An arrangement which establishes unimpeded exchange and flow of goods and services between trading partners regardless of national borders.
an agreement between two or more separate customs territories to reduce or eliminate trade barriers that exist between them, but with each party maintaining its own external trade policy for non-member countries
an important step in the right direction, but Mexico has to take the lead in providing a good environment for faster economic growth
a trade agreement which eliminates tariffs between the parties and prohibits quantitative restrictions on commercial products
A free trade agreement (FTA) refers to an arrangement between specific countries/regions to mutually eliminate trade barriers, such as customs tariffs and export/import quotas. The agreements are intended to boost trade and the movement of people and goods in the area covered. The Treaty of Rome, which took effect in 1958 and was the basis of the European Economic Community (EEC), is the first example of an FTA. Economic globalization is prompting many countries/regions to accelerate FTA treaties. More than 120 FTAs, including those aimed at regional economic integration and customs agreements, have already been formed. East Asian nations, including Japan, China and South Korea, have lagged behind in promoting FTAs, however.
an agreement between two or more countries to improve the flow of goods and services between borders, and eliminate or significantly reduce tariffs and trade barriers.