A Free Trade Agreement (FTA) is a pact between two or more countries to reduce or eliminate trade barriers such as tariffs, quotas, and import/export restrictions.
The objective is to facilitate the movement of goods and services across borders, enhance economic collaboration, and stimulate competition.
FTAs often include provisions about investment, intellectual property, and dispute resolution. They vary widely in scope and complexity based on the needs and priorities of the participating nations.
Free Trade Agreements offer several significant benefits to participating countries and their economies.
Some key advantages are:
Economic Growth: By reducing or eliminating tariffs and barriers, FTAs help businesses expand and access new markets, which can boost trade and economic activity.
Lower Consumer Prices: Reduced import costs can lead to more affordable goods and services for consumers.
Strengthened Relations: FTAs can deepen diplomatic and economic ties between participating nations, fostering cooperation and stability.
Each agreement comes with its own unique balance of risks and rewards. Attendees of this informative course will leave with a vast amount of key information.
