Essay About Free Trade Agreement And Trade Barriers

International Business Law
What is FTA (Free Trade Agreement)?FTA is an agreement that results from cooperation between at least two countries to reduce trade barriers— import quotas, taxes and non-tariff barriers, such as regulatory legislation — and to increase trade with each other. Free Trade Agreements must be mutually beneficial to the countries involved. Countries considering an FTA typically look to determine whether the FTA will bring them economic benefit. But the rationale behind FTAs is not exclusively economic – it is often underpinned by political and strategic considerations. What may an FTA cover? GoodsServicesInvestments Rule of OriginTrade remedies- Anti-dumping- Anti-subsidiaries- Safeguard measuresRule issuesOther issues: Some of FTAs include government procurement and competition policy.  Two types of FTAs:Bilateral Trade: (