS Council of Ministers at its 70th ordinary session in June 2013 is as follows <ref>{{Cite web|url=http://www.aidfortrade.ecowas.int/programmes/ecowas-common-external-tariff-cet?cbiekngdjecjecje?gdjmohdjmohdjmgl|title=ECOWAS Common External Tariff|last=|first=|date=|website=|url-status=live|archive-url=|archive-date=|access-date=}}</ref>
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The goods declared to Customs in the Community, must generally be classified according to the CET. Imported and exported goods must be declared stating under type they fall. This determines which rate of customs duty applies and how the goods are treated for statistical purposes.<ref name=":0">{{Cite web|url=https://slideplayer.com/slide/10309238/|title=INTRODUCTION TO THE ECOWAS COMMON EXTERNAL TARIFF ALBERT AKURUGU SENIOR REVENUE OFFICER GRA CUSTOMS DIVISION. - ppt download|website=slideplayer.com|access-date=2020-04-26}}</ref>
'''<big>BENEFITS OF THE CET</big>''' <ref>{{Cite
tariff (cet)
Structure, Benefits, Challenges and the Way Forward of the CET|last=|first=|date=|website=|url-status=live|archive-url=|archive-date=|access-date=}}</ref>
* Increasing the Intra-regional trade: guarantying the availability of more goods to be traded regionally.
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* Casting down smuggling: smuggling is oftenly encouraged by the difference in tariffs, but when a region applies a common tariff, this will remove the necessity of buying smuggled products in regions which previously had high tariffs of the same goods.
'''<big>COSTS OF REGIONAL INTEGRATION</big>'''<ref name=":0" />
* Having a single market ensure a competitive environment for both consumers and markets which make monopolies existence hard. among the consequences of these unique markets is That ineffective companies market share will decrease and it may have to close down.
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