Review:
Free Trade Agreements (ftas)
overall review score: 4.2
⭐⭐⭐⭐⭐
score is between 0 and 5
Free Trade Agreements (FTAs) are treaties between two or more countries that reduce barriers to trade and investment, such as tariffs and quotas, in order to promote economic growth and cooperation.
Key Features
- Reduction of tariffs and quotas
- Promotion of economic growth
- Increased trade and investment opportunities
- Harmonization of trade rules and regulations
Pros
- Promotes economic growth
- Increases trade opportunities
- Creates jobs
- Improves market access for goods and services
Cons
- Potential loss of domestic jobs in certain industries
- Can lead to dependency on foreign markets
- May favor larger corporations over small businesses