World Trade Organization Free Trade Agreements

A free trade agreement (FTA) or treaty is a multinational agreement under international law to form a free trade area among cooperating states. Free trade agreements, a form of trade pact, set the tariffs and tariffs that countries impose on imports and exports to reduce or eliminate barriers to trade and thereby promote international trade. [1] These agreements generally focus “on a chapter providing for preferential tariff treatment”, but they often also contain “trade facilitation and rule-making clauses in areas such as investment, intellectual property, government procurement, technical standards, and sanitary and phytosanitary issues”. [2] In general, trade diversion means that a free trade agreement would redirect trade from more efficient suppliers outside the territory to less efficient suppliers within the territories. The creation of businesses, on the other hand, implies that a free trade agreement creates trade that might not have existed otherwise. Member States must sign and ratify all WTO accession agreements. [111] This is followed by a discussion of some of the most important agreements. More information on the WTO and regional trade agreements is available on the WTO website under www.wto.org/english/tratop_e/region_e/region_e.htm. The results of relevant studies show that the number of LEAs tends to increase from year to year. This is what the statistics show: in 1995, 124 such agreements had been notified to the WTO. As of 15 January 2012, the World Trade Organization had registered 319 free trade agreements in force. Today, the free trade agreement is the most common form of regional integration. For example, 84% of regional trade agreements notified to the World Trade Organization (WTO) are free trade agreements.

This trend is easy to explain. To sign such an agreement, it is not necessary to harmonize national legislation or tariffs, nor is the geographical proximity of the partners required, etc. At the same time, free trade agreements regulate access to strategic markets. This means that they make it possible to integrate the economic sectors at the required level, while ensuring the utmost respect for the sovereignty of these countries and making the best efforts. .

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