An economic and monetary union is a single market with a common currency. International trade is exchange of Capital, Goods, and Services across International borders or Territories. The history of international trade chronicles notable events that have affected the Trade between various countries Fair trade is an organized Social movement and market-based approach to empowering developing country producers and promoting sustainability Free trade is a system in which the trade of goods and services between or within countries flows unhindered by government-imposed restrictions For the protectionist Australian political party from the 1880s to 1909 see Protectionist Party Economic integration is a term used to describe how different aspects between economies are integrated A Preferential Trade Area is a Trading bloc which gives preferential access to certain products from the participating countries See also List of free trade agreements This is article is on free international trade A customs union is a Free trade area with a Common external tariff. A trade pact is a wide ranging Tax tariff and trade pact that often includes Investment guarantees A trade bloc is a large Free trade area formed by one or more Tax tariff and trade agreements Trade creation is an Economic term related to International economics in which Trade is created by the formation of a Customs union. Trade diversion is an Economic term related to International economics in which Trade is diverted from a more efficient exporter towards a less efficient It is to be distinguished from a mere currency union (e. In economics a monetary union is a situation where several countries have agreed to share a single currency (also known as a unitary or common currency g. the Latin Monetary Union in the 1800s), which does not involve a single market. The Latin Monetary Union ( LMU) was a 19th century attempt to unify several European currencies into a single currency that could be

This is the fifth stage of economic integration. Economic integration is a term used to describe how different aspects between economies are integrated

EMU is established through a currency-related trade pact. A trade pact is a wide ranging Tax tariff and trade pact that often includes Investment guarantees

List of Economic and Monetary Unions

Current

• The largest economic and monetary union at present is the Eurozone. Euro Enlargement of the The Eurozone consists of the European Union member states that have completed the third stage of the EMU by adopting the Euro. A Member State of the European Union is any one of the twenty-seven sovereign Nation states that have acceded the European Union (EU since its De facto In economics a Monetary union is a situation where several countries have agreed to share a single currency amongst themselves Please update other articles as well to avoid contradiction within Wikipedia e Some non-EU members have also adopted the Euro, but they are not part of this EMU. Euro Enlargement of the Please update other articles as well to avoid contradiction within Wikipedia e In economics a Monetary union is a situation where several countries have agreed to share a single currency amongst themselves See also the Benelux union of Belgium, the Netherlands and Luxembourg which pre-dates the European Union and continues to exist alongside it. The Benelux is an economic union in Western Europe that includes three neighboring monarchies, '''Be'''lgium, the '''Ne'''therlands, and

Proposed

• Economic and monetary union of the Caribbean Community
• Economic and monetary union of the Economic Community of West African States (ECOWAS)
• Economic and monetary union of the East African Community (EAC), due in 2009
• Economic and monetary union of the Gulf Cooperation Council (GCC), due in 2010
• Economic and monetary union of the Southern African Development Community (SADC), due in 2016
• Economic and monetary union of the Union of South American Nations (Unasul), due in 2019
• Economic and monetary union of the African Economic Community (AEC), due in 2028

Defunct

• The Belgium-Luxembourg Economic Union has been in place since 1921, though it has largely been subsumed by Benelux and the Eurozone. The Caribbean Community ( CARICOM) is an organization of Caribbean nations and dependencies The Economic Community of West African States ( ECOWAS) is a regional group of fifteen West African countries founded on May 28 The East African Community ( EAC) is an intergovernmental organisation comprising five east African countries The Cooperation Council for the Arab States of the Gulf ( CCASG; مجلس التعاون لدول الخليج العربية also known as the Gulf Cooperation Council The Southern African Development Community ( SADC) is an Inter-governmental organization. __FORCETOC__The Union of South American Nations (Unión de Naciones Suramericanas - UNASUR, União de Nações Sul-Americanas - UNASUL, Unie van Zuid-Amerikaanse Naties The African Economic Community (abbreviated AEC) is an organization of African Union states establishing grounds for mutual economic development among the majority The Belgium-Luxembourg Economic Union (Belgisch-Luxemburgse Economische Unie Union économique belgo-luxembourgeoise, Belsch-Lëtzebuerger Wirtschaftsunioun abbreviated to Year 1921 ( MCMXXI) was a Common year starting on Saturday (link will display full 1921 calendar of the Gregorian calendar The Benelux is an economic union in Western Europe that includes three neighboring monarchies, '''Be'''lgium, the '''Ne'''therlands, and Euro Enlargement of the

See also

• Monetary Union (Currency Union)
• United Nations Monetary and Financial Conference (Bretton Woods)

External links

• Economic and Monetary Union, EMU – on the euabc.com website