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BobKilcoyne (talk | contribs) Article mainly covers ECOWAS |
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* The CET would provide durability in trade: traders would be able to make plans with the confidence that the tariff is constant. Policies affecting import tariffs can no longer be changed arbitrarily. This will ensure the attraction of more foreign direct investments.
* The enlargement of domestic market resulting a rise on turnover: this will lead the region to become a single market for imported goods.
* Increase in [[economies of scale]] resulting in the enlargement of internal industries.
* Increased production and productivity: with a large market to satisfy, production opportunities would increase.
* Casting down smuggling: smuggling is often 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.
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