Question：A __________ establishes a free trade area between member states, and also erects common external tariffs to charge on imports from non-member countries.
What is the missing phrase?
A. Common Market
B. Preferential Trade Area
C. Customs Union
D. Free Trade Area
The correct answer is: Customs Union.
A Customs Union promotes free trade among member states while acting as a protectionist bloc against non-member states.
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