Economic Cooperation Agreement

An Economic Cooperation Agreement is a formal arrangement between countries to promote mutual economic growth. It typically involves reducing tariffs, improving trade rules, and encouraging investment to make it easier and more beneficial for businesses and consumers to exchange goods, services, and resources. The goal is to strengthen economic ties, create jobs, and boost prosperity for all parties involved. Such agreements often also include cooperation on issues like infrastructure, technology, and regulations, fostering a more integrated and competitive regional or global economy.