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allsm [11]
1 year ago
14

What is the purpose of a free trade area?

Business
1 answer:
KiRa [710]1 year ago
5 0

Free trade agreements can also be used to overcome non-tariff barriers that might otherwise block the flow of goods and services. These agreements can also be used to strengthen laws controlling areas like intellectual property, e-commerce, and public procurement.

The basic objective of a free-trade zone is to remove commercial barriers caused by high tariffs and challenging customs regulations from a harbour, airport, or services. A free trade area is a group of countries without a common trade policy toward outsiders but with usually abolished tariffs and other trade obstacles among its members. The European Free Trade Association (EFTA) and the North American Free Trade Agreement are two examples of free trade areas (NAFTA).

To learn more about free trade , click here.

brainly.com/question/10473895

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