Definition: Economic zone

Category: External trade

A grouping of countries with some common economic features.
Examples of such economic zones are:

· EU15 (Member States of the European Union)
· Euro-zone (Member States who have adopted the Euro: sometimes referred to as EUR 11 or, from 1 January 2001, EUR 12)
· EFTA (Countries of the European Free Trade Association)
· OPEC (Member States of the Organisation of Petroleum Exporting Countries)
· NAFTA (Countries of the North American Free Trade Agreement)