European Union Customs Union in the context of "Common Commercial Policy (EU)"

The European Union (EU) is a supranational political and economic union of 27 member states that are located primarily in Europe. The Union has a total area of 4,233,255 km (1,634,469 sq mi) and an estimated population of more than 450 million as of 2025. The EU is often described as a sui generis political entity combining characteristics of both a federation and a confederation.

Containing 5.5% of the world population in 2023, EU member states generated a nominal gross domestic product (GDP) of around €17.935 trillion in 2024, accounting for approximately one sixth of global economic output. Its cornerstone, the Customs Union, paved the way to establishing an internal single market based on standardised legal framework and legislation that applies in all member states in those matters, and only those matters, where the states have agreed to act as one. EU policies aim to ensure the free movement of people, goods, services and capital within the internal market; enact legislation in justice and home affairs; and maintain common policies on trade, agriculture, fisheries, and regional development.

The European Free Trade Association (EFTA) is a regional trade organisation and free trade area consisting of four European states: Iceland, Liechtenstein, Norway and Switzerland. The organisation operates in parallel with the European Union (EU), and all four member states participate in the European single market and are part of the Schengen Area. They are not, however, party to the European Union Customs Union.

EFTA was historically one of the two dominant western European trade blocs, but is now much smaller and closely associated with its historical competitor, the European Union. It was established on 3 May 1960 to serve as an alternative trade bloc for those European states that were unable or unwilling to join the then European Economic Community (EEC), the main predecessor of the EU. The Stockholm Convention (1960), to establish the EFTA, was signed on 4 January 1960 in the Swedish capital by seven countries (known as the "Outer Seven": Austria, Denmark, Norway, Portugal, Sweden, Switzerland and the United Kingdom). A revised Convention, the Vaduz Convention, was signed on 21 June 2001 and entered into force on 1 June 2002.

A free trade area is the region encompassing a trade bloc whose member countries have signed a free trade agreement (FTA). Such agreements involve cooperation between at least two countries to reduce trade barriers, import quotas and tariffs, and to increase trade of goods and services with each other. If natural persons are also free to move between the countries, in addition to a free trade agreement, it would also be considered an open border. It can be considered the second stage of economic integration.

Customs unions are a special type of free trade area. All such areas have internal arrangements which parties conclude in order to liberalize and facilitate trade among themselves. The crucial difference between customs unions and free trade areas is their approach to third parties. While a customs union requires all parties to establish and maintain identical external tariffs with regard to trade with non-parties, parties to a free trade area are not subject to this requirement. Instead, they may establish and maintain whatever tariff regime applying to imports from non-parties as deemed necessary. In a free trade area without harmonized external tariffs, to eliminate the risk of trade deflection, parties will adopt a system of preferential rules of origin.

Martinique (/ˌmɑːrtɪˈniːk/ MAR-tin-EEK [maʁtinik] ; Martinican Creole: Matinik or Matnik; Kalinago: Madinina or Madiana) is an island in the Lesser Antilles of the West Indies, in the eastern Caribbean Sea. It was previously known as Iguanacaera which translates to 'Iguana Island' in Kari'nja. A part of the French West Indies (Antilles), Martinique is an overseas department and region and a single territorial collectivity of France.

It is a part of the European Union as an outermost region within the special territories of members of the European Economic Area, and an associate member of the CARICOM, the Organization of Eastern Caribbean States (OECS), the Association of Caribbean States (ACS), and the Economic Commission for Latin America and the Caribbean (ECLAC) but is not part of the Schengen Area or the European Union Customs Union. The currency in use is the euro. It has been a UNESCO Biosphere Reserve since 2021 for its entire land and sea territory. In September 2023, the volcanoes and forests of Mount Pelée and the peaks of northern Martinique, in particular the Pitons du Carbet, were listed as UNESCO World Heritage Sites.

Turkey has an emerging free-market economy. It ranked as the 16th-largest in the world and 7th-largest in Europe by nominal GDP in 2025. It also ranked as the 11th-largest in the world and 5th-largest in Europe by PPP in 2025. Turkey's rapid economic growth since the 2000s was stranded by the economic crisis in 2018, but it began to recover in 2021. Turkey's USD-based nominal GDP per capita and GDP-PPP per capita have eventually reached their all-time peak values in 2024.

Turkey is a founding member of the OECD and G20. Ratified in 1995, the European Union–Turkey Customs Union has established a free trade area between Turkey and the European Union, which has increased bilateral foreign trade, investment and economic activity.