Free Trade Agreement (FTA)

A Free Trade Agreement (FTA) is a pact between countries that eliminates or reduces barriers to trade, such as tariffs and quotas. The goal is to encourage trade by making it easier and cheaper for businesses to export and import goods and services. FTAs often cover not only goods but also services, investments, and other areas, creating a more open and competitive trading environment. By fostering economic cooperation and reducing costs, FTAs aim to boost economic growth and improve the variety of products available to consumers.