Free Trade Agreement

Free Trade Agreement

An agreement between two or more countries that reduces or eliminates most trade restrictions between the participants. For example, a free trade agreement may abolish subsidies to favored industries in order to make them less expensive compared to international competitors. Proponents of free trade argue that it is more economically efficient and helps consumers by promoting competition to keep prices low. Critics contend that free trade is detrimental to local jobs, especially in the developed world. NAFTA is a major (and controversial) example of a free trade agreement. In particular, NAFTA allowed for the more or less free importation and exportation of agricultural products and textiles.
References in periodicals archive ?
Indonesia has agreed to unilaterally grant market access to Pakistan on 20 priority tariff lines while new concessions under the China-Pakistan Free Trade Agreement will provide a boost to Pakistani exports.
AUSTRALIAN prime minister Malcolm Turnbull has said his country wants to seal a free trade agreement with the UK "as soon as possible" after Britain's withdrawal from the European Union.
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On 13 May 2017, Georgia and China signed the free trade agreement to expand bilateral trade, BeijingEe's first-ever free trade agreement in the Eurasian region;
Georgia and the Republic of China signed a free trade agreement.
This volume is the result of a conference, oNAFTA at Twenty: The Past, Present, and Future of the North American Free Trade Agreement,o which considered its effects, achievements, and challenges after 20 years.
Bilateral Free trade Agreement with Ukraine these agreements give Macedonia duty free access to more than 650 million consumers.
I believe the current social and political situation in the Arab states means there is no better time than the present to develop a proper, effective, free trade agreement, eliminating trade barriers among the Arab states.
In 2007, the Council agreed to launch negotiations on a region-to-region free trade agreement with the ASEAN countries, but these were put on hold in 2009.
BRUSSELS, Feb 18 (KUNA) -- The European Union Monday announced that "informal contacts " between the European Union and Gulf Cooperation Council negotiators on a free trade agreement continue to take place.
The second article by Ted Bilyea of the Canadian Agri-Food Policy Institute provides a Canadian perspective on emerging issues of the North American Free Trade Agreement (NAFTA) and competitive liberalization in the global meat trade.
Australia has been in negotiations for its own Free Trade Agreement (FTA) with Korea for the past three years, but it hasn't been finalized.
free trade agreement could boost growth on both sides by 1 percent to 3 percent.