单词 | free trade area |
释义 | free trade areaFree Trade Zonefree trade areasee TRADE INTEGRATION.free trade areaa form of TRADE INTEGRATION between a number of countries in which members eliminate all trade barriers (TARIFFS, etc.) among themselves on goods and services but each continues to operate its own particular barriers against trade with the rest of the world. The aim of a free trade area is to secure the benefits of international SPECIALIZATION and INTERNATIONAL TRADE, thereby improving members’ real living standards. The EUROPEAN FREE TRADE ASSOCIATION (EFTA) is one example of a free trade area. See GAINS FROM TRADE, NORTH AMERICAN FREE TRADE AGREEMENT, MERCOSUR, ASIAN PACIFIC ECONOMIC COOPERATION, ASSOCIATION OF SOUTHEAST ASIAN NATIONS. |
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