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The terms of the economic treaty, which came into effect 1 January 1958, provided for economic cooperation, reduction (and eventual removal) of customs barriers, and the free movement of capital, goods, and labour between the member countries, together with common agricultural and trading policies. Subsequent new members of the European Union have been obliged to accept these terms.
Blue stands for the Pacific Ocean and water on which life depends. Yellow symbolizes the sun. Green represents the lush vegetation. Effective date: 18 November 1977.
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