Foreign Trade Agreement

A Foreign Trade Agreement is a formal arrangement between two or more countries that outlines rules for buying and selling goods and services across borders. Its purpose is to promote trade by reducing barriers like tariffs (taxes on imports) and quotas (limits on quantities). These agreements can also set standards for quality, investments, and intellectual property, making international transactions smoother and more predictable. Overall, they aim to enhance economic cooperation, encourage growth, and benefit consumers by providing access to a wider range of products at competitive prices.