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Anvisha [2.4K]
2 years ago
7

Nations sometimes form free-trade associations and establish areas where there are few, if any, export and import duties or othe

r regulations that would act as barriers to trade among partners. These are called:
Business
1 answer:
melomori [17]2 years ago
6 0

When this is formed by nations to advance trade it is referred to as a<u> Free Trade Area. </u>

<h3>What is a free trade area?</h3>
  • A zone comprising of several nations where they don't charge each other much customs/ import duties.
  • Allows for easier trade.

The purpose of a free trade area is to encourage trade amongst members but it can lead to a few members dominating if they produce more than the other members.

Find out more on free trade areas at brainly.com/question/8515719.

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4 years ago
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