A Free Trade Agreement (FTA) is an agreement formed among two or more nations with the aim to promote trade between the countries by mitigating or abolishing tariffs, quotas, and other barriers to trade across a spectrum of goods and services.
These agreements also often include provisions regarding the protection of intellectual property rights, setting standards for government procurement, advocating competition policy, enhancing economic integration, and increasing the global competitiveness of the participating countries.
While minimizing governmental interference through the reduction of trade barriers, FTAs streamline the international trade environment by making it more transparent, and economically efficient.
