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The countries of Torania and Portlandia are located in the same geographical region. Recently, they have set up a common market as well as the

The countries of Torania and Portlandia are located in the same geographical region. Recently, they have set up a common market as well as the coordination of monetary policy between them. What is the name of the type of agreement they have entered into?

1. Free trade agreement

2.Common market

3. Economic union

4. World trade organiztion

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