What Is Meant By Free Trade Agreement

Free trade agreements, a form of trade pact, set the tariffs and tariffs that countries impose on imports and exports to reduce or eliminate barriers to trade and thereby promote international trade. [1] These agreements generally focus “on a chapter providing for preferential tariff treatment”, but they often also contain “trade facilitation and rule-making clauses in areas such as investment, intellectual property, government procurement, technical standards, and sanitary and phytosanitary issues”. [2] For example, one country could allow free trade with another country, with exceptions that prohibit the importation of certain drugs that are not approved by its regulatory agencies, or animals that have not been vaccinated, or processed foods that do not meet their standards. .

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