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Free-trade area

Index Free-trade area

A free-trade area is the region encompassing a trade bloc whose member countries have signed a free-trade agreement (FTA). [1]

29 relations: Aggressive legalism, Bill of materials, Common external tariff, Comparative advantage, Customs, Customs and monetary union, Customs union, Economic and monetary union, Economic integration, Economic union, Free trade, Free trade areas in Europe, Free-trade zone, General Agreement on Tariffs and Trade, Goods, Import quota, International trade, List of bilateral free-trade agreements, List of multilateral free-trade agreements, Open border, Re-exportation, Rules of origin, Single market, Tariff, Trade agreement, Trade barrier, Trade bloc, Value (economics), World Trade Organization.

Aggressive legalism

In the context of globalization and the subsequent proliferation of free trade agreements (FTAs), legal scholars generally refer to the political strategy used by a sovereign state to leverage a trade agreement’s substantive rules to counter behavior it deems unreasonable by its trading partners, as aggressive legalism.

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Bill of materials

A bill of materials or product structure (sometimes bill of material, BOM or associated list) is a list of the raw materials, sub-assemblies, intermediate assemblies, sub-components, parts, and the quantities of each needed to manufacture an end product.

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Common external tariff

A common external tariff must be introduced when a group of countries forms a customs union.

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Comparative advantage

The law or principle of comparative advantage holds that under free trade, an agent will produce more of and consume less of a good for which they have a comparative advantage.

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Customs

Customs is an authority or agency in a country responsible for collecting tariffs and for controlling the flow of goods, including animals, transports, personal, and hazardous items, into and out of a country.

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Customs and monetary union

An customs and monetary union is a type of trade bloc which is composed of a customs union and a currency union.

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Customs union

A customs union was defined by the General Agreement on Tariffs and Trade as a type of trade bloc which is composed of a free trade area with a common external tariff.

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Economic and monetary union

An economic and monetary union is a type of trade bloc which is composed of an economic union (common market and customs union) with a monetary union.

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Economic integration

Economic integration is the unification of economic policies between different states through the partial or full abolition of tariff and non-tariff restrictions on trade taking place among them prior to their integration.

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Economic union

An economic union is a type of trade bloc which is composed of a common market with a customs union.

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Free trade

Free trade is a free market policy followed by some international markets in which countries' governments do not restrict imports from, or exports to, other countries.

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Free trade areas in Europe

At present, there are four multi-lateral free trade areas in Europe, and one former free trade area in recent history.

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Free-trade zone

A free-trade zone (FTZ) is a specific class of special economic zone.

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General Agreement on Tariffs and Trade

General Agreement on Tariffs and Trade (GATT) was a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas.

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Goods

In economics, goods are materials that satisfy human wants and provide utility, for example, to a consumer making a purchase of a satisfying product.

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Import quota

An import quota is a type of trade restriction that sets a physical limit on the quantity of a good that can be imported into a country in a given period of time.

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International trade

International trade is the exchange of capital, goods, and services across international borders or territories.

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List of bilateral free-trade agreements

This is list of free-trade agreements between two sides, where each side could be a country (or other customs territory), a trade bloc or an informal group of countries.

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List of multilateral free-trade agreements

This is a list of multilateral free-trade agreements, between several countries all treated equally.

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Open border

An open border is a border that enables free movement of people between different jurisdictions with few or no restrictions on movement, that is to say lacking substantive border control.

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Re-exportation

Re-exportation, also called entrepot trade, may occur when one member of a free trade agreement charges lower tariffs to external nations to win trade, and then re-exports the same product to another partner in the trade agreement, but tariff-free.

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Rules of origin

Rules of origin are used to determine the country of origin of a product for purposes of international trade.

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Single market

A single market is a type of trade bloc in which most trade barriers have been removed (for goods) with some common policies on product regulation, and freedom of movement of the factors of production (capital and labour) and of enterprise and services.

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Tariff

A tariff is a tax on imports or exports between sovereign states.

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Trade agreement

A trade agreement (also known as trade pact) is a wide ranging taxes, tariff and trade treaty that often includes investment guarantees.

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Trade barrier

Trade barriers are government-induced restrictions on international trade.

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Trade bloc

A trade block is a type of intergovernmental agreement, often part of a regional intergovernmental organization, where barriers to trade (tariffs and others) are reduced or eliminated among the participating states.

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Value (economics)

Economic value is a measure of the benefit provided by a good or service to an economic agent.

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World Trade Organization

The World Trade Organization (WTO) is an intergovernmental organization that regulates international trade.

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References

[1] https://en.wikipedia.org/wiki/Free-trade_area

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