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May 6, 2016 · But there are around 420 regional trade agreements already in force around the world, according to the World Trade Organization. Although not all are free trade agreements (FTAs), they still shape global trade as we know it.
GUAM Organization for Democracy and Economic Development (GUAM) FTA [11] [12] - unclear application, the WTO was notified in only 2017 - multilateral free trade regime among 4 countries (International Trade Centre says there is no free trade area in operation with distinct rules from an Agreement on Creation of CIS Free Trade Area, was signed on 15 April 1994 by 12 CIS countries.
Free trade agreements or free trade areas are listed as follows: List of multilateral free trade agreements; List of bilateral free trade agreements; See also.
The World Trade Organization (WTO) Agreements create an international trade legal framework for 164 economies around the world. These Agreements cover goods, services, intellectual property, standards, investment and other issues that impact the flow of trade.
- History
- Legal Aspects of Free Trade Agreements
- Economic Aspects of Free Trade Agreements
- Qualifying For Preferences Under An FTA
- Databases on FTAs
- See Also
- External Links
The OED records the use of the phrase "free trade agreement" with reference to the Australian colonies as early as 1877. After the WTO's World Trade Organization- which has been considered by some as a failure for not promoting trade talks, but a success by others for preventing trade wars - states increasingly started exploring options to conclude...
The formation of free trade areas is considered an exception to the most favored nation (MFN) principle in the World Trade Organization (WTO) because the preferences that parties to a free-trade area exclusively grant each other go beyond their accession commitments.Although Article XXIV of the GATT allows WTO members to establish free-trade areas ...
Trade diversion and trade creation
In general, trade diversion means that an FTA would divert trade away from more efficient suppliers outside the area towards less efficient ones within the areas. Whereas, trade creationimplies that an FTA area creates trade which may not have otherwise existed. In all cases trade creation will raise a country's national welfare. Both trade creation and trade diversion are crucial effects found upon the establishment of an FTA. Trade creation will cause consumption to shift from a high-cost p...
FTAs as public goods
Economists have made attempts to evaluate the extent to which FTAs can be considered public goods. They first address one key element of FTAs, which is the system of embedded tribunals which act as arbitrators in international trade disputes. These serve as a force of clarification for existing statutes and international economic policies as affirmed in the trade treaties. The second way in which FTAs are considered public goods is tied to the evolving trend of them becoming “deeper”. The dep...
Further information: Rules of origin Unlike a customs union, parties to an FTA do not maintain common external tariffs, which means they apply different customs duties, as well as other policies with respect to non-members. This feature creates the possibility of non-parties may free-riding preferences under an FTA by penetrating the market with th...
The database on trade agreements provided by ITC's Market Access Map. Since there are hundreds of FTAs currently in force and being negotiated (about 800 according to ITC's Rules of Origin Facilitator, counting also non-reciprocal trade arrangements), it is important for businesses and policy-makers to keep track of their status. There are a number...
ITC's Market Access Map Archived 2019-06-05 at the Wayback MachineIn the late 1970s, North-South agreements accounted for more than half of all agreements – in 2010, they accounted for about one-quarter. Today, the majority of preferential trade agreements are between developing economies. Number of preferential trade agreements in force by country group, 1950-2010 – Figure B1 in WTO Trade Report (2011)
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May 12, 2021 · The EU currently has 45 trade agreements with individual countries or with other free trade areas, as well as the free trade agreement amongst themselves, bringing the count to 46.
