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A bilateral free trade agreement is between two sides, where each side could be a country (or other customs territory), a trade bloc or an informal group of countries, and creates a free trade area.
A multilateral free trade agreement is between several countries all treated equally, and creates a free trade area. Every customs union, common market, economic union, customs and monetary union and economic and monetary union is also a free trade area, and are not included below.
The OED records the use of the phrase "free trade agreement" with reference to the Australian colonies as early as 1877. [9] 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 FTAs.
Commonwealth of Independent States Agreement on Free Trade in Services, Establishment, Operations and Investment; Commonwealth of Independent States Agreement on the Establishment of a Free Trade Area; Commonwealth of Independent States Treaty on Free Trade Area; Comprehensive economic partnership agreement
States can unilaterally reduce regulations and duties on imports and exports, as well as form bilateral and multilateral free trade agreements. Free trade areas between groups of countries, such as the European Economic Area and the Mercosur open markets, establish a free trade zone among members while creating a protectionist barrier between ...
Central European Free Trade Agreement (CEFTA) Comparative advantage; Cost, Insurance and Freight (CIF) Council of Arab Economic Unity; Currency; Customs broking; Customs union; David Ricardo; Doha Development Round (Of World Trade Organization) Dominican Republic – Central America Free Trade Agreement (DR-CAFTA) Enabling clause
The Agadir Agreement of 2004 (FTA between Jordan, Tunisia, Morocco, Egypt) was seen as its first building block.Further steps were envisioned into the European Neighbourhood policy (ENP) Action plans negotiated between the European Union and the partner states on the southern shores of the Mediterranean Sea, mostly with Arab League member states.