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Free trade areas FTAs this is Removal of all trade barriers NAFTA north American free trade agreement, however each member has a different position of trade with non members.
Customs unions same as free trade agreement except there is a common set of rusles that are adopted for non member states.
Common markets- tariifs are removewd and labour and capital are able to move freely, ASEAN
Single markets- this is where almost all trade barriers between the membe states have been removed and common laws are adopted.
Economic union- Common curancy laws and everything between the member states.
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