In essence, free trade allows customers to benefit from lower costs, higher exports, scale economies, and a wider range of goods. This illustrates how concentrating in items with lower opportunity costs can boost economic welfare for all countries.
FTAs are agreements between two or more nations to lower or eliminate some trade and investment obstacles, as well as to allow stronger trade and commercial connections between them.
A free trade agreement (FTA) is an agreement between two or more nations in which the parties agree on certain obligations relating to goods and services trade, investor protection, and intellectual property rights, among other things.
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