Free trade agreement (FTA)
A Free Trade Agreement (FTA) is a pact between two or more countries that reduces or eliminates tariffs, import quotas, and other trade barriers to facilitate trade and investment among member nations.
Tumisang Bogwasi
Tumisang Bogwasi
What is a Free Trade Agreement (FTA)?
Free trade agreements (FTAs) are pacts between two or more nations that aim to reduce or eliminate barriers to trade and investment. These agreements typically involve lowering tariffs, quotas, and other restrictions on the import and export of goods and services between member countries. The overarching goal is to foster economic growth, increase market access, and promote closer political ties among participants.
FTAs can significantly impact global commerce by reshaping trade flows and influencing economic policies. By creating larger, more integrated markets, they can lead to increased specialization, economies of scale, and greater efficiency. However, they can also raise concerns about job displacement in certain domestic industries and the potential for regulatory
