Trade Agreements Names

The majority of mutual agreements covered by the instrument are free trade agreements. Free trade agreements (FTAs) remove barriers to trade between members and provide preferential market access on a mutual basis. In addition to trade in goods, free trade agreements generally cover trade in services and investment rules and remove tariff and non-tariff barriers. They may also include a number of provisions relating to customs cooperation and trade facilitation, as well as harmonising standards and promoting regulatory cooperation in different areas. As has already been said, these are agreements in which one country unilaterally offers preferential rights to another country or group of countries.