BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A free trade agreement is a pact between two or more nations to reduce barriers to imports and exports among them. Under a free trade policy, goods and services can be bought and sold across international borders with little or no government tariffs, quotas, subsidies, or prohibitions to inhibit their exchange.

Detailed explanation-2: -Free trade agreements (FTAs) help expand global market opportunities for U.S. producers and exporters. Bilateral and multilateral trade agreements strip away trade barriers, reduce or eliminate tariffs, and promote investment and economic growth.

Detailed explanation-3: -A Free trade Agreement (FTA) is an agreement between two or more countries where the countries agree on certain obligations that affect trade in goods and services, and protections for investors and intellectual property rights, among other topics.

Detailed explanation-4: -FTAs are treaties between two or more countries designed to reduce or eliminate certain barriers to trade and investment, and to facilitate stronger trade and commercial ties between participating countries.

Detailed explanation-5: -The GATT process was to negotiate an agreement to reduce barriers to trade, sign that agreement, pause for a while, and then start negotiating the next agreement. The rounds of talks in the GATT, and now the WTO, are shown in Table 1.