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Free Trade

Trade Associations
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Jul 12, 2019
What are free trade agreements (FTAs)?

2 answers

Jun 03, 2020
FTAs are not as simple as they seem. These agreements have a definite aim. First of all, they must be seen in a global context as stepping stones towards full integration into a global free market economy. They are another way to ensure that governments implement the liberalisation, privatization and deregulation measures of the corporate globalisation agenda.They are based on assumptions that free trade and the removal of regulations on investment will lead to economic growth, the reduction of poverty, increased living standards and employment opportunities. In reality, these kinds of agreements only allow transnational corporations (TNCs) more freedom to exploit workers and to shape the national and global economy to suit their interests. Like other free trade and investment agreements, they work towards removing all restrictions on business.Since the 2008 financial crisis, there has been a trend towards mega-regional trade agreements. These are between more than two countries and involve large shares of world trade or investment. Such deals include the Regional Comprehensive Economic Partnership (RCEP), the Trans-Pacific Partnership (TPP), the Trade in Services Agreement (TiSA) and the Transatlantic Trade and Investment Partnership (TTIP).
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Flora M.
Jul 12, 2019
In short, you have to know that FTAs are agreements between and among two or more countries under which they agree to eliminate tariffs and non-tariff barriers on trade in goods and services among them, but each country maintains its own trade policies and regulations, including tariffs, on trade outside the FTA. I would like also to mention, that FTA partner countries may also agree to reduce barriers or otherwise establish rules of behavior in other economic activities—investment, IPR, government procurement, worker rights, and environmental protection.
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