Free Trade Agreement

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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 ?
According to spokesperson of Commerce Ministry, Free Trade Agreements with Thailand and Tunisia, bilateral trade Agreement with Nigeria, and preferential trade agreement have been initiated.
Currently, Georgia has free trade agreements with EU, Turkey, CIS countries, the European Free Trade Association and China.
It should be noted that the free trade agreements have been concluded with the EU, Turkey, CIS countries and the European Free Trade Association (EFTA).
Through active trade diplomacy, the government is trying to get better market access for local businesses in international markets by concluding Free Trade Agreements and Preferential Trade Agreements with different countries.
THE EU has free trade agreements with non-EU members: Indeed, the EU has recently concluded a free trade agreement with Japan.
in addition to the multilateral, Macedonia has also signed two bilateral Free trade Agreements with the following countries:
There was no political desire to implement free trade agreements and the Arab countries were actually diverging socially, politically and economically.
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.
The pillars for success of many bilateral and multilateral free trade agreements are market access, export competition, and domestic support.
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.