Free Trade Agreement

(redirected from Free Trade Agreements)

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 ?
We have free trade agreements with almost all of our other major trading partners, so this really is the missing piece, said Miles Hurrell, Group Director of Co-operative Affairs.
in addition to the multilateral, Macedonia has also signed two bilateral Free trade Agreements with the following countries:
Negotiations for a free trade agreement with the EU were suspended by the Gulf Cooperation Council in 2008, noted a press release on the EU's free trade agreements.
It has concluded 18 free trade agreements with 27 partner countries outside the EU.
Morocco, a country of 32 million already has free trade agreements with the EU, the U.
ANKARA, Nov 14, 2010 (TUR) -- Turkish State Minister for Foreign Trade Zafer Caglayan, said free trade agreements boosted Turkey's exports.
Although Chile currently has various types of free trade agreements with 58 countries, representing 60% of the global population, it has yet to develop free trade agreements with the six Arab states of the Persian Gulf.
The Republic of Korea has free trade agreements in place with India, Chile, Singapore, the European free trade area and ten southeast Asian countries.
Summary: Casablanca - The Free Trade Agreements (FTA) signed by Morocco are a spur to accelerate the implementation of reforms aiming to attract investments, Foreign Minister, Taib Fassi Fihri said on Wednesday.
The acknowledgment adds new hurdles to the New York senator's bid to woo Democratic voters in Pennsylvania and elsewhere who believe free trade agreements have eliminated thousands of US jobs.
In addition to major multilateral initiatives like CAFTA and the SPP/North American Union, the current Bush administration has completed numerous bilateral Free Trade Agreements (FTAs) with countries ranging from Chile to Singapore.