Free Trade Agreements
A free-trade area is a trade bloc whose member countries have signed a free-trade agreement (FTA), which eliminates tariffs, import quotas, and preferences on most (if not all) goods and services traded between them. If people are also free to move between the countries, in addition to FTA, it would also be considered an open border. It can be considered the second stage of economic integration. Countries choose this kind of economic integration if their economical structures are complementary. If their economical structures are competitive, it is likely there will be no incentive for a FTA, or only selected areas of goods and services will be covered to fulfill the economic interests between the two signatories of FTA.
Read more about Free Trade Agreements: Description, Lists of Free-trade Areas, Qualifying For A Free-trade Agreement
Famous quotes containing the words free, trade and/or agreements:
“Louise Bryant: I’m sorry if you don’t believe in mutual independence and free love and respect.
Eugene O’Neill: Don’t give me a lot of parlor socialism that you learned in the village. If you were mine, I wouldn’t share you with anybody or anything. It would be just you and me. You’d be at the center of it all. You know it would feel a lot more like love than being left alone with your work.”
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“Though in the trade of war I have slain men,
Yet do I hold it very stuff o’ the conscience
To do no contrived murder. I lack iniquity
Sometimes to do me service.”
—William Shakespeare (1564–1616)
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—Shirley Chisholm (b. 1924)