FTA (Free Trade Agreement)

A Free Trade Agreement (FTA) is a formal arrangement between countries that reduces or eliminates barriers like tariffs, tariffs, and import quotas on goods and services traded between them. The goal is to encourage more commerce by making it easier and cheaper for businesses to sell across borders. FTAs can also include provisions to protect investments, promote cooperation, and set common standards. By fostering easier trade relationships, FTAs aim to boost economic growth, create jobs, and improve access to a wider range of products for consumers in the member countries.