Why Do We Have Free Trade Agreements

Since WTO members are required to communicate their free trade agreements to the secretariat, this database is based on the official source of information on free trade agreements (called the WTO-language regional trade agreement). The database allows users to obtain information on trade agreements that are communicated to the WTO by country or theme (goods, services or goods and services). This database provides users with an up-to-date list of all existing agreements, but those that are not notified to the WTO may be lacking. In addition, reports, tables and graphs containing statistics on these agreements, including preferential tariff analysis, are presented. [26] A free trade agreement is an agreement between two or more countries whereby countries agree on certain obligations affecting trade in goods and services as well as the protection of investors and intellectual property rights. For the United States, the primary objective of trade agreements is to remove barriers to U.S. exports, protect U.S. interests abroad, and improve the rule of law in partner countries or countries of the free trade agreement. In addition, free trade is now an integral part of the financial and investment systems.

U.S. investors now have access to most foreign financial markets and a wider range of securities, currencies and other financial products. Selling the Free Trade Agreement (FTT) to partner countries can help your company position itself and compete more easily in the global marketplace by removing barriers to trade. U.S. free trade agreements deal with a wide range of foreign government activities that affect your business: reducing tariffs, strengthening intellectual property protection, increasing the contribution of U.S. exporters to the development of FTA partner countries, fair treatment of U.S. investors, and improving opportunities for foreign government procurement and U.S. service companies. The General Agreement on Tariffs and Trade (GATT 1994) originally defined free trade agreements that were to include only trade in goods.

[5] An agreement with a similar purpose, namely the improvement of trade in services, is referred to as the “economic integration agreement” in Article V of the General Agreement on Trade in Services (GATS). [6] However, in practice, the term is now commonly used [by whom?] to refer to agreements that concern not only goods, but also services and even investments. Environmental provisions have also become increasingly common in international investment agreements, such as free trade agreements. [7]104 The pros and cons of free trade agreements affect employment, business growth and living standards: the main criticism of free trade agreements is that they are responsible for outsourcing employment.