/ˌiː.kəˈnɒm.ɪk ˈjuː.njən/ – Phrase
Definition: liên minh kinh tế,
A more thorough explanation: An economic union is a type of trade agreement between multiple countries that involves the removal of trade barriers, such as tariffs and quotas, between member states. It also typically includes the coordination of economic policies, such as monetary and fiscal policies, among the member countries. Economic unions aim to promote economic integration and cooperation among member states to create a single market and increase economic efficiency.
Example: The economic union between the two countries allowed for the free movement of goods, services, and capital across their borders.
